Way to Go Quinn
Sears Holdings Corp. is considering moving its Hoffman Estates headquarters out of Illinois in a bid to cut costs, according to a source familiar with negotiations.
The retailer is in early talks with officials from several states, including New Jersey, Ohio, North Carolina, South Carolina, Texas and Georgia, the source said.Gov. Pat Quinn said Monday that his office is working with Sears to keep the company in Illinois, saying he has a good relationship with company officials and has met with them on other issues.
Quinn said the company is benefiting from a tax deal with the state, which expires next year, and he's willing to consider a similar arrangement as long as they "do something for the people. They have to make investments in Illinois."
Labels: state politics
posted by SCC at 12:01 AM
44 Comments:
What's it going to take to have a revolt by the taxpayers? This shit has GOT to stop, and soon. Ideas, anyone????
Quinn is eligable for Recall in June. I'll sign the first petition I see
Oh, make them stay! Raise my already insanely high real estate taxes on my now underwater home! Please, Mr. Governor!
It doesn't matter if I have a job, or if I can pay the ever-increasing price of license plates, medicine, food, gasoline and gas taxes, car insurance, child care, State income tax...
No, all that matters, Mr. multimillionaire Governor who doesn't have these same issues to worry about, is that there are no negative headlines saying you drove another company out of the state.
So, please take more of my money and throw it at Sears and make them stay!!!
Sears had a $240 Million dollar tax break that covered the last 22 years according to that story and it's about to expire.
Oh well, there goes some more pension payments.
Who's next up. Caterpillar, McDonalds, Abbott Labs...?
So much for not negotiating with extortionist.
Florida, Wisconsin, New Jersey, Iowa and other states are doing the same thing…forcing public employees to take pay cuts or pay higher contributions to fund their pensions that were supposed to be publicly funded in exchange for their lower salaries, cut public education and public health care….and then offer HUNDREDS of MILLIONS in “INCENTIVES” to Corporations that no longer even MANUFACTURE here in USA…
SICK OF THIS BULLSHIT YET?
I'd say that the tax revenue situation for this city and state is pretty grim.
The political apparatus is touting unemployment is falling like we're coming back baby. Yet the IGA.gov just published a revenue report:
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Perhaps a concern to the economy of Illinois and its financial recovery is the weekly earnings of the subsector of jobs seeing improvement. The “Education and Health Services” and the “Leisure and Hospitality” subsectors have seen the largest improvement in the number of jobs over the last decade but are two of the lowest subsectors in terms of weekly earnings. Equally troublesome is that those subsectors with the highest weekly earnings were the subsectors that have lost the most jobs.
For example, the subsector with the highest weekly earnings in CY 2010 was the construction subsector, paying, on average, $1,237 per week. However, construction jobs are down 26.5% since CY 2000. The second highest paying subsector is the “Information” subsector ($1,039 per week), but employment in this category is down 31.1% over the last 10 years. These statistics would suggest that although employment levels are improving in Illinois, the jobs being added appear to be lower paying jobs.
via >> http://capitolfax.com/2011/05/09/todays-economic-charts-stats-and-anecdata/
This is the "oh, shit" shuffle done by every governor who raises taxes, then promptly regrets doing so when the businesses start to leave for greener (and less oppressive) pastures.
It's fucking pathetic. It isn't like every single person with an IQ above 80 didn't warn of this in advance, yet they pass these taxes, then wring hands and lament when the inevitable exodus of business occurs.
Dumbasses, all.
SPRINGFIELD, Ill. — Gov. Pat Quinn has signed legislation that could help a southern Illinois tire manufacturer add as many as 350 jobs.
The bill signed Friday will provide a $19 million tax break to Continental Tire, which operates a facility in Mount Vernon.
The cost of the tax credits to the state will be spread over 15 years in exchange for Continental retaining at least 2,750 employees.
Quinn announced the measure's signing in the Chicago suburb of Libertyville, where he touted Motorola Mobility's decision to stay in Illinois.
Continental will receive EDGE tax credits, which are equal to the amount of state income taxes withheld from the salaries of employees in the newly created jobs.
http://www.greenfieldreporter.com/view/story/9af14d9977a04928b1dd2e178bebea80/IL--Illinois-Continental-Tire/
Illinois now ranks 48th -- Yaaay!!
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5/9/2011
by Mark Cavers
Last week a Chief Executive Magazine survey of 556 CEOs ranked Illinois as the third worst place to do business in the United States.
...
Illinois has plummeted 40 spots from eighth overall to 48th during the past five years, far and away the worst drop
more >> http://www.illinoispolicy.org/blog/blog.asp?ArticleSource=4077
SO SO SO SAD!!!! When will these foolish politicians learn? Illinois is a bad place to do business PERIOD!! The people running Illinois have no idea how business works and are just plain greedy and dumb.
