* Stay tuned for details.
…Adding… I’m told his polling showed he either couldn’t win or that it would be extremely difficult to win…
…Adding… Huge pushback on that above insider leak by a much higher-level insider. They finally got him to a place where he could win and he decided not to pull the trigger is what I’m hearing now. He just figures he has nothing left to prove…
…Adding… Talked to another top dog and got the same thing. He was just done. Time to move on…
…Adding… Former Emanuel top dog…
…Adding… Fran Spielman last week…
On Sept. 7, 2010, Richard M. Daley touched off the political equivalent of a Chicago earthquake.
After breaking his father’s longevity record, Daley chose political retirement over the quest for a seventh term. That touched off a game of political dominoes that saw Rahm Emanuel succeed his political mentor and Daley’s brother, Bill, replace Emanuel as White House chief of staff.
Nearly eight years later, Emanuel is approaching that point of no return himself.
He needs to decide whether to walk away or make the uphill climb toward a third term — and stick to that decision, no matter how difficult the campaign gets.
If Emanuel waits much longer, he will risk looking like his political future is being dictated by the outcome of the trial of Chicago police Officer Jason Van Dyke, who is charged with the murder of Laquan McDonald.
The trial, scheduled to start next week, is certain to dredge up ugly memories of Emanuel’s decision to withhold the McDonald shooting video until after the 2015 election and release it only after a judge ordered the city to do so.
“I would make the decision before the trial starts. If the cop is acquitted or there’s a mistrial and he then decides not to run, he looks like he’s responding to something,” one political operative said.
“It’s an easier decision to run than walk away. But he needs to remember that third terms are a bitch to win and even harder to govern. Even if he wins, everyone will know it’s his last term. Whatever fealty or fear people have now will be gone. It’ll be a miserable four years.”
*** UPDATE *** Emanuel’s prepared remarks…
On my first day as Mayor of this great city, I promised to make tough choices and face the hard truths we had not confronted, even when it hurts. Every day for the past seven and a half years, that is what I have tried my best to do – to improve our schools, make our community colleges relevant, put our fiscal house on stable footing, confront violence and rebuild trust between police and community, modernize our transportation systems, invest in our neighborhood parks and libraries and grow our economy into an engine of jobs and opportunity for all. I’m not shy, and together we’ve never shied away from a challenge.
Today, the time has come to make another tough choice. As much as I love this job and will always love this city and its residents, I have decided not to seek re-election.
This has been the job of a lifetime, but it is not a job for a lifetime. You hire us to get things done – and pass the torch when we’ve done our best to do what you hired us to do.
I have approached public service the only way I know how for the last 23 years—giving 100 percent, 24 hours a day, seven days a week—for President Clinton, in Congress and in its leadership, as President Obama’s Chief of Staff and finally as your Mayor. For the last seven and a half years I’ve given my all every day and left everything on the field. This commitment has required significant sacrifice all around. Now, with our three kids in college, Amy and I have decided it is time for us to write a new chapter together.
In a few moments, I’ll speak to my Cabinet, and tell them to get ready to sprint for the finish line in May. We have more to do, and from now until then, we’ll do everything in our power to get it done and walk out the door hopefully leaving Chicago and Chicagoans in a stronger place. We will stand ready and eager to work with whoever is lucky enough to come next and ensure a smooth and positive transition. We owe our city nothing less.
But today I want to thank the people of Chicago for the opportunity to serve. It will fill my eyes with tears to leave a job I love, and already my heart is full with gratitude. We have worked together. We have celebrated progress together. We have grieved together. Amy and I made friendships across this city that will last a lifetime.
I want to thank Amy for being such a remarkable First Lady. We’ve been together for 27 years. When we got married, I told her I would never run for office. Six elections later, she’s the only reason I have made it this far.
We’re blessed with three great children, and I owe them so much as well. Politicians always say they’re leaving office to spend more time with their family. My kids were smart enough to see that coming and scattered to the two coasts, so as of the other day we are now empty nesters.
Amy and I are still young – and Amy still looks it. And we look forward to writing that next chapter in our journey together.
I’ll always be here for the future of this city – not as mayor, but in the most important role anyone can play, as citizen. I hope I’ll find ways to answer the call I’ve asked of every citizen: to do my part to stand up for the next generation, who deserve the doors of opportunity to be open and the spark of hope to light their eyes.
I’m grateful to my parents for lighting that spark in me. And I want to thank my grandfather, who at the age of 13, took an enormous chance a century ago by immigrating here from Eastern Europe, fleeing the pogroms, to meet a third cousin he did not know in a city whose name he could not pronounce.
In four congressional runs on the North and Northwest Sides – and in two races for Mayor – you cast aside old history and voted for a Jewish kid with the middle name Israel. I will always be profoundly grateful for that and what it means to my family.
This morning, as we start a new school year, I went to Bronzeville Classical to welcome students back for the start of a new school year and to Perez Elementary to mark the opening of universal full day pre-K in Chicago. The changes we have made to our school system – universal full day pre-K, universal kindergarten and a longer school day and year will add up to nearly four more years of class time for Chicago’s students. In the end of the day what matters most in public life is four more years for our children, not four more years for me.
Together, since May of 2011, through thick and thin, we tried to do right by our city’s future. No matter how difficult the path we never wavered or shrunk from our responsibilities. And I will never forget the honor it has been to serve alongside you the people of Chicago every step of the way.
From the bottom of my heart: Thank you. God bless you. And God bless the people of Chicago.
…Adding… Sen. Durbin…
Rahm’s record of public service spans Congress, the White House, and the fifth floor of City Hall in Chicago. I have worked closely with him at every level of his public career. I always knew a call from Rahm was an invitation to join him in a bold, ambitious effort to make life better for those he served. It has been my honor to join him in these great ventures. Rahm has left his mark and I wish him and Amy the best in the days ahead.
