Corporate Exodus Continues
Big corporations have been leaving. Medium sized ones aren't getting all the headlines, but they're leaving, too:
The US Soccer Federation is leaving Chicago after more than two decades and relocating its headquarters to Atlanta, joining a growing list of companies moving out of the city.
The federation plans to build its first-ever National Training Center in Atlanta with a $50 million contribution from Arthur Blank, the founder of Home Depot Inc. and owner of Major League Soccer’s Atlanta United, according to a statement on its website.
The decision comes amid growing concerns by Chicago’s business community over public safety, which has prompted some of the city’s top executives to uproot their operations or express frustration over the violence. Ken Griffin, the founder of hedge fund Citadel, moved his company to Miami last year, citing crime as a factor, while McDonald’s Chief Executive Officer Chris Kempczinski has said it’s become harder to attract talent to the Windy City.
Recalling a famous quote:
How did you go bankrupt?
Gradually....then suddenly.
Labels: city politics
posted by SCC at 12:01 AM
57 Comments:
The famous quote from Mark Twain is: Two ways, slowly and all at once!
Speaking of people leaving, did anyone read the article about Minneapolis police department being down to 585 from 900 just 4 years ago? That includes the 100 new hires hired after the peaceful 2020 protests. Does anyone in this department know the actual number of people leaving monthly, seemed like a while ago everyone was talking about how low we’re getting, not saying we’re not low, we are, but seems like it kinda slowed down. Or are guy/gals just waiting til November to put papers in?
Let's not forget rahm who was paying his banker friends 8 percent on all of the city's loans when market rate was 1%.
The Soccer Federation left because Arthur Blank of Home Despot paid for them to leave.
They took a huge bribe, remember, that is the Chicago Way, bribe people!
BJ - Bye Jobs
Reminds me of Planes, Trains, and Automobiles. People yelling at Johnson "You're going the wrong way!"
While he's blissfully unaware, thinking everyone is crazy except him.
The signs were obvious under Rahm. We just didn't think the slide was going to pick up so much momentum.
And half the Democrats are happy to see them go.
Just wait for the collapse of the residential real estate prices.
The soccer federation is gone? That sounds like a win.
Chicago is testing its trillion-dollar derivatives cash cow with an eye-watering $800 million tax bill: ‘We don’t want to leave’
These are some of the derivatives firms that collectively handle trillions of dollars a year in trades, greasing the wheels of global markets with everything from stock options to corn futures. Most of them have called Chicago home for decades — providing thousands of jobs within the city’s $75 billion finance industry.
Now, the firms’ commitment to the Windy City is being tested by some $800 million in taxes proposed by a new mayor staring down a budget gap that’s swelled to half a billion dollars. One idea is a levy on financial transactions, which has alarmed companies already worried about a jump in crime that shows few signs of abating.
Behind the scenes, market makers and exchanges are working together to press their case with policymakers, with firms that typically compete with each other sharing data to help explain their economic benefits to Chicago. While executives haven’t explicitly threatened to leave, in private conversations it’s clear they will consider quitting the city if crime remains an issue and the financial transaction tax passes.
Some levies might be more palatable if there were encouraging signs the city is moving in the right direction, but just over 100 days into his administration, Johnson has yet to corral crime, with robberies up 24% and vehicle theft almost doubling this year even as murders fell 10%
full story >>
https://fortune.com/2023/09/18/chicago-derivatives-industry-800-million-tax-proposal/
“Every time you hear somebody call it cop city you know they aren’t telling the truth,” he said. “We don’t want to become the next Chicago or Detroit.”
https://theatlantavoice.com/we-dont-want-to-become-the-next-chicago-or-detroit-copy-city-proponents-speak-their-minds/
Office Depot to close in November
hpherald|10 hours ago
The Office Depot located in the Hyde Park Shopping Center, 5420 S. Lake Park Ave., will close its doors in November.
Same thing happened to Detroit. The flood gates are open and more will follow. You are witnessing the destruction of a once great city.
When Miami is a better option safety wise you know your
fucked
How is that Whole Foods in Englewood doing?
How are CVS and Walgreens doing?
Target and Walmart?
How is the local Mom and Pops doing?
How are the streetlights working?
EISEN: Chicago.
GRIFFIN: Chicago in particular.
EISEN: You were worried about safety?
