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.

TrackBack URI

Sorry, comments for this post are now closed.

* Open thread 2
* Open thread
* DHS slammed after care disrupted for "thousands" of mentally ill
* Mendoza wants emergency Deloitte contract review
* The plot thickens on Rauner's AV
* SUBSCRIBERS ONLY - Important update and a supplement to today’s edition
* Frerichs: Don't use new federal rules on 529 programs for state taxes
* "Watchdog" flatly denies getting money from Illinois Policy Institute, but group funded 98 percent of budget
* Governor promised "superstar" appointee a year ago, hasn't delivered
* Chicago survives the first cut in Amazon HQ2 sweepstakes
* Rauner to air entire Blagojevich/Pritzker audio this weekend
* Adlai III endorses Biss
* Yesterday's stories

Visit our advertisers...






* Illinois Seeking “Right to Sunscreen”..
* How to reverse Illinois’ exodus and improve min.....
* Illinois clinic provides abortions via telemedi.....
* Morning Spin: Pritzker, Kennedy, Biss to square.....
* Dawn Patrol: Rauner promises property tax fix -.....
* Illinois education officials want to double sta.....

* Ex-mayor of Chicago suburb pleads guilty in bribery scheme
* University of Illinois board chairman re-elected to 2nd term
* Grants will help students pay for trip to Lincoln museum
* Court in Chicago to hear arguments on sanctuary cities
* 30-year sentence for man in sexual assault of elderly woman
* Champaign man pleads guilty in '85 murder case
* Champaign man pleads guilty in '85 murder case
* 80-year-old accused of bank robbery has decades-old record
* Officer's lawyers plan change of venue poll in McDonald case
* Illinois man pleads guilty in 1985 death of 15-year-old girl

* U of I trustees approve 4th-straight tuition freeze
* Rauner to air extended ad of Pritzker, Blagojevich on wiretap
* Mendoza to keynote Women's March Saturday in Springfield
* Chicago mayor vows to step up Amazon second headquarters bid
* Under the Dome Podcast: More Blago-Pritzker talk, Rauner confirms Duke is racist
* U of I withdrew 35 job offers after background checks
* Frerichs: Can't get tax break for using college savings plan on private K-12 tuition
* Illinois governor to air extended ad of rival, Blagojevich on wiretap
* Chicago a finalist for Amazon's second headquarters
* 2 Illinois governor candidates spend $26M in last 3 months

* Discover topping credit-card rivals in growth—and bad loans
* What should a corporation value above all else?
* United to offer upgraded economy section on some global flights
* What Chicago is up against in Amazon HQ2 race
* Emanuel, Rauner clash in wake of Amazon news

* 2-Minute Drill: Joel Embiid’s dating game, let Zach LaVine go, what bong?
* ‘The Final Year’: Camera rolls as Obama team shows how the diplomacy is made
* 2018 Hyundai Accent gets rework — is reborn
* Once ‘pro-choice,’ Trump now steps to forefront of anti-abortion movement
* California prosecutors say couple’s abuse of 12 shackled kids became torture
* Suspects in carjacked Mustang lead cops on nearly hour-long chase around Chicago
* 18-year-old woman shot in Englewood
* Police: Burglars stealing electronics from Roseland, West Pullman homes
* Drone rescue off Australian beach heralded as world-first
* Dear Abby: Does former farm kid have to be lonely?

* 'Don't think they won't shoot': Man speaks after being fired at during attempted Oak Park carjacking
* New Zealand prime minister to take six-week maternity leave: 'I am not the first woman to multitask'
* Morning Spin: Pritzker, Kennedy, Biss to square off in livestream with Tribune editorial board today
* Future of pill-induced abortion: Women can already receive pills by mail in 4 states, what's next?
* Illinois clinic provides abortions via telemedicine, a method prohibited in 19 states
* The feminist war on common sense
* College student worries about abuse allegation
* Five-bedroom home near green space: $1.5M
* Police chase stolen Mustang from the Gold Coast to the South Side

» Sheriff Offers To Help Review Police Shootings In Suburban Cook County
» A Prescription For Fruits And Veggies: One Solution To Food Insecurity in Illinois
» A Call For Transparency
» 2 Illinois Governor Candidates Spend $26M In Last 3 Months
» State Board of Education: Double School Funding Now
» Lawmakers Demand Fast Internet For Rural Schools
» 2 Dreamers Discuss Helping Other Immigrants Amid Uncertainty
» Rauner Spokesman: 'Governor Believes David Duke Is A Racist'
» Rauner Signs Law To Help Women Behind Bars
» A Poor Neighborhood In Chicago Looks To Cuba To Fight Infant Mortality

