Apple Worth More Than Chicago
So is Google:
- If Apple Chief Executive Officer Tim Cook wanted to, he could, in a sense, make the Windy City his new corporate headquarters—all of it.
Technology companies have grown so large that they’ve surpassed the economic values of major American cities, according to data from Bank of America–Merrill Lynch, which compared company market capitalizations to metropolitan gross domestic product.
At current levels, Apple Inc’s market capitalization of about $803 billion is 38% larger than the real GDP of Chicago, $581 billion in 2016. Apple isn’t the only Silicon Valley notable to top Chicago (and all other U.S. cities save two), either. Google parent Alphabet has a market capitalization of $657.9 billion, making its pockets about 13% deeper than the GDP of the home of deep-dish pizza.
We see a number of the listed companies surpassing Chicago in a few short years.
Labels: money questions
posted by SCC at 12:03 AM
40 Comments:
But do Apple and Google have 4 killed and 30 shot over a weekend? I think not!!!
Not only will more companies surpass Chicago, other cities will pass up Chicago as well.
What you showed was a snapshot in time - Here is Chicago how it stands today. I would like to see where it will be in 5 to 10 years.
It already is not "the second city". NY, LA are bigger, when will Houston and some of the other growing cities surpass it?
Chicago economy is getting hammered and even though they make a big thing out of a new, Corporate HQ moving in, they never counterbalance that with how many Corporate HQs have moved out (or just disappeared) from the city.
Plus the graph you show does not show who has the most debt hanging over them. In that Chart, Chicago would probably be #1. Huge debt, and no plan to pay it off.
And you wonder why taxpayers are moving out of the state?
Several of the listed cities, Chicago included, I would not give a plugged nickle for.
Something tells me our pensions would be adequately funded if Apple were running Chicago.
I hope Daley and Rahm rot in Hell for their fiduciary malfeasance.
Could this be the result of one political party control of Chicago for many years?
Include the under funded pension liabilities and the millions in bonds that need repayment.
Chicago is upside down and under more water than Lake Michigan.
that's one rotten apple, matey
filthy with barnacles and Aldercreatures
shootings, murders, armed carjackings
and a fat, corrupted, incompetent governing class
there's no quarterly reports, no guidance, no dividends
no shareholder meetings, no accountability, poor bond rating
HeyJackass and assorted blogs chronicle city chaos
defiant mayor offers sanctuary to illegals, drug and gun runners
except they don't want to pay for ponzi scheme like pensions: yikes:http://www.zerohedge.com/news/2017-05-22/ponzi-scheme-what-chicago-teachers-pension-would-be-called-if-it-were-hedge-fund
Any surprise here?
I thought this was a space for people with common sense?
Why would Chicago be worth only one year's of GDP, it would be priced off the real estate value,
Don't let Mayor Rahm see that list, he'll raise taxes until Chicago is #1.
(And with a dwindling number of taxpayers, it'll be a BIG tax hike.)
(Hmmmm...wonder if he could just tax liberal democrats, they wouldn't care, too much? Would they?)
J.J.
Very soon Harolds Chicken Shack is going to surpass Chicago.
There is a huge difference between market capitalization ( worth of a company) and gross domestic product (GDP) that which an entity produces. This analogy only works if the value of all the infrastructure, real estate, inventories etc in Chicago is valued at a big fat zero. The writer of the article is literally comparing apples and oranges and has failed econ 101.
Apple treats its employees right
Rham is an intangible asset whose value to the working, shrinking middle class is incalculable. Do we need to be reminded he worked for Clinton, passed tax legislation in Congress, bullied fellow naked Congressmens in the shower room, further bullied others by driving a deadly weapon or steak knife in the table while exclaiming "Dead Dead" in the presence of his adversaries calling them out, taking out violent repeat gang members commanding them to "take it in the alley" ordering murders/shootings off the public way and under his leadership marginized communities have solid murder numbers putting south of the border narco-cartels to shame. Did you know he is a close confidant of Obama?
Rahm knows how to make money by passing legislation and keeping business ventures he approves of alive. Rahm started out as a fat cat Wall Street banker you know. Rham knows good business from bad business. A recent example is Chik-Fil-A who Rahm did not approve of and he projected his awesome power by public condemnation given his official position in government. And don't forget the 2016 Olympics. How about that Lucas Museum? And the public school mess. Just a few.