Quinn & the rest of the Dummycrats only want those who can most afford it to pay their "fair share", and now Motorola & Sears aren't going to?
Where's their sense of Corporate responsibility?
Thought the same thing when I saw the Sears headline yesterday.
They'll be lining up now. Where's my tax break?
---not a cop
Ok, so Quinn just erased all and any increase that would have come from the tax hike? So what sense did it make to raise taxes if you have to give it back?
Because the lowly citizens are the ones footing the bill. Corps get tax breaks and we get screwed.
typical corrupt politics here in Illinois. Whats good for the goose is not good for the gander. raise the income tax and the corporate tax. Fuck all the ganders Quinn says everyday. News flash to all the stupid liberals who voted for Quinn, He is a goose and and your not.
The people of Illinois are as stupid as they come for allowing this idiot to continue with his bullshit.
get ready for all the big companies to hold the state hostage.
AND NONE OF THEM WILL PAY TAXES!
THAT IS WHAT A TAX CREDIT IS.
TO BAD WE CANT EVEN LEAVE CHICAGO.
The willing "patsies" are the taxpayers, THEY VOTED HIM IN!!!
Raise the taxes, its the only way.
quinn inherited a big mess but he isn't doing anything to solve it--- he fulfilled his promise to raise taxes before being elected and is now feeling the wrath from businesses and common citizens--- the entitlements are killing this state and country--- welfare was designed to help people in between jobs or in a period of hardship--- it was never meant to be a way of life--- how can a woman have 10 children who can't even support herself and keep getting everything for free with no consequences--- imagine the cost to taxpayers for 20 years to support this woman and her children--- no wonder the state is broke...
Let them leave, Sears will be out of business in 10 years anyways. Even my parents won't shop there anymore.
So Quinn pushes through a bill that institutes a sales tax on internet purchases. A few days later Overstock.com and Amazon.com cancels thousands of small business subcontracts from throughout IL (Amazon alone cancelled over 9,000 small business contracts in one day), due to the cost of business increasing by having to pay sales tax.
Yet Quinn will give tens of millions to keep Sears and Motorola in IL who employ a few hundred people a piece in IL? I'm sure Motorola and Sears pay a lot in taxes, but how much in taxes do tens of thousands of small businesses pay that now risk folding because they lost large corporate accounts?
His weak stance on crime, no to conceal carry, etc. is bad enough, but his business sense is just terrible.
don't you wish now that you had voted for Scott Cohen as governor ?
At least he knew how to get a good
"return" on his "investments" and
everybody involved was satisfied.
Where's their sense of Corporate responsibility?
++
The CEO's are doing thier job to a - T. If I was a CEO, I would squeeze the shit out of the gov, thats why the big paycheck. The problem the "GOV" (a la' blazing saddles with remarkable appearance similarity) is allowing it to happen.
http://www.youtube.com/watch?v=sm1Jyusyoqk
see what I mean
The handwriting is already on the wall.
These recent state tax increases are not going to be temporary.
We're replacing high wage jobs with lower wage jobs according to that recent IGA.gov report.
Then look at the real estate tax situation. Home prices declined 7% in Illinois over the last year.
Real estate taxes are based upon property values and the values are going down. That money is used to fund schools...
There are over 15,000 empty buildings in the city of Chicago alone.
Now think about that, Where's the tax revenue going to come from with falling real estate prices.
Then look back at that iga.gov report again that says Illinois main category of job growth is in Education and Health Care Services.
Tell me where you think we're headed? I say state bankruptcy.
Why is no one complaining about CORPORATE WELFARE? For some odd reason, it is very popular to hate the poor but not say anything about the rich.
SO SO SO SAD!!!! When will these foolish politicians learn? Illinois is a bad place to do business PERIOD!! The people running Illinois have no idea how business works and are just plain greedy and dumb.
Absolutely--They're called DEMOCRATS. They have no clue how to run a business- they just keep pandering to the dumb and lazy at the expense of the taxpayers.
Yep the state is going bankrupt.
--clip--
May 09, 2011
Almost 46% of local home borrowers underwater: report
(Crain's) — More than four out of 10 homes with debt in the Chicago area now are worth less than their mortgages, according to a report released Monday.
Home values here have fallen so much that 45.7% of those with debt are “underwater,” meaning their owners' equity has been completely wiped out, according to Zillow Inc. That's up from 38.6% in fourth-quarter 2010 and 31.8% a year earlier.
Nationally, 28.4% of homes with mortgages have “negative equity,” up from 27% in the fourth quarter and 23.3% a year earlier, according to Zillow, a Seattle-based company that tracks the residential property market.
