-- 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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Video Killed the Railroad Star Long a shining star in the realm of government operated railroads, Metra had a well-earned reputation for both service and accountability. More recently, the agency’s reputation has been tarnished by scandal and the rolling hasn’t been nearly a smooth as it formerly appeared to be. Metra has its issues, for sure, such as the expensive government procurement process that guarantees that Metra will pay far more for its purchases and projects than private sector business. Metra suffers from an addiction to OPM, playing around with battery locomotives that have no real utility to the carrier,… Read more »
Commuting on Metra still sucks. It’s to be expected when Mike Madigan picked all the people that work there. They still haven’t figured out that the direction of all the escalators at Union Station need to change in the morning and afternoon.
These ridership numbers do not look like they can keep Metra viable long term.
Kastle Systems only has Chicago at an average office occupancy rate of 41.6%.
Wait until downtown businesses stop renewing their leases or reduce their square footage.
https://www.kastle.com/safety-wellness/getting-america-back-to-work/
All of the former Loop workers who were going to return to their office have already done so. The rest have quit, retired, or are working remote. Metra needs to find a way to accept the new reality
My spouse’s downtown employer is having trouble filling long open positions because they require 2-3 days a week in office time. Candidates say downtown is too far to commute and far too dangerous for people to be using public trans before or after rush hour. This is going to be a problem going forward until the job market craters. We’ll see if employers get that leverage back, or, will the best candidates still want mostly remote work.