SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
*** UPDATED x1 *** Stand for Children wins big as CME wants a tax change

Monday, Jun 13, 2011

* Capitol Fax readers have been learning about Stand for Children’s attempt at big-footing Illinois politics since last October. It took the mainstream media months to catch up, even after Stand for Children accumulated and spent huge money during the election, and even as the group’s major issue, education reform, played out at the Statehouse.

Today, Gov. Pat Quinn will sign the education reform bill that probably wouldn’t have even been introduced without the group’s involvement. So, it’s the Tribune’s turn to catch up

As Edelman focused on Illinois last fall, he saw an opportunity. A new state law set to take effect Jan. 1 would for the first time limit the size of political donations, but the window was closing fast.

“I didn’t need a rocket scientist,” Edelman said.

He shook the money tree.

The people who quickly poured big bucks into Stand for Children’s campaign kitty include a Chicago-centric crew of philanthropists whose interests in improving education coincide with a willingness to write big checks. […]

The group didn’t spent it all, and it’s now sitting on about $2.9 million, a significant sum now that the biggest check an individual can write a political action committee is $10,000.

Go read the whole thing.

* Speaking of campaign contributions, the Chicago Mercantile Exchange gave big bucks last year to politicians who turned around and raised the company’s taxes - a move that Merc’s parent company says could force it to leave Illinois

The exchange has donated $1.27 million to Illinois politicians in the last two decades, with almost $500,000 of those campaign contributions coming in the last 1-1/2 years, including: […]

* Two contributions together worth $150,000 to state Democratic Party leader Michael Madigan’s efforts to continue as speaker of the Illinois House.

* A $50,000 donation to Quinn’s general election run last year, after the exchange gave $40,000 to the governor during the Democratic primary campaign.

* CME’s estimates of its state tax liability means it will pay about 5 percent of all new corporate income taxes generated by January’s tax hike. The company certainly has a point about the unfairness of the corporate tax structure here

But in the April interview, Duffy said the tax hike felt like a slap coming right after the company’s investment in Aurora, which created a lot of jobs in the state.

He also noted the state’s tax structure hits some companies harder than others.

A restructuring of the state’s tax law restricted the tax to profit on in-state sales and eliminated property value and payroll size from the formula. The change benefited multinational manufacturers with sales all over the world.

In fact, two-thirds of corporations filing Illinois returns owed no taxes in 2008.

“I’m not suggesting I have the answers,” Duffy said in April. But, he said, it would be better if everybody paid a little.

* And here’s what the company wants

CME Group may not only seek an incentive package. According to sources, the company is considering a request for a change to its industry’s corporate income tax formula. […]

Revising “apportionment rules” in this way would require the approval of the General Assembly. Already, some industries have different rules. For instance, airlines operate under a different tax formula than other transportation companies.

If the changes being considered by CME Group are approved, Illinois’ overall corporate income tax rate of 9.5 percent would remain the same for Chicago’s exchanges. What is subject to that rate would change, in order to lower the company’s tax burden. […]

CME Group is expected to argue that because of the way its business is structured and conducted, the company had the highest effective state and local corporate income tax rate among the top 50 Illinois public companies that paid those taxes in 2010. […]

According to an analysis of public filings obtained by the Tribune, CME Group’s state and local income tax rate was 8.9 percent in 2010. It was the only company in the 8-9 percent range; four companies had a rate between 7 and 8 percent.

* And while we’re on the subject of taxes, Mayor Emanuel says he wants to roll back the city’s head tax

Mayor Rahm Emanuel said today he remains committed to phasing out a corporate employee “head tax” that brings in about $19 million annually to the city.

“I believe it’s a disincentive for companies,” Emanuel said at a news conference to announce United Airlines will be bringing 1,300 more jobs to Chicago. “My goal is — and it will reflect it when I do my budget — that we will roll back a buck a year, so that over my term, it will be the $19 million that is quote unquote raised, will be eliminated.”

*** UPDATE *** Interesting

CME Group Inc. is looking to sell most of the Chicago Board of Trade building, putting one of Chicago’s most iconic structures on the market.

The disclosure comes less than a week after the exchange operator warned it may leave Illinois to avoid an increase in corporate taxes. Yet a CME spokesman said the sale of the Board of Trade building isn’t connected to discussions over a potential move and declined to say whether it would make an exit easier.

The 80-year-old Art Deco building is comprised of three towers and houses the trading floors for agricultural commodities such as corn and wheat and financial derivatives such as interest-rate futures. It was designated as a historic landmark in 1978 and anchors Chicago’s financial district.