GRIFFIN: Safety in Chicago wasn’t a worry. It was a reality. I had four colleagues mugged at gunpoint. I had a colleague stabbed a few hundred feet from our front door of our office. I had groups of kids rioting outside of our building and throwing shopping carts and items on passing cars. You can’t run a world class financial institution in a city where anarchy exists. I mean, the building I live in, in Chicago, had 25 bullet holes in the ground floor. The store, the Dior store across the street, they’d drive a van through to help facilitate robbing it. That’s anarchy. That’s not crime. It’s anarchy.
EISEN: You blame the local politicians?
GRIFFIN: Hundred, well, local, the governor, the mayor, 100%. The buck stops on their desk. When you’re elected governor of Illinois, you’re elected to keep the peace and he failed to do so.
EISEN: You think it’s a better situation now in New York?
GRIFFIN: I think New York and Chicago are completely different today, 100%. New York, New York’s at a interesting pivot point. Right now, things have clearly gotten worse. But I’ll give Mayor Adams credit. There’s a focus on fixing the problem. And there’s an embracing of the importance of fixing the problem. In contrast to what I saw from J.B. Pritzker and Lori Lightfoot, which was in some sense just an acceptance of the issue, and almost a willingness to support that chaos and anarchy by reducing the ability for the men and women who served in the police department to just maintain safety on the streets. I mean, in Chicago, there was a game. It was a game. Could you hit somebody hard enough to knock them out cold on Michigan Avenue.
EISEN: That’s terrifying.
GRIFFIN: That’s terrifying. And you lost a third of the retailers in what McKinsey described as one of the five greatest shopping districts in the world.
https://www.cnbc.com/2023/09/18/cnbc-excerpt-citadel-founder-ceo-ken-griffin-speaks-with-cnbcs-sara-eisen-on-tonights-special-cnbc-leaders-ken-griffin-at-8pm-et-.html
Stellantis' latest offer to the United Auto Workers could lead to the closure of 18 facilities but also repurpose an idled vehicle assembly plant in Illinois, sources told CNBC.
Perhaps they'll put up a tent base camp
Lot's of blood pollution burden on the streets bj should install blood leak justice monitors tax and fine leakers; Also I wouldn't put the air quality monitors too close to the police districts transient nomad flop houses disrespect the migrants
Mayor Brandon Johnson announces plans to address pollution burdens in Chicago's environmental justice neighborhoods
Chicago Tribune on MSN.com|8 hours ago
Mayor says the city will step up enforcement of pollution complaints, broaden community outreach and tap into newly available federal funds to deploy air quality monitors throughout Chicago.
Transfer of Wealth
Min wage tipped workers getting just the tip from Johnson and the 50 thieves
Compromise reached on plan to eliminate lower minimum wage for tipped workers in Chicago
CBS News on MSN.com|11 hours ago
The City Council is now expected to approve a plan to phase out the lower minimum wage for tipped workers over five years, instead of just two.
More flooding issues in Chicago's south suburbs
It one was to turn off the valves to the deep tunnel just think about the number of homes that would be burdened with flooded. Then one could get federal FEMA aid justice to stimulate chicagos economy fund pensions
The double bonus is that the mayors outreach program to tap more federal money to install pollution air quality justice monitors will detect the toxic sewer smells from the flooded basements and the victims can be fined thereby getting a piece of that victims FEMA aid
The entire concept is similar to when obama gave everyone a temporary payroll tax break that was immediately offset by prickster with an income tax increase
A peaceful celebration unfolded Monday at Daley Plaza in Chicago. The event marked the 45th year of the Peace Day gathering, featuring music and dancing -- celebrating 2,257 Chicago shootings and 467 homicides YTD in the mostly peaceful city
Mayor Brandon Johnson addressed the importance of such a day,
Get ready for the inevitable tax hikes coming your way. Only way they can continue to rob from rich and give it away to lazy uneducated.
Chicago to Atlanta? I could think of a dozen other locations before Atlanta.
I'm also moving to a red state as soon as I retire, too!
It's a no brainer for tax payers to leave Illinois these days!
As if Atlanta is any better hahahaha
Marxist do not give a fuck about the system going bankrupt. This is a Detriot-death spiral for Chicago, BJ is going to finish the job. The voters voted for it, media wants it to happen, people like BJ and JB will bounce once their work is done, they are not touched by their policies even now, they have protection details as big as POTUS, paid for by your tax dollars.
