-- 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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Another job killing turd of a bill from IL Democrats
Oh great, more reasons for manufactures/ distribution warehouse to move to Illinois?
Also, this was in today’s WSJ:
—In the last five months of 2022, employers cut 110,800 temp workers, including 35,000 in December
https://www.wsj.com/articles/companies-cut-temp-workers-in-warning-sign-for-labor-market-11674524006?mod=hp_lead_pos5
Non-compete clauses should be eliminated for most workers. If you are an average Joe six pack worker why should a company be able to have a monopoly on your labor? Some guy sweeping up a warehouse has intellectual knowledge that shouldn’t be shared with the competition? “XYZ corp uses the ULINE broom”. Better protect that proprietary information. Desperate workers sign these and then they are stuck with a low wage job with no hope of bettering their lot in life.
They should be eliminated in most if not all situations, which, based upon my layman’s understanding, is sort of where the law is at in IL right now anyway. The non-competes, for the most part, don’t exist to protect the employer. Rather, they exist to harm competitors and reduce the size of the hiring pool for their competition. It’s just another anti-competitive moat that businesses erect around their fiefdom to prevent fair competition among employers.