-- 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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IL has this right, for once. Non-competes are anti-competitive and restrict the free market. They prevent other businesses from growing or competing when their competitors have locked up the marketplace for employees through draconian measures of restricting labor from entering into free contracts. It’s also anti-consumer because by unfairly restricting competition, it drives up prices for everyone. Companies can whine that they make an investment only to have other companies steal their employees – too bad then. Pay your employees enough money in the first place so that your competitors can’t poach them. And especially when it comes to low… Read more »