This is Becoming Normal
If anyone in Chicago or Springfield still denies that this state's sorry record of corruption and taxpayer debt is costing Illinois excellent jobs, take it from billionaire Nassef Sawiris.
The University of Chicago grad heads a global firm, Orascom Construction Industries, the biggest company in Egypt. He has set out to build a giant new plant to make fertilizer from natural gas in America's agricultural heartland.
Illinois and Iowa competed aggressively for the $1.4 billion project, which will create hundreds of precious, stable, good-paying jobs. Both states offered lavish incentives.
In the end, Illinois came up with the better package, according to Sawiris. Its tax code, tax rebates and the other breaks it offered were "financially superior" to the package proposed by Iowa, he said. Besides, Sawiris confided, he feels a sentimental attachment to Illinois, thanks to the education he received at Chicago.
Nevertheless, he chose Iowa for his investment, at a site just four miles from the Illinois border.
Why? Regular readers of this page already know the answer. Illinois is broke, with some $200 billion in debts and unfunded obligations. Any employer who locates here essentially volunteers to help pay for yesterday's excessive spending and reckless promises. What's more, many public officials have besmirched Illinois' reputation with their criminal activity. So convincing a shrewd and sophisticated multinational firm to invest long term in Illinois is a tough sell.
Go read the entire article. Iowa has a lot of fun at the expense of Illinois, including pointing out that just about all of their ex-governors aren't in prison. But what isn't fun is the sheer numbers of companies relocating just outside of Illinois borders in Wisconsin and Indiana or even the long distance campaigns of places like New Jersey and other states to lure away Illinois employers.
Labels: corruption, state politics
posted by SCC at 12:01 AM
33 Comments:
"And unless something changes quickly, it risks becoming a ...... tourism desert as well."
well, at least i can look forward to the abundant 'big game' hunting safaris.
bag the most dangerous predators known to man.
(head mounting services available, for a small additional service fee.)
Chalkie
The Daleys, Madigans, and Cullertons have destroyed this state. All of these connected bastards and their greedy pals all will live quite well off of their crimes and the rest of us will have to scratch by for the remainder of our lives. How sad we stood by and let these criminal assholes do their dirty work at our expense.
"...unless something changes quickly..."
Get rid of the old guard, folks; Madigan & Company need to go...NOW.
Or else we're DOOMED.
Damn good trout streams in Northeastern Iowa, and pheasant hunting to boot! "Brown eyes-blue eyes" be damned, I'll take Iowa over Daleytown any day!
I never thought I'd even think about moving out of Chicago, but I think the time may be here. I'm old and the house is getting too much to take care of. Sure, I could find a home to my liking or a condo in the city, but if I truly decide to make a move I'm looking toward Indiana. So sad that these politicians are driving us away.
The Mexican Says:
Lest we forget, Iowa fucked a perfectly competent, irreproachable CPD Officer.
A state run by idiots. If illinois were a company, it would have been out of business years ago.
Thank you, Quinn Madigan and Rahm and Obama and all the rest of the Demorats in the legislature.
It isn't just large corporations that do not want to stay in Illinois.
I retire in November and I am going, together with my pension, to another state with a better credit rating and no governors in prison and no goofy clown in the governor's office.
Yep and talk about CompStat numbers being phony!
I challenge you to go to rhe BLS.gov website and look, really look, at their numbers game.
For example, all you read in the media today was the part about the 96,000 non-farm payroll jobs were added. Yeah eh?
Nevertheless when you read the actual BLS report you'll discover that overall there are over 112,000 less people working.
Also, look at this ongoing bull when it comes to the so-called jobs created numbers...
"The change in total nonfarm payroll employment for June was revised from +64,000 to +45,000, and the change for July was revised from +163,000 to +141,000."
http://www.bls.gov/news.release/empsit.nr0.htm
All those good news "as the economy continues to recover" reports are lies.
Look at those revisions off by about 20,000 jobs.. and in this day of high speed computers -- can't they count? Or maybe they don't want to count!
So given that track record don't be surprise to see that 96,000 jobs created this month to be revised down to 76,000 next month.
And if that is not bad enough the BLS ALWAYS revises the numbers again at the end of the year.
