And in 2007 when he worked his one day and paid his back years, he was around 57, so who knows when the effective retirement date was and if the state was on the hook for any back pay, etc.
Stellantis/Chrysler/Jeep shutting down the Belvidere, IL plant
- Thread starter GON
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GON
$100 Site Donor 2024
Former Park District of Highland Park employees taking home 6-figure pensions
Municipal retirees are not to blame for these costly pension benefits. Rather, those benefits are dictated by overly generous rules established by state lawmakers.
Former Park District of Highland Park employees taking home 6-figure pensions
Municipal retirees are not to blame for these costly pension benefits. Rather, those benefits are dictated by overly generous rules established by state lawmakers.www.illinoispolicy.org
I won't comment much on this as I'd probably cross the no-politics rule. Let's just say I think the wrong amendment was on the ballot in 2020 and end it there.
This happens too much. I went to dental school at UConn and the retirement deals they used to make with state tax dollars was crazy. One person was dean for a year and he gets $450K per year for the rest of his life. He is a full-time faculty member out in California now getting paid multiples of 6-figures there. Older faculty members were guaranteed $300-400K/yr pensions for life. Meanwhile, new FT faculty with their crazy student loans and all start at under $100k. The end result is most of the new faculty are either dual-degree with a DMD and PhD (school is free in the combined DMD/PhD program but there are only a few people per year in the program and so it's enough to fill open faculty positions) or they are foreign-trained because they do not have the education debt.Former Park District of Highland Park employees taking home 6-figure pensions
Municipal retirees are not to blame for these costly pension benefits. Rather, those benefits are dictated by overly generous rules established by state lawmakers.
FYI...the two top paid physicans at UConn have a salary of $1.2M each - they are both dermatologists.
Exactly my point on why I think that in the long run, this plant may end up with the Airflow, and or Hornet.
The guy bought into the pension system with $191k of his own money. So he basically bought an annuity.You have issues like a Union Lobbyist working one day as a substitute teacher and able to qualify for a pension.
Illinois justices back pension for 1-day substitute teacher
A union lobbyist who worked just one day as a substitute teacher is entitled to a pension worth potentially tens of thousands of dollars annually, the state Supreme Court ruled Thursday in an opinion…www.sj-r.com
The crooks get caught all the time here in IL, unfortunately they don't catch enough of them. Feel free to take a look at how many of our former governors have been serving prison sentences in the last 50 years. They just managed to finally catch Mike Madigan this year and hes been at the top of the Chicago political machine for decades. The data is there for those that actually want to spend the time to look into it. There are FAR more just like him that have been ruining this state for decades but its hard to catch them when they do so much to cover each others backs. I wish the Feds would get more involved and actually do something about it, probably 3/4 of the politicians from Chicago would end up in prison if they did.
Michael Madigan indictment: Former House speaker pleads not guilty in federal corruption case
Former Illinois House Speaker Mike Madigan entered a not guilty plea to racketeering, extortion and other federal charges on Wednesday.
abc7chicago.com
At better terms than you or I can get in the private market.
Probably not much at all, unless it's needed items to prevent a shutdown.
When the plant was busier, they'd have a daily dedicated auto parts train that ran to Belvidere. I haven't seen that in several years now.
GON
$100 Site Donor 2024
With this thread transitioning into costs/ environment being a potential reason this recently updated auto plant is being shuttered to cost of operations outside of the plant being a contributor- here is an interesting analysis/commentary on tax costs:
Tax friendliness reports ranked Illinois as the most expensive for middle-class families and second most expensive for retirees. Analysts cited high property taxes, sales taxes and income taxes as cinching the bottom spots.
New financial reports rank Illinois as the least tax-friendly state for middle-class families and second-least tax-friendly for retirees in 2022.
Kiplinger’s annual state tax analyses found Illinois’ second-highest property taxes, eighth-highest combined sales tax and above-average income taxes are costing middle-class families more than anywhere else in the country.
The reports also determined Illinois retirees pay the second highest rates combined in the U.S. for property, sales, income and estate taxes. Only retirees in New Jersey paid more thanks to the state’s inheritance tax.