…Adding… Speaker Madigan…
“I want to thank Rahm Emanuel for his service to our city as a member of Congress, as chief of staff to President Obama, and most notably as our mayor.
“Mayor Emanuel offered steady leadership through difficult times. His efforts to balance the budget, stabilize pensions, and make tough decisions consistently reflected his commitment to do what was best for the future of our city, not what was easy. As Chicago continues to move forward and grow as an international city, we will remain grateful for Mayor Emanuel’s leadership.”
…Adding… The Sun-Times is compiling more react. Click here.
…Adding… Comptroller Mendoza…
Mayor Emanuel and I had some lively arguments when I first took office as City Clerk. But we respected each other’s work ethic and were united by our mutual love for the City and the people of Chicago. He made tough choices that needed to be made and I admire his conviction and force of will that drove him to see many projects through for the good of Chicago. Knowing that there’s still so much more work to do and so many critical challenges that would require a 100% focus, his decision to not seek re-election means that Mayor Emanuel is putting the City before himself. I admire him for that. As Rahm said, “It has been the job of a lifetime, but it is not a job for a lifetime.” I thank Rahm for his dedicated service to Chicago as its mayor and I hope we find a worthy successor.
* JB Pritzker…
“Mayor Emanuel has dedicated his life to public service and I want to thank him for his commitment to Chicago and to the nation. I also want to express my gratitude for his work expanding universal Pre-K, a priority that is personally important to me. Every elected official makes personal sacrifice to do this work and Mayor Emanuel honored the legacy of his family with his service to our city and our state. Illinois faces real challenges, and should I be elected governor, I look forward to working with the mayor in his final months in office and with new leadership to move our state forward.”
* And with Rahm out, I would expect several Latinx candidates to express interest…
…Adding… PQ is taking a pass…
…Adding… Paul Vallas…
“I have not been running against Rahm Emanuel but rather to offer fresh and realistic ideas for the future of Chicago. From the outset of my campaign in April, I have been detailing with great specificity how I will address the unprecedented and complex problems facing Chicago. And I will continue to do so on issues including rebuilding Chicago’s forgotten communities on the South and West Sides, making Chicago safer for all its citizens and repairing the City’s tattered finances. As the only candidate with a successful track record of running multi-billion government agencies, I am the only candidate in this race who will be ready from day one to get Chicago on a new and more successful path.”
…Adding… Senate Republican Leader Bill Brady…
“I want to thank Mayor Rahm Emanuel for his service to the residents of Chicago, and for his decades of public service as a whole,” said Senate Republican Leader Bill Brady (R-Bloomington). “I wish him nothing but the best as he begins the next chapter in what’s already been an amazing journey.”
…Adding… Senate President John Cullerton…
“Rahm Emanuel has been a tireless advocate for the City of Chicago. His commitment to education will be felt for generations to come, as will his positive influence on our great city. I’m honored to have worked with him and proud to call him my friend. I wish him and his family the best in their next adventures.”
- wordslinger - Tuesday, Sep 4, 18 @ 10:50 am:
He’s either pulled off the biggest head-fake of all time, or something big is about to hit.
- Oswego Willy - Tuesday, Sep 4, 18 @ 10:52 am:
The question is, should I be surprised, or should I be surprised Rahm understands.
That’s the tough think here.
- Ravenswood Right Winger - Tuesday, Sep 4, 18 @ 10:53 am:
Good riddance. Now progressive hero/Gubernatorial failure/lousy Alderman Ameya Pawar can run.
- Real - Tuesday, Sep 4, 18 @ 10:53 am:
Rauner should be next to make this announcement. Good on Rahm for doing the best he has done since being elected with not seeking re-election.
- JoanP - Tuesday, Sep 4, 18 @ 10:54 am:
Whoa. I didn’t see that one coming.
- Precinct Captain - Tuesday, Sep 4, 18 @ 10:54 am:
Good riddance
- Ron Burgundy - Tuesday, Sep 4, 18 @ 10:54 am:
Of two minds about this. Yeah, Rahm’s not great, but the alternatives so far? Woof.
- Texas Red - Tuesday, Sep 4, 18 @ 10:56 am:
What will Quinn do without him ?
- Cyprian - Tuesday, Sep 4, 18 @ 10:57 am:
So, does Pat Quinn get in the race now?
- City Zen - Tuesday, Sep 4, 18 @ 10:57 am:
Term limited.
- Arsenal - Tuesday, Sep 4, 18 @ 10:58 am:
==but the alternatives so far? Woof.==
Someone else will get in. Maybe many Someones. He had way too much money and organization.
- Honeybadger - Tuesday, Sep 4, 18 @ 10:58 am:
Come back Chuy or Luis Gutierrez?
- Ron Burgundy - Tuesday, Sep 4, 18 @ 10:58 am:
–So, does Pat Quinn get in the race now?–
Term limit petitions? What term limit petitions?
- LC Illini - Tuesday, Sep 4, 18 @ 10:59 am:
Mayor Lisa Madigan?
- Lester Holt’s Mustache - Tuesday, Sep 4, 18 @ 11:01 am:
Scandalous headlines coming soon? Has to be something like that, I thought Rich provided a poll recently showing a clear lead over the other candidates. Can’t see him leaving to take control of the DNC or other organization.
- Logan - Tuesday, Sep 4, 18 @ 11:01 am:
“He’s either pulled off the biggest head-fake of all time, or something big is about to hit.”
Maybe McCarthy actually had something substantial on him?
- TinyDancer(FKASue) - Tuesday, Sep 4, 18 @ 11:03 am:
But he’s done such a great job…..
First move out of the box: reduce hours at local libraries and fire all these extra librarians
Next, close 50 schools
After that, close neighborhood mental health clinics
Fire/force into early retirement experienced teachers, (especially special ed) social workers, nurses
Cut school art and music programs
What could possibly go wrong?
