-- Connecting the dots between our economy, government and business --
The company submitted 25 perfect applications under the name GRI Holdings LLC, meaning it could win the right to open up to 10 stores. Under one estimate, those licenses could be worth more than $133 million. But GRI’s registered managers make up a clouted mix of insiders and others with ties to state politics.
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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