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United and American airlines are slated to share a new “global terminal” handling both domestic and international flights - a project funded in part by airlines. But the city has confirmed the the next major phase of O’Hare work is $1.5 billion — 24% — over budget. Ald. Matt O’Shea said it is particularly “concerning” that United has revived a 2018 threat to move its corporate headquarters at Willis Tower out of Chicago.
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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Hmm, will there be a new terminal designed with the needs of illegals in mind?
More importantly, when will Mayor Pete and Dementia Joe mandate that all fuel burning aircraft be replaced with electric jets, or better yet, large gliders. The wunderkind Greta would no doubt concur! We should definitely hold off spending billions on O’Hare until we know the requirements of the new electric fleet
I got it – electric ‘bullet train’ from Peotone.
Ohare is a great airport as it is currently configured. Could the international arrival terminal 5 be better? Yes. Do we need to spend $8billion+ on a vanity project? No. The designers and engineers of the 1960s-1980s did an excellent job with Ohare and we can continue to enjoy the investments made in the past for the foreseeable future. Any money spent on airports should go towards expanding our regional capacity somewhere far from ORD, like the south suburbs where it could be a real economic driver and offer alternate runways in case of inclement weather. ORD just doesnt need… Read more »
International Terminal 5 is a 3rd-world airport terminal, held together with duct tape and plastic sheeting, dirty and haphazardly configured, where international travelers experience the banana republic Chicago has become.
O’Shea gives some recognition to the need to stay competitive. His comment is in regard to airport modernization. However he and the city make no effort to stay competitive regarding costs. With their ridiculous prevailing wage mandates, Chicago is way too expensive a place to do major construction, or to live in general. That is one factor in why people and businesses are moving out. No need for airport expansion if the Chicagoland population is going to stay flat, at best. (Migrant aliens might keep population flat, but our politicians indicate they will drain local resources.)