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posted by Rich Miller
Thursday, Dec 8, 11 @ 5:25 am
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We’ve all lost our minds. From the Trib:
–Sara Lee Corp. will receive between $5 million and $6.5 million in city incentives to headquarter its meat business at 400 S. Jefferson St., Mayor Rahm Emanuel will announce Thursday.
The Downers Grove-based company is cutting as much as half of its staff as it relocates between 500 to 650 employees to the city by early 2013. Sara Lee had about 1,000 area employees in January.–
So now Chicago puts up $6.5 million to poach a company from Downers Grove, and grease the way for it to cut half its jobs.
How does that benefit anyone, other than Sara Lee and Mayor Emanuel, who gets $6.5 million worth of one-day media coverage?
Sara Lee is Fortune 191 and had profits of $506 million on revenues of $12.9 billion in 2010. I imagine they wouldn’t have to take up a collection to fund moving and shedding jobs.
Comment by wordslinger Thursday, Dec 8, 11 @ 10:57 am
These Rahm Emanuel “job creation” announcements are tired and starting to get offensive. If Walmart relocated its entire corporate headquarters to chicago and Rahm made it happen. That’s one thing, but these announcements look tacky now.
Comment by Shore Thursday, Dec 8, 11 @ 11:33 am
Love all the stories about Corzine not knowing what happened to his firm’s client’s investments. Oops, sorry. Another fine governor.
Comment by zatoichi Thursday, Dec 8, 11 @ 11:37 am
http://www.facebook.com/photo.php?fbid=235803346486047&set=a.119168204816229.16409.116381528428230&type=1&theater
Does anyone even wonder why they click on the “like” button anymore? Ohhhhh…look! A picture!
Must be Kirk’s big part in a State Job Creation Program.
Comment by Anonymous Thursday, Dec 8, 11 @ 1:07 pm