-- Connecting the dots between our economy, government and business --
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Financial firms looking to manage the city’s $8.5 billion portfolio must now demonstrate commitment to diversity hiring and social responsibility under a newly launched scorecard system to be unveiled Tuesday by City Treasurer Melissa Conyears-Ervin. That scorecard resulted in 40% of the asset management firms that contracted with the City Treasurer’s office last year being dropped.
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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Why is it OK to say something is ‘too white’ but racist to say ‘too black’?
because we live in clown world