The Sun-Times reported last week that the talks with white collar and building trades unions heated up last month after Moody's Investors dropped Chicago's bond rating another notch, citing "massive and growing unfunded pension liabilities" that "threaten the city's fiscal solvency" without "major revenue" and budget cuts in the near term and for years to come. The drop — from A3 to Baa1 with a negative outlook — came eight months after Moody's cited the same concerns in ordering an unprecedented triple-drop in the bond rating that determines city borrowing costs. "Moody's has taken an extreme position.