Capitol - Your Illinois News Radar » *** UPDATED x1 *** Berrios runs TV ad attacking Democratic primary opponent Kaegi
SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
To subscribe to Capitol Fax, click here.
*** UPDATED x1 *** Berrios runs TV ad attacking Democratic primary opponent Kaegi

Monday, Dec 11, 2017

* We’ve talked about these two guys all day, but there’s a new development…

* So, I asked the Berrios campaign for the ad

* Announcer’s script…

They’ve been called inhumane, immoral, a private gulag.

But for-profit prisons only meant profit for Fritz Kaegi.

Kaegi personally managed a fund that invested in nearly thirty million in private prisons. Prisons where women refused food to protest abuse of guards. Immigrant children as young as five were held and detainees died suspiciously.

But Kaegi? Only saw profits. Fritzk Kaegi doesn’t share our values.

* Earlier today, the Berrios campaign claimed this

Fritz claims that during his tenure at Columbia Wagner Asset Management he would not have allowed investments in private prisons because he finds them morally reprehensible. He is clearly misleading voters because as a senior portfolio manager of Columbia Acorn Fund (ACRNX) he designed and executed investment strategies for the fund. Most notable are:

    $29 million invested in the Corrections Corporation of America, a private prison operator that lobbied for legislation increasing incarcerations in the U.S. Such policies have been shown to unfairly target African Americans, Latinos, and undocumented immigrants.

* From the Kaegi campaign’s response

The Berrios team’s latest statement about Fritz’s alleged investments in private prisons is replete with blatant lies–hallmarks of Assessor Berrios’ disturbing flagrant perpetuation of economic inequality. This is yet another feeble Berrios attempt to deflect public attention from the Assessor’s own scandal by lying to voters. Their statement this morning calling lifelong progressive Democrat Fritz Kaegi a ‘Wall Street Republican’ would be laughable if the ease with which Berrios’ campaign lies to voters wasn’t so troubling.

…Adding… Berrios campaign…

Hey Rich,

Fritz keeps denying that he worked at Columbia Acorn Fund. Here’s the proof. See attached prospectus and the SEC and form NQ.

    The Columbia Acorn Fund (ACRNX) Invested in CoreCivic, Inc. During the Six-Month Period Ending March 31, 2017; Company Reported Its CoreCivic Stock Was Valued at $29,111,038 at the Time. According to a semi-annual N-Q disclosure document filed with the U.S. Securities and Exchange Commission (SEC) on May 26, 2017, ACRNX owned 926,513 shares of CoreCivic, Inc. Those shares were valued at $29,111,038. [N-Q,, filed 11/28/17; N-Q,, filed 5/26/17; Columbia Semi-Annual Report,, 12/31/16]

Corporations Corrections of America is now known as CoreCivic as having to rebrand.

The attachment is here.

*** UPDATE *** Part of a press release from the Kaegi campaign, which calls the ad “slanderous”…

“The Berrios campaign keeps pointing to Columbia Acorn Fund holdings as of March 31, 2017. But Fritz was not a portfolio manager on the Columbia Acorn Fund at this date. He provided notice of his resignation on February 28, 2017, and stepped down from the funds he managed on March 13, 2017. This SEC filing reports the change.

“There are some companies appearing on the March 31, 2017 holding statement that Fritz’s successors purchased because Fritz was no longer there to block them. CoreCivic is among these. “There is not a single document listing CoreCivic as a holding that also lists Fritz as a portfolio manager, because he never was.

“Why did Fritz block the purchase of these kinds of companies? He has always believed these were bad companies in a bad business which have a devastating impact on communities. CoreCivic, previously known as Corrections Corporation of America, changed its name a number of times to hide the nature of its business. They have opaque accounting and contracting practices. They try to change how the market views them, dressing themselves up as real estate companies.

“Additionally, Fritz understood that these companies were running up against a pronounced change of attitude of the American people, toward our country’s failing policies of mass incarceration. Private prison companies were selling something that the American people and governments increasingly did not want. All of these dynamics made for a hugely risky, unattractive investment prospect. They were morally wrong, and they were bad investments. Every time someone suggested an investment in these sorts of companies, Fritz rejected it. The Acorn Fund never owned shares of these companies while Fritz was managing it.

