23,000 Jobs on the Line
Caterpillar has been based in Illinois for decades. It is one of the Dow Jones Industrial Average companies. And now, thanks to Governor Quinn, all of that is in danger:
- The chief executive of Caterpillar wrote a letter to Illinois Gov. Patrick Quinn raising the possibility the heavy equipment company could move out of Illinois because of concerns that the direction the state is heading isn't favorable to business.
In a letter to Gov. Pat Quinn obtained Friday by The Pantagraph of Bloomington, Doug Oberhelman said officials in at least four states have approached Peoria-based Caterpillar about relocating since Illinois raised its income tax in January.
"I want to stay here. But as the leader of this business, I have to do what's right for Caterpillar when making decisions about where to invest," Oberhelman wrote. "The direction that this state is headed in is not favorable to business, and I'd like to work with you to change that."
There seem to be only two ways for this to go. One, Quinn grants all sorts of tax breaks to Caterpillar, all of which reduce the amount of money coming into government coffers. Or two, Quinn says "No" and Cat leaves Illinois, thereby reducing the amount of money coming into government coffers along with costing up to 23,000 people their jobs, all of whom will want government relief in some form or another.
Another step on the road to Detroit, Michigan.
Another step on the road to Detroit, Michigan.
Labels: dumb ideas, state politics
posted by SCC at 12:01 AM
58 Comments:
If you read the Pantograph article it turns out to be EIGHT STATES after CAT.
Lets once again thank the Green, Cohen and Libertarian voters
im not very good in politics and what can and cant be done but at this point can the income tax be repealed by the gov at anytime or is it always here to stay?
Atlas Shrugged.
So much for the shared sacrifice and the "we;re all in this together bull shit.
You can bet your ass that one by one these companies will be granted tax breaks to offset the tax increases leaving only the middle class to foot the bill and feel the pain.
Washington spent about $1.4 trillion dollars to juice this economy and I don't see one single job outside the temporary "pit Illinois to work" 100% government subsidized min-wage jobs designed to obfuscate the unemployment numbers.
See we're all suppose to go hey look the jobs are coming back and people are going off welfare when in effect the government supplied tax dollars are only coming out of another pocket.
Yeah they received a temporary part-time min-wage job and are off welfare, unemployment and food stamps however not they are on a government 100% subsidized temporary job.
What a joke!
Cat is using the crisis -- not letting it go to waste. Their letter amounts to financial terrorism and extortion. Give us tax cuts or we'll behead these careers and idle or move the Illinois workforce. Yeah, I know -- they didn't come out and say that directly nevertheless all one has to do is look at the actions.
We are witnessing the largest transfer of wealth as these mega corporations go tax free and continue to push the burden of running the government, it's health care and security forces onto the middle class.
Anyone that doubts it only needs to look at the headlines for GE. Another billion dollar company that did not pay a dime in income taxes because the profits are all held offshore out of uncle sams reach. It's what ALL the corporations are currently striving for while the middle class gets fed the bull shit about them "creating the much needed jobs" so it's all okay.
This is so sad and scary that all the democratic voters should wake up!!! I know many of you guys hate republicans for some reason, but when your party has been in charge of Illinois for ages, it's now time to try the other team. Something has to be done or Illinois will sink.
Quinn and his friends in Springfield are so anti-business that now we have one of the largest companies in North America considering leaving because of them. Thousands of jobs and millions of $$$$ in business will be lost. What a disaster Illinois politicians are for business. Indiana will be licking their chops. SOS!!!!
MORE TERRIBLE NEWS for ILLINOIS!!!
Thanks Quinn!!! The new Illinois state slogan should be, "Illinois, We're bad for business and the productive, but a great place to stay for the lazy." Illinois continues to drive away the money makers by taxing them to death, but welcomes the non-earners with free handouts and entitlements. I think it's too late to turn the state around. Especially with 4 more years of Quinn and a democratic Springfield. Keep voting democratic.
Why Are the Media Ignoring Plans By George Soros to Remake the Entire Global Economy?
By Dan Gainor
Published March 23, 2011
FoxNews.com
"Two years ago, George Soros said he wanted to reorganize the entire global economic system. In two short weeks, he is going to start – and no one seems to have noticed.
"On April 8, a group he’s funded with $50 million is holding a major economic conference and Soros’s goal for such an event is to “establish new international rules” and “reform the currency system.” It’s all according to a plan laid out in a Nov. 4, 2009, Soros op-ed calling for “a grand bargain that rearranges the entire financial order.”
