-- 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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Maybe Playa and Gates can pool their seemingly endless resources and buy the team and, predictably, re- brand them as the Black Soxx. They could hire the obese CPS teacher from Oswego that snuck a gun into the park in her stomach folds as head of security.
Hate to say it, but the South Side and the West Side past the United Center just are not good sites for a stadium any longer. Crime, traffic, dangerous public transportation– all the obvious things that scare fans away are present out there. The Sox probably should move to a growing, safer market such as Orlando, Nashville, Las Vegas. All those wonderful platitudes the Mayor just spouted off don’t address the problems that he doesn’t want to admit exist.
Reinsdorf is 88 years old. He said that after he dies, he knows the consortium or the investors who will take over his sizable portion of the Sox ownership will most certainly either sell or move out of state. It’s a done deal.
Sure, lecture Reisnsdorf. That’ll help.