“Assessor Berrios tells a malicious lie that Fritz Kaegi invested in or profited from these companies. Fritz demands a retraction and personal apology from Joe Berrios for making these slanderous charges.”

- Posted by Rich Miller        

  1. - TKMH - Monday, Dec 11, 17 @ 6:49 pm:

    Kaegi made a passive investment in a public company on behalf of his investors. It’s not a glamorous company, and is rife with ethical problems. It was a passive investment; he seems to have had no ability to make operational changes within CCA.

    Berrios actively rigged the system he runs to punish the poor for owning homes and give the wealthy an escape hatch. He is at the helm of what’s left of the old guard political machine, which tries to destroy up-and-coming progressives (see: Will Guzzardi).

    There is no question who’s worse.

  2. - TopHatMonocle - Monday, Dec 11, 17 @ 6:52 pm:

    On one hand, it’s smart to start running ads now before people tune out due to the inevitable crush of ads from Pritzker and Rauner. On the other hand, I would bet not many people know who Fritz Kaegi is at this point and this goes over their heads. This is a good ad but something positive to counteract the recent negative press is probably more necessary.

  3. - Rich Miller - Monday, Dec 11, 17 @ 6:55 pm:

    ===This is a good ad but something positive to counteract the recent negative press===

    Short of showing Joe personally rescuing 300 puppies from a raging warehouse fire, I doubt there’s much of anything that he can do to counteract his own negatives. He’s just gotta go negative and stay there.

  4. - Rich Miller - Monday, Dec 11, 17 @ 6:56 pm:

    And not 299 puppies, either. 300.

  5. - Amalia - Monday, Dec 11, 17 @ 6:57 pm:

    wow that is a good issue for Berrios to use for negative ads. The liberals hate that.

  6. - wordslinger - Monday, Dec 11, 17 @ 6:59 pm:

    The Eric Cantor mistake. An unpopular but powerful incumbent spends money to raise the profile of an unknown challenger with no money to do it himself.

    Don’t believe Rauner and the tronclodyte edit board: these guys aint geniuses; the other guys just haven’t been that good or tried.

  7. - blue dog dem - Monday, Dec 11, 17 @ 7:06 pm:

    Is this the Chicago style politics we downstaters despise so much? This stuff doesn’t happen down here.

  8. - Oswego Willy - Monday, Dec 11, 17 @ 7:09 pm:

    ===This stuff doesn’t happen down here.===

    This has to be snark…

  9. - Rich Miller - Monday, Dec 11, 17 @ 7:15 pm:

    ===This has to be snark===


    I should hope so.

  10. - wordslinger - Monday, Dec 11, 17 @ 7:20 pm:

    –Is this the Chicago style politics we downstaters despise so much?–

    You only speak for yourself, huckleberry. Don’t slur a whole region with your juvenile dreariness.

  11. - A guy - Monday, Dec 11, 17 @ 7:38 pm:

    This is just weird. With only one direction to go; weirder.

  12. - Anonymous - Monday, Dec 11, 17 @ 7:42 pm:

    C’mon fellas give an old geezer a few props

  13. - Blue dog dem - Monday, Dec 11, 17 @ 7:43 pm:


  14. - Just Me - Monday, Dec 11, 17 @ 7:43 pm:

    It’s pretty sad when you have to start your campaign going negative.

  15. - Blue dog dem - Monday, Dec 11, 17 @ 7:47 pm:

    Word. I had me some micobrew from Scratches over the weekend made from huckleberries. Kinda hard to swallow. Reminded me of gooseberries.

  16. - Lady Lefty - Monday, Dec 11, 17 @ 8:41 pm:

    In some way, I feel bad for Berrios and his team. They have to really dig to fabricate a story. This is all a complete lie that should be laid to rest like his tenure in the assessor’s office.

    More fun question - Who do you want to see as the Chairman for the Cook County Democratic Party?

  17. - Responsa - Monday, Dec 11, 17 @ 8:56 pm:

    Ugh.Joe, I can’t even…

  18. - TopHatMonocle - Monday, Dec 11, 17 @ 9:22 pm:

    Speaking of puppies, I wonder what Kaegi’s position is on puppy euthanasia. We don’t need another Bill Brady around here.

