-- 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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“It’s a bit of a sad story, because it’s the right company with an interesting product,” said Yan Cimon, a professor of business strategy at the Université Laval in Québec City. In a sane world, these so-called ‘experts’ would get fired for being this wrong. “…(Lion Electric) suffered another major setback when Quebec announced it would not invest $24 million in an effort to relaunch the company” When even the most doltish political animals see your scheme for what it is and refuse to (urinate) away more confiscated taxpayer dollars on it, you are done. Turn off the lights and… Read more »
Another progressive failure.
How many buses were put in service? Better question would be , who will do any repairs on them ? Sounds like the taxpayers got stiffed twice once by the manufacturer and then the school district who bought them!
What a surprise. Wonder where the hundreds of Millions of Tax payer dollars went…electric school buses in a climate that has 3/4 of each year with cold temps. Yep, another Illinois “investment”.
Best guess-With hybrid buses they would have had a much better chance of survival and profitability. Same with the Stellantis plant in Belvidere. They had no chance with EV’s only but now it looks like ICE cars or hybrids but not sure here.
What will happen to Stellantis with all the incentives to build EV’s and batteries? Will JB still give them and the new Trump administration with federal money?
Some certainly found their way into political animal coffers via contributions.