-- Connecting the dots between our economy, government and business --
The Metropolitan Pier and Exposition Authority voted Tuesday to sell a painting by Chicago artist Kerry James Marshall, estimated at $8 million to $12 million, at a Sotheby’s auction next month. The MPEA purchased the monumental canvas “Past Times” for $25,000 in 1997,
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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