-- 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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The low to middle end department store is dead and has been for a long time. Come to think of it, the high end department store is dead too.
Orland Square Mall opened 40 years ago with a Jacques Penné, Sears, Carsons, and Marshall Fields. 3 of those 4 anchors are now gone. Miraculously, there were recently able to replace the Carsons with a Von Maur.
I’m old enough to remember when they opened another mall across the street from Orland Square. For years, the mall remained largely vacant, absent 2 baseball card/coin shops. Think it was built w/ 80’s S&L money.
https://malls.fandom.com/wiki/Orland_Park_Place
I honestly didn’t know they were still in business. Is Kmart still in business? I wouldn’t know that either.
Is anyone surprised? Does anyone care other than Penny employees?