-- 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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Gotta say, I started HPA in 2007. There was no tech sector at the time in Chicago. We never ever discriminated. Not once did I hear someone say, “we can’t invest because they are xxxxx”. Anyone with an idea could come and potentially pitch. We had diverse investors, and a diverse board that was predominantly female. In all my years of investing, I have never seen any discrimination based on race/gender./sex. none. Not ever. My gut is this is just a bullshit virtue signaling way for an inexperienced person to earn some money on a management fee taking no real… Read more »
Madre Di Dios! Who’s running Crains? Frazier Thomas! Maybe it just my 70 year cynicism, it seems almost everyday Crains shts the bed!
“I really value my time at Twitter”
Twitter is a scourge and a pox on our culture and society. It amplifies the craziest progressive voices and gives them legitimacy with their blue check.
Silly me. I thought that discriminating on the basis of race was illegal.
It’s insane the thought that these very smart people never even consider that they might be willfully breaking civil rights law. OTOH, Joe Biden has made it abundantly clear, and has vocalized loudly, that his DOJ has zero interest in going after civil rights violators. In fact, it appears to be targeting organizations that aren’t equitable enough.