-- 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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Tyson choosing northwest Arkansas as a place to grow their talent pool instead of Chicago should be a wake-up call. Chicago acts like its companies owes them something when it’s the other way around. “We have an orchestra” don’t mean crap to 99.9% of the population. Streets festivals are everywhere.
Fayetteville ranked #7 by US News as best places to live. Don’t sleep on these smaller metro areas or they will eat your lunch.
It is a matter of attracting talent. High taxes and crime are the biggest impediments to attracting talent. This is what drove McDonald’s CEO to make his recent statements about Chicago. He wasn’t making a casual observation – they are no doubt losing out quality hires. Location matters even more in a recession because companies typically cut back on less experienced professional hires (e.g., college hires) and need to get by on experienced and very efficient talent. The lure of working in a major city just isn’t that big of a deal to man established professionals, especially when one puts… Read more »
If Californians keep leaving for Texas it won’t be long until Texas turns blue. Factor in the illegals pouring in and Texas will look like California in 10 years.
Well perhaps corporations don’t like to be considered patsys or tax donkeys for Dems….
According to Frank Manzo @ ILEPI Amendment 1 is going to attract companies to Illinois???….who the hell else buys into sipping this kool-aid??
Not often discussed, but one has to wonder if Illinois super lawsuit friendly legal industry isn’t also a huge factor in companies moving out of chi/ill?…..as the lawyers associations are just as big a part of the machine as the public sec unions
Lawyers only argue the cases. Lawyers for the Plaintiffs and lawyers for the Defendants. Each presents their case. The Judge just controls the procedure of the case. The juries consisting almost entirely of Democrat voters award the $$$$$ jury verdicts. These jury members would just as easily find for the defendants but they do not. Remember, Kyle Rittenhouse was charged with murder in a mostly red county (even though the Democrats by a miracle held a few public offices). A jury of mostly Republican voters found him not guilty. But if Kyle had showed up in, let’s say, Waukegan or… Read more »
Among other reasons, I consider that shareholders (who indirectly control such things) are putting pressure on boards to find more hospitable HQ. One could point to “rats leaving a sinking ship” but that’s unfair to the rats. The question is whether the ship is sinking, and the evidence points to that conclusion. I’m not a fan of the “no evidence” argument in election contexts because once secret ballots have been cast there really is no concrete court-admissible evidence. However, there are other facts and trends that can be counted as evidence in the court of informed public opinion. Admissible or… Read more »