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"There’s something very special about the government in Florida and their focus on delivering traditional values for the community," Griffin said at an event organized by the Economic Club of Miami several months after making the announcement.
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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I remember when the Chicago Tribune opined about Ken’s moving from IL to FL. They said that when he left, 1% of IL’s Tax Base went with him (him, his employees & Citadel’s cumulative taxes). Now, multiply that by Thousands of others who have moved out for the same reasons, and you have a Fiscal Death Spiral. Johnson’s Head Tax will exacerbate the process, and Chicago will end up looking like Kwame Kilpatrick’s Detroit in a matter of years…
“Hasta la vista Chicago! I won’t be coming back!” Ken Griffin
He is the biggest loss Chicago has ever taken. He is never coming back to Chicago.
He sold at the market price; things are bad and getting worse.