- Arthur Andersen - Tuesday, Sep 4, 18 @ 11:03 am:
There goes the pension bond deal.
- wordslinger - Tuesday, Sep 4, 18 @ 11:07 am:
–I’m told his polling showed he either couldn’t win or that it would be extremely difficult to win…–
Very curious about this. Who did these polls show would be tough to beat in a runoff? (I’m assuming Emanuel would make a runoff solely on name recognition and strength-of-field to date).
Stay tune, is right, my spider sense says.
- Saluki - Tuesday, Sep 4, 18 @ 11:08 am:
All hail the mighty Quinn.
- Texas Red - Tuesday, Sep 4, 18 @ 11:10 am:
Maybe he is moving to Tennessee to avoid Illinois high taxes !
- @misterjayem - Tuesday, Sep 4, 18 @ 11:11 am:
What’s the over/under on when Amazon announces that its HQ2 is going to the D.C. area?
– MrJM
- Occam - Tuesday, Sep 4, 18 @ 11:11 am:
If Amazon hadn’t already taken Chicago off their list for HQ2, it is now.
- Daniel Day - Tuesday, Sep 4, 18 @ 11:12 am:
The SEIU public policy poll showed Vallas was the only candidate that beats Emanuel in a head to head
- Change - Tuesday, Sep 4, 18 @ 11:12 am:
I have to believe that Lisa Madigan would be an early favorite to run for Mayor of Chicago.
- wordslinger - Tuesday, Sep 4, 18 @ 11:13 am:
From the updates, it appears the Spin Doctor’s spin doctors haven’t gotten on the same page yet.
That’s unusual for them. Indicates perhaps that this was abrupt and a surprise to the insiders.
- dbk - Tuesday, Sep 4, 18 @ 11:13 am:
I can’t even imagine what’s going on at the campaign HQ of the declared (and undeclared?) x-no. of candidates. Is 12 accurate as of today?
I doubt we’ll learn today what the motivation for his decision was - the trial (?), the general ugliness of a third campaign/third tenure, other (?).
I vote for “other,” but given how surprised I was when I checked my Twitter feed (while watching Durbin’s opening remarks at the Judiciary Committee hearing for Brett Kavanaugh), I guess I’m prepared to be surprised again, and again, and again.
Illinois politics is pretty exciting.
- Montrose - Tuesday, Sep 4, 18 @ 11:14 am:
So, any guesses on how many new folks throw their hat in the ring by next week? Pat Quinn doesn’t count.
- @misterjayem - Tuesday, Sep 4, 18 @ 11:15 am:
“He just figures he has nothing left to prove…”
If that’s true, Rahm is actually much worse than I’d believed.
– MrJM
- Oswego Willy - Tuesday, Sep 4, 18 @ 11:17 am:
===Indicates perhaps that this was abrupt and a surprise to the insiders.===
I believe 100% that Rahm took his kid to college, left to come home, looked at his wife and said… “What am I doing? It’s time to walk. We’re empty nesters. Time to walk away.”
- BucknIrish - Tuesday, Sep 4, 18 @ 11:19 am:
Heard from people his numbers showed him winning a runoff against everyone, but that getting out of the first round would have been the battle.
I like Rahm, I didn’t agree with everything he did but you always hear that politicians take the easy way out, and I don’t think you can say that about him (besides McDoanld video). Chicago is on a steadier financial footing than it has been in a while.
- Lucky Pierre - Tuesday, Sep 4, 18 @ 11:20 am:
Mike Madigan
His efforts to balance the budget, stabilize pensions, and make tough decisions consistently reflected his commitment to do what was best for the future of our city, not what was easy.
Unlike your time in office Mr Speaker where you hav, even in good times, presided over decades of unbalanced budgets, ignored the pension crisis for the past 3 1/2 years, and avoided tough decisions that would affect your campaign contributors but benefit the state.
- Downstate - Tuesday, Sep 4, 18 @ 11:20 am:
Mayor Roland Burris?
- 47th Ward - Tuesday, Sep 4, 18 @ 11:21 am:
The Jason Van Dyke trial starts today. If it was me, I’d drop out BEFORE that trial. If he waited until after, it becomes cause-effect. This way he gets his spin.
Huge bombshell. The phones are burning up around Chicagoland. I suspect there are a lot of corporate types who are scared to death of the current field. There will be a lot of trial balloons floating over Chicago. I hope the Air Traffic Controllers can keep them away from O’Hare and Midway.
- KQ - Tuesday, Sep 4, 18 @ 11:21 am:
Rahm can’t sit around and do nothing. He is not that type of person. Gotta be something more. Something bigger. Maybe help get oompa-loompa out of 1600.
- So_Ill - Tuesday, Sep 4, 18 @ 11:22 am:
Chance the Mayor??
- lake county democrat - Tuesday, Sep 4, 18 @ 11:22 am:
Surprised, but it makes sense. First, he might not win a run-off. Second, what if he does win? The voters are demanding things that require big increases in spending. The current bills can’t be kicked down the road much longer. Even if Pritzker wins, the state won’t be able to help out to nearly the extent Chicago needs it to. The next four years aren’t going to be fun.
- Person 8 - Tuesday, Sep 4, 18 @ 11:22 am:
“If Amazon hadn’t already taken Chicago off their list for HQ2, it is now.”
Welcome to the newest mayor of Chicago, Amazon!
- Michael Westen - Tuesday, Sep 4, 18 @ 11:23 am:
First leaker was right. He is/was unelectable.
- Oswego Willy - Tuesday, Sep 4, 18 @ 11:23 am:
Someone needs to do a well-being check on John Kass…
- Regular democrat - Tuesday, Sep 4, 18 @ 11:23 am:
You scoffed at me months ago when i predicted he wouldnt run. I hate to say i told you so but….
- Fav Human - Tuesday, Sep 4, 18 @ 11:24 am:
This is going to be more interesting than when CA impeached their governor and half the state ran for the open slot.
