-- 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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I just sold my last remaining businesses that were in IL., this one a quick lube. I have closed ten small businesses I operated in IL over the last 11 years and started new ventures in business friendly states. The last straws were this ridiculous marijuana laws that tell me I have to hire stoners and the new laws that expunge the criminal records of drug offenders. How can a cash business hire and promote people into management if you can;t screen fro people who are known law breakers and drug users. It is insane. Well it is not my… Read more »
Illinois Employers actually have a short to-do list: leave Illinois
1. The Illinois Workplace Transparency Act and Amendments to the Illinois Human Rights Act (#MeToo Protections) ~~ Good in theory. Banning unilateral arbitration is good too. Arbitration has a bad rap but a lot of it is because many lawyers are unfamiliar with it and there is no right to appeal. But removing arbitration does subject employers to costly, frivolous claims. The metoo provisions are also good – no one should be able to sexually harass at will and then be protected by the company who pays off the accuser. But the sexual harassment training is too much, it’s a… Read more »