-- 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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Lori’s decision to let BLM rioters sack the Mag Mile twice sealed its fate. They only had to sack Detroit once to start them on their way to where they’re now…..
Downtown Chicago’s losses are the suburban downtowns’ gains. Suburban downtowns are booming. I don’t have to travel very far to get a little of the lakeview or west loop experience on a smaller and more affordable scale. This experience did not exist even 10 years ago in many of these suburbs, and it is wildly popular because many suburbs seem to be trying to recreate it. Most middle class suburbs of 30,000 or more people can support at least several blocks of restaurants and shops in a downtown or town square like area. This model fails however when lower class… Read more »
Not just downtowns.
https://www.yahoo.com/finance/news/target-closes-9-stores-in-response-to-retail-theft-adds-locked-cases-at-some-stores-190623263.html
The Mug Mile is on life support. No one wants to risk their lives to see empty storefronts.
Businesses have been threatening for 3 years to make office workers come back — they haven’t been able to do that so far. Too many of their best workers would go find a new remote job the next. day.