-- Connecting the dots between our economy, government and business --
Neil Steinberg: "Operations at Ford's Chicago Assembly Plant began Feb. 24, 1924 — 100 years ago last Saturday — and continue to this day, bigger than ever, a miracle in an era where factories shutter and manufacturing seems always either moving overseas or to the cheap labor South."
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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