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While secretly recording conversations to help the FBI expose an extortion scheme run by longtime Chicago Teamsters union boss John T. Coli Sr., the president of Chicago’s largest movie studio, Alexander S. Pissios, also had a starring role in another production that could bring him and his partners millions of dollars.
Pissios’ Cinespace Chicago Film Studios teamed with public housing manager The Habitat Co. and Mount Sinai Hospital on a development in North Lawndale, getting the Chicago Housing Authority to approve their proposal for a $76 million development on Ogden Avenue including stores, offices and homes.
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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this story reads like a bad movie plot