-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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This company was formerly part of Baxter and was therefore already located in Illinois. That omission makes it sound like Pritzker and policies attracted a Global Healthcare Company to relocate to Illinois.
Another political stunt
Seems like this genius of a CEO is ignoring his duty to maximize profits for his shareholders.
Maybe he’ll figure this out when he goes to the first meeting of CEO’s New to Illinois and realizes he’s the only one at the meeting.
50 new jobs? Across the river in GA from us in SC, Hyundai is building a $7.6 billion dollar plant that will employ 8500 highly paid workers from around the area. Compare this puny IL investment with some of the big new plants being built, mostly in red states, that will employ hundreds of workers. Good job, Pritzker. 50 new jobs but how many people left IL this month?
Wow! 50 new employees. Their income should solve our pension and excessive property tax burden. I can sleep better now.
It will also really lower the high IL
unemployment rate.