CME said it has hired Jones Lang LaSalle Inc. and Holly Duran Real Estate Partners LLC to market the north and south towers, which include the trading floors for agriculture commodities. CME said it would lease back the space it currently occupies in the buildings, including the trading pits.

* Related…

* Education reform bill makes it tougher for teachers to strike, easier to be fired

* Jean-Claude Brizard: A push for longer school days

* Tribune editorial: The leadership gap

* Sun-Times Editorial: U. of I. must be open to kids of all incomes

* Sun-Times Editorial: Now not the time to cut preschool funds

* Editorial: State’s college savings programs fail

* Report: Suburbs spending more on lobbying

* Transit agencies spend big on lobbying at state level, study finds

* Report Maps $140M in City and County Savings

* Controversial O’Hare concession contract poses test for Emanuel - Mayor must support Daley’s selection process or start over

* Chicago’s new transportation chief sets a new course - Klein hopes to drive city toward public transit options

- Posted by Rich Miller        


55 Comments
  1. - Yellow Dog Democrat - Monday, Jun 13, 11 @ 11:42 am:

    It’ll be interesting to see how The Mayor closes the city budget gap while keeping his pledge not to raise property taxes and roll back the head tax.

    The problem with trying to cut taxes while cut expenses is that it creates a clear contrast for opponents to the cuts.

    “Mayor Emanuel wants to cut X while providing $19 million in tax breaks for Chicago’s biggest companies.”

    If you’ve got a good X, you’ve got a good argument.

    It also runs counter to the popular idea of “shared sacrifice” when some folks are getting tax cuts.

    Speaking of which, how about CPS giving the superintendent a raise while asking teachers to take a 4 percent pay cut?


  2. - Loop Lady - Monday, Jun 13, 11 @ 11:44 am:

    and I’m sure CME will get it…business is holding government hostage…I don’t think this is what the founding fathers had in mind when tey established the republic …BTW, I saw that Obama is placating Wall St. in order to get 2012 camapign cash…same thing, bigger scale…


  3. - Rich Miller - Monday, Jun 13, 11 @ 11:44 am:

    ===If you’ve got a good X, you’ve got a good argument.===

    Maybe, but those sorts of arguments don’t seem to play out well in Chicago mayoral elections.


  4. - Loop Lady - Monday, Jun 13, 11 @ 11:45 am:

    and I’m sure CME will get it…business is holding government hostage…I don’t think this is what the founding fathers had in mind when they established the republic …BTW, I saw that Obama is placating Wall St. in order to get 2012 camapign cash…same thing, bigger scale…


  5. - Rich Miller - Monday, Jun 13, 11 @ 11:46 am:

    LL, no matter how you slice it, one business in a state as large as Illinois shouldn’t be paying 5 percent of all corporate taxes while about 80 percent of companies pay nothing. No matter what you think of CME, that ain’t fair.


  6. - 47th Ward - Monday, Jun 13, 11 @ 11:49 am:

    I think they’re setting the table to go forward with Reilly’s plan to charge nonprofits for things like water and permit fees. That could bring in enough to cover the end of the head tax, but they’ve still got to find 26 votes for it, and there are a lot of nonprofits that will squeal very loudly before the checkbooks open.

    Why is it that you never see nonprofits threaten to leave the city or the state, only businesses?


  7. - Loop Lady - Monday, Jun 13, 11 @ 11:50 am:

    I agree with you…let’s have all corporations pay taxes, as do most individuals…it should be the price of doing business in the state…you and I both know that legislation requiring all corps to pay taxes in IL will never be written, let alone pass…


  8. - Rich Miller - Monday, Jun 13, 11 @ 11:50 am:

    ===Why is it that you never see nonprofits threaten to leave the city or the state, only businesses? ===

    Some of those nonprofits are pretty big businesses in their own right.


  9. - Rich Miller - Monday, Jun 13, 11 @ 11:55 am:

    Loop Lady, whether you live or work in the Loop, you must’ve at least noticed all those evil private employers. While I am 100 percent in favor of tax equity, mindless business bashing is not exactly a productive endeavor.


  10. - Anon - Monday, Jun 13, 11 @ 12:01 pm:

    I can understand CME’s frustration that they can’t use accounting tricks and what not to allocate their income to a lower tax state. If only we could restrict the practice in other industries.

    It isn’t like CME is saying they are being double taxed, its just under the rules, the majority of their income is taxable in Illinois. I would be interested in their solution, but a new formula sounds like a way for them to say only half or whatever amount of our income should be taxable.


