-- 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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In 1993 Sears sold its venerable, beloved and trusted catalog. That was less than two years before the Internet took off. I know that Sears, had it kept the catalog and developed online sales it would have been the next Amazon. I developed their 800 order and distribution systems at that time. Those call centers and distribution network were nearly the size of amazons a few years ago. The idiots there sold the catalog to try to make a clothing business. What woman buys clothes at sears? Sears is still incredibly mismanaged today, Sam Walton knows how to run a… Read more »