Corroborating reports show Illinoisans paid the nation’s highest taxes in 2022, costing each family 16.8% of their annual income. The same family would pay less than 10% of their income to taxes in 30 other states.
This nation-leading tax burden is driven primarily by Illinois’ second-highest property taxes, which are double the national average.
The Kiplinger report estimates property taxes cost Illinoisans $2,241 yearly per $100,000 of assessed home values. That means the median state homeowner is predicted to pay about $5,688 in 2022.
If Illinois property tax rates continue to increase at their long-run average rate, the typical homeowner will pay more than $2,100 in additional property taxes over the next four years. For middle-class families and retirees concerned with higher costs, that could mean considering a more tax-friendly state — and many already are.
Nearly half of Illinoisans have thought about moving away, citing high taxes as their No. 1 reason. State lawmakers can limit future outmigration and entice more families and retirees to stay in Illinois by making property tax relief a priority.
Tax friendliness reports ranked Illinois as the most expensive for middle-class families and second most expensive for retirees. Analysts cited high property taxes, sales taxes and income taxes as cinching the bottom spots.
New financial reports rank Illinois as the least tax-friendly state for middle-class families and second-least tax-friendly for retirees in 2022.
Kiplinger’s annual state tax analyses found Illinois’ second-highest property taxes, eighth-highest combined sales tax and above-average income taxes are costing middle-class families more than anywhere else in the country.
The reports also determined Illinois retirees pay the second highest rates combined in the U.S. for property, sales, income and estate taxes. Only retirees in New Jersey paid more thanks to the state’s inheritance tax.
Corroborating reports show Illinoisans paid the nation’s highest taxes in 2022, costing each family 16.8% of their annual income. The same family would pay less than 10% of their income to taxes in 30 other states.
This nation-leading tax burden is driven primarily by Illinois’ second-highest property taxes, which are double the national average.
The Kiplinger report estimates property taxes cost Illinoisans $2,241 yearly per $100,000 of assessed home values. That means the median state homeowner is predicted to pay about $5,688 in 2022.
If Illinois property tax rates continue to increase at their long-run average rate, the typical homeowner will pay more than $2,100 in additional property taxes over the next four years. For middle-class families and retirees concerned with higher costs, that could mean considering a more tax-friendly state — and many already are.
Nearly half of Illinoisans have thought about moving away, citing high taxes as their No. 1 reason. State lawmakers can limit future outmigration and entice more families and retirees to stay in Illinois by making property tax relief a priority.
We are likely 2 years from leaving. The question is move over to MO or just head out to Idaho and find something to do.
oilBabe can retire in 2024, so the reasons to stay keep getting smaller.
Two of our kids live in Seattle already...
If we have grandkids in the future, it may be a no-brainer to move as soon as we can.
Of course, many of the same things cited before still apply. Downstate has a lower cost of living compared to the Chicagoland area, so it's not as bad down here as it is in that area.
Chicago likely distorts where the median as well as the per mille tax rates are comprising 2/3rds of the population, but maybe 10% of the landmass of the state.
@GON
Yea, everybody that I know who moved out of IL, tax was either the #1 or the only reason why they moved out. I don't blame them.
I would be interested to see if the plant permanently closes, what will happen to Belvidere and a chunk of Rockford. They're already not so great places to live in and there's nothing else worthwhile around those two places for businesses except for warehouses.
Meanwhile, our billionare governor takes the toilets out of his million dollar Gold Coast mansion so he didn't have to pay $330,000 in taxes, gets caught, and is still governor. That alone speaks enough about the state.
Yea, everybody that I know who moved out of IL, tax was either the #1 or the only reason why they moved out. I don't blame them.
I would be interested to see if the plant permanently closes, what will happen to Belvidere and a chunk of Rockford. They're already not so great places to live in and there's nothing else worthwhile around those two places for businesses except for warehouses.
Meanwhile, our billionare governor takes the toilets out of his million dollar Gold Coast mansion so he didn't have to pay $330,000 in taxes, gets caught, and is still governor. That alone speaks enough about the state.