How can you be so far off in reporting these numbers and not address the model that you are using to create them -- that month after month after month is wrong and it is wrong in the same direction EVERY SINGLE MONTH! Why is no-one fired for this non-sense. The job report is trash.
The fact of the matter is that we lost about 1.4 million people in the labor force as they rolled off the system, not being counted after giving up looking for work.
"Both the civilian labor force (154.6 million) and the labor force participation rate (63.5 percent) declined in August."
What they fail to point out here is that the labor force participation rate of 63.5% puts us at a 30 year low!
Furthermore, look at where those jobs are being created. The bulk of them are service industry jobs. Maids, Burger King, Waitresses, and shoe-shine boys. Low paying jobs that will not provide a living wage or a tax base to continue a World-Class city lifestyle and I don't care how much Rahm Emanual tries to paper over it by building $55 million dollar parks for the ex-mayor we are losing ground, going bust.
But the DNC wants to know if you are better off.
Anonymous said...
I never thought I'd even think about moving out of Chicago, but I think the time may be here. I'm old and the house is getting too much to take care of. Sure, I could find a home to my liking or a condo in the city, but if I truly decide to make a move I'm looking toward Indiana. So sad that these politicians are driving us away.
9/08/2012 01:57:00 AM
Make sure you check out the tax issues in Indiana. I believe they tax your pension and they have expensive license plates. $300 on a 2012 Honda Accord. And the personal property tax.
Chicago is in worse shape.
Illinois unfunded pension liability - $83 billion @ 12.8 million people. $6.4K per every man, woman & child.
Chicago unfunded pension liability - $40 billion @ 2.8 million people. $14.2K per every man woman & child.
And, concerning the size of the unfunded pension liability, I doubt they are telling the truth or even truly know the true size of the debt.
The rise each year of the debt probably exceedes the contribution of entry-level workers making Mc Donalds wages AND people are getting the hell out of here as fast as they can. Those that can, anyway.
It's a debt Tsunami that cannont be out run.
Those getting fat and double-dipper and goosed-up pensions at the last one day of employment with little or zero contribution to health coverage costs need to be assesed a special tax right now to slowdown the coming default but the clowns in Springfield will never do it.
Madigan and the rest if them should be in jail.
-not a cop.
Why is everyone upset, you continue to vote straight DEM every election. I see the campaign signs for the DEMs on everyones lawn EVERY election. SO STFU and quit your crying...
Let's not leave out Thompson, Edgar and Bush in the "destroyed this state" cabal. Who let the Dems run Chicago and kept the U.S Attorneys on a leash? Blago and Ryan? Shooting cripples.
Les Baer Inc. moved to Iowa to escape these idiots running this state.
Boy, if we could only elect some more Democrats....
"Hope and Change"
"Forward"
Excellent news! The sooner criminalannoy collapses the better. That's the only hope for rebuilding. It's a shame so many good people will have to suffer. But then the majority voted these cocksuckers in so fuck that part.
Nothing will change until we get a change in leadership in Springfield. So, if those asshats on the southside vote madigan back in then you will get more of the same. And Lisa Madigan? OMG they are talking about her for governor.
PUUUUUULEEEEZE! It wasn't the Democrats alone that ruined Illinois. When it comes to pure GREED the Republican's and the Democrats turned to the COMBINE to share the spoils. Illinois is doomed, very little difference between the two parties in Illinois. Their agenda seems to be "ME FIRST and screw everyone else"
From the Chicago Tribune back on March 21 (day after 2012 Illinois General Primary Election):
"Even before unofficial results rolled in, some sitting Republican lawmakers were bound to lose in DuPage County, casualties of the Democratic-drawn state legislative districts. The map is tilted so heavily toward Democrats that the party led by House Speaker Michael Madigan, the Illinois Democratic chairman, is all but ensured November general election victories that could set it on a course to control the General Assembly for the next decade."
For the next decade...
Clinton says vote democratic to keep taxes low and save your pensions , he should tell Quinn about this illinois has highest gas prices , 2% state income tax hike , high sales tax and democrats are trying to take pensions from us .
Anonymous said...
The Mexican Says:
Lest we forget, Iowa fucked a perfectly competent, irreproachable CPD Officer.
