-- 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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Crains is a liberal arm- stop buying a few years ago!
Crains has degenerated into non-investigative, party-line CRT/SJW babel, mostly “soft news” lackluster “reporting” that heavily relies on unreflective reprinting of press statements released by business and government sources. Crains lost its mission last year, perhaps due to Covid lockdown. I suspect its subscription base has substantially declined. Crains’ pandering to SJW crowd is its last-ditch effort to stabilize audience-count to appease its remaining advertisers. And all those “starter” apartments that are now rented? Those new tenants are mostly same young adults who spent last year cooped-up in their parents’ North Shore and north-side homes, who are venturing forth into their… Read more »
With the rent moratorium, can you just move in without any security deposit? Great location, marvelous view. All free! Come one come all! Will Porky expand the moratorium to parking and meals?
Includes outdoor shooting range, no membership requirements
Just saw the Amtrak PD having to shoot down a wanted murder suspect last night in Union Station. Loop is not safe.
All these child-less yuppies filling up apartments in Chicago yet Lori still can’t balance the budget.
Is Crain’s still considered legit? Stopped reading it years ago.
To me, Crain’s has long been an odd conglomeration for a “business” periodical. There’s a big dash of boosterism–more than there should be, perhaps, although that’s understandable for a local publication. There’s Greg Hinz covering politics and government with a defense of TIFs and the Illinois graduated income tax proposal and negative critiques of Wirepoints’ suggestions on Covid policy and government pensions. And then there are the Crain’s articles on real estate, which often sound as if they were written by your friendly neighborhood real estate agent or a developer’s PR firm. Alas, since they finally killed my last workaround… Read more »
All the criticism of Crain’s here seems misplaced as for this particular article. It’s really only a story on what Integra Realty Resources reported. I know nothing about them. If there is a problem with the numbers it’s with them. It seems odd to me, too, but Integra said what it said.
Crains lost all its appeal a few years ago
Get your apartment now! Avoid future disappointment and regret! Yea OK Crains!
“Governor Quietly Extends Eviction Moratorium Across Illinois”
How can this possibly be?
The usual suspects at Crains trying to boost occupancy in property the own. You can barely get downtown with all the moving vans pouring into the city.
Oh man, I thought Chicago was dead and no one was ever going down there again? This good news will not go over well with the Chicago sucks crowd.
Its obviously fake news meant for the brain dead, don’t you think?
Any story that doesn’t confirm prior bias is clearly fake news. The alternative is too painful to admit and if my opinion changed then my tribe would kick me out. Trump told people to get a vaccine and he was booed. If they will do that to their cult leader then what chance do I have?
👌🏼
Let’s interview rental brokers about the state of the rental market in downtown Chicago, they would never lie, or manipulate statistics, right? I mean, Michigan Ave is 1/3rd vacant, and street crime is soaring, residents can’t unload their condos fast enough with years of inventory, and the loop is a ghost town with offices delaying return due to the delta variant but lookie here, despite all the bad news, rents ARE THE HIGHEST EVER!
Your response seems reasonable, but apparenly its only speculation and should be taken as such. What’s reasonable isn’t necessarily true.
Just don’t believe everything you read. This story (if true) is only a glimmer of hope among a terrible, terrible economic forecast. A few thousand vacant apartments in downtown Chicago finally rent, after 5 miserable quarters, and Crain’s response is to interview a rental broker who screams “we’re back baby!” The real question is, and is unaddressed in the article, is how many units are currently vacant but not on the market; and how many units are in the pipeline. and comments like this ““From now through 2022 if not into early ’23, the owners are in the driver’s seat,”… Read more »
Are rentals up because the downtown schools are now having in person classes?
We should all apply for disability since they think we’re blind. Next we’ll be told there are no vacant hotels anywhere in Chicago! The recovery is going that we’ll! They’ve collectively fallen under the spell of ch7, where everyday is sunny and loads of fun!
And because the police have gone fetal and don’t arrest people downtown anymore, they can shout at the top of their lungs “CRIME IS DOWN!!!”
Possibly you have missed the news. The police are no longer allowed to enforce the law.
Get a room both of you!! Everything is unicorns and rainbows in chicago lol
I wonder if that was meant as sarcasm? Nobody but a Democratic could be that dumb! We’ll….. maybe!