Sears
Gov. Pat Quinn called Sears’ store closings regrettable but said he wasn’t second-guessing the legislation he signed in to law days ago giving the Hoffman Estates-based corporation a series of tax incentives to keep its headquarters in Illinois.
“We expect the headquarters to stay here and the jobs to be here, that’s what the agreement is all about,” Quinn told reporters Tuesday morning after an unrelated event at the Thompson Center in downtown Chicago. “The fact they have to close some stores around the country, that isn’t good news, but it doesn’t directly affect this agreement.”
"directly" in that the corporate structure will remain exactly as it is, despite the downsizing of over 100 stores across the country? Because everyone knows corporate America behaves in exactly the opposite way Economics 101 tells us they must to stay solvent.
Labels: money questions
posted by SCC at 12:03 AM
60 Comments:
Hey Quinn, give Church's Chicken a tax break. At least they are serving a useful purpose in this city. Hey, that's my wing motha-f*cka....bang bang bang bang bang bang (that makes 6)
“The fact they have to close some stores around the country, that isn’t good news, but it doesn’t directly affect this agreement.”
"directly" in that the corporate structure will remain exactly as it is, despite the downsizing of over 100 stores across the country? Because everyone knows corporate America behaves in exactly the opposite way Economics 101 tells us they must to stay solvent.
Hey! It's just like what the police department is doing AND like what the city is doing with the city council; corporate structure remains the same, but the number of worker bees, citizens and patrol officers respectively, remains the same.
"OOPS my bad" I need seven graves not six and my donkey doesn't like when you laugh at him.
Watch this spot for the list of closings...
http://searsmedia.com/
This reminds me of when wrigleys sought large tax breaks from shanks when they wanted to build a new headquarters at north avenue and the chicago river. The agreement was they get the tax breaks as long as they promise to keep the plant open at 35 and ashland. Well we see how that worked out. Just shows how stupid our pols are compared to real Ceos and business managers.
I had to laugh when a reporter asked State Sen. Ira Silverstein if he had any idea Sears would be closing 125 stores in 2012. "Gee I didn't have any idea". "If I knew that I wouldn't have voted for the agreement". What a fucking joke. He KNEW. They ALL KNEW before they voted for this POS legislation to piss away millions in tax dollars to keep these jagoffs in this state. Sears is going to fold in 2012. Bet on it! If they bastards want to leave town...GO!
God how I hope they don't close the one in my neighborhood.
If they do it will be replaced be "Luxury Condos", built by Daley/Vaneko and filled up by Section 8'ers who will ruin it.
how about giving me some tax breaks and incentives to stay in felonois--- I would love to have chicago named as the 51st state of the union--- it would immediately be declared a disaster area and we would be eligible for fema relief--- chicago is a disaster area, insolvent, loaded with do nothing wastes of human life, corruption so entrenched that it would take an atomic bomb to stop it, illegal shitbird link swiping honey hole, destroyed housing market, infrastructure crumbling at all levels and in need of billions in repair, unfunded pension liabilities that will keep the financial statements in the red forever.... but we have good beef sandwiches and pizza here....
The people get played again. Maybe we can cash in on all that expired H1N1 vaccine Blago invested in! Do you really trust anything being done in Springfield or Washington? Where's the in depth reporting on this fiasco? If only Fitzgerald had left the taps in place it would have been fucking golden.....
These corporate vultures have known for months that they were going to close stores but they delayed the announcement until after they fleeced the State and our weak-minded politicians out of their multi-million dollar tax break.
Our "genius" State legislators and Governor Patatoehead got taken to the woodshed (AGAIN) and we, the taxpayers get left holding the bag (AS USUAL)!
Gee, there must be a reason why Illinois ends up dead last on all of these magazine lists and surveys of the "nicest", "happiest" or "most desirable" places to live.
I used to think it was because they were only checking with the people in the other 49 states but it appears that it's really because they are talking mostly to us (taxpaying) Illinoisans who really know how sad it is to live here and be robbed and corn-holed by our own criminal legislators!
If the legislature does not reconsider this tax break you can absolutely bet that both they, and Quinn, will be reconsidered during the next election.
PLEASE! If you are not already registered, REGISTER TO VOTE and then VOTE.