Who says Rahm is not an asset? Probably one of those guys who has his wedding dress in a closet at a qualifying location for residency. If you an influential, controlling asset in collusion with the deep state, the courts will side with you.
Chicago is a big "road apple"
Private companies publically traded must declare eveything to investors, government regulators, private rating firms, creditors and governmental taxing bodies to name a few. Many eyes watching to make sure the company adheres to a code of accepted behavior and established ethical norms. Professionals run these companies and those who fail to perform their duties are shown the door with a pink slip.
City government does what it wants. Generally accepted accounting principles don't apply here. Government will never balance a budget unlike private business. No penalties, fines or audits if government doesn't have their books in order. Businesses must provide a service or product in demand to generate revenue. Government votes in revenue with further taxation, fees, tolls, universal connectivity charges, assessments, etc. Government is neither efficient nor responds to market forces, namely competition and consumer needs.
Government officials fail miserably but are never replaced for incompetence. As shareholders of government, voters elect the same failed administrators of publicly derived monies in to the same roles time and time again. And the definition of insanity once again is doing the same thing over and over again expecting a different outcome.
Why are the tax payers footing the bill for rahmie's film? Over the weekend it was all over the news, even had rahmie shedding his fake tears. The film is about accepting more illegals.
They are comparing apples with oranges. (Yeah I know, apple and Apple) GDP is income and market capitalization is net worth. To compare with Apple's capitalization with Chicago's capitalization one would have to calculate the net worth of all the assets in Chicago.
The core of all corruption and problems in Illinois derives from the property tax system. That's why pensions are broke that is why Chicago has money problems and look at the leaders of the City and State and the ones in power for so many years. They all make money in the property tax system. Then look at all the people making investments with pension money and also look at TIF program and the cities shadow budget. That is the core of problem . Follow the money.
IF Rham 9.5 continues his spending and/or is re-elected you can count the following companies as, 'Worth More Than Chicago.'
Pan Am Airlines
Blockbuster Video
Borders Books
DeLorean Motor Co.
Enron
Edsel
Lionel
Woolworths
Chicago
In a few short years "Chunky" Cheese will surpass shitcago!
And that little rat Rahm along with that defunct leprechaun Daley will be off living like kings somewhere.
At least the New York democrats can protect their citizens and fund their police pension. The swamp creatures we have here are the worst of the worst. Kind of like our unfunded pension liability, we are the worst out of all 50 states, meaning we have the dunnest politicians who also happen to be the biggest thieves.
Pensions are and always have been ponzi schemes. Never should have been created. From day one it was a bullshit law forced into play. The greedy fucks who started it have cashed out. When you have part time politicians drawing out over a million dollars and only contributed 100k, there is a damn problem. When you have assholes claiming to be a teacher for a day bumping their pension to over 200k a year, there is a problem. But no leader wanted to touch it. All over the country pensions are going insolvent. Illinois is next and it will be a sad fucking day. The pension investment experts never heard of Amazon, Google and Apple apparently. If they had done so, your funds would be 100%.
Thank you to all that keep bringing up the pensions. It is all that should matter to us. What will you do when there isn't one? That 500k in deferred comp will be dried up in 5 years. Then what??
Apple doesn't pay fair taxes either. The Democrats Global market schemes made them giants.
So who has the larger of slave, illegal and refugee worker demographic?
Though Apple has put more Chinese to work, Rahm's New Sanctuary Entitlement Voter Project is working on toppling any corporate American Out-of-Work Global Initiative but encouraging and attracting illegals to come to Chicago to get Free Stuff where crime is high and there's no prosperity or any chance the uneducated can find work, besides the quick turnover at an Arby's or Citgo.
H1-B's are another reason a HiLIARy & Bernie's Free College Degree promise is worthless effort for the career students who won't find a living wage with their nothing to do but protest 20 years of college and 4 degrees. Nobody gets rich anymore.
Fuck Apple. Fuck Rahm.
Both are Tax cheats and Anti-American only supporting the unwashed, doofus mom's basement class and the 30 in a 2 br apartment dwellers.
Chicago is an "all in" on how to keep
the middle class on the tax/fee/fine/revenue extraction
hook while permanently cutting them out of the return on
the tax/fee/fine/revenue stream...
Middle and working class neighborhoods have
gotten shit on for the last 25 years.