  11. - Loop Lady - Monday, Jun 13, 11 @ 12:21 pm:

    I am not a business basher in the least…I am a let’s amend the tax code in order to make it equitable for all earners…have you noticed the middle class being shafted while corporate profits of late are in the black and then some…this is not captalism…it’s extortion by business interests…my husband ia a small businessman and would never be able skip paying taxes on his income…just sayin’…


  12. - crazy - Monday, Jun 13, 11 @ 12:22 pm:

    I understand why Mayor Emmanuel wants to eliminate the head tax- it is unfair for businesses to be penalized for hiring more workers. Bringing more jobs to Chicago does not deserve a tax. This is an example of government officials trying to make the state more business friendly…

    It will just be interesting how he will be able to find a solution to “make up” for the missing city revenue.


  13. - Anon - Monday, Jun 13, 11 @ 12:23 pm:

    “LL, no matter how you slice it, one business in a state as large as Illinois shouldn’t be paying 5 percent of all corporate taxes while about 80 percent of companies pay nothing.”

    I think in these cases you have to look at ‘overall tax burden’

    The corporate tax slice is just one slice of the many faceted tax pie.


  14. - wordslinger - Monday, Jun 13, 11 @ 12:52 pm:

    Excellent story by Harris in the Trib. The CME and CBOE trial balloons make a lot more sense now.

    The CME will probably get some relief because they’re players and they’re not going anywhere. The shareholders are here, the traders are here, the support services are here and they just made a big investment out in Aurora that ties them here even more.

    –Early next year, trading firms from across the country will begin moving their computer systems into CME Group’s new 428,000 square-foot Aurora data center, designed to ensure the fastest trade execution possible. So while a trader might place an order from St. Louis, his or her computer systems will be in Aurora, which subjects the CME Group’s fee from the trade to Illinois taxes.

    –It’s a bit of an oversimplification, but the only fees not subject to Illinois taxes are the ones generated from face-to-face trades on the floor of the CME Group’s New York Mercantile Exchange.

    –CME Group won’t be able to move its entire business out of Illinois, at least anytime soon. But it’s currently weighing how far it thinks it can move Springfield.–


  15. - Are Ya Kiddin' Me? - Monday, Jun 13, 11 @ 12:56 pm:

    CME is gone.
    You don’t sell one of your two assets, when you don’t have to. CME does not “make” anything. They push paper. This is not like Ford mortgaging all hard assets several years ago to fund R & D and production.
    CME is unloading their only hard asset so that they can move.


  16. - Rich Miller - Monday, Jun 13, 11 @ 12:59 pm:

    ===CME is unloading their only hard asset so that they can move. ===

    They’re keeping their trading floor, so I wouldn’t be so sure just yet.


  17. - wordslinger - Monday, Jun 13, 11 @ 1:19 pm:

    –CME is unloading their only hard asset so that they can move.–

    It’s a lease-back deal. They’re looking to raise cash for their shareholders, who are honked at the share price.

    They could move to anywhere on the planet, but if all their trades are running through their new Aurora center, they’re subject to Illinois tax.

    They want some relief and will get it. Shareholders are mad at management that they haven’t got it already, given the amount of money the pour into politics.

    You can get Tom Donovan would have had it lined up already, back in the day.


  18. - Anon - Monday, Jun 13, 11 @ 1:22 pm:

    Ya just keep pretending like they arent going anywhere. Keep pretending a corporate tax increase wont cost jobs. Keep pretending that people arent leaving this corrupt state…one day we will wake up and realize we’re in terrible shape.

    “”What? CME left? Didnt see THAT coming!” Yes you did


  19. - jerry 101 - Monday, Jun 13, 11 @ 1:24 pm:

    I would argue that CME is in defense mode, trying to ward off hostile takeover attempts. While they may be in the black, Rich pointed out the other day that they are not as profitable as some of their peers.

    Since they are publicly traded, this opens them up to a takeover attempt. So anything that boosts their bottom line, whether its doing a sale-leaseback of their building, or getting a tax break, will help them avoid that takeover.

    If there is a takeover of CME group, then we would see a big job loss. Any company looking to take them over is only looking to get their hands on all the trading work that CME processes. If a competitor takes them over, they’d be happy to move those operations right out of town and onto their own trading floor.

    I don’t feel bad for CME having to pay higher income taxes than other companies. I wonder why the other companies don’t pay more taxes. It’s unfair to CME. The other 80% should have a real tax bill to pay, which would go far in improving our budget picture. Of course, since we’re in a race to the bottom, that ain’t gonna happen.