- Stuntman Bob's Brother - Tuesday, Sep 4, 18 @ 11:24 am:
I believe Word’s correct, there’s another shoe in the closet waiting to drop.
I also always thought Rahm had bigger political aspirations than being Mayor of Chicago, that this was just a stepping stone for him. But he just wasn’t well enough liked, and history won’t be very kind to him. Could anyone do a decent job in the largest city in the fastest declining state? Exciting times ahead, 1983 showed us that anything’s possible. Another Harold Washington may be just what Chicago needs right now.
- Anon - Tuesday, Sep 4, 18 @ 11:34 am:
-What’s the over/under on when Amazon announces that its HQ2 is going to the D.C. area?-
Bingo.
- BothSidesOfHisMouth - Tuesday, Sep 4, 18 @ 11:36 am:
Suzanna Mendoza, please.
- Chunga - Tuesday, Sep 4, 18 @ 11:38 am:
Is he moving to Italy with 1.4 to be part of the wine club again?
- Oswego Willy - Tuesday, Sep 4, 18 @ 11:39 am:
If it is/was Amazon…
If it is/was the polling…
The decision… for me… and reading…
… the man took his youngest kid to college, realized being an empty nester mayor, and facing a nasty race to BE that empty nester mayor… maybe he thought… “what’s the point?”
Almost feels… almost… like Speaker Boehner walking.
When you’re done… you’re done. Walking away.
- phocion - Tuesday, Sep 4, 18 @ 11:40 am:
What happens to his $10 million re-election war chest?
- LevivotedforJudy - Tuesday, Sep 4, 18 @ 11:43 am:
Maybe he did just get tired of the job. He had to do a lot of things that were unpopular but needed to be done. I remember Governor Thompson once said that if you stay in office too long, eventually, you will have done something that everyone didn’t like. Maybe the remaining candidates will actually say what they would do as mayor, because they won’t be able to stick the pitchfork in Emanuel if he isn’t running. They still might if they have nothing else to say.
- Fax Machine - Tuesday, Sep 4, 18 @ 11:44 am:
Pat Quinn will probably take credit because they just announced on Friday that his term limit petitions had enough signatures.
Preckwinkle would be the big dog if she ran. But she might prefer to back her former chief of staff Kurt Summers.
- wordslinger - Tuesday, Sep 4, 18 @ 11:46 am:
–The next four years aren’t going to be fun.–
When was the gig ever “fun?” Name a four-year-period and I’ll show you some nightmares.
But the Greater Loop continues to expand outward-and-upward, more poor and older people are moving out and more wealthy and younger people are moving in.
Those have been the City Hall metrics of success since Daley II.
- Just Observing - Tuesday, Sep 4, 18 @ 11:48 am:
=== What happens to his $10 million re-election war chest? ===
1. It could be donated to charity.
2. Returned to donors.
3. Used for political purposes (e.g. supporting other candidates).
4. A combination of the above.
- Responsa - Tuesday, Sep 4, 18 @ 11:52 am:
==I have to believe that Lisa Madigan would be an early favorite to run for Mayor of Chicago.==
I think no. Wouldn’t she still be burdened with the same, or worse, perception problem with respect to her father and consolidation of power? Plus, she’s smart. Why would she want this monstrous headache of a job?
- John-on-the-spot - Tuesday, Sep 4, 18 @ 11:53 am:
He can rent his house back to his old tenant when he moves to San Francisco
http://nymag.com/daily/intelligencer/2010/11/rahm_emanuel_has_the_worst_ten.html
- Almost the weekend - Tuesday, Sep 4, 18 @ 11:53 am:
Well for everyone in downstate who despises Chicago time to grab your popcorn for the next several months. This is going to be absolutely nuts.
I hope Lisa Madigan runs she is the only potential candidate I think who can manage the city and the projects that Rahm has initiated over his tenure. And to help move the city forward.
- 47th Ward - Tuesday, Sep 4, 18 @ 11:54 am:
Willie Wilson says he’s not surprised. Lol.
- @misterjayem - Tuesday, Sep 4, 18 @ 11:55 am:
=== What happens to his $10 million re-election war chest? ===
1. It could be donated to charity.
2. Returned to donors.
3. Used for political purposes (e.g. supporting other candidates).
4. A combination of the above.
From 2013: “Former Mayor Richard M. Daley made an unusual and unusually generous gesture on Wednesday, donating more than half a million dollars from his former campaign fund to various Chicago charities and other organizations. CBS 2 Chief Correspondent Jay Levine reports it was a remarkable move by Daley, especially when you consider he could have kept all the money in his campaign fund, paid taxes on it, and walked away with a pretty penny.” https://chicago.cbslocal.com/2013/04/24/daley-gives-away-last-of-his-campaign-cash-to-charity/
Have the campaign finance rules changed in the last five years, or could Rahm still surprise us all by taking the tax-hit and pocketing a small fortune?
– MrJM
- Responsa - Tuesday, Sep 4, 18 @ 11:57 am:
Mayor of Chicago might have been a much better and prestigious fit for Pritzker. Bet he is wishing now he had waited to make his big entrance into politics.
- Leigh John-Ella - Tuesday, Sep 4, 18 @ 12:03 pm:
I believe state law says he can convert for personal use the amount he had in a campaign account as of June 30, 1998.
I can’t find that he had a campaign account on June 30, 1998.
- SURSorBust - Tuesday, Sep 4, 18 @ 12:03 pm:
Maybe the Rauners found a nice two-flat in Italy.
- @misterjayem - Tuesday, Sep 4, 18 @ 12:04 pm:
“I believe state law says he can convert for personal use the amount he had in a campaign account as of June 30, 1998.”
That makes sense.
Thank you.
