* The Tribune answers two questions that I’ve been asked the most since yesterday’s announcement…
As for the millions of dollars in his campaign war chest, the mayor said he would return it to donors. Emanuel said he’d stay out of the political race to succeed him but would be a “keen observer.”
* We’ll see if this becomes true…
A day after pulling the plug on his bid for a third term, Mayor Rahm Emanuel on Wednesday said Chicago’s next mayor hasn’t yet entered the race to succeed him.
Emanuel told WGN radio host Steve Cochran he doesn’t think any of the 12 announced candidates for the fifth floor office at City Hall has the skill set to do the job, while getting in plugs for some of his own work.
* And then there’s this…
The announcement also raises more immediate questions over whether the Emanuel administration will move forward with a $10 billion pension obligation bond issue that could prove a harder sell with the buyside now that uncertainty looms over the city’s future leadership. The city’s finance department could not immediately be reached to comment. A decision had been expected as soon as this week.
The city’s decision, market participants say, will hinge on rating agency analysis because the city wants to preserve its general obligation rating and higher-grade securitization credits under a structure that would likely tap the securitization.
* I have serious doubts about Kass’ Vallas prediction, but he’s absolutely right that the downtown interests are frantically searching for “their” candidate…
Mayor Rahm Emanuel drops a political bombshell on Chicago, announcing he won’t run for re-election, and just like that the race for mayor has been transformed: It’s Lord of the Flies on LaSalle Street. […]
But institutional Chicago — the banks and others of the financial sector, the foundations and so on — and those who write the big campaign checks, may now see Vallas as the only announced candidate who can run Chicago from day one.
* And, finally, this revised meme is from a pal who is bored today because he focuses on state politics and everybody is talking about the mayor’s race…
I’d change “entire city of Chicago” to “every Chicago-based political reporter/pundit,” but why quibble with near-greatness?
* How Emanuel’s exit may affect Chicago’s bid for Amazon’s HQ2
* Rahm Emanuel wanted to expand O’Hare airport and partner with Elon Musk on high-speed rail. Now what?
* CS-T Editorial: Rahm made tough calls but just couldn’t unite our city. Can anyone?
* Allies praise Rahm Emanuel, but critics are eager to turn the page: “This union, the CTU, followed Karen Lewis into battle, and today we’ve won,” Sharkey said. “Make no mistake, the members of this union won. We knocked out Mayor 1 Percent.”
* In Rahm Emanuel’s tenure, a global vision bogged down by local issues: Although some of Emanuel’s accomplishments helped critics label him as “Mayor 1 percent,” he will leave his mark on a Chicago that now, perhaps more than ever, looks the part of a titan in American business, culture and tourism. He may be remembered as the mayor who brought a Whole Foods to Englewood, but not the one that ended decades of disenfranchisement there and in other neighborhoods like it.
* Rahm Emanuel’s announcement comes on eve of trial over police shooting that plagued his second term
* Zorn: Surprised yet grateful that Emanuel is passing the torch: I’m also glad that, with Emanuel out of the race, the campaign will be less about the past and more about the future. The prospect of an endless relitigation of Emanuel’s most regrettable decisions in office would have made for a harsher and more backward-looking campaign than we need or deserve.
* Greg Hinz: Three folks to watch as the mayoral derby gets going - Lots of names are emerging in the wake of Emanuel’s decision not to run, but Toni Preckwinkle, Susana Mendoza and Mike Quigley are on the interim short list.
* Toni Preckwinkle testing the waters for possible mayoral run: Preckwinkle has also been a close friend of legendary former Chicago Teachers Union president Karen Lewis and this/close to Cook County State’s Attorney Kim Foxx.