-- Connecting the dots between our economy, government and business --
Automotive Inc.’s factory in Normal, Ill., life is anything but. Shares have been hammered in recent months after setbacks on the factory floor, in one of the auto industry’s toughest operating environments in memory. Factories around the world routinely churn out models around the clock. About eight months after production on Rivian’s electric trucks started, executives recently marked a milestone in uninterrupted work days: The company’s plant ran at full speed for an entire 10-hour work shift for the first time.
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.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
Let’s go back to 1958 when Ford introduced the Edsel. Its oval grille inspired some wags to say it looked like an Oldsmobile sucking a lemon. The Rivian truck apparently took some design inspiration from the old Edsel when designing the head lights. The new truck kind of looks like two Oldsmobiles sucking lemons in a tight formation. I don’t know if it is a good truck and I will never know for sure, because it sure won’t fit into my budget. I spent a lot of time in the Bloomington Normal area and I wish Rivian and the all… Read more »