– MrJM
- Matts - Tuesday, Sep 4, 18 @ 12:05 pm:
I give credit to Rahm for running and being elected for a tough, tough big city. Could have just made tons of money (which he will now), but took on a real challenge. Didn’t do very well, but thats beside my point. Years ago Jesse Jackson was pushed to run for mayor of Washington D.C…….nope, too much work.
All mouth.
- JP Altgeld - Tuesday, Sep 4, 18 @ 12:06 pm:
I think somewhere in our fair city, Bridget Gainer just threw her cell phone at a wall.
- Grand Avenue - Tuesday, Sep 4, 18 @ 12:08 pm:
The rules changed in terms of pocketing campaign money in 2000, so any balance you had before that is “grandfathered”
All of Rahm’s fundraising is post-2000, so he can’t keep any.
Something retired politicians with big balances will often do is use it as a lobbying fund - they will get hired as lobbyists and use their campaign balance to make contributions to the elected officials they are lobbying.
In Rahm’s case, he’ll probably start a Rahm Emanuel Foundation with it
- Chicago Cynic - Tuesday, Sep 4, 18 @ 12:09 pm:
My money is on evidence of the McDonald tape Coverup emerging at the trial. He knew it was coming and he got out, as 47 points out, before the trial.
- Ravenswood Right Winger - Tuesday, Sep 4, 18 @ 12:10 pm:
JP Altgeld, thanks for the visual!!!
- Rich Miller - Tuesday, Sep 4, 18 @ 12:13 pm:
===Bridget Gainer just threw her cell phone at a wall===
And Chuy…
- Oswego Willy - Tuesday, Sep 4, 18 @ 12:16 pm:
Thinking about Chuy agreeing (or wanting) to go to DC… then this… yikes.
It’s almost like losing again, I imagine.
- Grand Avenue - Tuesday, Sep 4, 18 @ 12:16 pm:
I think Chuy’s alright - Congressman ain’t Mayor but it’s not a bad consolation prize.
What PQ wants is the “Consumer Advocate” position that he’s trying to create by referendum along with his term limit drive.
- City Zen - Tuesday, Sep 4, 18 @ 12:18 pm:
Rahm wanted to devote more time to the elected school board at CPS. Oh wait…
- Rod - Tuesday, Sep 4, 18 @ 12:21 pm:
A wise move by the Mayor getting out now. Last week the Mayor’s team began to publicly float the idea of attempting to float a $10 billion of pension obligation bonds to help pay down a $28 billion gap. The reception from municipal financial experts was overwhelmingly negative because Pension obligation bonds, or POBs, have been connected with high-profile municipal defaults in California’s San Bernadino and Stockton, as well as Detroit. At the state level, issuers of POBs including New Jersey and Connecticut, and the territory of Puerto Rico, have seen a decline in their pension funding ratios and suffered downgrades to their credit rating as a result.
The fact they only a week ago were exploring of such a deal speaks to the city’s dire financial straits. Chicago’s general obligation bond ratings are in the tank. Without this new debt issuance property taxes and fees would have to rise even faster than they currently are. The Mayor has no interest in wearing that radically increased tax jacket on top of the rampant gun violence jacket he already has on. Good luck to whoever comes next and those of us with high value property in the City.
- Grand Avenue - Tuesday, Sep 4, 18 @ 12:22 pm:
@City Zen
You would have to think that every candidate is going to come out in favor of an elected school board, right? JB Pritzker says he supports it, so without Rahm or Rauner blocking it, we might actually get it passed.
- Angry Republican - Tuesday, Sep 4, 18 @ 12:29 pm:
When Richard M Daley announced his retirement that was the first indicator it was time to think about leaving Chicago. Now that Rahm has called it quits after 8 years of highlighting the city’s poor financial condition, it’s definitely time to jump ship before it sinks.
The next mayor has no idea what they are in for, and will regret being elected.
- From the 'Dale to HP - Tuesday, Sep 4, 18 @ 12:29 pm:
====And Chuy…====
He’s going to DC, I think things worked out fine for him.
- Colin O'Scopy - Tuesday, Sep 4, 18 @ 12:29 pm:
“Paging Ms. Jarrett, Ms Valerie Jarrett. You have a Mr. Opportunity waiting for you on the courtesy phone…”
- DuPage Bard - Tuesday, Sep 4, 18 @ 12:29 pm:
Is Durbin running for reelection in 2020?
- City Zen - Tuesday, Sep 4, 18 @ 12:34 pm:
==You would have to think that every candidate is going to come out in favor of an elected school board, right?==
I think Paul Vallas wants a mix of elected and appointed and is against districts (meaning candidates run city-wide). Either way, it’s an improvement over the current setup.
- City Zen - Tuesday, Sep 4, 18 @ 12:38 pm:
==“Paging Ms. Jarrett, Ms Valerie Jarrett…==
Can she be mayor and collect her CTA pension?
- 60611 - Tuesday, Sep 4, 18 @ 12:40 pm:
Was called for a very lengthy poll about a month ago that was clearly from Rahm’s campaign. Tested him against about 4 other names and tested messages as well. I’d be surprised if he was the first choice in a multi-candidate field of more than 35% and in run-off head-to-heads, maybe he could get to 50% against some in a summertime poll, but I think the reality of it was that it would be hard for an incumbent to go from 35% in the first round to 50.1% in a runoff.
And now we await word from Dart, L. Madigan, Preckwinkle, Pawar, Gainer (could reconsider), Summers.
- Anonymous - Tuesday, Sep 4, 18 @ 12:45 pm:
Occam’s Razor. Avoid complicated theories, always go for the simplest explanation. He’s just tired of getting beat up every day for stuff that other people do. He’s done enough for a solid legacy, and now he can step back. The really interesting discussion now should be who gets his nod, and the backing of his campaign fund and the Chicago business community. My bet today is Kurt Summers.
- Joe Biden Was Here - Tuesday, Sep 4, 18 @ 12:45 pm:
As my grandfather used to say (in Swedish) good riddance to bad rubbish..