    His campaign’s statement seems really fishy to me, and the parsing of the dates doesn’t pass the smell test. I find it hard to believe that a decision to make an investment that large was made in just the 2 weeks after he left.

  19. - Telly - Monday, Dec 11, 17 @ 9:37 pm:

    That’s a very well made ad. I’m still voting for Kaegi…or anyone else who isn’t Joe Berrios, but I admire the work.

  20. - Perrid - Monday, Dec 11, 17 @ 10:36 pm:

    So in the 2 weeks after he left the company someone immediately dumped 30 million into a private prison? Possible, I guess…

  21. - Downstate43 - Tuesday, Dec 12, 17 @ 8:52 am:

    Serious question - this type of tenuous connection to the “issue” of private prisons is a big deal in a Dem primary in Cook?

    *Issue is in quotes because until the government provides enough funding for corrections in most states and at the federal level, there is basically no other solution.

  22. - NorthsideNoMore - Tuesday, Dec 12, 17 @ 9:26 am:

    Thats a campaign theme in the race for assessor ? So this is the new (low bar) normal….Any wonder why the public is turned off by elections?

  23. - Carlos - Tuesday, Dec 12, 17 @ 10:26 am:

    I wonder if former Rep Edgar Lopez’s wife is supporting Joe ?

  24. - Cryptocurrency market Analysis - Tuesday, Dec 12, 17 @ 12:15 pm:

    Companies have fled with purchasers’ Bitcoins.

  25. - Arthur Andersen - Tuesday, Dec 12, 17 @ 12:38 pm:

    Berrios & Co. should find a real shareholder in the Acorn Fund who could inquire of Columbia exactly when the investment in CoreCivic was made. Not that they really have an issue unless Fritz was fibbing about his involvement, which I doubt.

  26. - Imoove2.Obenef.Com - Tuesday, Dec 12, 17 @ 1:26 pm:

    For those who intend to win the Internet advertising laptop recreation.

  27. - Colin O'Scopey - Tuesday, Dec 12, 17 @ 4:31 pm:


    Has your blog been spoofed? What are these links at 12:15 and 1:26? Looks ominous…..

  28. - Shytown - Tuesday, Dec 12, 17 @ 4:34 pm:

    Whether the accusations are true or not, it doesn’t matter. This is the business we’re in folks. And while I believe Fritz’s campaign, this is damning ad among african american voters if Berrios can keep putting real money behind the issue via paid media.

  29. - JustWondering - Tuesday, Dec 12, 17 @ 7:47 pm:

    So in other words, the Cook County Assessors Office oversees the way that prison privatization works? Because if not, it is what I think it is - a way for Joe to get away from the fact that he’s built one of the biggest Chicago rackets since Prohibition and is working hard to find a way to protect it.
    Sure enough, I looked: No reference yet to financing private prisons. Sorry, but #JoesGottaGo

  30. - Chester - Tuesday, Dec 12, 17 @ 10:02 pm:

    Cryptocurrency change rates can fluctuate vastly.

  31. - ecommerce conferences 2017 - Tuesday, Dec 12, 17 @ 11:51 pm:

    Amazon Web Services is an Equal Alternative Employer.

  32. - - Wednesday, Dec 13, 17 @ 6:04 am:

    There are round 21 million bitcoins in the market.

  33. - Rachel - Wednesday, Dec 13, 17 @ 6:38 am:

    Wider cryptocurrency markets stay subdued.

Sorry, comments for this post are now closed.

* Caption contest!
* Federal rules protecting net neutrality have expired! Support House Bill 4819
* Harmon says he has votes in Senate for gun shop licensing override, but future still unsure
* It's just a bill
* Rauner makes "official" trade show announcement seven months after it was announced
* *** UPDATED x1 *** Biss says he wants more details about Pritzker's progressive tax plan, Rauner campaign agrees
* Question of the day
* *** UPDATED x1 *** Why was Travis Reinking allowed to keep his guns?
* Comptroller: State racked up "two decades worth of late payment interest penalties in just over two years"
* Madigan says he hasn't made up his mind on legalizing marijuana
* Illinois Legislators: Make Health Coverage Fair by Supporting HB 4146
* Rauner's new website slams Pritzker-Madigan "corruption"
* Today's must-listen: Madigan and lone chairmanship "No" vote together on Joravsky's show
* *** LIVE *** Session coverage
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's stories

Visit our advertisers...