"The event is bringing together “more than 200 academic, business and government policy thought leaders” to repeat the famed 1944 Bretton Woods gathering that helped create the World Bank and International Monetary Fund. Soros wants a new “multilateral system,” or an economic system where America isn’t so dominant.
"More than two-thirds of the slated speakers have direct ties to Soros. The billionaire who thinks “the main enemy of the open society, I believe, is no longer the communist but the capitalist threat” is taking no chances..."
http://www.foxnews.com/
opinion/2011/03/23/media
-ignoring-plans-george
-soros-remake-entire
-global-economy/
Just what this state needs - a Fortune 500 powerhouse leaving. Talk about voting with your feet. What? You mean tax increases are bad for business growth and investment, not to mention consumer spending? Great job Quinn: way to go on listening to the constituents who really matter, as opposed the flunkies who vote for your lame duck ass.
All these politicians know how to do is tax and spend and kill business. Fucking Quinn on TV talking about spending $1 Billion on a high speed train to St. Louis when we already have a train that goes there every day and planes leaving numerous times a day. Do we really need a train that can get there an hour sooner than the trains that already go there? Hell, you can drive there in 5 hours. Fucking Fly if you need to get there really fast!
Also, Daley talking about building a new express train trak from O'Hare to downtown when we already have trains that run that route all day. Just put an express route up every hour if you need to. We don't need to spend money on any of these new train routes! I thought you guys said we are all broke! Oh, sorry to see you go Caterpillar, but I don't blame you. Indiana has people that know whats good for business running the state.
I guess that is what needs to happen so people get their heads out of their assess
Its funny how people are complaining about paying taxes into pensions that were negotiated and agreed upon. And how our government continues to raise taxes. But absolutely no one thinks about the social programs and "benefits" paid to people who leech off society. Its sick that those who work or have a legitimate business have to pay a price for their sacrifice and success. But the freeloaders have no burden or fear of loosing what they have. Our fine liberal government will find a new tax to screw people with to keep them happy.
Quinn seems like quite the arrogant/elitist SOB. I don't forsee him granting any favors to retain CAT here in Illinois. He is about as in touch with reality and the will of the people as another one of our illustrious leaders - Dickie Durbin. Ugh.
All of you jackasses that voted for this democrat idiot should just love this.
Wow. I guess Caterpillar didn't get that memo from the White House about the need to pay their "fair share". I mean, they can afford it, right?
Keep up the good work Gov . There's nothing like an empty State with NO jobs due to your Democratic Stupidity . Just remember , you LOST in 101 counties out of 102 counties .That means that nobody likes you and your bullshit ideas . The only mandate for you is for you to leave office and grab a broom . You are the states biggest MORON .
Who cares?!
I'm moving out of Illinois as soon as I can also!
I'm going to the great state of Texas, the day after I retire!
Ya'll can visit me down on the 'range' for those that know me!
Da Pelon
When will the Demospends learn that you can't reward people for having babies, no job, little respect for life and welcome with open arm are the illegals they can gather in and expect hard working people to pay for them. The back of tax payers has been broken in this state and how they are going for life support. If you got rid of all the dead beat in Illinois who voted Democrat we would have a Republican for Governor. Maybe the voting laws should change and if you don't have a job you can't vote unless you shpw that you have been part of a layoff.
Why is anyone surprised by the actions of Democrats? It is their strategy to collapse the system in order to bring about a socialist government. We must judge them by their actions, not what they tell us.
Anonymous said...
If you read the Pantograph article it turns out to be EIGHT STATES after CAT.
Lets once again thank the Green, Cohen and Libertarian voters
3/27/2011 12:23:00 AM
No....How about thanking the assholes that voted FOR Quinn. Or thanking the assholes who didn't vote. Green, Cohen, and Libertarian voters did not vote for him.
And keep in mind that for every Caterpillar out there, there are at least 30 smaller companies that have either already left or are making plans to leave but they are to small for the media to pay attention. Of course if they were all put together....
My father worked for caterpiller in 1951, they have been here a long time
It's the Walmart effect. Ask shrugging Atlass.
Hey CAT. Get out now while you are still in business. The longer you wait, the more likely it is you will be operating under the burden of the last taxpaying business in Illinois wherein evil business is taxed to pay for the incompetence of politicians. There are a tier of southern states where the grass is greener. Texas is the place you ought to be. In fact I know the compamy at Touhy and McCormmick is developing a site in Texas for a move in 2013. It just is not happening in Illinois anymore.