  20. - soccermom - Monday, Jun 13, 11 @ 1:36 pm:

    Because all of those traders are just dying to move to Alabama. “Greeen Acres is the place to be, faaarm livin’ is the life for me…” And before you get started — I’m not bashing the rural life, coming from a farm family myself. It’s just that the traders I’ve known have not been the type of folks who dream of the quiet evening by the fireside with the cheery chirrup of crickets on the hearth…


  21. - fed up - Monday, Jun 13, 11 @ 1:39 pm:

    YDD,

    Its not a 4% pay cut that the teachers are being asked to take. It is forgoing a 4% pay increase. paychecks dont go down they stay the same . Doesnt sound nearly as dramatic as you want it to.


  22. - Johnston - Monday, Jun 13, 11 @ 2:17 pm:

    Soccermom is right.

    Time to call all these ’sky is falling’ chicken littles bluff.

    Illinois is one of the best states to do business in. Educated workforce, low taxes, responsible government (compared to Indiana, Wisconsin, Missouri, etc) low ratio of state employees to population

    CME should be begging to do business in Illinois.


  23. - Louis G. Atsaves - Monday, Jun 13, 11 @ 2:26 pm:

    I’ve actually stopped commenting on articles like these when it comes to the “business climate” in Illinois. Too many commentators think there is nothing wrong with the business climate in Illinois, which speaks volumes about our business climate or lack thereof.

    I guess when you push ill thought out tax increases during a lame duck midnight last night session, complaints rise. And for those businesses into long term planning, those newly redrawn legislative maps which will continue the “business climate” in Illinois for the next decade has to be a factor.

    So when Indiana, Wisconsin, Iowa and Missouri take pot shots against our business climate, we split hairs and try to show we are a nirvana or Garden of Eden for business in Illinois. Like trying to turn a lemon into a large grape.

    The article on the big campaign contributions is pretty amusing though!


  24. - Secret Square - Monday, Jun 13, 11 @ 2:37 pm:

    “all of those traders are just dying to move to Alabama”

    Probably not, but they don’t have to move THAT far away. I suspect they could find plenty to do in St. Louis or Milwaukee, or even Indy.


  25. - siriusly - Monday, Jun 13, 11 @ 2:42 pm:

    This may be a victory for Stand for Children in Chicago, but what about students in the rest of the state. Why can’t the suburban kids get a longer school day too?


  26. - soccermom - Monday, Jun 13, 11 @ 2:45 pm:

    Secret Square — I think if traders are looking for a great children’s museum or a wonderful zoo, they will enjoy Indy. But if they are looking for world-class dining and non-stop nightlife, they will have a hard time beating Chicago. (Unless they want to go to that low-tax mecca, New York City. Hey, maybe we could get the NYSE to come out here!)


  27. - soccermom - Monday, Jun 13, 11 @ 3:04 pm:

    There are 42 Fortune 500 companies headquartered in NYC. Guess those CEOs don’t know this:

    If your corporation does business, employs capital, owns or leases property for business purposes, or maintains an office in New York City, it is subject to the General Corporation Tax. This tax only applies to incorporated businesses (unincorporated businesses are subject to New York City’s Unincorporated Business Tax). If the corporation can demonstrate that a portion of its business was done outside New York City, that portion will not be subject to this tax. New York City’s General Corporation Tax is imposed at the highest of the following four rates:

    8.85% of net income from New York City sources;
    .15% of total capital allocated to New York City;
    8.85% of 30% of net income, plus the amount of salaries or other compensation paid to any person, including officers, who at any time during the year owned more than 5% of stock; or
    Minimum tax base of $300.
    S corporations are not recognized by New York City and are subject to full corporate income tax.


  28. - Rich Miller - Monday, Jun 13, 11 @ 3:08 pm:

    ===CME should be begging to do business in Illinois. ===

    I’m hoping that was snark.


  29. - wordslinger - Monday, Jun 13, 11 @ 3:08 pm:

    –Too many commentators think there is nothing wrong with the business climate in Illinois, which speaks volumes about our business climate or lack thereof.–

    I don’t think anyone has ever said that. You can’t get rattled, though, every time someone puts out a press release. That’s not good business.

    And, as Rich pointed out, if 80% of corporations aren’t paying ANYTHING in state corporate income tax, it’s not like an increase in the rate is a game-breaker, except to the gullible.

    If the 45 other states in the union with smaller GSPs were business nirvanas, they wouldn’t be looking to poach.


  30. - soccermom - Monday, Jun 13, 11 @ 3:11 pm:

    Rich, I completely agree that it’s unfair for one company to bear 5 percent of the total tax burden. But that is an argument for closing the loopholes that the other companies are enjoying — not for cutting the rate on a company that’s paying an appropriate amount.