- wordslinger - Tuesday, Sep 4, 18 @ 12:59 pm:
Washington ran and won for mayor in Spring 1983 after winning reelection to Congress in Fall 1982.
Garcia is a shoo-in for Congress this November. Who’s going to tell him he can’t run for mayor next year?
- El Paso - Tuesday, Sep 4, 18 @ 1:03 pm:
sinking ship
- RoscoeRatMatt - Tuesday, Sep 4, 18 @ 1:05 pm:
Best political news I’ve heard all year. I despise this man like no other and remain convinced he covered up the McDonald murder for his own dying political expediency. Good riddance; and may the door strike him upon exit.
- Joe Bidenopolous - Tuesday, Sep 4, 18 @ 1:13 pm:
===Bridget Gainer just threw her cell phone at a wall===
I think given the new information, Bridget could pivot pretty easily if she wants to, plus her operation is pretty well lubed from the cycle as is. Tougher for Chuy considering where he’s going…
- SSL - Tuesday, Sep 4, 18 @ 1:13 pm:
It had be a very difficult decision for Rahm to get to this point. It speaks to the magnitude of the problems the city faces, and the solutions are going to be very unpopular. It is going to be a thankless job for decades, and he is increasingly unpopular even with his base. Choosing to cut and run makes sense, but his ego and arrogance have to make it extremely difficult. I don’t buy the theory that there was a big bombshell out there.
I never liked him, as he’s another shining example of the liberal elite. The would be replacements are a pretty weak lot. Will be interesting to watch.
- City Zen - Tuesday, Sep 4, 18 @ 1:14 pm:
==Who’s going to tell him he can’t run for mayor next year?==
Can he hear while wearing his district’s earmuffs?
- Oswego Willy - Tuesday, Sep 4, 18 @ 1:29 pm:
I let it sit. I figured someone would go here. No one did.
The biggest question for me?
Easy.
If Pritzker wins. Will Pritzker be a Kingmaker governor, picking sides and attempting to have “his” candidate as mayor…
… or will Pritzker covertly try to help here and there, but stay neutral, as not to have the “crony” label for anyone (maybe multiple candidates) Pritzker sees as favorable for his term.
Will a Democratic governor hold sway, finally, over a Democratic Chicago mayor?
That, to me, is the most interesting.
Will the Democratic Party dynamic change if Pritzker wins and chooses sides in this mayoral race?
- Anonymous - Tuesday, Sep 4, 18 @ 1:30 pm:
And a new golden age for local political consultants begins.
- Grand Avenue - Tuesday, Sep 4, 18 @ 1:39 pm:
Pritzker’s endorsement wouldn’t be dispositive unless it came with a massive contribution
- TinyDancer(FKASue) - Tuesday, Sep 4, 18 @ 1:39 pm:
He should pack up his dead fish and steak knife and move to D.C. where he could actually do some good.
- Oswego Willy - Tuesday, Sep 4, 18 @ 1:42 pm:
===Pritzker’s endorsement wouldn’t be dispositive unless it came with a massive contribution===
Yep.
And we’d see a Democratic governor holding sway to a Democratic Chicago mayor.
That would be a big change.
- Rod - Tuesday, Sep 4, 18 @ 1:43 pm:
To angry republican it is really too late to bail out of Chicago if you bought in prior to the 2008 crash, market values have really only gotten back up to those levels relatively recently. As unbelievable as it may seem the market values here in Andersonville on the north side are still rising even with the fiscal instability of the City and likely skyrocketing property taxes for the foreseeable future.
The buyers coming into this market have very deep pockets and want quick easy access to the loop. The south side is in deep trouble especially the middle class African American communities. Research shows that homes in majority black neighborhoods in Chicago do not appreciate as much as homes in overwhelmingly white neighborhoods. This appreciation gap begins whenever a neighborhood is more than 10% black, and it increases right along with the percentage of black homeowners. Inside Chicago, the typical black home is worth $145,000 while the typical white home is worth $275,000.
- Southern ILLinois - Tuesday, Sep 4, 18 @ 1:46 pm:
Rauner: “Thanks for your service. Good job not being indicted. Tomorrow no one will care.”
- Almost the weekend - Tuesday, Sep 4, 18 @ 1:51 pm:
If Pritzker gets involved in the mayoral race with all of Illinois’ problems and promises/ideas he’s promoting he will have no political capital to pass legislation let alone to pass a constitutional amendment for the graduated income tax. It’s a lose-lose for him. One-third to fifty percent of his voters in Chicago will be upset. Stay neutral.
- Oswego Willy - Tuesday, Sep 4, 18 @ 1:58 pm:
===If Pritzker gets involved in the mayoral race with all of Illinois’ problems and promises/ideas he’s promoting he will have no political capital to pass legislation let alone to pass a constitutional amendment for the graduated income tax.===
How so?
He’d have the Chicago mayor (if both Prizker and his candidate wins) who would owe him, giving Pritzker political cover needed for unpopular things.
- Ron Burgundy - Tuesday, Sep 4, 18 @ 1:59 pm:
–PQ is taking a pass…–
Can we get that in writing? Preferably notarized?
- DaleyMail - Tuesday, Sep 4, 18 @ 2:04 pm:
Gainer isn’t running. She’s originally from the 19th Ward. Ditto for Dart. Jerry Joyce will be the next Mayor of the City of Chicago if Emanuel and Obama don’t try and push Arne Duncan into office.
- Stuntman Bob's Brother - Tuesday, Sep 4, 18 @ 2:08 pm:
“Also, Paulie could do anything. Especially run up bills on the joint’s credit. And why not? Nobody’s gonna pay for it anyway. And as soon as the deliveries are made in the front door, you move the stuff out the back and sell it at a discount. You take a two hundred dollar case of booze and you sell it for a hundred. It doesn’t matter. It’s all profit. And then finally, when there’s nothing left, when you can’t borrow another buck from the bank or buy another case of booze, you bust the joint out. You light a match.”
