-- 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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So, today we learned — in a single day — that the following corporations are ceasing operations/closing high profile locations in Chicago
All of this following the loss of Fortune 500 companies Boeing and Caterpillar within a month of each other
How much more do you need to see to believe that Chicago is in big freaking trouble.
But TX and FL have more restrictive abortion laws, businesses can’t relocate there!
You guys better get out and quick
These companies are worth more in another state. How does one of these ceos justify to shareholders the reason to remain in IL. They can’t. Yabbada yabba that’s all folks
Their answer: But, but… Kellogg’s! They cannot admit they were wrong about anything.
Kellogg went woke a couple of years ago so they’re a perfect new business for Chicago.