  31. - Rich Miller - Monday, Jun 13, 11 @ 3:16 pm:

    soccermom, I believe that the corporate tax hike was a mistake. It’s unfair to those of us who pay both and it’s unfair to the few big guys who shoulder too much of the burden already. It should be rolled back and a far more equitable solution needs to be found.


  32. - soccermom - Monday, Jun 13, 11 @ 3:28 pm:

    You’ll get no argument from me that our entire state taxation system needs a gigantic overhaul. But I still think corporations should pay their fair share, and that it is shameful to increase the taxes of people who are making very low wages without increasing the tax on corporations that are doing very well. (And dude — if you’re paying both, you need a better tax attorney.)


  33. - VanillaMan - Monday, Jun 13, 11 @ 3:36 pm:

    Commentors are comfortable with how stuff is done in Chicago. But Chicago is a closed city compared to its competition. You have to know people here to get a deal done. That is a major problem when other cities hungry for business welcome new start ups.

    CME has to compete. Other corporations have to compete. HQing in a closed city like Chicago will no longer be optimal.

    We might keep what we have for now. They know who to deal with.

    But as long as the current way of doing business in Chicago remains in place consider the City not an attractive place for future businesses compared to other major cities.

    Tear down the status quo Emanuel. Or be another mayoral pallbearer for the Loop.

    Your choice.


  34. - Rich Miller - Monday, Jun 13, 11 @ 3:41 pm:

    soccermom, all my business is done inside Illinois.


  35. - wordslinger - Monday, Jun 13, 11 @ 3:48 pm:

    If any of the names in play did bounce, my guess would be Sears.

    They have a new CEO who’s known for spinning off assets for cash; they’ve recently begun the heretofore unheard of practice for them of licensing their best brand names — Craftsman, Kenmore, DieHard — to other stores; and they’re sitting on a huge under-developed NW suburban campus that they could a bundle on.

    If I were the Cheeseheads, that would be the Illinois biggie I’d go after.

    Sears Holding, through their Land’s End division, already has very large campuses outside Madison and Milwaukee. An I-94 addition would make a lot of sense, if the price is right.


  36. - wordslinger - Monday, Jun 13, 11 @ 3:52 pm:

    VMan, I assure you that the grand poohbahs at CME and CBOE aren’t closed out of anything in the halls of power in Chicago. That’s why their members are so honked and that’s why they’re playing catchup now.


  37. - soccermom - Monday, Jun 13, 11 @ 4:07 pm:

    Rich — this is getting above my paygrade, but it you reincorporated as an S corp, wouldn’t you avoid the corporate rate?


  38. - Rich Miller - Monday, Jun 13, 11 @ 4:07 pm:

    Yes, it is above your pay grade. lol


  39. - Loop Lady - Monday, Jun 13, 11 @ 4:16 pm:

    let the CME move elsewhere…all trading will be done online in the future anyway…stop sticking up Chicago, it’s just a matter of time folks…Quinn, don’t take the bait!


  40. - 47th Ward - Monday, Jun 13, 11 @ 4:18 pm:

    Rich, your bar tab is a business expense and I think you can deduct like 20% off your adjusted gross income. Maybe if you ever opened your wallet at closing time, your liability would be less and you wouldn’t be threatening to bolt to Indianapolis or Des Moines or wherever it is that will offer you the best incentive package.

    Just a thought.

    (*ducks under desk*)


  41. - soccermom - Monday, Jun 13, 11 @ 4:20 pm:

    Here’s a QOTD — what tax incentives should Rich request to keep him from moving his business to Madison?


  42. - Just the Facts - Monday, Jun 13, 11 @ 4:24 pm:

    CME is a service business that is very profitable. Therefore, they pay a substantial amount of Illinois tax. Capitol Fax is a service business that is very profitable. Therefore, Capitol Fax and Rich Miller end up paying a substantial amount of income tax. Just the Facts has a lucrative employment niche. Therefore, Just the Facts ends up paying a substantial amount of income tax. To pay less state tax you have to relocate to a lower tax or no tax jurisdiction and not conduct business in Illinois - not realistic for CME, Capitol Fax or Just the Facts - or figure out how to convince the legislature to reduce the tax rate, or modify the tax code to provide “incentives” (loopholes) for your particular industry. The manufacturers have been good at lobbying for “incentives,” apparently the service industries not so much. As an alternative, the service industries need to lobby to eliminate the “incentives” (loopholes) enjoyed by others and then lower the overall rate.