NO VOTE = NO WHINING in the SCC BLOG!
Quinn does not give a rat's ass. The sheeple in this state will re-elect him...the ones that are still left.
If Dumbo doesn't end up in Jail, how many companies will give him spots on their board of directors when he's finished with politics ????
It pays to make friends. Just ask shanks !!!
Does anyone remember the video, where Mayor Washington says that hiring Quinn was the biggest mistake of his term in office? Then play some tapes of Blago who was elected twice, and it becomes apparent that the morons are the people who elected these governors! Quinn and Blago are what they are and they have been consistent. So when they do stupid things and waste tax monies we have nobody to blame but those who cannot vote for anyone who is not a Democrat.
Quinn got played.
Quinn doesn't want to end up like Blago so he does some of Mike's bidding.
Sears definitely knew where they stood with regard to "same store sales" numbers while they negotiated with the softball Quinn. The plan to shut down stores would have been in place by the the end of 3rd quarter.
In the Trib article, I love the quote from Sears "Sears said it will no longer prop up "marginally performing" stores in hopes of improving their performance and will now concentrate on cash-generating stores".
This was what Quinn should have said about Sears:
Illinois will no longer prop up "marginally performing" businesses in hopes of improving their performance and will now concentrate on cash-generating businesses that are committed to building a positive cash flow without the assistance of State corporate welfare.
Sears schooled Quinn and Madigan as well as the rest of the House and Senate and who approved this deal. And the taxpayers got screwed!
G8+lay off sears employees= fill in the blank______
The quality at Sears has been going down for years. Remember Montgomery Wards? Sears will follow.
Why do people in this state think our politicians are so clueless? You can believe they all knew about Sears planning to close 125 stores after they received millions in tax breaks. Politicians give their votes as trade offs for future favors and treats for themselves. Don't ever doubt these shrewd corrupt bastards will throw all of us into the fire to help themselves. Madigan and Cullerton pushed this bill because they made $$$ off of it. And don't forget the Racoon. He always has his 9.5 fingers in the pie.
As I See It, Quinn Has Only One Fault,As A Politician. He Looks Away From The News Camera's When He Is Talking. He Is Going To Have To Train Himself To Bulls--t, While Looking Directly Into The Camera's. He Should Model Himself After His Two Former Governors. Now Those Were Great Politician's.
PS: Have A Nice Day ??
Can we start a referendum to recall Quinn?
Of course, Ira Silverstein and other politicians knew.
Don't believe ANY politician!
Don't believe ANY corporate people!
It's time for the police and similar minded people to start new (or buy existing) media now, because that's the only way the truth will reach the masses/sheeple.
Sears said they were going to lay off 700 or so(?) people the same week after Quinn the Retard gave them the tax break. So this means even MORE people are getting the axe from Sears. Quinn is essentially using taxpayer dollars to fire people, and then my tax dollars are going to support the ones that lose thier job, with a new round of unemployment extensions too. Thanks Quinntard
Our politicians suck.
If only Fitzgerald had left the taps in place it would have been fucking golden.....
!!!!!!!!
He is bought and paid for too. He has done shit since BHO got there.
Our "genius" State legislators and Governor Patatoehead got taken to the woodshed (AGAIN) and we, the taxpayers get left holding the bag (AS USUAL)!
I'd like to know how much Sears "invested" in Qommie Quinn.....
According to public records, Michael Madigan and Tom Cross received substantial political contributions from Sears in recent years. Lisa Madigan was taken care of as well, on a smaller scale. Don't worry folks. It's all legit.
hey closing aprox 120 stores on a chain that has over 4000 stores is smart business to not loose money. They are only closing not even 3% of their stores. I think that this is being blown out of proportion.
With in 4 years, Texas or arizona here I came!!!!
Either way, if "Chimpanzee Face" Quinn got snookered because he did not perform his due diligence as to investigating the future plans of the other party at the negotiating table or he is lying to the voters that he did not know SEARS was shortly going to reveal a surprise, he deserves to be recalled. He's either incompetent or a liar or both. Regardless, he has disqualified himself from being our governor.
The sentiment of some on the blog is to never vote for an incumbent. The SEARS fiasco qualified their sentiment. These thieves will not install term limits so the voters should apply grass-roots term limits.
