-- 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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Put this plant in JBs neighborhood to next to the capital. Let those who love pollution and China enjoy it
Not only do I like China, but I just love many of their products. Competition from China makes Americans work smarter and harder. This is a good thing for the free marketplace. I have friends from China and their families are just like everyone else’s.
Look at Kenosha Wisconsin and Foxconn, what a rip-off of the taxpayer’s money.
Under a new agreement announced in April 2021, Foxconn will reduce its planned investment to $672 million with 1,454 new jobs. Tax credits available to the project were reduced to $8 million. In April 2023, Microsoft purchased a site with the project to build a data center.
Opponents of the project in Manteno regard this as exaggeration because there is little indication the project is that far along. However, Gotion is continuing with hiring.
Question. When Gotion hires do people go on an actual payroll with weekly paychecks or are they put into a pool of individuals that are hired but waiting for the plant to open? There is a big difference.
I don’t know. However, some work is proceeding at the plant with some workers moving equipment in, installing bathrooms, etc. I assume they are getting paid.
I can assume then that there is a skeleton crew at the moment; a situation that pales in comparison to Pritzker’s media headlines. Another headline Pritzker hoped would get him the Presidential nod unravels.