  43. - Rich Miller - Monday, Jun 13, 11 @ 4:34 pm:

    ===Maybe if you ever opened your wallet at closing time===

    Apparently, we haven’t had drinks together.


  44. - soccermom - Monday, Jun 13, 11 @ 4:40 pm:

    I have seen Rich pick up a check. A substantial check.


  45. - 47th Ward - Monday, Jun 13, 11 @ 4:49 pm:

    We have, just not lately. Soon I hope. Maybe poolside at Duffy’s in July?


  46. - Michelle Flaherty - Monday, Jun 13, 11 @ 4:57 pm:

    Wow Rich, you’ve transformed into Matt Murphy. Looking forward to your lt. gov bid.
    So you’d be OK with only hiking taxes on people, not businesses?
    And I believe what the CME is complaining about is the single sales factor approved in the later 90s. If I recall correctly the biz groups quietly backed Rod’s pension bond deal because they so feared he’d undo the single sales provision if it didn’t pass.
    Keep in mind, each “loophole” you close will result in its beneficiary crying foul and threatening to move elsewhere.


  47. - Rich Miller - Monday, Jun 13, 11 @ 4:58 pm:

    soccermom, I’m still swooning from that check.


  48. - Rich Miller - Monday, Jun 13, 11 @ 5:00 pm:

    ===So you’d be OK with only hiking taxes on people, not businesses?===

    Rod? Is that you?


  49. - Yellow Dog Democrat - Monday, Jun 13, 11 @ 5:06 pm:

    @fed-up -

    “forgoing” a 4% pay increase that you were promised is a 4% pay cut for the next fiscal year, any way you slice it.

    Its not like they can ask BP to “forgo” increasing gasoline prices next year.

    Meanwhile, Brizzard walks in the door making $20,000 more than his predecessor.

    His justification? “Other superintendents make alot of money too.”

    To be fair, Brizzard’s pay will rank 41st in Illinois.

    On the other hand, Chicago teachers rank 71st in pay.

    I think it sets the wrong tone for the upcoming debate on cutting waste at CPS for Brizzard to get a raise before his first day on the job.

    My suggestion: set the compensation of Brizzard and all CPS administrators to teachers’ average salaries.

    Pay them bonuses based on student performance beneath them.

    If test scores, graduation rates, and college admission rates remain flat, Brizzard makes what Huberman made.

    If they go up, his pay goes up.

    Ditto all the way down the line.


  50. - VanillaMan - Monday, Jun 13, 11 @ 5:52 pm:

    See what you guys are doing? You are fighting over who is to blame that CME wants out of Illinois. That is ridiculous.

    It shouldn’t be up to CME to cut a deal. Nor should it be Sears and anyone else thinking about moving out.

    There should be no reason to cut deals. There should be no reason we have to cut a deal to keep someone here.

    But we have to because the reality is that they want out.

    Who wants in? Who wants to expand? Who wants to be tomorrow’s start ups? The secret isn’t to cut a deal to keep yesterday’s big dogs in Illinois. The secret is to create a state where tomorrow’s big deals want to be born. Illinois is not that place.

    That is the problem.

    Curse all you want at CME and yesterday’s big dogs, but they are struggling against a future where they are losing their place. Sears is gone and has been replaced by Walmart. The 20th Century is gone and has been replaced by the 21st. Time is moving on. Depending upon a deal in order to keep companies in this state clearly exposes this state as a loser.

    Kvetch all you want about the decision makers, it has been the fault of the political decision makers that has prevented the needed market changes reflective within our state policies that have proven obsolete.

    You cannot florish with the attitude that you do not want someone nobody sent. And that is how Chicago has worked for over a Century. That attitude won’t win the future.


  51. - Plutocrat03 - Monday, Jun 13, 11 @ 6:02 pm:

    “low ratio of state employees to population”

    Not when you add all 7000 units of government to the working pool


  52. - soccermom - Monday, Jun 13, 11 @ 6:14 pm:

    Rich, I have offered to reciprocate many times. :)


  53. - truthteller - Monday, Jun 13, 11 @ 9:46 pm:

    Which program should be cut or which tax should be raised so we can give CME a tax break?


  54. - Michelle Flaherty - Monday, Jun 13, 11 @ 10:03 pm:

    VM, isn’t United expanding? Navistar consolidated here from other states.
    Pluto … so you’re against local control and prefer Springfield have more power? Hey, that’s the Mitch Daniels Indiana way. Forget local input, the state knows best. As we saw with links “base closure” bill, no one’s really ready to step up and start shutting down local government layers.


  55. - wordslinger - Monday, Jun 13, 11 @ 10:39 pm:

    VMan, you have to upgrade your game if you want to be taken seriously.