“Home value declines are currently equal to those we experienced during the darkest days of the housing recession,” Zillow Chief Economist Stan Humphries says in a news release. “With accelerating declines during the first quarter, it is unreasonable to expect home values to return to stability by the end of 2011."
A Zillow index of Chicago-area home values fell 4.8% in the first quarter from the fourth quarter and 13.8% from year earlier.
Though federal homebuyer tax credits supported prices last year, the impact has proved temporary.
Read more: http://www.chicagorealestatedaily.com/article/20110509/CRED03/110509875/almost-46-of-local-home-borrowers-underwater-report#ixzz1LyVi5JmV
The greatest transfer of wealth continues with this circle jerk of tax breaks for corporations in return for campaign contributions...
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A new West Side film studio has begun operations and is expected to collect state aid Tuesday as it aims to become the Chicago area’s largest host for creators of movies and TV shows.
Cinespace Chicago Film Studios, an offshoot of a Toronto company, has taken over a building at 2558 W. 16th St. that used to belong to Ryerson Steel. The site is busy with its first job — shooting for a cable drama called “Boss” that stars Kelsey Grammer as the mayor of Chicago.
The studio carries high hopes from local governments and trade unions, which hope it will draw job-rich productions to Chicago. But it’s starting out small after promises in 2009 that it would create thousands of jobs.
Gov. Quinn is expected to visit the operation Tuesday, bearing a $3 million grant for Cinespace. Sources said the money will come from the Illinois Jobs Now program, meant mostly to bankroll highway improvements and other public works, and that the state will provide $2 million more if the company hits targets for expansion.
more >> http://www.suntimes.com/5279214-417/state-to-give-boost-to-west-side-film-studio-working-on-boss.html
Man, Sears ain't the store it used to be. Stopped shopping there years ago. Was looking at a TV there, and the guy just read me the tag. (which I could do too) Tried asking him numerous times the pluses and minuses of each and he just pointed to the signs.
Yesterday, Monday-09 May 2011, on CBS/WBBM-Channel 2's newscast at 6:00 PM, Finance Reporter-Ms. Terry Savage reported the SEARS story and announced "He [Governor Pat Quinn] should be ashamed of himself" and, paraphrasing here, Quinn created the mess when he raised taxes.
You go girl!
IL is now on the defensive and will have to make concessions to any company threatening to leave. Great job Quinn!
Anonymous said...
So Quinn pushes through a bill that institutes a sales tax on internet purchases. A few days later Overstock.com and Amazon.com cancels thousands of small business subcontracts from throughout IL (Amazon alone cancelled over 9,000 small business contracts in one day), due to the cost of business increasing by having to pay sales tax.
... I'm sure Motorola and Sears pay a lot in taxes, but how much in taxes do tens of thousands of small businesses pay that now risk folding because they lost large corporate accounts?
5/10/2011 11:30:00 AM
The folks at Amazon and Overstock aren't stupid.
It's pretty simple, and I'm sure Overstock and Amazon coached these Illinois businesses... get a PO Box in a business friendly state and declare that as your corporate headquarters. Now you are no longer an Illinois business and any communications that are sent or received are going to the other state.
Remember when Harold Washington said hiring Quinn was the worst mistake he ever made, Quinn was't qualified to be dog catcher.
Out of the mouths of the departed,and yet the idiots in Illinois voted him in.
Makes you want to throw your hands up and holler
Hey! Remember when the government didn't have to give incentives to business to open or retain a shop in a state, county or municipality? Remember when tax structures were fair and equitible for citizens AND business? Remember when crooked politicians were not running around like Quinn telling business has to do something "good" for the people; when jobs with decent salaries and benefits were "good" for the people? And finally, the government was not looking for business to subsidize what the government was actually responsible for paying? My how the worm has turned.
Man, Sears ain't the store it used to be. Stopped shopping there years ago. Was looking at a TV there, and the guy just read me the tag. (which I could do too) Tried asking him numerous times the pluses and minuses of each and he just pointed to the signs.
5/10/2011 03:22:00 PM
Sears guarantees the jobs of all servicemen and women until they return. I go out of my way to buy whatever I can from them.
I don't agree with these tax break giveaways, but I do support the company when I can.
"don't you wish now that you had voted for Scott Cohen as governor ?
At least he knew how to get a good
"return" on his "investments" and
everybody involved was satisfied.
5/10/2011 11:53:00 AM"
The reason we are so screwed is because mouthbreathing fools voted for Cohen and the Libertarians. That is why Quinn is Governor today. He only 'won' by 19,000 votes
What's it going to take to have a revolt by the taxpayers? This shit has GOT to stop, and soon. Ideas, anyone????