I can't imagine where this ends
Nothing new:
https://www.dailymail.co.uk/news/article-12532729/Chicago-finance-hub-new-taxes-Brandon-Johnson.html
coming soon to Chicago
Developer Builds A 60-Square Mile Illegal Alien Colony In Texas
https://www.zerohedge.com/news/2023-09-19/developer-builds-60-square-mile-illegal-alien-colony-texas
Chicago occupies 228.4 sq miles --world atlas
Detroit went bankrupt gradually starting with the 1967 riot and suddenly after the election of their version of BJ (Coleman Young.) The rest is history.
The safe-t-act will actually help cut down the violence, you see the criminal will see that his or her actions are non-productive and they will get jobs and create other million dollar jobs and make Chicago the new job destination location. Or they will just shoot you.
Weren't they housed in one of those old mansion by 18th and Prairie?
Groot isn’t fit to be the overnight clerk at a Circle K. She was a disaster from day 1 and her incompetence showed everyday she was in office.
All lies, city is doing great, try to buy a house on the north side in good condition for less than 700k. 🤡
Some could easily contend that it started under Shortshanks, the rest just wanted to dip their beaks too. He left and the rest are fighting over the remains of what was a fine city.
0110 SAYS:
A Trumplike Mayor is needed to save Chicago. The mayors of the recent past couldn’t successfully run a Kool Aid stand. Everyone knows it, yet come election time, they all do the wrong thing. Or do they ?
Yes soccer federation took a huge deal from the owner of the Atlanta soccer team (Arthur Blank - Home Depot). I guess the question here should be why did the owner of the Chicago soccer team who is supposed to be a backer of the city (Joe Mansueto owner of Morningstar) did not work hard to keep them here…might he the big Chicago city backer who cut a deal with Groot and Ald Ervin for a facility on CHA property (look that one up) now be thinkin twice about committing to his beloved city??…hello Joe let’s hear it
The push to allow illegal immigrants to vote has begun
Latinos are making economic gains in Chicago suburbs and deserve more political power
Chicago Sun-Times|3 hours ago
Latino population and income are rising in the Chicago area, but hardships like lack of affordable housing, unemployment and other barriers to opportunity are still problematic, two policy leaders writ
The funniest thing is when they started installing blood control kits all over the city accepting the violence and carnage from the shit birds instead of building a county jail that could fit 50,000 inmates. When a government chooses blood control equipment instead of locking up violent offenders you may have elected the wrong people into office. Surprised they haven’t mailed out tourniquets to all the citizens. Hey odds are your going to get shot eventually so here’s your individual blood control devise.
Anonymous Anonymous said...
Let's not forget rahm who was paying his banker friends 8 percent on all of the city's loans when market rate was 1%.
9/19/2023 12:22:00 AM
Well, when you have shit credit, you aren't going to see the going rate. That 1% rate is for those who pay their bills on time.
Good bye soccer, then the Bears, then Sox and then Cubs, Hey Hey Hey. goodbye!!!!! Im sure the Hawks are somewhere in between.
The thing that the progressives don't get is that money is mobile. The real rich will always find ways to protect their fortunes using off shore accounts and various accounting tricks. For the person in the middle, the only way out is to leave the state and that is what is happening in New York, California and Illinois. And no we are not going to be the next Detroit. More like Somalia with the street gang war lords and lawless mobs looting stores with impunity due to a break down of law and order.
The aldermen are just as responsible for the destruction Lightfoot and Johnson have done. They apparently don’t care about the well being of Chicago because they don’t push back at ALL! I haven’t heard one peep from them about the endless illegal migration destroying Chicago. This will be the death blow to Chicago. It’s unsustainable.
More leaving Trillions of dollars:
https://www.chicagotribune.com/business/ct-biz-chicago-trading-derivatives-20230918-dfmb7b2mzbfgbjnqv5dosxrrxm-story.html
In the coming years pensions will be cut in half!
I remember telling my folks (RIP)... when they saw the neighborhood change, though the years...."It didn't change at once....it happened BIT BY BIT."
You look at Chicago, since the 1960's, and I'm not from IL, nor LEO, but my take:
Richard J. STRONG, LABOR, RIOTS, DEM.CONVENTION
Bilandic
Byrne SUPPORTED POLICE
Washington First black mayor Reagan:ridding air traffic controllers.Unions never same.
Orr Acting mayor
Sawyer Wrigley Lights
Richard M. Not his father, in my mind.
Emanuel "never let a crisis go to waste." -
Lightfoot First lesbian -tore down Columbus statue
Johnson "Kids just being silly." "Let's not demonize."
So now you do not vote for most qualified. You want the "first" (fill in the blank.)
The schools are for crap, the violence is something never dreamt of years ago,
a once bustling downtown/loop is a ghost town.
