-- 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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A broken clock is right twice a day… I’ve always been pro-business, and as a business owner, not being able to hire a great prospective employee because of a non-compete and non-solicitation always struck me as anti-competitive and anti-business. These clauses protect the employer in the sense that they insulate themselves from competition. This is one of the few laws that makes sense in IL. They are getting it right. And if some employee manages to ‘steal’ your customers (too bad, so sad!) that’s called the marketplace, and your stupid non-solicitation meant to put a moat around your business model… Read more »