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A federal grand jury looking into Ald. Carrie Austin’s purchase of a new home has also subpoenaed records regarding businesses connected to a family of suburban entrepreneurs whose companies have been paid more than $100 million on City Hall deals in the past 17 years.
All but one of the companies are owned by Lemont businessman Boris Nitchoff, his sons Alex Nitchoff and Constantino Nitchoff and his granddaughter Lauren Nitchoff. The other company is owned by Antonia Tienda, who city records show formerly worked as a project manager for one of the Nitchoff companies.
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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