-- 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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Young lawyers can work anywhere now, as remote work is the new normal — Crime toilet Chicago is at the bottom of the list for this crowd
It’s more than just remote work. It’s fewer lawyers moving to Chicago for employment after law school. The pipeline is drying up. Get rid of the Big 10 to professional employment pipeline, and the economic engine of the city dries up. Chicago can’t survive on bodegas, dollar stores, liquor stores, currency exchanges and Boost Mobile retail. J&J Fish will be the city’s largest employer before long.
Another indicator that the Big 10 to Chicago pipeline is drying up.