-- 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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We don’t want to speed up production because the electric grid in this country can’t handle it.
What’s the average, off-the-dealer-lot price for a new Rivian? I’m guessing it’s at least $70K. Many Americans can’t afford that, and many Americans that can choose not to buy one.
Another part of the equation is the rapidly-changing EV battery technology. In five years from now, when many EVs will use steady-state batteries, will your 2025 EV be able to be retrofitted? If so, how much will that cost? If not, how much loss in resale price will you suffer?
Poor JB, all his clean energy/EV job creation “closing deal” job creation stuff sure just got it’s clock cleaned with BBB….how many $millions$ in taxpayer subsidies where just flushed away today?
Another of Pritzker’s taxpayer paid for schemes designed to create headlines for his planned Presidential run shows its true colors. It might have worked but things unfolded as they did for the Democrats. Now the Illinois people are having to face the real ramifications of Pritzker’s follies including the higher taxes resulting from it all.
Who is Rivian’s PR flack? Jon Lovitz?
Useless media type:
“We see you producing half of the units that were originally planned. What is driving this shortfall?”
Lovitz:
“Well…we are making trucks…yeah…and …we don’t…wan’t to flood the market with them. Yeah! That’s the ticket!”
Lion Electric on steroids. Another Illinois government success story brought to you by JB the Hutt, all paid for with your money.
Leave it to IL Democrats to waste money on Rivian subsidies — trying to make EVs a thing when nobody wants them.
That any company is subsidized by the taxpayers of IL is beyond disgusting. Do the taxpayers get a price break on the vehicles that they helped finance? No. Do they get them for free? Hard no. They get a piddling tax credit which will evaporate as quickly as it materialized and will become a liability when the costs of recharging the batteries and the road tax the Marxists are drooling to institute kick in.