Maybe a hundred years from now, they’ll blame this one on a cow kicking over a lantern as well.
- Angry Republican - Tuesday, Sep 4, 18 @ 2:08 pm:
Rod, I hear you; north side real estate is still subject to basic supply and demand. At the moment, the high demand masks all of the underlying fiscal problem so prices continue to rise. Eventually, property owners will find out they have to pay for the sins of previous generations.
NY City went through this in the 70’s, and recovered. Chicago will too, but the next mayor and probably the one after that and the one after that won’t get to enjoy it.
Bonus question: Governor Rauner or Mayor Rauner?
- crazybleedingheart - Tuesday, Sep 4, 18 @ 2:15 pm:
Something big is about to hit. Besides Amazon.
- Amalia - Tuesday, Sep 4, 18 @ 2:17 pm:
the trial was going to bring up brutal issues, but if he got Amazon, he could still win because it would be huge. my guess is that Amazon is not coming and he got word of that so what’s the point if you can’t find a reason to finance all those parks the northsiders want. also, nice to walk away from some very loud activists who know how to yell, but really don’t know how to solve problems.
- low level - Tuesday, Sep 4, 18 @ 2:28 pm:
Liberals and “independents” celebrating. Be careful what you wish for
- Arthur Andersen - Tuesday, Sep 4, 18 @ 2:31 pm:
I would agree that the pension bonds, and goofy Elon Musk’s magic tunnel to O’Hare, are probably dead.
Rod, the POBs have been under discussion since at least July when Michael Sacks broached the subject at a municipal finance seminar. I also wonder why POB naysayers like yourself never discuss the largest POB issuance to date, Illinois’ 2003 issuance which is generally considered to be a breakeven to a slight success halfway through the payment period.
Personally, I think Rahm bailed for either the empty nester consideration that OW clearly outlined above or because of something we don’t know yet.
- Stuntman Bob's Brother - Tuesday, Sep 4, 18 @ 2:40 pm:
When Pritzker loses this fall, he could always run for Mayor next year /s
Any chance the R’s will run a candidate? If so, who?
- Loop Lady - Tuesday, Sep 4, 18 @ 2:40 pm:
Agree with Daley Mail…that family is still in charge here…there is the business community first and foremost to appease…damn the citizens…
- City Zen - Tuesday, Sep 4, 18 @ 2:53 pm:
== Illinois’ 2003 issuance which is generally considered to be a breakeven to a slight success halfway through the payment period.==
That’s a pretty big gamble to make just to break even.
- Anonymous - Tuesday, Sep 4, 18 @ 3:33 pm:
“Eventually, property owners will find out they have to pay for the sins of previous generations.”
Shouldn’t that read “the sins of previous mayoral administrations”? The taxpayers did not waste money or choose to postpone pension payments, the pols did.
- BigLou - Tuesday, Sep 4, 18 @ 3:44 pm:
I’m sure Preckwinkle is trying tro figure out who she can put in the race so she can control everything. Not caring that her very liberal policies will most liekly mess up everything.
- Almost the weekend - Tuesday, Sep 4, 18 @ 3:47 pm:
OW
Respectfully, trade unions are scrambling right now for a candidate to back. Latino candidates are going to be joining the race by the day and there are already several African American candidates running. Is one candidate before the runoff going to be able to unite those three factions, let alone two of them? Trade unions and African Americans were a big part of Pritzker’s primary win. Then having to meet with the AFL-CIO, Latino or Black Caucus in Springfield when trying to pull strings behind the scenes for the mayoral race. It is a looming disaster waiting to happen. It’s a net negative for your political capital. Maybe join in the runoff if Mccarthy somehow squeaks in. Juice isn’t worth the squeeze.
- Anonymous - Tuesday, Sep 4, 18 @ 3:47 pm:
In its weekly review of municipal finance, Citi Research, a unit of CitiBank, said investors need to “look beyond the cheap seats” occupied by media and other critics of the proposed deal.
“We disagree with almost all of these negative opinions,” the report says. “Chicago has a serious pension problem that requires a dramatic, innovative solution. We believe there is a philosophical justification to pursue the POB mode of financing and maybe even a practical justification.”
http://www.chicagobusiness.com/greg-hinz-politics/city-hall-pension-borrowing-idea-wins-noteworthy-fan
Not everyone hates the POBs idea
- BucknIrish - Tuesday, Sep 4, 18 @ 3:51 pm:
==Shouldn’t that read “the sins of previous mayoral administrations”? The taxpayers did not waste money or choose to postpone pension payments, the pols did.==
When the people of this city voted for Mayor Daley 5 times, even with his blatantly obvious poor fiscal management, they take some of the blame.
- Oswego Willy - Tuesday, Sep 4, 18 @ 3:55 pm:
- Almost the weekend -
Appreciate that.
How many times will a Democratic governor get to have the Democratic Chicago mayor over a barrel?
Pritzker would need an “Old political hand” that could navigate so many things, tough to find any who would take that on for Pritzker.
Dems are tough to wrangle to begin with, but… I can’t think of anyone who would take it on… but to look at it… mighty nice prize.
- Rich Miller - Tuesday, Sep 4, 18 @ 3:56 pm:
What BucknIrish said. x100
- Angry Republican - Tuesday, Sep 4, 18 @ 4:12 pm:
Rich and BucknIrish, thanks for stating what should be obvious to most people, but sadly isn’t.
- Responsa - Tuesday, Sep 4, 18 @ 4:17 pm:
==When the people of this city voted for Mayor Daley 5 times, even with his blatantly obvious poor fiscal management, they take some of the blame.==
This is absolutely true. However that blame goes back an awful lot of years now and probably a lot of those voters are dead or living in retirement elsewhere. On the other hand a lot of younger working voters and especially recent arrivals to Chicago probably don’t feel a lot of personal responsibility for those bad decisions (and votes) of the Daley years and probably don’t think they should be on the hook for them.