All because of three counties in this state Illinois is going right down the tubes! CAT will leave this state and so will I when I retire, F this place!
For all of you complaining about Caterpillar lets remember, the United States has one of the highest, yes, highest corporate tax rates in the world. Illinois is becoming one of the highest taxing states in the US. Combine the two, and there are numerous options why a company would leave this state. The only reasons many companies stay in the US is the productivity of American workers, and the stability and safety of doing business in the US. If I could move out of the Chicago to avoid paying some of my taxes and keep my job, I would. How can I complain if a company wants to do the same. And don't forget, if you have a pension, you're probably an owner of CAT.
Quinn's reply on the 9-O'Clock news of:
"Caterpillar isn't going anywhere"
was so snide, it'd make me want to pull up stakes if'n I was the CEO.
Quinn was put over the top in the election by people who don't pay taxes. He doesn't care about the working man. He told everybody he'd raise taxes if elected. The parasites are his base.
I think he's gonna give them a tax break. See, that's how these politicians justify their existence. If they just put taxes for all businesses and people, at a reasonable level, they'd end up collecting more revenues, the state's economy would be prosperous, people would have jobs, and the public might realize that their well-being doesn't actually require giving more and more power to politicians. Oh, and never mind that they speak out of both sides of their mouths: Business evil. Business good (at least the ones who kiss my rear in exchange for goodies).
We don't need CAT and their jobs. We are a Sanctuary City. We will have plenty of people to fill those empty spaces.
That's what happens when the law allows someone to win a political spot with less than 50% of the vote, then they ram something through before the people's most recently elected legislatures are in office.
Boeing (and Sears) did the same thing, threaten to leave town, only after building the corporate office hq in downtown with huge TIF and tax reductions, they got their way with ShortShankAid, Boeing has factories out of state, really having little impact on "jobs" here. Wonder who sold the property/land to Boeing and who built the structure?
Illinois will sooner than one can imagine will be the new Detroit- Michigan, sanctuarian mecca epicenter and Gov. PotatoHead long gone.
Sure downstate can use those 23,000 jobs and sure they'll once again vote Democrat come 2012.
Reap what you sown. Hee-Haw. How's that feel for a donkey-punch?
One guess could be that The Cat is jealous that United/Continental, Ford, Boeing and others have received TIFF Funds to relocate here. So--they're already here but want a piece of the action. Anything to boast the CEO salary which is about 20X what it was 25 years ago.
The REAL problem is Madigan. Madigan is the actual Gov. It doesn't matter who we think we are voting for or who seems to be the elected Gov---Little Mike is the MAN. He seems like a small, relatively thin guy so I am not sure what is so scary about him. But, the actual elected Govs can't put him in his place...maybe he threatens to have Shirley sit on anyone who acts up?
Cat leaves Illinois, thereby reducing the amount of money coming into government coffers along with costing up to 23,000 people their jobs
The company could help their people relocate.
They get out of IL and keep their jobs. They can buy a house anywhere in the country for a song and they get out of IL.
Win - win.
Except for you poor bastards still stuck there...
Cat made a nice comeback too, thier stocks went crazy in 2010. Quinns an asshole
YEA THAT RESIDENCY IS SUCKS DONT IT!
Quinn and his fellow Democraps will definately destroy whats left of the State of Felonois, with their Socialist Governing methods. Caterpillar should move to Wisconsin, where at least they have a Governor with balls, unlike ours , who has a pussy.
Just a continuation of:
give the corporations special tax breaks, then blame the unions, police, fire, and teachers when the budget comes up short.
What ever happen to we don't negotiate with extortionist/terrorist?
Well, keep voting these progressive deomocrats into office and this is what you get. If I was running Caterpillar I'd go to a business friendly state too. Illinois is quickly becoming a friendly state of non-producers and entitlement receipients. The sad thing is, a lot of people who read this blog voting for Quinn too.
This has been going on for a long time. The people who have the ultimate control over jobs in this country are we the consumer. We the consumer purchase foreign cars because overall they are more reliable and fuel efficient. Reliable electronics goods are not built in this country anymore due to cost, Zenith made good tvs, until they moved their operations to Mexico to compete. Briggs and Straton made great engines until they got greedy and moved operations to Mexico, now you would be better off cutting your grass with scissors than one of their products. Clothes are manufactured abroad event hough we have plenty of cotton here because people are clothes hoarders and want to continue to pay 1980 prices for those items. I like to shop at Menards which do their best to have US made items, but the bottom line is half of what they sell there is crap. The laziness of the American worker, the greed of the corporations, the share holders and to some extent the unions and the greed of the American consumer have brought us to this juncture. Corporations are international now, a Honda Accord has more american parts and is built in Ohio than a Ford Crown Victoria which is built in Canada with only 25% US part content. Give Caterpillar its tax breaks for now, or lose 23,000 taxpaying job holders. Buy American when you can.
