-- Connecting the dots between our economy, government and business --
“I’m the leader of my family and I’m the leader of my company,” said Keith Hoogland, 62, whose great-grandfather settled in downstate Illinois in the 1870s. “I think what’s best for my family and my company is to leave Illinois.” The entire commercial real estate portfolio covers 22 states and is valued at over $800 million.
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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Pritzker and Co are probably again saying no big deal, we’re getting one of Kellogg’s 3 divisions! What’s the loss of a couple thousand employees and millions in tax revenues when IL is getting Kellogg. The tough loss is the charitable contributions that are drying up.
JB will get his Pop Tarts so everything is good.
Anyone in Illinois with a portable business is either thinking about leaving or is already gone