It's a pity the plant has languished for many years, operating under-capacity by building slow-selling models like the Caliber, Compass, Dart etc.... They could move some Wrangler production here and the place would be back to three shifts just like that.
Ford still has it's plant on Torrance Avenue in Chicago.... But they keep it hopping by building SUVs there, not sedans.
GON
$100 Site Donor 2024
An example might be a defective batch of heater cores. The heater cores must be installed during the assembly process, and it is not economically feasible to install a heater core after the assembly of the vehicle is complete, as might be feasible with a part like an alternator.
If the heater cores are made in let's say Taiwan, the core could arrive non-stop on a freighter from Taipei to Rockford IL and be off the plane and to the Jeep factory in under one hour after the plane landed in Rockford. That would get the line moving again. I am sure many other like scenarios could be imagined- for the possible benefits of having a super-efficient air cargo support for an automotive assembly facility.
The Rockford air cargo airport has the runway that can handle any size cargo aircraft to include the Boeing 747. I believe the airport is a hub for both AMZN and UPS for air cargo.
As someone who is in the auto logistics business, Belvidere is considered 'out of route' by most trucking companies. Any load going in there has a toll surcharge added as well as extra money to get your now empty truck back to an area with good outbound freight. Before anyone says Chicago, freight out of Chicago is dirt cheap because the city is full of bottom feeder type trucking companies. Torrence Ave, gets a bit of a pass as tolls are low (or none) and you can get quickly back into IN or at least over to Bolingbrook/Joliet area to get decent freight.
I hope they don't permanently close it, good people there and it's a nice area.
I hope they don't permanently close it, good people there and it's a nice area.
GON
$100 Site Donor 2024
PO,
This might explain when I drive the interstate from coast to coast, I see so many small trucking companies with the address on the truck of places like Elk Grove, IL. Addisson, IL, Wood Dale, IL, etc "freight out of Chicago is dirt cheap because the city is full of bottom feeder type trucking companies"
Air freight is STILL USED.....
BMW in Spartanburg basically spec'ed the new airport when it was built.
An airport was located beside the Spartanburg site, and the state had rail infrastructure. But at the time, these assets weren’t quite where they needed to be to suit BMW’s requirements.
In the early 1990s, there were no international flights going through the Greenville-Spartanburg Airport. Part of the agreement that brought BMW to the state was contingent on the airport extending its runway to allow the automaker’s Transatlantic 747 cargo planes to land — less than a 10-minute drive from the factory site, according to Automotive News.
And the facility’s cargo volume shot up quickly as soon as BMW started operations in the region, increasing 344% YoY from 1992 to 1993. Volume has seen been on an upward trajectory, according to figures from the airport.
www.supplychaindive.com
BMW in Spartanburg basically spec'ed the new airport when it was built.
An airport was located beside the Spartanburg site, and the state had rail infrastructure. But at the time, these assets weren’t quite where they needed to be to suit BMW’s requirements.
In the early 1990s, there were no international flights going through the Greenville-Spartanburg Airport. Part of the agreement that brought BMW to the state was contingent on the airport extending its runway to allow the automaker’s Transatlantic 747 cargo planes to land — less than a 10-minute drive from the factory site, according to Automotive News.
And the facility’s cargo volume shot up quickly as soon as BMW started operations in the region, increasing 344% YoY from 1992 to 1993. Volume has seen been on an upward trajectory, according to figures from the airport.
How BMW turned Spartanburg, South Carolina, into a supply chain hub
The automaker approached the state and Norfolk Southern with a plan for an inland port that's now used by shippers from Adidas to John Deere.
Well, Still wondering why this thread talks more about the politics of Illinois what is happening to the Cherokee…..
Anyways, as a few have mentioned, The current Cherokee has outlived is usefulness, and is officially done now. (Thank goodness) The Compass will soon be done as well, as both get replaced by an EV Jeep.
The focus for Jeep now is the money models, and the rest EV models.
Anyways, as a few have mentioned, The current Cherokee has outlived is usefulness, and is officially done now. (Thank goodness) The Compass will soon be done as well, as both get replaced by an EV Jeep.
The focus for Jeep now is the money models, and the rest EV models.
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