-- 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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You won’t hear squat from Jabba on this news. But if a company employing 8 people that make wiper blades for electric vehicles should move to Illinois, get ready for a parade.
Funny, and absolutely correct. Jabba banging away on a big bass drum with knee-actuated cymbals crashing, and Little Lori behind him tooting away on a kazoo while wearing a propeller beanie on top of her tin-foil hairpiece.
I hope Bailey brings this up in the debates along with all the other companies that moved out including Griffin. I think the debate is on tonight on Fox at 7:00. Hope Bailey talks about all the tax increases Pritzker instituted and what that costs the average taxpayers who still have their toilets. (Had to sneak that in).
That’s 1000 happy employees!
The end is closing in
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This flight of corporations from chicago will not end until the city and state stop jamming anti business policies sideways up the bum of businesses who aren’t on the friends and family programs.
Recruitment is a huge problem too. Difficult to recruit people to come to Chicago. Half the country – the center of right crowd – outright rejects the idea of living in a progressive utopia with mobile abortion clinics. It’s not even a consideration. It doesn’t matter how good the job opportunity is there’s always somewhere more attractive than Chicago for any normal person. The only conservatives I know in IL are the ones who grew up here. Virtually every transplant I know is a Democrat. Working in the corporate world I’ve met many transplants. Chicago is (was?) a major midwestern… Read more »
Chicago is typically a Tier 2 choice for liberal graduates on the national scale as it is. They’d rather live in NYC/LA/SF/SEA/POR/ATX. Chicago is their fallback.
The corporate conga line of companies leaving Chicago continues
Wow, they just did a total gut rehab of a building in the west loop too. What does that say about your city / state when a fortune 500 abandons a brand new HQ for Arkansas?
How long before the professional services corporations leave…lots of big firms have offices in Chicago or are headquartered here.
Would these even make headlines, outside of the biggest national firms? How many trading firms have followed Citadel out?
I think they leased it. Post-rehab, it was occupied by Hillsboro who then merged w/ Tyson.
https://sterlingbay.com/properties/tyson-foods-hq/