- Comedy - Tuesday, Sep 4, 18 @ 4:26 pm:
“Gainer isn’t running. She’s originally from the 19th Ward. Ditto for Dart. Jerry Joyce will be the next Mayor of the City of Chicago if Emanuel and Obama don’t try and push Arne Duncan into office.”
This is total and complete insanity.
- Shevek - Tuesday, Sep 4, 18 @ 4:43 pm:
Lots of folks here saying that there has to be a reason he isn’t running (something about to break). But this idea of him backing out has been in the water for the last 6-8 months. Last time around was not a whole lot of fun for him. He got a serious smack, having to do a run-off. There is a whole lot of resentment in the City against him for doing a whole lot of good for rich white folks, and nothing for the rest of the population (much as had been the case for his predecessor). How can you blame him for just wanting to get out and have a life?
Now sit back and enjoy the show as a whole lot of nobodies (relatively speaking) fight for the prize.
- Speculating 🤔 - Tuesday, Sep 4, 18 @ 4:52 pm:
Mayor Anna Valencia?
- Amalia - Tuesday, Sep 4, 18 @ 4:56 pm:
another Joyce son is married to a daughter of Muhammad Ali. and Jerry Jr. is married to a pediatrician. interesting.
- VanillaMan - Tuesday, Sep 4, 18 @ 5:03 pm:
We know how this goes… wealthy connected Chicagoans find new mayor before voters choose, because no one with any status in Chicago wants another Jane Byrne or Harold Washington.
- InTheKnow - Tuesday, Sep 4, 18 @ 5:16 pm:
Rahm’s announcement today wasn’t hard to predict if: (1) you paid attention to very recent public comments from Rahm and his allies (Ax, O’Connor, etc) and (2) you believe, as I do, that Rahm wants to seek national office. Running for and losing a 3rd term would have killed his political future.
Mark my words: Rahm will run for President, VP or Durbin’s seat in 2020. Rich Miller, you laughed at me a few years ago when I suggested Rahm would one day take Durbin’s place. I’d be happy to place a bet.
- InTheKnow - Tuesday, Sep 4, 18 @ 5:20 pm:
In fact, I’ll predict the possibility of a Biden-Emanuel ticket in 2020. Makes all the sense in the world.
- Anonymous - Tuesday, Sep 4, 18 @ 5:32 pm:
He didn’t want go out like “Smoking Joe Berrios” who ignored the signs of dissatisfaction for ages. Laurino hung it up, his City Council floor leader O’Connor practically announced his own retirement, Ed Burke may struggle to win a final term.
Rahm needs to chill out and plot for another day.
- Stuntman Bob's Brother - Tuesday, Sep 4, 18 @ 5:37 pm:
I think it may be time to throw support behind Dorothy Brown, especially downstaters. She may not be the mayor Chicago needs, but she’s definitely the mayor Chicago deserves, LOL.
- Rod - Tuesday, Sep 4, 18 @ 5:48 pm:
To Arthur Andersen the difference between Chicago and the State borrowing for pensions is the tax base. Chicago has no ability currently to tax income and that is not likely to be granted to Chicago via home rule authority. We are in deep fiscal trouble here in Chicago, trouble to be honest that is former Mayor Daley’s fault. Daley refused for years to raise taxes even after the losses incurred by the fiscal meltdown in 2008 with the funds losing millions. We got very lucky that Chicago never received the Olympics, that would have been a fiscal time bomb exploding about now. Emanuel tried to manage Chicago’s bad bond ratings but he has really achieved very little because of the pressures on him from Aldermen from low income and low income and low,property value wards that are also facing the wave of shootings.
As I said it’s a good plan for the Mayor to retire. The pain of taxes in the future will be significant and he can watch it all unfold.
- wordslinger - Tuesday, Sep 4, 18 @ 6:51 pm:
– On the other hand a lot of younger working voters and especially recent arrivals to Chicago probably don’t feel a lot of personal responsibility for those bad decisions (and votes) of the Daley years and probably don’t think they should be on the hook for them.–
Responsa, I don’t hang with the cool wiz kids like you do.
Tell us, when you get together with them, are they just weepin’ sad about unions and pensions?
How do you comfort them, these poor kids who will be trapped forever in their two-flats?
- Arthur Andersen - Tuesday, Sep 4, 18 @ 6:55 pm:
Rod, read my post carefully. I didn’t take a position on Chicago POBs-simply observed that a number have opined, usually against, without considering the Illinois experience.
- NorthsideNoMore - Tuesday, Sep 4, 18 @ 8:25 pm:
Good news for Chicagoans now maybe they willl get someone in office that will actually address the gang violence and the go after the source and leave law abiding citizenry alone. He was done politcally (locally and nationally) with the McDonald scam/coverup of what did he know and when did he know it) and the greatest lie of “I never watched the video” before the city settled for what was it $5 million? Gary McCarthy your path just got clearer.
- revvedup - Tuesday, Sep 4, 18 @ 9:29 pm:
Vallas, people. Has street cred from time as CPS boss, also professional government experience. Lightfoot and McCarthy are compromised by their past poor performance and political decision-making to detriment of CPD, many of the other candidates lack professional managerial experience and stable voter bases. Homogenizing the Black and Hispanic votes in one candidate highly unlikely given differences in culture and socioeconomic status across City; too many candidates running resembles the 2016 Republican Party debacle of too many small-market candidates with no City-wide electoral base.
- TinyDancer(FKASue) - Wednesday, Sep 5, 18 @ 8:23 am:
=Vallas, people. Has street cred from time as CPS boss, also professional government experience. =
Vallas? Really? Vallas is the one who diverted CPS pension payments to the mayor. Then he was tossed out of Connecticut for lacking credentials.