I hope at least the CEO of Sears kissed Quinn before he signed on the dotted line.
Commie Quinn is part of Commie Obama's plan to install Full Communism into the United States, by destroying private businesses. Soon, no one will be able to get a job anywhere, except by working for the Government. Enjoy your life of servitude, peasants. You voted for these Commie, now THEY WILL Devour you. And if you think the past few years have been bad, just wait. If Obama wins again, ALL your Constitutional Rights will be G-O-N-E... Don't think it can happen? Guess again.
Recall Quinn, before he TOTALLY destroys Illinois.
Hey Sears and Kmart Obama voting DemocRATS, Hows that "Hope and Change" workin out for you now?
"Is Quinn really this dumb?"
---
No, he is dumber. Clara belle the clown is infinitely smarter.
Used to go to Sears with my parents when I was a kid. Have gone in there twice in the last 20 years. Decor is dated, merchandise is awful/ghetto, floors/displays are cramped, lines are long, cashiers are frazzled. No wonder they're losing $.
If any citizen has a gun, carry it and don't be scared to use it to disperse the mobs of black youth attempting to rob and batter you and your family. Shoot in the crowd and walk off with the crowd to a safe place. The police cannot protect you...
?These corporate vultures have known for months that they were going to close stores but they delayed the announcement until after they fleeced the State and our weak-minded politicians out of their multi-million dollar tax break."
12/28/2011 03:27:00 AM
That's true -- here's the list --
http://searsmedia.com/tools/081811_close.pdf
I am sad that the Kmart in Franklin Park is going to go -- if an area like Franklin Park/Northlake can't support a lower-middle-class, working-class-type store like this, what can?
I note that this list is dated 08-18-11 - watch for updates at --
http://searsmedia.com/
It may be lots worse...
SCC says;
"Is Quinn really this dumb?"
Yes.
That's right, keep yapping about let the businesses leave Illinois and just where do you think the taxes will come from to pay our salaries? Businesses pay VERY LITTLE tax, the tax is passed on to the customer in the form of a higher price. Employees pay taxes.
You can't keep trashing taxpayers and expect the whole house of cards not to fold.
If you sit down at the poker table and you cannot spot the sucker, YOU are the sucker. Obviously, Quinn is the sucker. I would love to sit down and play poker with Pat Quinn. I would have him stripped down to his underwear in no time.
Why do you think Cullerton and Madigan and the rest worked to diligently to impeach Blago? It's because Quinn is such a dope. They will move him out next time.
The legislature should repeal (with a veto proof majority) the legislation that gave Sears Carte Blanche to fuck over their employees
“The fact they have to close some stores around the country, that isn’t good news, but it doesn’t directly affect this agreement.”
"directly" in that the corporate structure will remain exactly as it is, despite the downsizing of over 100 stores across the country? Because everyone knows corporate America behaves in exactly the opposite way Economics 101 tells us they must to stay solvent.
Hey! It's just like what the police department is doing AND like what the city is doing with the city council; corporate structure remains the same, but the number of worker bees, citizens and patrol officers respectively, remains the same.
[Change "remains the same" to "dwindles"]
Thank you. Sorry for the confusion.
And now back to your regularly scheduled SCC.
"Quinn does not give a rat's ass. The sheeple in this state will re-elect him...the ones that are still left."
The only ones who will vote for him are the ones too dumb to leave.
The remaining prisoners won't, but there aren't enough of us.
While Springfield legislators were considering this bill, New York Times did an article which plainly noted that it was "sink or swim" time for Sears. Either Sears would have a great Christmas, or it was OVER for Sears, and it was highly likely that Sears would have a TERRIBLE Christmas season because compounding its problems was its inability to buy adequate inventory due to existing cash-flow problems. Seems like NYT easily predicted the store closure scenario; don't our legislators READ? Don't they get briefing packets from their college-educated staffers?
This subsidy to Sears, a dying corporation, exposes the stupidity (yet again) of our elected representatives, Quinn on down.
Let's pitch in a give Quinn a NYT subscription, because apparently Suntimes and Trib don't cover local business news with any credible depth anymore.
Gotta love this plan for Illinois to sell State Lottery tickets on line too!
Guess they must be running out of Ponzi's inside the State to run their scams on.
