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* Richard Irvin campaign…
Pritzker’s Hyatt Corporation on Short List of American Companies Refusing to Stand with Ukraine
AURORA - As Russia’s war on Ukraine rages on and companies across the globe sever ties with Russia, JB Pritzker remains radio silent on if his billion dollar hotel chain will do the same. With economic pressure mounting, over 100 American and international corporations have stopped doing business in Russia, condemning the country’s aggression while Pritzker’s Hyatt hotel chain looks the other way.
“While Americans are looking for ways to hamper Russia’s efforts in this unprovoked war on Ukraine, Pritzker needs to answer if he believes his family should pull out of their hotels in Russia,”said Irvin for Illinois campaign spokesperson Eleni Demertzis. “Pritzker talks about standing with Ukraine but when it comes to something he can actually do, his silence is deafening.”
As if staying silent isn’t bad enough, a Crain’s Chicago Business story notes that “the Pritzker family-backed Hyatt and its competitors are downplaying the impact of the Russian invasion on their business” and that they haven’t seen any “material impacts” of the war on their company.
Pritzker’s financial interests continue to be a headache for the governor. Just weeks ago, an investigation uncovered that Pritzker has personally profited off an investment with one of the state’s largest Medicaid vendors. He continues to dishonestly claim that he had no knowledge of the investment even though he signed a document attesting to it.
* Response from Natalie Edelstein at the Pritzker campaign…
No American companies should continue doing business with Russia, Hyatt included. The governor has no leadership or management role in Hyatt, nor does he own stock. He believes that we must stand firm against Vladimir Putin’s senseless aggression, which is why he directed Illinois’ employee pension systems to review potential divestment in Russian assets and why he will continue taking action to support the people of Ukraine and democracy worldwide.
* OK, but what about CIBC Trust Co. (Bahamas) Ltd., which is an offshore Pritzker family trust that holds lots of Hyatt stock? In 2013, JB Pritzker held 6 million shares of Hyatt stock through that trust, according to an SEC 13D filing.
Edelstein pointed to a 13D filed last year which no longer lists the governor as a stockholder through the trust. And, Edelstein added…
JB unequivocally is not the beneficiary of any trust that holds Hyatt stock-foreign or domestic, with CIBC as the Trustee or with any other Trustee. He has zero interest directly or as a beneficiary in any Hyatt stock.
The listing of CIBC as Trustee for Hyatt stock on the 13D does not include JB.
posted by Rich Miller
Wednesday, Mar 9, 22 @ 11:23 am
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How does that work, that he gets out of a family trust? Does he “cash out”, so to speak, or just give up the money?
Comment by Perrid Wednesday, Mar 9, 22 @ 11:26 am
Republicans with provably false talking points? Quelle suprise.
Comment by Homebody Wednesday, Mar 9, 22 @ 11:39 am
“In 2013, JB Pritzker held 6 million shares of Hyatt stock”
I know republicans are generally stuck in the past, but this is getting absurd.
So we can talk about what Richard Irvin did 9 years ago too?
If this is all they’ve got, I’m not even concerned about Irvin anymore. He’s joined the rest of the crew as comedy relief.
“Irvin prosecuted [xyz] under the law, before he defended [xyz] under the law - depending on who was paying him at the time.”
good luck, friend.
Comment by TheInvisibleMan Wednesday, Mar 9, 22 @ 12:09 pm
Richard Irvin’s taking a page from the Russian campaign tactics of misinformation. Let’s talk about that.
===How does that work, that he gets out of a family trust? Does he “cash out”, so to speak, or just give up the money? ===
Given the assets the family trust is responsible for I would expect that the trust document itself has provisions to address those actions and would in most cases be private.
Comment by Candy Dogood Wednesday, Mar 9, 22 @ 12:11 pm
These attacks are not only stupid, but becoming just simple noise. How many unsubstantiated cries of “wolf” will republicans yell out? The law of diminishing returns is already setting in…..Pritzker is going to cream whomever the R’s put up.
Comment by allknowingmasterofraccoondom Wednesday, Mar 9, 22 @ 12:11 pm
Are the same people making the claims about Pritzker’s finances being equally diligent about their own personal retirement/investment holdings related to Russia at any level?