* Illinois gun dealer licensing veto override vot.....
* Gun dealer licensing veto override vote could h.....
* VIDEO: GOP governor candidate Jeanne Ives: 'Not.....
* No gun-licensing override, deadline for action .....
* No gun-licensing override, deadline for action .....
* No gun-licensing override, deadline for action .....
* No gun-licensing override, deadline for action .....
* GOP governor candidate Jeanne Ives: 'Not hiding.....

* That's a heavy lift: Rhino at Illinois zoo undergoes CT scan
* Man who disarmed Waffle House shooter hailed by lawmakers
* Will County officials to use 50 percent renewable power
* Court bars winner of 2017 mayoral election from office
* Autopsies unclear on cause of mother's and daughter's deaths
* No gun-licensing override, deadline for action is Wednesday
* The Latest: Suspect faces new charges in shooting
* Court to rule on Illinois village's right-to-work ordinance
* The Latest: Colorado woman urged FBI to 'hold on' to suspect
* The Latest: Rifle seized at Waffle House suspect's apartment

* Gun dealer licensing veto override vote could happen today
* Appeals court to rule on lawsuit over right-to-work ordinance
* Senate OKs bill to nearly double home care workers' pay
* 4th death reported in Illinois linked to synthetic marijuana
* Google aims at Illinois' privacy law after Facebook lobbying failed
* Illinois Lottery sells tickets for instant games after top prizes are gone
* Michael Madigan wins re-election as Democratic Party leader
* Champaign-area bus company faces harassment lawsuit
* Illinois' late fees skyrocket over past 3 years
* State paying bills, but not late-payment interest

* From 'Mayochup' to potential mayhem: Kraft Heinz and social media
* Sinclair agrees to sell 23 TV stations as part of Tribune deal
* Sinclair agrees to sell WGN-TV—but would still control it
* Robert Malott, CEO who wrestled with Boesky's crimes and Continental's downfall, dies at 91

* 2 men shot in Chicago Lawn
* Man, 45, critically wounded in Lawndale shooting
* Police: Man shot to death in Austin
* Bears GM Pace has been around for 3 seasons but doesn’t have much to show for it
* Ex-Cubs manager Baker says he would represent Giants if elected to Hall of Fame
* Cubs find Legend of Kyle Schwarber right where they left it: Cleveland
* ‘Avengers: Infinity War’ unites Stark and Star-Lord in a massive Marvel mashup
* 36-year-old woman stabbed in face in Englewood, suspect in custody
* Madonna loses battle to prevent auction of Tupac letter
* Judge rules against ending DACA

* 1 dead, at least 10 wounded in Chicago shootings since noon Tuesday
* For Bears to nail this draft, they must find a high-quality player at the top of Round 2
* First lady steps into spotlight for state visit with France
* Kyle Schwarber and Ian Happ pace Cubs to 10-3 victory over Indians
* Cubs pitcher Tyler Chatwood trying to find his groove on the mound
* Parolee who escaped custody on South Side arrested in Glenview
* Federal judge orders Trump administration to continue DACA program and accept new applicants
* By utilizing whole field, Kyle Schwarber putting 2017 slump far behind him
* Trump on North Korea: Kim Jong Un is 'very open' and 'very honorable'
* Rick Renteria, White Sox's 26th man, ejected in 1-0 loss to Mariners

» April 24, 2018 - Full Show
» Proposal To Get Pre-Trial Detainees A Chance To Vote From Jail Passes IL House
» Getting Books To Illinois Prisons; Virtual Medical Interpreters; Chicago’s Gang Database
» Illinois Pushes For State Net Neutrality Rules After Federal Rules Expire
» Prince Heirs Sue Illinois Hospital Over Care During Overdose
» Immigrants Shine In New CPS Varsity Sport
» State Legislature Considers Tougher Penalties on Texting While Driving
» April 20, 2018 - Full Show
» April 23, 2018 - Full Show
» Madigan Elected For 6th Term As Democratic Party Chairman

