-- 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 writer is much too optimistic, touting all the typical Chicago talking points which every article like this has repeated for decades, Every single talking point is trumped by rampant crime and violence. Who cares that there’s great architecture when you’re lying flat on a sidewalk bleeding? The author saying that Chicago will remain an important “financial node” as long as the CME remains in the city is missing the point. The CME is really a server farm in Aurora, an electronic portal for the world. That’s why Citadel could leave and trade from anywhere. In fact, the CME could… Read more »
As I’ve been saying for years, when the pipeline of Big 10 frat boys and sorority dries up, it’s look out below!
I’m thinking that parents of coeds would rather not have their daughters move to Chicago right out of college.