-- 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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What employer would have such low regard for their employees that they would move them into Chiraq?
Hmm, looks like you’re in bad hands with this group of Allstate managers!
Pharma company Novartis leaving Libertyville, -275 jobs.
“who asked not to be identified because the talks with the city are private.”
If this is what has been leaked, it’s already too late, Allstate has already decided to leave IL, and there’s some people within Allstate pushing to stay in IL, and stories like this are leaked from the Chicago negotiators in desperation to change their mind.
Bye-Bye Allstate, it was nice having you here.