* Gun dealer licensing veto override vote could happen today
* Our View: Budgets should include estimates of late payment interest penalties
* Guest View: Illinois’ 4 pillars of bad budgeting
* Byron York: Is 'can't prove untrue' the new standard in Trump probe?
* Marc Thiessen: Veterans deserve better
* Catherine Rampell: Tax cuts were supposed to save the GOP from Trump. Oops.
* Appeals court to rule on lawsuit over right-to-work ordinance
* Senate OKs bill to nearly double home care workers' pay
* 4th death reported in Illinois linked to synthetic marijuana
* Google aims at Illinois' privacy law after Facebook lobbying failed

* Winning streaks
* Rodgers returns to B-N for Red Cross event
* Ahead of the curve: Students in the CEO Program show off their businesses
* First phase of Main Street Landing, fireworks ordinance on council agenda
* Davenport unveils neighborhood revitalization goals
* Lawmakers want Quincy Legionnaires' report by Friday
* Board OKs asbestos contract
* Union leaders vow to protect Shop 'n Save jobs as parent company plans to sell stores
* Court to rule on village's right-to-work ordinance
* Overtime session could continue for weeks

* More is too much in ambitious 'Avengers: Infinity War'
* Arrests loom after Peruvian villagers 'lynch' tourist
* Boys volleyball: It's Buffalo Grove over Wheeling, in a close one
* Boys tennis: Neuqua Valley beats Naperville North
* Boys lacrosse: Glenbard West clinches conference, Bucket

* House Democrats talk to Cambridge Analytic...
* US Rep. Randy Hultgren visits McHenry's Pi...
* Are Illinois Congressmen safe in wake of D...
* It's official: If you prepaid your propert...
* A quick look at a few congressional races ...
* Underwood hopes winning primary formula ca...
* House Approves American Space Commerce Fre...
* Democrats aim to turn Obamacare into asset...
* Bustos pushes to make 'blue wave' happen i...
* Lamar Smith visited Galápagos, where warmi...

* E-Cigarette Sting Operation Prompts Warnin......
* FDA Cracks Down On Juul E-Cigarettes Popul......
* E-Cigarette Sting Operation Prompts US War......
* A tough re-election climate tests the chum......
* Senators Cling to a Fading Custom Trump's ......

* Tammy Duckworth and Working Moms Like Mine...
* The Senate celebrates Sen. Tammy Duckworth......
* Editorial: Up to the task...
* I'm a legislator and a mom. Tammy Duckwort......
* Tammy Duckworth is uniquely privileged, bu......

* Martysaurus Rex: A Creative Life More Important Than Football
* Piece's TV
* The [Wednesday] Papers
* Woman Missing From Buena Park
* Online Learning Shouldn’t Be ‘Less Than’
* Florida’s push for online courses benefits all, including STEM students
* Universities must expand reach to stay competitive
* Class Central Learner Survey (2017): MOOC Users Highly Educated, Have Experienced Career Benefits
* TenMarks to shut down operations after 2018-19 school year
* ABA proposal would allow law schools to offer more classes online

* IEMA Highlights Role of Volunteers in Disasters
* Governor Rauner activates State Emergency Operations Center in Springfield
* February Flooding Information
* IEMA Urges People to Prepare for Severe Weather
* Governor issues state disaster proclamation for flooding in Iroquois, Kankakee, Vermilion Counties

* WhatsApp to raise its minimum age to 16 in Europe
* PayPal Credit and Barclays can no longer be used to finance Apple purchases in UK
* Say goodbye to Google Play Music, and get ready for YouTube Remix
* The OnePlus 6 will be officially announced on May 17 in China
* Enterprise developers keep reaching for the cloud
* The LG G7 has a 'super bright' 6.1-inch LCD screen
* Instagram rolls out batch uploads to Stories

* White Sox Minor League Update: April 24, 2018
* Mariners shutout White Sox, rubber match Wednesday vs King Felix
* Renteria tossed arguing called third strike
* Relievers keep M's in check, but White Sox fall
* Renteria tossed arguing called third strike
* Renteria tossed arguing called third strike
* Relievers keep M's in check, but White Sox fall

Main Menu
Pundit rankings
Subscriber Content
Blagojevich Trial
Updated Posts

April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
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


RSS Feed 2.0
Comments RSS 2.0

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