-- 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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No worries, ShaNiQuas Nail & Wig Salon is looking for a new storefront business to open. Business will be booming at the new Slum Mile location.
Soon some tenant will simply abandon their business, no turning in the keys or initiating property transfer. Just leave it for the city. Retain Lori? The city is collapsing and Lori is painting crosswalks.
Another Downtown Building Owner Dumping Chicago