-- 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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I’m sure this bill will help solve the systemic racist disinvestment food desert situation?
Hire Madigan-Burke Security Systems and you will never have a problem again.
In the state’s defense, usually businesses have to pay politicians for protection.
The Chicago protection racket worked quite well for Capone so now the Democrats are reinventing it. I wonder what took them so long to figure this out?
This is the Curse of doing business in Illinois. Pay top dollar for cops and get Zero, pay top dollar for teachers and get zero education. This story is repeated all day long. Some of the highest taxes in the country and worse results. There is no turning back now, the Illinois cancer is terminal. Government does not work for the people; the people work for the Government. And if you do not like it you can LEAVE.
This is a flat out confession of ineptitude by the City. Pay your taxes for a service and we are not going to provide it for you.
It is not just the direct costs of hiring security personnel. The liability behind engaging armed guards is significant. A business could encounter massive problems with insurance, as well as lawsuits.
I might add that Fortune 500 companies, who more often than not hire top rate security personnel, avoid arming them at all costs. I recall a new security company showing up at a client facility with their people armed. The contract was terminated for convenience promptly. These sophisticated corporations know all too well the risks at hand (and many of them are self insured).