-- 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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Still say it will never happen in Arlington Heights. The cost of the stadium structure itself is outta’ sight. Infrastructure costs are enormous. Tollway, IDOT, and Metra are broke. Environmental studies haven’t even been thought about yet. Interest rates have kicked up and won’t come down soon. There is no market for the commercial space the Bears are bloviating about. And who is going to buy the hundreds of residential units in the plan? And on top of that, the Bears owners are world class cheapskates.
There is a very good chance the Bears will move (surprise it is not out of state). The Shity of Chicago is no longer safe for anyone, even a bear.
Who can get along with the malignant cancer that Lori Lighthead is?
I mean anyone who is not a woke Leftist democrat?
I prefer to think of Lorius Maximus and her administration of flunky toads as Chicago’s Inept Evil Bizarro Clown World
Lori was toxic long before she became the mayor.
The communist has an authoritative nature and a tendency to overplay their hand. Lori naively believed she held all the cards, and that the Bears would submit to her will. But low and behold, the billionaires who own the Bears told Lori that they control the franchise, not Lori. The communist believes that they can impose their commie rules on capitalism and then are shocked to discover that it doesn’t work. They complain that rents are too dang high, and there’s no affordable housing, while at the same time wondering why the punitive landlord/tenant ordinances, rent control and difficult eviction… Read more »