-- 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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If Debbie Dingle and Rashida are complaining it’s probably a good thing. They want Stellantis to honor their commitment, when doing so would put every Stellantis employee and plant at risk. Nobody wants their garbage EVs, but these yo-yos want them to produce them anyways. This is an example of a toxic mix of an exceedingly bad company and progressive politicians wasting billions.
Given that Dodge, Chrysler, Jeep, and even Stellantis itself are on shaky ground, I’d highly doubt Belvidire Assembly ever gets re-opened. EV sales are falling and car makers who are able to have pivoted to hybrid drivetrains. Stellantis has botched the launch of the new generation Dodge Charger (the coupe will be all EV, the sedan should be ICE, but with a straight 6 engine, and not the chance of a V8 which made the old models special). It was to be a 2024, now a 2025 (maybe), perhaps a 2026. Besides that you can get a Hornet, which is… Read more »