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At 62 acres stretching south to 16th Street, “the 78” is one of Chicago’s largest undeveloped parcels — and certainly the most strategically located. But it has somehow eluded development for decades. Once owned by convicted political power player Tony Rezko, the potential site at Roosevelt Road and Clark Street was one of several sites in the running for a Chicago casino now planned for River West.
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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Move da Suxs to Nashville and rename them da Nashville Banjos!!
This is nothing more than a bargaining play by the [comment deleted]
Just remember– the fellow you are referring to in a negative way has brought more sports championships to Chicago–six NBA and one World Series– than anyone else of any ethnic persuasion, no matter what kind of hat they wear. And his multi-multi-multi seven figure annual charitable gifts spread all over town don’t get anywhere near enough recognition because he doesn’t brag about them. Do you really want to compare his track record with any of the other sports team owners of the last fifty years?
[Deleted].
I don’t recall ever seeing a comment on Wirepoints from a screaming anti-Semite, but I guess they are everywhere.
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You know there’s a cap fax poster on a VPN posting this crap, so they can later say “THE CARNIVAL BARKERS AT WIREPOINTS ARE ANTISEMITIC” . Politics are dirty and WP is a thorn in the side of the one-party ruling state in IL. Don’t say “oh they wouldn’t do that”. Oh yes they would. The Democrat Party paid for and set up a completely fake candidate from the new ‘Conservative’ Party to run against Rauner, and the Democrat Party then let him misspend their own fake campaign money, and after he lost, they turned him to the feds, who… Read more »
Don’t know how that slipped through. He’s outa here now.
Yet he received 6 upvotes while old spartan had 6 downvotes for pointing out the bigotry. As Spartan noted, “they are everywhere”.
Augustus, you and every other bigot can hit the road (and rot in hell).
Likely fake, astroturfed comments. I wouldn’t read too much into them. Some intern at some Democrat ops organization is laughing his or her butt off right now.
We didn’t get to see his bigoted remarks, Mark. You censored his speech.
But curious if your judgment to “rot in hell” would extend to those denigrating white Christians on this site? Or any other site for that matter?
Oh, please.
Stupid idea but the most everything in Chicago, Cook County and Illinois is
That is a good location, but the Sox should have moved there when they left the original Comiskey Park in 1990, not now.
The Sox should follow long term population trends and move to a warm weather location like Nashville or Jacksonville. If they stay in Chicago, instead of playing in an old empty ballpark on 35th Street, they’ll be playing in a new empty ballpark on 12th Street.
One option rarely mentioned is Louisville, which has no pro sports teams but still has a strong sports base of college level baseball and baseketball, and football. As the only pro sports team in the town, the White Sox would be kings. But if they stayed in Illinois, they’d be better off moving to the southwest suburbs closer to their fan base. MLB’s fan base, statistically, are middle aged or older white guys in the suburbs. Those guys are rarely come into Bridgeport to watch a game. I once heard on the radio that only about 50,000 people watch Cubs… Read more »
The problem with Louisville is that it’s in Kentucky, which is the rare Southern state with bad finances. It also doesn’t have the vibrancy that Nashville or Jacksonville have. Another factor in the era of player mega million dollar contracts, zero income tax states like Tennessee or Florida are a big draw for players. I just read that the Florida hockey teams have an easier time negotiating the NHL salary cap limits, because their mega contracts can be a bit less than other states because the players know that they’re saving millions in taxes. Obviously this is not a primary… Read more »
Your comment about Florida state taxes is right on. That’s why a Canadian team has not won the Stanley Cup in over 20 years. None of the good players with the huge contracts want to play in Canada because the combined fed and provincial taxes can be 25% higher that Tenn, Florida and PHX. Just another example of how bad government tax policies screw up the private sector.
You are correct, last Canadian Stanley Cup win was 1967. I almost noted that in my comment.
Canadians won in 1993. Edmonton won in 1990, Calgary won in 1989. Edmonton 87 and 88. Canadians won in 1986. Edmonton won in 1984 and 1985. Since 2010 we’ve had 3 Blackhawks wins, 2 LA Kings wins, 1 Boston, and 1 Capitals win. Those winners are not from low tax states. I’m not saying high tax states don’t cause problems for sports teams. I remember when Lebron was between the Knicks and the Heat and the analysis showed that he needed at least 10-20 million more from the Knicks to make up the difference. I’m just pointing out that low… Read more »
Louisville is more a Reds town that is already home to AAA Reds affiliate. Lots of Cardinals fans there as well.
Nashville is a proven market was professional sports and would be the top choice for any MLB team looking to relocate.
I was just in Nashville to watch the Blackhawks, and that is one vibrant city. Horrible traffic, but that’s the price of progress.
Hmm, make it dual use. Bears problem solved. Forward my consulting fee to Wirepoints.
The casino window has closed, that boat has sailed, the area is saturated.