    The Fox and Friends coffee klatch stuff doesn’t cut it. I wish I could say you’re peddling Econ 101, but your game is not that sophisticated.

    Whatever. I remember you have kids. I hope they’re doing well

    Best to you and yours.


Sorry, comments for this post are now closed.


* Afternoon updates
* Question of the Day
* #AOLhacked
* GOP Leaders are "Nay" to Obama library
* Reilly talks up TIF changes over prop tax
* Morning Shorts
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............

...............

...............

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * 10 best Windows Phone apps for smarter working on the go
        * New Renders Show Off 'iPhone 6s' and 'iPhone 6c' Concepts
        * Seven-inch Samsung phone looks like tablet, while being a phone at the same time
        * iPhone 6 phablet delay, WP8.1 preview adoption, Amazon phone tilting & more – Pocketnow Daily
        * Google Play Stores holds Spring Premium Game Sale
        * Sense 6.0 update status for HTC One (M7) posted online
        * T-Mobile bribes BlackBerry users to switch to a Samsung Galaxy S5

        * OnePlus One Launched
        * Dragon Age Inquisition Release Date And New Trailer Unveiled (video)
        * COSMOS: A Spacetime Odyssey hits Blu-ray on June 10
        * Shelly Palmer Radio Report – April 23, 2014
        * Add ultracapacitors to the list of devices that could benefit from graphene
        * Microsoft Hotline Helps Entrepreneurs in India Build Tech Startups
        * NYPD Twitter Effort Ends Up As A Disaster

        * Rienzo tasked with slowing Detroit's powerful lineup
        * Leesman endures short outing in first start
        * Tigers 8, White Sox 6: Turning a mismatch into a game
        * Leesman endures short outing in first start
        * Ventura not basing decisions solely on pitch count
        * Gillaspie sits out with sore left hand
        * Relief corps showing signs of working into shape


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * Rauner draws City Hall rebuke over robocalls ti.....
        * Jim Oberweis nixes the bipartisan immigration r.....
        * Internal Memo Says Illinois Medicaid Paid $12 M.....
        * Lawsuit seeks investigation of hiring under Quinn..
        * Hastert among GOP supporters of immigration reform..
        * Correction: Illinois Medicaid-Overpayments story..
        * Emanuel rips Rauner over pension stance..
        * Illinois GOP congressmen warm to immigration re.....


        * Lawsuit seeks investigation of hiring under Quinn
        * Lawsuit against Mississippi gun dealer settled
        * Hastert among GOP supporters of immigration reform
        * Ex-radical group member says university ending job
        * Spring corn planting still sputters in key states
        * Death penalty case shifts focus to slain Ill. kids
        * Illinois audit: Police training money misspent
        * Man convicted in 1957 Illinois death appeals
        * Acco to add 162-job call center in Booneville
        * Bruce Rauner details some views on immigration

        * Clock ticking for states to adopt health exchanges
        * Madigan re-elected to lead state Democratic party
        * Hastert, other state Republicans supporting immigration reform
        * Lawsuit seeks investigation of hiring under Quinn
        * GOP lawmaker objects to 9-0 vote for Obama library
        * DNR mining-oversight official fired
        * Democrats: Illinois schools could face major cuts
        * State prisons to use costly drug for hepatitis C
        * Illinois Medicaid paying for dead clients
        * Quinn grants 43 clemency requests

        * Emanuel rips Rauner over pension stance
        * Madigan re-elected to lead Illinois Democratic party
        * Ebony editor-in-chief steps down
        * Ebony magazine puts Jet editor in charge
        * Ebony taps Jet editor to take top slot


        * No public money for Obama library
        * Ex-head of suburban religious organization denies sex harassment
        * FBI informant on tape hugging man before shooting him: prosecutors
        * Make graffiti taggers pay for vandalizing CTA buses, trains
        * CPS puts $100 million price tag on mayor's A/C-in-schools edict
        * Robo-calls raise Rauner-Rahm rift
        * Republican leaders say state can’t afford $100 million for Obama library
        * Oberweis apologizes as GOP leaders urge action on immigration
        * Cops: Man kills wife outside NW Indiana school, then takes own life
        * Two teens shot in South Shore neighborhood


        * 1 dead, 3 injured after CTA bus, van collide in South Chicago
        * Pawnshop that sold gun used to kill cop agrees to report more on sales
        * CPS mulls privatizing 3 more schools
        * Maywood man charged in weekend hit-and-run death
        * 8 wounded in separate city-wide shootings
        * 6 injured when South Side police chase ends in crash
        * CTA's new weapon in graffiti battle: suits against vandals, parents
        * Man accused of assaulting woman at Woodstock motel
        * FBI informant on parole denied bail in fatal shooting caught on video surveillance
        * Firefighters rescue man from burning building in Roseland


