-- Connecting the dots between our economy, government and business --
The owners of the United Center have revealed more details of their $7 billion plan to redevelop the arena's surroundings, seeking city approval for nearly 9,500 apartments, more than 1,300 hotel rooms and a residential high-rise that would dwarf buildings in the surrounding area.
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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Who’s asking for this? People going to the UC high tail it out of the area as soon as the event is over. This sounds like another Reinsdorf pipe dream, with the Wirtz family riding shotgun. How much public assistance is Reinsdorf asking for this one?
Thereby relocating the miscreants that call that area home to a neighborhood near you. Enjoy slaves.
Bingo got to get the … out first!