One more reason for the City and for other over-stretched city-affiliated entities such as CPS. It would be salutary to negotiate certain matters (such as pensions) prior to filing, but I think filing will be necessary (1) to get all obligation amounts on the table with realistic numbers and (2) to force negotiators to the table. In Detroit the court ordered that a certain percentage of union members approve the final settlement. (I forget if those were actives only or included retirees.) Also in the Detroit bankruptcy the state ponied up some money to avoid sale of city-owned art at… Read more »
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
One more reason for the City and for other over-stretched city-affiliated entities such as CPS. It would be salutary to negotiate certain matters (such as pensions) prior to filing, but I think filing will be necessary (1) to get all obligation amounts on the table with realistic numbers and (2) to force negotiators to the table. In Detroit the court ordered that a certain percentage of union members approve the final settlement. (I forget if those were actives only or included retirees.) Also in the Detroit bankruptcy the state ponied up some money to avoid sale of city-owned art at… Read more »