-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
This should be the official state song in Illinois for corporations and small business.
https://www.youtube.com/watch?v=eqyUAtzS_6M
You know you’ve hit bottom when Fortune 500 companies are leaving Chicago for Detroit.
There is an imbroglio related to the debt financing this LBO of Tenneco by Apollo.
Apollo is taking this company private via a LBO. The to be new owners must have perceived an advantage to be near Detroit. Certainly Illinois’ economic policies do not help.
Is this where we’re all supposed to yell good riddance! That’s what the Illinois Dems do whenever someone has the audacity to escape the terrible business environment and insane violent crime in the house that Pritzker built.
JB should know better than to “bite the hand(s) that feeds him”, lol…
I would not be happy if I was one of the 1200 workers left behind in Skokie.
Just the latest Fortune 500 Company (Boeing, Caterpillar, Tyson) to dump Illinois