9/08/2012 02:00:00 AM
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Only one? I will take my chances how many CPD officers have been F'd over right here in Chicago?!
put me in R republican , yes reverse $1.89 gas , 3 % Ill state income tax , lower property tax
what democrats gave us higher gas , higher sales tax , higher income tax , higher health care
most of all Lower property Value
middle class blacks are dumb and vote democratic , ask them most do not know President Abraham Lincoln was a Republican or that obama was raised by a white grandmother and grandfather , that's why he is successful
Anonymous said...
Chicago is in worse shape.
Illinois unfunded pension liability - $83 billion @ 12.8 million people. $6.4K per every man, woman & child.
Chicago unfunded pension liability - $40 billion @ 2.8 million people. $14.2K per every man woman & child.
I think you mean Chicago residents are in worse shape. We have both to pay for. It doesn't matter those liabilities will be washed away when Illinois and Chicago declare bankruptcy and all their debts are wiped clean by a judge.
Facinating to me we who live in Illinois can continue to vote in these crooks. The only way I can understand it is in the words of my late brother in law who was a teamster union delegate in the 70's. When I asked him how he could support an organization that had its roots in organized crime, he explained: "if a man steals a dozen eggs and gives me 6, he has my vote".
If only Illinois politicians were generous enough to share 6.
Besides the gerrymandering, the machine democriminals control the C.B.O.E. keeping non machine approved candidates off the ballot, and appoint the judges who could stop this kind of shit, and more. Go to http://www.chicagoclout.com/ The 6 Aug article explains.
Here in Minnesota we're picking up a lot of businesses moving away from IL and MI. It's one of the big reasons unemployment is so low. I'm a U of I grad myself, but since I'm not from there and there's nothing to make me want to stay and contribute talent/taxes I went north.
The unions are destroying our economy.
i am not a po, but what they did to bill cozzi was a absolute disgrace! could this be part of the reason pos are hesitant to do their job? oh i forgot the police review board, the news media and shyster lawyers. last but not least the pols who run for cover the minute the revs bitch.
Anonymous said...
Anonymous said...
Chicago is in worse shape.
Illinois unfunded pension liability - $83 billion @ 12.8 million people. $6.4K per every man, woman & child.
Chicago unfunded pension liability - $40 billion @ 2.8 million people. $14.2K per every man woman & child.
I think you mean Chicago residents are in worse shape. We have both to pay for. It doesn't matter those liabilities will be washed away when Illinois and Chicago declare bankruptcy and all their debts are wiped clean by a judge.
9/08/2012 03:28:00 PM
What isn't being said is that large amount is including everyone now employed under a pension plan and assuming everyone will retire all at once and live their whole life expectancy. Many people won't retire for many years and some won't live to retirement and many won't live much beyond that.
Actuarials know the real numbers. The problem is the State of Illinois and City of Chicago have for many years refused to contribute what the actuaries told them needed to be put in the pension funds to remain funded to a healthy level.
When Rahm starts spouting his shit about "Property taxes will double" just remember that the amount of the property tax draw earmarked for pensions is nowhere near the largest portion of property taxes.
Even if that amount doubles, which would be healthy for the pensions, the total bill will not go up by double, or anything close. But tossing huge made up numbers around is good for politicians. They do that to galvanize opposition to all public pensions. Just not the politician's pensions, those thieve's pensions are never part of the problem and will never be touched. Just ours, we are the problem, not the thieves who steal with both hands.
Take the time to learn what the true funding levels need to be for the next year, 5 years, 10 years etc. There is a large difference between the true numbers and these monstrous anonymous numbers you throw out above.
At any rate, the amount of contributions need to be increased by all concerned. Employees and municipalities.
You have the incredible brewery Three Floyd's in Munster, In just outside of Chicago for tax reasons and all of the owners live in Chicago. Just think how much revenue they are losing from one brewery, and most of the beer goes to Chicago anyway.
Anonymous said...
The unions are destroying our economy.
9/08/2012 11:23:00 PM
No; the thieves in political office have, and continue to, destroy our economy.
Even if that amount doubles, which would be healthy for the pensions, the total bill will not go up by double, or anything close
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The actual number should be told to the public, that way when Rahm says your bill will double, the actual number of dollars that will be needed is known. Otherwise, people will think that their entire $5,000 tax bill will double.
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