* Point: Trump's stance gives hope to an Iranian majority that longs for freedom
* Counterpoint: Trump's assertive policies rally Iranian support for the Ayatollahs
* Thumbs Up: To investing in infrastructure
* Eugene Robinson: An administration with no credibility cannot lead
* U of I trustees approve 4th-straight tuition freeze
* Rauner to air extended ad of Pritzker, Blagojevich on wiretap
* Mendoza to keynote Women's March Saturday in Springfield
* Chicago mayor vows to step up Amazon second headquarters bid
* Under the Dome Podcast: More Blago-Pritzker talk, Rauner confirms Duke is racist
* U of I withdrew 35 job offers after background checks

* These 2 new devices are helping St. Elizabeth’s make strides in heart care
* Hospice of Southern Illinois needs volunteers
* Downtown Belleville’s popcorn shop wants you to pick its next flavor
* Def Leppard, Journey to rock Busch Stadium
* Selzer named cancer center development director
* End of HIV needs community support
* Area Calendar 1/19/18
* Daily Digest 1/19/18
* Police reports
* Fire calls

* Feder: Cumulus opts out of White Sox, Bulls, 101 WKQX, The Loop
* Digger the dog still missing, but lawsuit over escape settled
* Dawn Patrol: Rauner promises property tax fix
* Why these suburban women are still energized by Women's March
* Glen Ellyn to study new Metra train station, pedestrian tunnel

* Sen Dick Durbin: President Trump used 'hat...
* Hultgren makes strong mark on nation's new...
* Dissident artist Ai Weiwei and US Rep. Ran...
* Subcommittee on Financial Institutions and...
* Lawmakers back renaming Warrenville post o...
* Teacher raised in Yorkville running agains...
* Tioga State Bank president and CEO address...
* Suburban Democrats line up to challenge Ro...
* Kane County assessor: No guarantee your ta...
* Hultgren joins fellow lawmakers fighting t...

* This RSS feed URL is deprecated...

* This RSS feed URL is deprecated...

* Guitarist Randy Randall on how No Age have adapted to family time—and what their odd new album title means
* This Week on Filmstruck: Anna Magnani
* Chicago makes 1st cut, but does that mean one makes the team
* Swedish trumpeter Goran Kajfes combines psych, prog, and African music into a vision all his own
* Anita Alvarez’s campaign consultants gave her talking points before she announced charges against Jason Van Dyke, and other Chicago news
* Gov rejects handing more powers over to McHenry County Bd Chairman
* Rauner calls for bill to ban Madigan from appealing property taxes
* New IR Poll: Who will win Illinois' 2018 Democrat Party gubernatorial primary?
* Thorner: Chicago celebrates life in single digit temps
* Illinois Review poll draws attention as Ives supporters outnumber Rauner's

* Illinois Awarded Funds to Offer Advanced Training on Detecting Impaired Driving
* Illinois EPA Announces Upcoming Household Hazardous Waste Collection Events
* IEMA Highlights Emergency Preparedness for People with Access and Functional Needs in May - Ready Illinois website offers preparedness tips for people, caregivers
* First Lady Launches Illinois Family Connects
* Governor and Lt. Governor Unveil 2016 Journal of Local Government Shared Service Best Practices

* Both Apple and Samsung targeted by Italian antitrust probe into planned obsolescence
* T-Mobile and MetroPCS destroy the competition in J.D. Power satisfaction ratings
* South Korea, Italy also calling out Apple for slowing iPhones
* Investigations into Apple's iPhone Battery Slowdowns Spread to Italy and South Korea
* No G7 at MWC, but ‘upgraded’ LG V30 with improved AI features could be on display
* Affordable LG X4+ goes official with rugged design, Hi-Fi DAC, LG Pay support
* Why do Sony Xperia phones still exist? “The next paradigm shift.”

* Inbox: Who replaces Rodon in the rotation?
* 2018 South Side Sox Hall of Fame Ballot
* With maturity comes lofty expectations for Eloy
* Collins ranked MLB's No. 9 catching prospect
* With maturity comes lofty expectations for Eloy
* Pirates rebuild not met with enthusiasm
* Moncada guiding Robert during mini-camp

Main Menu
Pundit rankings
Subscriber Content
Blagojevich Trial
Updated Posts

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