        * Initial Obama Library Vote A "Misunderstanding"
        * The Vanishing Millionaire Tax
        * Legislator Protests Madigan As Party Chair, Won't Say Why
        * Tax Returns Revealing ... But Not Revealing Enough
        * Quinn Releases Tax Returns; Rauner's Waiting
        * Illinois Senate Joins Push For U.S. Constitutional Convention
        * Quinn Signs Law Intended To Lower Cost Of Auto Leasing
        * Mayors' group pushes for Illinois pension reform
        * Two don't-miss events this Wednesday
        * Illinois Medicaid Paying For The Dead


        * Our Opinion: Top Teen making Springfield a better place
        * Our Opinion: Computer lab a boost for the homeless
        * Lawsuit seeks investigation of hiring under Quinn
        * Madigan re-elected to lead state Democratic party
        * Madigan: 'Misunderstanding' on Obama library vote
        * Hastert, other state Republicans supporting immigration reform
        * Audit: Treasurer's office has 30 guns not given to police
        * State audit: Police training money misspent
        * Amazon takes hit in states with online tax, study says
        * Bankruptcy court trial sought over $3.8 million paid to Parsons


        * IDNR wrapping up controlled burns across state
        * Decorative bags for Earth Day greet Decatur Kroger shoppers
        * Jackson County hosts asparagus workshop
        * Williamson County Child Advocacy Center gets re-accreditation
        * John Adams Jr.
        * Anne Otey
        * John Oakley
        * Gipsey Hicks
        * Lavell 'LD' Starrick
        * Charles 'Blue' Perschbacher


        * The 10th District money race
        * Aurora Democrat calls out IHSA
        * Lawyers: Ill. hazing law vague, unconstitutional
        * Ill. House OKs lower-cost hunting bill for seniors
        * Quinn’s running mate takes new consulting job

        * Nuke advocate attacks Obama - Reno News & ...
        * Grant puts AEDs in Clark County - Paris Be...
        * Congressman's staff in Neoga today - Journ...
        * Congressman to visit Renewable Energy Cent...
        * Shimkus Honors 100th Anniversary of Heath ...
        * Congressman to visit with constituents in ...
        * IRS Tax Breaks Available for Disaster Vict...
        * Shimkus accepting Congressinal Art entries...
        * Congressman to host art show at Tarble - D...
        * Shimkus tours EIU Renewable Energy Center ...

        * Loading Koch Industries Website Too Many T......
        * Maryland and DC among worst for food aller......
        * Cleveland State University to reestablish ......
        * Convicted political boss Al Sanchez runnin......
        * Candidates make last filings for local, st......

        * Illinois Lt. Gov. Simon opposes pension le......
        * Dillard Odd Man Out on Pension Deal Reaction...
        * Sen. Mark Kirk sides with Rauner on pensio......
        * Governor's race infighting threatens pensi......
        * SCHOONERS - Home of Everyone's Favorite Be......

        * Obama Administration Tightens Grip On Intelligence
        * Catching gangbangers on bikes?
        * You’d think it was still 20th Century by composition of immigration forum
        * CPS: Emanuel's Air Conditioning Mandate To Cost $100 Million
        * 6th Ward Alderman on CAN-TV's Political Forum
        * Reading the Tea Party Leaves
        * The Brick Stackers
        * Recipe for success
        * Court Critical Of Ohio Law Punishing Campaign Lies
        * Michigan Affirmative Ban Is OK, Supreme Court Says


        * Governor Quinn Promotes Welcome Home Illinois Program at Annual Affordable Housing Conference - Addresses Industry Leaders on State’s Improving Housing Market and New Program for First-Time Homebuyers
        * IEMA Encourages Participation in ‘America’s PrepareAthon!’ on April 30 - First National Day of Action Expected to Draw Millions of Participants
        * Redeploy Illinois Program Diverts Thousands of Youth From Prison System, Saves State $60 Million - New analysis of prison diversion initiative shows 54 percent reduction in juvenile incarceration
        * Illinois EPA Recognized for 40 Year of Graduate Public Service Internship Partnership with University of Illinois at Springfield - Agency Internship Programs Help Students Gain Real-World Knowledge of Environmental Protection and Regulations
        * Governor Quinn Proclaims Tuesday, April 22, Earth Day in Illinois - Urges People Across the State to Go Green and Continue Environmental Consciousness




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller