A former business partner of Gov. Bruce Rauner is suing Rauner, but all court records in the case are being kept secret — allegedly at the governor’s request.
The lawsuit against Rauner was filed last week by Harreld “Kip” Kirkpatrick III and the Kirkpatrick Capital Partners Fund, according to Cook County Circuit Court records. […]
He said the lawsuit was filed as a “result of a dispute with a former partner” — namely Rauner, according to a memo that Kirkpatrick sent to Vistria employees. […]
“In consultation with our legal counsel, we do not believe the lawsuit should be sealed and we are hopeful that a judge will deny Gov. Rauner’s attempt to keep it from public view,” Kirkpatrick added.
While the exact allegations remain unclear, the lawsuit against Rauner is tied to how settlement proceeds from a Michigan lawsuit were divvied up.
Kirkpatrick Capital Partners paid $10 million in 2011 for a 20 percent stake in what’s now Troy, Mich.-based United Shore Financial Services, according to the Michigan lawsuit.
Kirkpatrick served as the firm’s CEO from 2011 to 2013, but relations between him and the company’s founding family soured.
In 2015, Kirkpatrick Capital sued United Shore and Jeffrey and Mathew Ishbia, members of the founding family that remains the majority owner. The Ishbias, the lawsuit claimed, pulled the plug on Kirkpatrick’s efforts to sell the company — which by then was valued by Raymond James Financial Services at $400 million to $525 million. At least four firms expressed interest in buying the company in early 2013, but the Ishbia family suspended the sales process because it “did not want to give away so much of this newly created value to” Kirkpatrick Capital, the lawsuit says.
This morning the Chicago Tribune and Chicago Sun-Times both wrote stories about Governor Bruce Rauner’s involvement in a lawsuit that he’s requesting to stay secret. Rauner is being sued by Kirkpatrick Capital, a firm he was still invested in 2016. From what little is known, the story feels familiar – Rauner and the other Kirkpatrick Capital investors intended to invest in an existing company quickly sell if off at profit while undercutting the owners.
“In 2015, Kirkpatrick Capital sued United Shore and Jeffrey and Mathew Ishbia, members of the founding family that remains the majority owner. The Ishbias, the lawsuit claimed, pulled the plug on Kirkpatrick’s efforts to sell the company — which by then was valued by Raymond James Financial Services at $400 million to $525 million. At least four firms expressed interest in buying the company in early 2013, but the Ishbia family suspended the sales process because it ‘did not want to give away so much of this newly created value to’ Kirkpatrick Capital, the lawsuit says.
‘The parties understood that Kirkpatrick Capital was not making a long-term investment in Shore,’ Kirkpatrick’s lawsuit against United Shore said. ‘Kirkpatrick was investing in Shore with the understanding that Shore would be marketed for sale in the near term.’”
Bruce Rauner leaned on his business acumen during the 2014 campaign, but investigative reports found that companies Rauner invested in were pushed into bankruptcy or stripped down for profits. Flash forward three years to when Governor Rauner called on the legislature to sustain his budget veto even though it would push the state into junk bond status, and a pattern emerges.
“Bruce Rauner sold voters a bill of goods when he said as a businessman he would turn the state around,” said DGA Illinois Communications Director Sam Salustro. “Just like he did in business, Rauner racked up Illinois’ debt and was pushed the state towards a fiscal cliff all for political profit. Now he wants to hide his true record from the public but it’s too late. Voters know they are worse off under three years of Rauner’s failed leadership in action.”
Today, the Illinois Republican Party launched the 2018 Madigan Retirement Plan. The initiative will specifically target members of the Illinois House and Senate who empower their political boss, Mike Madigan. Through the 2018 Madigan Retirement Plan, the Illinois Republican Party will also offer unprecedented support to local GOP organizations by providing innovative grassroots tools, enhanced digital and data integration, and targeted support for local Republican candidates in an effort to defeat Democrats at every level who empower their party leader, Mike Madigan.
The longest serving House speaker in United States history, Mike Madigan was first elected to the Illinois House in 1970 and rose to the speakership in 1983. In 1998, Madigan was elected Chairman of the Democratic Party of Illinois. At the end of his current term in the House, Madigan will have been a member of the Illinois General Assembly for 48 years, speaker of the House for 34 years, and chairman of the Democratic Party for 21 years.
Today, the Illinois Republican Party received a $4,450,000 contribution from Governor Rauner’s campaign to launch the 2018 Madigan Retirement Plan. In total, the Illinois Republican Party has received $6.6 million from Governor Rauner’s campaign this year.
Below is a statement from Illinois Republican Party Chairman Tim Schneider on the 2018 Madigan Retirement Plan:
“Four decades in power is long enough, and with Governor Rauner’s support, Illinois Republicans can ensure 2018 is Mike Madigan’s last year as Speaker. Governor Rauner has shown time and time again that he is committed to revitalizing the Republican Party in the state of Illinois. Thanks to Gov. Rauner’s unprecedented commitment, we are now closer than ever to retiring Speaker Mike Madigan once and for all.”
* Meanwhile, a DuPage County Board member running for retiring GOP Rep. Mike Fortner’s seat launched on Rauner today…
Tonia Khouri, candidate for State Representative in the 49th District releases the following statement:
I consider myself a free-market conservative and pro-life.
Being a loyal Republican for 30 years makes this decision difficult and sad. However, I cannot in good conscience support our current governor, Bruce Rauner. He has made decisions that financially hurt our state like the Chicago school “bailout” and the expensive “sanctuary state” bill. However, the final straw was allowing taxpayer-funded abortions on demand. The financial and moral consequences of HB40 will haunt this state for years to come.
If we continue down this path, not only will Illinois be financially bankrupt, it will be morally bankrupt as well.
Therefore, I stand in unity with conservatives, with pro-lifers, and those who feel betrayed by our governor’s recent actions and will not be supporting Bruce Rauner for Governor.
It’s not too late to save our state - we just need the right people in Springfield to do it.
* Rep. Norine Hammond (R-Macomb) had been one of just two three out of 15 House Republicans who either retired or attracted a primary opponent after voting for the income tax hike. Hammond got a primary opponent today. Two guesses who’s backing him…
Joshua L. Griffith has announced his Republican candidacy for State Representative of the 93rd House District pledging to oppose the political classes’ tax hikes.
Born and raised in Knox County, Joshua Griffith joined the Army at 17 and served for 11 years before retiring as a Sergeant First Class and returning home.
“Illinois has the highest taxes in the nation and the politicians only plan is force us to pay more,” said Griffith. “Families are fleeing Illinois because they can’t afford to stay. We need a State Representative who will stand up for our interests, not do the bidding of Mike Madigan and the Chicago Democrats.”
Griffith is running to replace incumbent Norine Hammond, who was hand picked to join the General Assembly and appointed to the seat in 2010.
After seven years in office, and another decade as legislative aide, Hammond is most famous for joining with Mike Madigan and Chicago Democrats to pass a 32% income tax hike earlier this year.
Rep. Mike Unes (R-East Peoria) is the last one standing, in case you were wondering. ADDING: Rep. Charles Meier also doesn’t have an opponent.
Donald Moore, a retired U. S. Marine and current Madison County Board member, today announced his campaign for State Representative in the 108th district to strengthen conservative leadership and conservative convictions in Springfield.
Moore is running to provide voters with a principled and fiscally conservative alternative to incumbent Representative Charlie Meier. Moore said Meier, a registered Republican, joined the ranks of Speaker Mike Madigan and Chicago Democrats to pass a 32 percent income tax hike built into a budget that does not recognize that Illinois continues to spend more money than you already send them in taxes.
“I’m running for office to bring our conservative values and principles to state government,” said Don Moore. “Our families deserve to be represented by a leader who will stand up and not waiver when it comes to seeking a fiscally conservative approach to solving Illinois’ debt problem.”
Charlie Meier voted in opposition to Governor Rauner and with Speaker Madigan to pass a 32 percent tax hike that will cost the families of Madison County an additional $70 million in higher taxes. It will cost the families of Clinton County $9.6 million, St. Clair County $56.5 million, and Washington County $3.8 million in more taxes.
[ *** End Of Update *** ]
* Speaking of which…
Potential gubernatorial challenger Jeanne Ives adds $10K from Illinois Liberty PAC, currently chaired by Pat Hughes.https://t.co/08dmki1YEt
* Let’s do some other campaign stuff while we’re at it. BND…
St. Clair County State’s Attorney Brendan Kelly’s first quarter as a congressional candidate has garnered more than $350,000 in campaign contributions, including some from a top Democrat.
The campaign also said it’s the best off-year quarter by a challenger, according to its research.
Kelly, a Democrat hoping to unseat U.S. Rep. Mike Bost, R-Murphysboro, in the 12th congressional district in the 2018 election, has received more than 900 individual contributions. […]
According to Federal Elections Commission data, Kelly’s first quarter of fundraising on the campaign trail was better than any quarter by C.J. Baricevic, who was the Democratic nominee for the 12th district in 2016.
The Republican Attorneys General Association (RAGA) released the following statement following Sharon Fairley’s announcement that she would be running for Illinois Attorney General. Fairley most recently served as the chief administrator of the Chicago Civilian Office of Police Accountability.
“Sharon Fairley was recently appointed as Mayor Rahm Emanuel’s police oversight chief, but is already looking for a promotion. The Civilian Office of Policy Accountability was literally open ten days before rumors began circulating the she was likely to leave,” said RAGA Executive Director Scott Will. “Not exactly the qualities you look for in a leader of a critical law enforcement agency, let alone the top law enforcement officer of an entire state. Illinois needs an attorney general that actually wants to do the job.”
When it came Madigan’s control as [Illinois] Democratic Party Chair, will candidates work with the Speaker of the House in their bid for the governor’s seat? Ahern states, “some people say he has more power than the governor.” She asked about the candidates’ relationships with him.
Tio Hardiman rebukes Madigan:
“We need a governor who will stand up to Mike Madigan and Mayor Rahm Emanuel. We don’t get a governor to stand up to politics as usual in Illinois, it’s the same powers over and over,” he continues. “Once I become Governor, I believe Mike Madigan will retire because I don’t believe he wants to deal with me.”
Biss adds, “Mike Madigan has been the Speaker for way too long and it’s held us back. It’s held the Democratic party back.”
As one of the hundreds in attendance, community activist Wallace ‘Gator’ Bradley was miffed at the ant-Madigan comments. “I don’t think anyone should be afraid to stand with anyone who stands with them and what they feel is better for Illinois. That was a question in the debate. In the end, whoever becomes the nominee, they’re not going to turn away Madigan or Berrios’ support,” says Bradley, who is a supporter of Pritzker.
So, Gator Bradley defended… Madigan and Pritzker? Yep.
There was a time not long ago when Gator Bradley was considered pretty darned controversial. I asked the Pritzker folks today if Bradley had a role in the campaign and was told “Nope.”
Come out and help protect your second amendment rights and maybe even win a gun. By supporting this event you are helping to support and elect candidates that realize your constitutional rights are not a gift from the government.
We will be starting the night off at 5:30pm with appetizers at 6:00pm.
Dinner will be served at 7:00pm with gun raffle ticket sales being sold from 5:30 until after dinner when the drawings will start.
A $2,000 check makes you a “2nd Amendment Sponsor” and gets you 10 dinner tickets, a full-page ad in the program, 10 dinner raffle tickets for a Mossberg shotgun, 6 raffle tickets with the chance to win one of three 22 rifles. You’ll also get a Smith & Wesson M&P 15 SPTII 223…
Lake County Republicans are moving ahead with a fundraiser where at least a dozen firearms will be given out to donors Friday night, less than two weeks after the deadliest mass shooting in modern U.S. history in Las Vegas. […]
Mark Shaw, the Lake County GOP chairman, said the first-of-its-kind event for local Republicans would proceed as scheduled because it had long been in the planning stages. The Oct. 1 shooting of concertgoers in Las Vegas by a sniper at the Mandalay Bay hotel killed 58 people and wounded hundreds of others.
“Unfortunately, obviously, the tragic events in Las Vegas happened and the fact that we had a dinner scheduled for the 13th of October, that’s been something that’s been in the works for over a year,” Shaw told the Chicago Tribune on Tuesday. […]
“Only the right-wing Republicans would be having something like this at this time. If you truly believe in the 2nd Amendment and that it was a terrible situation in Las Vegas, you probably could easily cancel something and nobody would think bad of you,” said [Sen. Terry Link of Waukegan, the Lake County Democratic chairman], who had been unaware of the fundraiser until asked about it by the Tribune.
A portion of the proceeds will be donated to the Las Vegas Law Enforcement Assistance Fund, according to the Tribune.
*** UPDATE 1 *** The governor has been dodging reporters’ questions on gun control since the Las Vegas shootings. This, however, gives the issue a state angle for reporters to pursue…
Bruce Rauner has donated $16,000 to the Lake County Republican group hosting this gun giveaway https://t.co/7vpe7tf6GV
*** UPDATE 2 *** More fodder for Rauner questions…
Earlier today, State Representative Scott Drury (D-Highwood) introduced legislation to ban the sale, manufacture, possession, transfer or importation of bump stock devices – firearm equipment that essentially converts a semi-automatic weapon into a machine gun. The shooter responsible for the recent devastation in Las Vegas, Nevada used bump stock devices to fire his ammunition at a much more rapid pace than would otherwise have been possible. The devices allow a shooter to increase his firing rate from between 45 and 60 rounds per minute to between 400 and 800 rounds per minute.
“Machine guns are illegal in Illinois,” said Drury. “Common sense dictates that a device that essentially converts firearms into machine guns should also be illegal.”
Since the Las Vegas massacre, there have been bi-partisan calls for a ban on bump stock devices. Drury says his proposal answers those calls. According to Drury, he intentionally limited the scope of the proposed legislation to bump stock devices to allow the public to see which legislators truly support a bump stock ban. “There is nowhere to hide,” said Drury.
Drury has long advocated for more responsible gun laws, and currently is a co-sponsor of legislation requiring the licensing of gun dealers. In 2013, Drury successfully raced to make sure towns throughout a major part of his legislative district imposed assault weapons bans and regulations notwithstanding an NRA-backed law that sought to eliminate towns’ abilities to exercise local control on the issue. “The NRA’s legislation gave towns 10 days to implement assault bans or forever lose the right,” said Drury. “In that short timeframe, we accomplished what the NRA thought would be impossible – we acted quickly and won, preserving local control in the process.”
Drury says it is again time to act swiftly. “Illinois has the opportunity to take the lead on a national issue of critical importance and help save lives.”
Drury’s legislation is House Bill 4112.
*** UPDATE 3 *** This was sent a couple of hours ago, but I never got it…
In the wake of the deadliest mass shooting in American history, Lake County Republicans are moving forward with a party fundraiser that hopes to draw crowds by raffling off a host of firearms. But Bruce Rauner has been silent on his own party’s controversial fundraising tactic.
If history is any indication, Rauner will likely have nothing to say. Two days ago, Rauner refused to speak out about mass shootings, saying he has “no obligation to comment” on national issues. Last week, Rauner dodged reporters’ questions for days on his position on gun legislation and what he would do to keep Illinoisans safe.
“While Bruce Rauner refuses to tell Illinoisans how he will prevent mass shootings in our state, his party is raffling off guns just weeks after the tragedy in Las Vegas,” said Pritzker campaign spokeswoman Jordan Abudayyeh. “This is a shameful insult to American families still mourning and should be immediately condemned by Rauner, the top Republican in our state.”
The governor worked to cut through decades of delay and gridlock to sign a compromise bill that results in record levels of public education funding, a first of its kind tax credit scholarship program for low income students, and more funding for school districts that need it most.
Improving education was a major reason why Bruce ran for governor. Years before running for governor, Bruce and his wife, Diana, had spent years working to improving education in Illinois schools by supporting early childhood development, charter and choice schools, better teacher training and merit pay.
Now, Bruce is fighting for reform throughout Illinois, working to clean up the mess the Madigan Machine created, one step at a time. It won’t be easy, but Illinois is home — and home is worth fighting for.
*** UPDATE *** Galia Slayen at the Pritzker campaign…
According to Bruce Rauner, Illinois is a pile of dirty socks and pizza and he is the parent cleaning up after Illinois families. We get that it’s hard to run a campaign without accomplishments, but it’s generally best not to both lie and insult voters in a single ad. The truth is, Bruce Rauner pitted communities against each other, vetoed the school funding formula, and then forced other leaders to clean up his mess
