-- Connecting the dots between our economy, government and business --
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Even today, after the return of many tourists and shoppers, more than 900,000 of the 3.2 million square feet on the Mag Mile is available, nearly double the vacancy rate before the pandemic. In contrast, as of July, visitor traffic to suburban retailers was up 16.6% over pre-pandemic levels.
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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After The Destruction Of Black Lives Matter Riots/Looting Arson, And Downtown’s Crime Clusterf*ck, What To Do With Michigan Avenue’s Retail Graveyard, And Its 30 Plus Percent Vacancy Crater
Dont leave home without it If you’re thinking of Xmas shopping along the Mag Mile!