The non-contributors have gotten it all
because they're noisy, supported/enabled/
politically weaponized by the white guilt liberals
and the media, and they replicate relentlessly.
blame the elected officials , pension boards that approved buy outs for city ,county and state employees
blame shortshanks for underfunding our pension with iou's
markey forgave $28,000,000 owed by city of Chicago to cpd pension why o Y did he do that
Jimmy's Hot Dogs at Grand & Pulaski is worth more than Chicago. And it's run better.♠️
Market cap is bullshit money, you can't compare it to GDP.
Perhaps Rahm can add a new tax....install a device on every vehicle that drives downtown and charge the vehicle $25 per occurrence of honking their horn. Was in Chicago last week, heard more 30second honks in 15 min. than I do all year at home. Same with ambulances, do those EMT's ever get a break during the day?
Let's give more money for illegal aliens. Why are the aldermen voting these bullshit scams?
(OT) all is good Ed Burke he's going to build tiny houses for the homeless as we give away billions for the mayors plan of one Chicago to support all the illegal immigrants and break every federal law and Eddie you were the police at one time correct you are now head of finance for a long time now correct? Why is our pension fund the worst find it in the nation it under 25%? You control the money you said you were the police but you don't stand up for us and fully find our pension! You also don't stand up for us and you allowed our criminal mayor to take away police retirees health care!
http://www.chicagotribune.com/news/chicagoinc/ct-tiny-houses-chicago-homeless-burke-0524-chicago-inc-20170523-story.html
Thank you to all that keep bringing up the pensions. It is all that should matter to us. What will you do when there isn't one? That 500k in deferred comp will be dried up in 5 years. Then what??
5/23/2017 10:18:00 AM
There's an FOP contract proposal to allow retiree VRI. Should allow all to maintain a 100k-a-year lifestyle in retirement.
Let's be real here. Apple is worth more than the entire Russian Stock Exchange.
If I was Apple the ONLY thing I would want from Chiraq is to dump as much of their product for as many of our dollars as is humanly possible.
Wait!!!!
That's what actually does happen.
Thank you to all that keep bringing up the pensions. It is all that should matter to us. What will you do when there isn't one? That 500k in deferred comp will be dried up in 5 years. Then what??
5/23/2017 10:18:00 AM
I'll probably have around a million when I retire, but I realize that might not even be enough without a pension. I can't even begin to imagine what some of the coppers that contribute $50 a check are going to do if there's no pension to be had. They may be moving into Alderman Arena's new "senior" low income housing building.
5/23/2017 08:24:00 AM
Anonymous Anonymous said...
There is a huge difference between market capitalization ( worth of a company) and gross domestic product (GDP) that which an entity produces. This analogy only works if the value of all the infrastructure, real estate, inventories etc in Chicago is valued at a big fat zero. The writer of the article is literally comparing apples and oranges and has failed econ 101.
5/23/2017 08:26:00 AM
I couldn't have said it any better. Market Capitalization and GDP aren't even the same thing. Very misleading argument. Also, if Chicago's GDP is in fact $581 Billion per year, Chicago isn't nearly as broke as Rahm would have you believe.
Anonymous Anonymous said...
Thank you to all that keep bringing up the pensions. It is all that should matter to us. What will you do when there isn't one? That 500k in deferred comp will be dried up in 5 years. Then what??
5/23/2017 10:18:00 AM
I'll probably have around a million when I retire, but I realize that might not even be enough without a pension. I can't even begin to imagine what some of the coppers that contribute $50 a check are going to do if there's no pension to be had. They may be moving into Alderman Arena's new "senior" low income housing building.
5/23/2017 10:24:00 PM
For all those that keep thinking there will be no pension to be had, think again. In order for this city to get out of paying these pensions, it would have to declare bankruptcy. In order to declare bankruptcy you actually have to be broke. Your bills have to be more than what you take in combined with the value of your assets. In the case of government like a big city, they also have to show that taxes can no longer be tapped into as a source of increased revenue. I hate to tell you all, but Chicago's property taxes are some of the lowest anywhere. This city is not Detroit. It's a far cry from it. And even Detroit ended up having to sell off assets and the municipal employees still got to keep their pensions with a 6.7% cut. But again, Chicago is a far cry from Detroit. Stop believing the bullshit people. Next time Rahm pulls $300 million out of thin air for one of his pet projects while crying broke to the media, stop and think.
How can a city on the verge of bankruptcy be worth $581 billion?
Cooking the books on steroids.
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