2023 is not 1967....anywhere. The factories are gone. Media ultra-left!
The Democrat of today is not like the beloved John F. Kennedy!
Whatever happened to "reaching for the stars?" "The city that works?" "What dat?"
I will never understand, if you lock your car, you lock your hose, why don't you take care of your city, county, state or country????? Follow the money? Agenda?
SCC: Always love your take on things. Only the strong survive!
Home Depot funding soccer...go figure...you can find players often lingering in the back of thier parking lots
In normal cities, law enforcement arrests criminals, and grocery stores stay open. In Chicago, criminals are free to do as they wish, grocery stores are run out of business, and the mayor thinks socialism is the only possible solution.
Mayor Brandon Johnson is now proposing government-owned grocery stores in order to combat food deserts in the city, as four Walmart locations and one Whole Foods have all recently closed. Walmart claims its Chicago locations have not been profitable since they opened them 17 years ago, but the “tens of millions of dollars” in losses have “nearly doubled in just the last five years.”
https://www.msn.com/en-us/news/other/chicago-turns-to-socialism-to-fix-its-self-inflicted-crime-problems/ar-AA1gXvbO
Chicago Police Mayor Branden Johhson's Marxist Foot Soldiers
Lets get real it is what it is.
Police stations are fugitive safe houses now for child traffickers, cartel drug pushers and terrorist sleeper cells. How does one square that with an oath to protect and serve US citizens in our communities. How?
Gaslight us on how noble the job of Chicago police officers are when they are complicit in the destruction of our community, economy and culture.
If you work for a Marxist sanctuary city mayor you support and empower their criminal sanctuary city policies by default
with Chicago’s descent into pro-criminal policy and the lawlessness that followed. The U.S. Chamber of Commerce estimates that more than $2 billion in goods were stolen from retailers in Illinois in 2021, while Chicago arrests for retail theft dropped dramatically since the start of the pandemic. Chicago is simply refusing to (or is unable to) arrest and prosecute shoplifters, and it is predictably hurting normal residents who simply want to be able to buy food.
Gee whizz 10% sales tax on $2 billion dollars of goods is $200 million in lost tax revenue in addition to the increase in prices stupid law abiding chumps have to pay to offset the losses and thereby unwillingly subsides the crime and a police department that follows their do nothing orders and play victims on the taxpayers dime
Building back better from the illegal immigrant bottom up and the middle class can get the fuck out.
The poverty moves in and anyone that has the means (the money) to do so moves out.
Johnson is part of that problem, actively defending criminals and their criminal actions and celebrating any and all policies that put criminals back out on the street as quickly as possible and his foot soldiers are his accomplices
True patriots would not be supporting/working for such a criminal organisation that is destroying the economy, our culture and the nation. Walk away.
Stop playing the victim with the "I am just doing my job" bullshit
Hard to hear I know but that is the growing sentiment of the community. Police station fugitive safe houses. Think about your actions and who you are. If you are not allowed to do the job in the manner that you feel the job should be done take a job somewhere else that represents and respects your values. Stop being a political tool useful idiot sellout until you do nothing is going to get any better. or crying out loud stand for something you believe in.
FLEE!!
Blue States will get "bluer" and Red States will get "redder."
Anonymous said...
In the coming years pensions will be cut in half!
9/19/2023 12:32:00 PM
Well they better invent a Time Machine too because us retired people need to go back in time and not take the test and except the offer from the city to do this job, because we will have nothing to live on and won’t be getting social security either. The city promised us an earned pension in return for contributing to the fund and our willingness to risk everything for Chicago. They created the mess they need to fix it. Stop reckless spending!
Lots of small businesses folding their tents on NW side too.
And Not a word in the BULL S-it media. Wonder why?
Why no cannabis shops in African American neighborhoods? Street gangs said no way Jose. A cannabis desert? Open up a city owed cannabis store? How about a city owned liqour store? A currency exchange? How about a dry cleaners. City of Chicago “tasty sub” why not a store front church “Chicago owned poverty pimps”
Jaba the Hut wants to gut downtown, have the renters leave the buildings and let them forclose. Jaba will come in and buy it all up for a song. Hey did u see his sister Penny was just appointed a cushy spot by the Biden regime? Thats a big clue.
Governor Pigster the big fat ass tub of shit ! Chicango is quickly becoming the new Detroit in every way complement of the progressive communist Democratic Party, and all the brain dead ass holes that voted them into office !
Post a Comment
<< Home