Comment by zatoichi Wednesday, Mar 9, 22 @ 12:20 pm
This isn’t about Irvin, Irvin running against Pritzker, it’s Griffin v. Pritzker and these billionaires deciding to “call” each other on whatever monies can seem (or are) hurtful for the other to have.
Pritzker (his Crew) will likely go after Griffin and his wealth and his “soft points” a great deal, if only to take aim at any perception of Griffin that is good… won’t be at all favorable “after”
For Griffin, he’s all but said it in plain speak, it’s personal.
It’s personal to Griffin that it’s not a GOP slate or top if the ticket, it’s “Griffin’s Slate”.
It’s trust funds, it’s investments, it’s dividends, it’s money. That’s where this lil part of the campaign and it’s personal spin will be fought, and alleged dirty laundry hung.
Folks like me? Welp, “for me”… anyone willing to take down the racist thinkers, conspiracy theorists, and insurrectionists (and their apologists), I like that. A lot. Like “a lot, a lot”… and while the whole “Rauner Crew” aspect is now so very 2013-2018, it’s important to Illinois, not the ILGOP but to Illinois, that Griffin implodes the bad actors of the party by tearing it down with the slate.
So this personal battle between Griffin and Pritzker on monies that seem so out of reach to any average person… yeah, it’s good theatre, show business, maybe even important to what money… real money… means to Ukraine, racism, Russia, or even wealth and class… and it won’t stop… because when folks have enough cash that it seems they can print it, these battles will go on and on.
Comment by Oswego Willy Wednesday, Mar 9, 22 @ 12:28 pm
What can JBP do? I mean, his campaign has a point, when it comes to wielding influence to Hyatt, who is JB? Just a regular ol’ billionaire who’s also the governor of a state.
The man can only do so much given his lack of standing or soapbox.
Comment by SWSider Wednesday, Mar 9, 22 @ 12:34 pm
“The man can only do so much given his lack of standing or soapbox.”
The Pritzker campaign literally said, “No American companies should continue doing business with Russia, Hyatt included.”
Do you need him to come over to your house and read that to you in person?
– MrJM
Comment by MisterJayEm Wednesday, Mar 9, 22 @ 1:11 pm
===Do you need him to come over to your house and read that to you in person?===
Sure, why not. lol
Comment by Rich Miller Wednesday, Mar 9, 22 @ 1:16 pm
Pretty weak on Irvin’s part. You pull one layer of the onion and your claim completely falls apart. He should probably worry and focus a lot more on Bailey.
Comment by levivotedforjudy Wednesday, Mar 9, 22 @ 1:23 pm
===Do you need him to come over to your house and read that to you in person?===
Sure, why not. lol==
Then 5 minutes after he leaves, Pat Quinn will show up at your door asking to mow your lawn with his century-old Sears catalog lawnmower.
Comment by NonAFSCMEStateEmployeeFromChatham Wednesday, Mar 9, 22 @ 1:33 pm
Air the end of the day, the only money that matter is how the state is handling its finances, its credit ratings, its long-term indebtedness, its fiscal foundation. Is the Governor improving the state’s fiscal foundation - yes. Is the Governor investing funds in effective public purposes wisely - yes. Is the Governor mindful of trying to find ways to save tax dollars and streamline - yes. On the money issues that matter to taxpayers (as opposed to trust funds the affect two people), this Governor has done and is doing very well.
Comment by here we go Wednesday, Mar 9, 22 @ 1:46 pm
==The Pritzker campaign literally said…
The man literally had his campaign send out a press release in response to another campaign’s press release.
His cousin is Executive Chairman of the company. Forgive me for thinking there might be some more he could do.
Comment by SWSider Wednesday, Mar 9, 22 @ 2:24 pm
So why is JB refusing to go back in time to 2013 to correct this?
And if he would come over to explain it all to me, I would appreciate it if he brings Richard Irvin with him. They both have some explaining to do about the past. /s
Comment by Bruce( no not him) Wednesday, Mar 9, 22 @ 2:49 pm
==Forgive me for thinking there might be some more he could do.==
And what exactly “more” should he be doing genius?
Comment by Demoralized Wednesday, Mar 9, 22 @ 2:49 pm