12:32 am...It's called capitalism, one can choose to participate in it or not.
I chose to by buying a few shares of Cat stock along w/ small investments in other companies, not many shares, just a few.
As a share holder I expect a return on my investment & that the companies do what is best for the share holders. When times are good, dividends are good, times are bad so are dividends. I expect my " share " of the wealth because I take a risk w/ my hard earned money, NOT just because I draw breath & am " entitled. " to a share of everyone else's wealth via the G'ovt teat, thanks for listening, have a nice day.
Quinn says CAT is not leaving
http://tinyurl.com/6yno5yw
Cat needs a scapegoat.
Twenty-five+ years ago, Harold Washington fired Quinn from city employment and warned us about Quinn in a subsequent taped interview. Brady should have played the interview 25 times a day on Chicago television, instead of just every now and then. He might have beaten Quinn.
its the job of the company to make money for the stock holders. if Cat chooses to leave Illinois for better tax breaks they are doing thier job corectly. To think that they are useing this situation to get better tax breaks, YOU are right. 23,000 jobs will leave this state and those jobs will go to another state. Why, beacuse in the end 23,000 people will be off welfare , saving the tax payer a ton, and the new saleries they earn will be taxed adding to the tax revenue. In the word of Charlie Sheen,"WINNING!". Why do you cry about this and say not a word about the Illigal Immigrants that are costing us billions, LOSSING!!!!!!!!!
Either way the citizens of Illinois are fucked. If Quinn, the asshole, accedes to Caterpillar's demands and lowers their taxes, guess where he will make up the difference.
If Quinn, again the asshole, stands firm (pretty hard with no backbone) Caterpillar moves to another state, people lose their jobs, and again the difference will have to be made up.
A lose lose situation.
Theres a guy in 023 that looks like Quinn. He used to work the wagon. Or is it Quinn?
Atlas Shrugged is the most apt metaphor for how f****d up this is. I wish that more people in the middle to near left would read it. The far left are a lost cause.
Watch Quinn grant THEM an exemption like Obama did for all the Companies that couldn't afford to implement Obamacare.
Hardcore Democrats will praise Quinn for raising taxes on Corporations like Caterpillar. What they fail to realize is that it only gets passed down to the average working schnook.
Keep voting Dummycratic! Your Union will protect you! They'll force these companies to pay a good wage to the weakist link in the chain! Right? That's what the union boss told us! What? The company is closing up shop and moving to another state? WTF? Where Obama now? Where is Dick "turban" Durbin now? Where are the leaders of my union? Well actually, I know that they are in Vegas spending my dues on whores and poker..... but SOON they'll be back here and in Madison WI., to mutherfuck the Republicns and blame ALL of society's ills on them!
Anonymous 10:28- "The United States has one of the highest, yes, highest corporate tax rates in the world." The United States has the 5th-highest corporate tax rate in the world- behind Brazil, Uzbekistan, Chad, and Argentina. According to research done by the Washington D.C.-based Cato Institute, the effective U.S. corporate tax on new investment was 34.6% in 2010. This was higher than the average OECD rate of 18.6% and the average rate for 83 countries at 17.7%
As I always told you all here, Illinois is anti-business. Working as a temp for Chicago revenue was a real eye opener. My professional background was business management until I moved back to this dump.
Catapillar's doing th right thing, protecting it's investor's. It's a pity the dim-witted Quinn doesn't get it. I say we recall this asshole before it's too late.
Fuck! I can't wait to retire and get the fuck outta this shithole state!
Now how would all you Chicago Dumbocrats that elected Quinn like to
have another shot at voting for him again? You reap what you sow but the rest of the state didn't deserve this.
It is time CROOK county fends for its self. The rest of the state will survive just fine on their own.
Elections have consequences. And in Illinois, those consequences always seem to be the destruction of business, the trampling of liberty and the perpetuation of leftist thugs in office.
Fuck! I can't wait to retire and get the fuck outta this shithole state!
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X2! AZ. here i come in about 10 years. please don't change.
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