How about workshops and continuing education classes, which teach the perils of continuous Democratic voting?
Quinn is eligable for Recall in June. I'll sign the first petition I see
I'm second. :)
The reason we are so screwed is because mouthbreathing fools voted for Cohen and the Libertarians. That is why Quinn is Governor today. He only 'won' by 19,000 votes
We are so screwed by the non-voters, which includes people who complain about how voters voted.
Man, Sears ain't the store it used to be. Stopped shopping there years ago. Was looking at a TV there, and the guy just read me the tag. (which I could do too) Tried asking him numerous times the pluses and minuses of each and he just pointed to the signs.
5/10/2011 03:22:00 PM
True dat. Go to the Sears at Six Corners. No one speaks English there, the workers and the customers....I thought I was south of the border. That whole area has turned ghetto. Sears would probably do much better there if they accepted LINK.
Quinn pulled the plug on DHS ICE Secure communities.
http://www.nytimes.com/2011/05/06/us/06immigration.html?_r=3&ref=politics
Now the G says that they will pull Illinois LEOS access to rap sheets associated with the FBI #.
Part I
Dear State of Illinois Representative/Senator,
I am writing to express my support for state and municipal public employee’s current pension benefits. I am asking you as my representative to OPPOSE any bill to cut our pension benefits, including any legislation that would offer a false “choice” of a reduced pension plan.
Fire Fighters , Police Officers, Paramedics, Teachers, Nurses, child protection workers and other public employees provide essential services to everyone throughout our state, and the modest pension they count on was part of their total compensation package they agreed to when they accepted employment.
As you know, Illinois State and municipal public pensions are modest, on average just $32,000 a year. Most public employees are not eligible for Social Security; they rely solely on their public sector pension for security in retirement. Mr. Rostenkowski, our former Chairman of The House Ways and Means Committee, tried to balance Social Security on our backs. You see, even if we worked outside our public sector jobs, prior to or during our public sector employment and accumulated anywhere from the minimum to the maximum quarters to be eligible for Social Security, Mr. Rostenkowski and his legislation reduced the amount of Social Security benefits that we were eligible for, anywhere from 65% to 90% because we are eligible for a public sector pension. This is a benefit that we paid into and earned just like everyone else who pays into Social Security.
Instead we see on a daily basis able bodied young men who refuse to seek gainful employment. Why should they. They can sell a little dope on the side and get certified as having a learning disability because they didn’t go to school and collect SSI that is administered by The Social Security Administration on top of getting a Link card. Then they can knock up 5 different Baby Mama’s who now become eligible for a Link Card, Section 8 housing, free hospital care and free education when they choose to go (careful not to jeopardize that learning disability certification). Then when the baby’s daddy gets out of jail he has 5 different Baby Mama’s households to choose from and comes and goes as he pleases. Good thing the Social Security Administration has more money for administration so these upstanding members of our society can get everything that’s coming to them.
Part II
Dear State of Illinois Representative/Senator Continued:
This is the irony. If you tried to diminish the benefits of these criminals or ILLIGAL ALIENS who have not earned, contributed or paid any taxes towards the benefits they are collecting, the outcry from these groups would have you caving into them so fast it would make anyone’s head spin. My question is, who do you really serve? And how long do you think, we the people, are going to put up with this. The people who pay no taxes enjoy greater representation than the people who pay taxes. Since when is Taxation without Representation an American Ideal?
Do you remember what happened when the people who ran this country did so from across the pond? I submit this to you, our legislators that you are living across the pond and governing as if you have no one to answer to because you’re so far away. I’ve got news for you; you’re not that far away and will have to answer to us, because we’re the ones who pay the bills. If we don’t get representation we will simply stop paying the bills. What if we banded together and decided that we wanted what Big Business, our legislators and every welfare leach in this country have, that is ZERO TAX LIABILITY. How would our country run? How is it that the groups with the smallest tax liability have the greatest representation? I’ll tell you how , you take money from big business to finance your campaigns, votes from the welfare leaches to get elected and you steal from the hardest working segment of our society by taxing them until they can no longer afford to pay . Now you want to take away a deferred benefit and part of our total compensation package. Be careful because you are entering a NO WAKE ZONE. How long do you think we are going to tolerate this abuse? Breaking our pension guarantee is unconstitutional. If you vote with your party instead of with your taxpayers in favor of reducing our pension benefits you will just be taking more money away from the State Coffers because in the end The State of Illinois will be footing the bill for the historical legal fight that surely will follow.
Sincerely,
80,000 Police Officers, 55,000 firefighters and paramedics, 52,000 teachers, 42,000 Nurses and 130,000 various state and municipal employees plus their immediate families, their relatives and their friends
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