-- 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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The McCaskey family’s basis in that team is about zero. Fair market value now is probably in the $4.5 billion range. NO family members have any accomplishments to speak of other than being heirs. Has any one ever heard of any family member doing anything for the community re education? Homelessness? Crime prevention? College donations? Hospital wings? Anything at all? Nope. What taxpayer would want his funds to support this team? What legislator in his or her right mind would vote to give property tax breaks to these privileged billionaires?
Spot on Sparty. The annual Silverdome subsidy was a political football in Lansing that didn’t go away until the Lions moved into a new stadium in Detroit.
I would say the Ford family is more generous than the McCaskeys though.
They’re a bit sharper too. The best thing about old man Bill Ford owning the Lions for decades is he didn’t run the Ford Motor Company and drive it into a ditch.