-- 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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Pritzker is still covering up the size of the Stellantis incentivize package he gave. Crain’s earlier said it would likely exceed the Gotion handout, which was $536 million. Our press, of course, never bothers to ask Pitzker how much the Stellantis deal will cost.
And moreover, that Stellantis plant has a near 100% chance of being idled again in the near future when the forthcoming 2nd Great Recession comes. Look at the light vehicle sales chart from the St. Louis Fed below. Look how low light vehicle sales went during the Great Recession when new vehicle sales were nearly cut in half, and it took 7 years to recover. Moreover, in the industry, at least as I understand it, Stellatis has a major brand problem issues, because they have a reputation for overpriced and poor quality vehicles, which is reflected in their sales figures.… Read more »
Stellantis sales have been in the dump in the past decade and can’t seem to recover. JB giving them a billion dollar deal is just another example of JB finding the nasty ugly girl alone at the end of bar at 2 am and bringing her home, believing he caught himself a supermodel, when he’s just given himself a STD. He’s just a horrible, terrible deal maker, just giving away money at terrible companies that likely won’t ever hold up.
https://www.businessinsider.com/jeep-sales-falling-iconic-brand-inventory-piling-up-2023-8
The complicity of the mainstream media is a disgrace. We might as well have no media at all.
Volkswagen (the beard for CCP at Gotion) has just gotten a ‘naughtyboy” for using Muslim minority slave labor…sounds like something the Pro Hamas crowd should get het up about.
(Violation of the Uyghur Forced Labor Prevention Act of 2021)
https://www.motortrend.com/news/vw-group-porsche-audi-bentley-forced-labor-parts-western-china/
120 that regret voting blue. They’ll be more, millions of illegals have to work somewhere. Si!
Yeah I regret going back to work and the future of Belvidere auto manufacturing and parts distribution being saved by YOUR president and the one who did what he said he would and not like the lying criminal Trump that promised the people of lordstown Ohio of saving american jobs what a useless piece of $%## he is. Did nothing for you or anyone of everyday americans but raise your taxes and benefit from you idiots that think he is a smart business man. That’s why his products are made in China and he still finds a way to bankruptcy.
Trump has his issues, as does the current resident of the White House, but you have a major credibility issue when you say Trump raised taxes on everyday Americans. He lowered tax rates across all brackets and doubled the standard deduction. This no doubt benefited everyday Americans more than any group. Of course, if you are one of many that paid no taxes, it wasn’t possible to lower yours.