-- 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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In some cases the salary history question is BS because prospective employers will only offer 10% to 15% above the applicants previous salary. But It also backfires because applicants often reject low ball employers who try this trick. A co-worker of mine had this very situation happen to him. He applied for a job out of state that would be a major promotion and require a lot of responsibility. The position pays well into the high $100’s at other companies. The company even flew him out of state for two interviews. They offered him the job. Then it came time… Read more »