-- 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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Every so often the State of IL gets something right, even if inadvertently. Noncompete and nonsolicitation Agreements are anti-competitive and anti-free market. They are not for the benefit of the employee and exist only for the benefit of the employer to stop the free flow of labor to their competitors. Interesting note, the only industry in which the noncompete and nonsolicitation agreements are outright prohibited is the legal field. Because people and corporations have a constitutional right to choose their own counsel and they can’t be constrained by private agreements limiting representation. But it (used to) apply to everyone else.… Read more »