Can't you just see the angry people in a few months or maybe a year or two crying about wanting their winnings from a bankruptcy court. But.but..but they said we could spread out our winnings over X years -- what do you mean they're broke and there's no money?
Seems to me that it will end any controversy concerning the legality of inter-state gambling too, like on-line poker sites?
Unless of course we can wave a magic wand to change commonly defined definitions like was done for "residency", "is", " mission accomplished" or "sex with that women". Oh the lottery is NOT gambling -- SHUT-UP -- no it's not.
Anyways...Wonder how the Chicago casino's will be affected?
Let's see, people can gamble on their computer in the safety of their homes...where they can smoke and drink to whatever hours they like. Not have to pay a congestion tax, not have to pay inflated parking cost. Not have to risk a flaky speed cam ticket or red light cam ticket. Not have to pay inflated gasoline prices in Chicago...which will save you enough money for another round or two of poker! Which will they choose?
Granted, you'll have to give up that downtown casino ambiance.
The excitement of getting jacked-up at a downtown casino with all the bucket boys outside beating their brains out. People leaving their kids in the car at all hours while they're inside gambling and all that stuff.
Chicago -- guess what? Your desperation is showing.
OMG, reading Chicago Mag from last month. It will be a miracle if any of us get pensions. Rahm is definitely going after existing pensions, as well as new ones.
Any thoughts on whether it'd be better to retire now before the changes? I'm only 51, but have almost 26 years on.
It is not looking good at all.
Short answer - YES
Recall Quinn.
Quinn is dumb beyond words, the only thing stupider is his voters.
I will shop at Sears, they have done a great service to their employess who get activated and sent away, they pay their salaries, health benefits and make sure they have their jobs when they get home, and if you don't beleive me do some checking. Sears will never close, they may do some closings, and downsizing but sear will always be Sears. Thank them for helping the Veterans.
Look at Miller-Coors and Boeing two piece of shit companies that just have their HQ's here and nothing else. Just stealing money from the state and not giving shit back.
The original world headquarters for Sears-Roebuck was at Arthington and Homan in the old 011. CPD discount.
On payday, you'd go to Sears bank to cash your check. Predictably, the crap games would then begin at the back of the 4001 W. Fillmore St. roll call room before we hit the street.
Fond memories, good times and danger everywhere. Great camaraderie, outstanding morale and back-up in seconds, even with "no cars available in Fillmo'" per dispatcher Harry Hewitt. Stand-up bosses. There were no black or white coppers--we were all BLUE. Even "the dogs" would roll on 10-1s.
Memories of "da REAL PO-leese"...
Many of these comments are perfect examples of the need for more educational requirements within the CPD; I do not mean degrees from bullshit diploma mills such as National Lewis, Northeastern or Chicago State. There are highly educated folks, with real degrees that would do just about anything, to have a job that pays so well.
They guy who wants cops to buy new or existing media makes me laugh, though: what an idiot!
Doesn't really matter. Sears is on the way out and wouldn't be paying taxes amyway. How much income tax would they owe on a $500million loss?
They guy who wants cops to buy new or existing media makes me laugh, though: what an idiot!
Instead of offering solutions, you complain about comments and fellow police officers' degrees.
Perhaps, Northeastern Illinois University (NEIU) doesn't want idiots writing "They guy...". :P
Closing many stores is one way to make short-term stocks increase dramatically. That is why the deal was done this week. I'd like to see how many Illinois politicians bought short-term, Sears stock. It's the same reason no politician is denouncing NAFTA. They made millions on those deals. We are the morons giving our money to fuel their fire.
Anonymous said...
Commie Quinn is part of Commie Obama's plan to install Full Communism into the United States, by destroying private businesses. Soon, no one will be able to get a job anywhere, except by working for the Government. Enjoy your life of servitude, peasants. You voted for these Commie, now THEY WILL Devour you. And if you think the past few years have been bad, just wait. If Obama wins again, ALL your Constitutional Rights will be G-O-N-E... Don't think it can happen? Guess again.
12/28/2011 12:24:00
You're an idiot.
Quinn is a DOLT !!!
http://searsholdings.com/about/122711_close.pdf
List is out -- no further Illinois closings, but a real disaster for many towns.
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