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* We all know that Gov. Rauner has no respect at all for JB Pritzker. As he said in Wednesday’s debate, Pritzker is a “trust fund baby” without any successes in life. His loathing shined through in an interview with Politico…
Although Rauner and Pritzker are both part of the elite sliver of Illinoisans who are used to lunching in the wood-paneled dining room of the Chicago Club, their passing familiarity with each other hasn’t led to a gentlemanly campaign. Rauner clearly doesn’t like or even respect Pritzker. “He was one of the guys who sort of loafed it and didn’t really chip into the family, didn’t really help run the family business, where all the wealth was created,” Rauner told me. He doesn’t have anything against the rest of the family, he added. “A couple of them are supertalented and I respect them,” he said. “I mean, they’re very accomplished. He is not.”
* Back in August, Rauner sat down for an interview with WCIA TV’s Mark Maxwell. He told Maxwell that Pritzker “has no success in creating value,” adding, “He’s had virtually no business success.”
Maxwell asked Rauner about 1871, the hugely successful incubator that kick-started Chicago’s now-burgeoning tech startup scene. Rauner’s response…
He along with many people pushed Blagojevich to put money into a venture incubator in Chicago. We’ve got about a dozen or more incubators around the state. 1871 is one of many. Pritzker got taxpayer money into that by his pushing with Blagojevich. And then Pritzker puts his own venture capital partner in charge of 1871 to guide those venture deals to his own firm. Conflict of interest. Unfair to use taxpayer money to create an environment to fund his own capital venture efforts, which are mostly, frankly failed. But he tried to set it up to benefit himself. That’s exactly the corruption and the conflict of interest that we’ve got to stop in this state.
Whew.
1871 was founded in 2012, by the way. Three years after Blagojevich was removed from office.
…Adding… I’m told the governor was referring to the I2A (Illinois Innovation Accelerator) venture fund, which was founded in 2007 with aid from DCEO. It’s now called Chicago Ventures.
…Adding… Gov. Rauner visited 1871 in June of 2016…
Just now, came here I’ve been following the progress here at 1871, this is one of the many incubators that we have throughout the state of Illinois to nurture young technology based entrepreneurial businesses. Howard Tullman who is the head of—here of 1871 he’s a 35 year friend of mine and an entrepreneur who my venture capital firm backed when he started one of his big successful businesses back in the early 1980s. Howard’s done a phenomenal job of building 1871 and creating it as an environment where entrepreneurs can come together, where venture capitalists can come together and young technology oriented people here in the city of Chicago can start new businesses can kind of realize their dream, and they’ve begun many and they’re already fledgling and often growing and many are coming back and giving back. There’s a big mentoring and tutoring program where business leaders from around metropolitan Chicago, around the state of Illinois come here to nurture and mentor other young entrepreneurs and help them succeed and do it—they don’t get paid for being mentors but they do it as how I was explaining because they can see the future, they see the new technology and the innovative ideas and then they come up with innovative ways for their businesses to partner and share and grow together. It’s very exciting, this is a model I’d like to see expanded more around the state of Illinois, we have a number of very good incubators down in Champaign, over in Peoria and in Rockford, but I’d like to see these expanded around the state and I’m particularly focused on helping the University of Illinois expand and have its relationships and its networks expand here to 1871, there already is a connection but I want to see it grown.
posted by Rich Miller
Friday, Oct 5, 18 @ 10:13 am
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founded 3 years AFTER Blago? Leave it to Rauner to never let facts get in the way of another lie. Nov. 6 can’t get here soon enough.
Comment by Big Joe Friday, Oct 5, 18 @ 10:21 am
My biggest worry about Rauner is that he believes all of the misinformation or lies that he constantly and consistently peddles.
Comment by Anon Friday, Oct 5, 18 @ 10:22 am
But … BENGHAZI!
Comment by Wallinger Dickus Friday, Oct 5, 18 @ 10:23 am
Would like to hear a reporter ask him how he got so familiar with the inner financial workings of the Pritzker’s — a famously insular crew.
Trying to tie Blago to 1871 proves Rauner just makes things up as he goes along. His habit of telling lies is pathological.
Comment by Roman Friday, Oct 5, 18 @ 10:24 am
Envy? What is it…
Comment by Annoyance Friday, Oct 5, 18 @ 10:24 am
I don’t understand why reporters allow him to get away with this stuff.
http://ubi-global.com/ranking-top-business-incubator-managed-university-2017-2018-2/
“Madigan and the Sweden-based benchmarkers/rankers of business incubators and accelerators worldwide that he controls…”
Comment by Soccermom Friday, Oct 5, 18 @ 10:24 am
Diana Rauner might disagree… so should The Ounce.
It was JB, his family and their foundations, saving The Ounce… from Bruce Rauner.
It’s telling, really.
Bruce’s heartless ways… JB talking about his mom… heart on his sleeve…
Bruce is jealous, not of JB’s money, but of the heart JB has, that Bruce can’t find in himself.
Comment by Oswego Willy Friday, Oct 5, 18 @ 10:25 am
I thought that article was well written, unbiased, and clearly laid out the causes of Illinois’ problems.
Comment by A Jack Friday, Oct 5, 18 @ 10:25 am
“which are mostly, frankly failed.”
Cleversafe, $1.3 B exit - https://www.americaninno.com/chicago/cleversafes-sale-to-ibm-created-80-millionaires-in-chicago/
Dollar Shave Club, $1 B exit - https://www.nytimes.com/2016/07/20/business/dealbook/unilever-dollar-shave-club.html
Comment by njt16 Friday, Oct 5, 18 @ 10:26 am
Rauner made money off of the public pension fund. That money was put their through the labor of public school teachers and public funds.
And Rauner made money off of it. Bragged about it.
Corruption, as defined by Rauner.
Pants on fire…
Comment by JS Mill Friday, Oct 5, 18 @ 10:26 am
Rauner’s temperament makes Brett Kavanaugh look mellow.
Comment by anon Friday, Oct 5, 18 @ 10:33 am
Success is unlocking value stuffing your pockets with other peoples money (back porch swindle)
Comment by Rabid Friday, Oct 5, 18 @ 10:33 am
HMMM - What say you Governor - Crain’s Business seems to disagree with your assessment…LOL https://www.chicagobusiness.com/opinion/jb-pritzker-governor
Comment by Joe C Friday, Oct 5, 18 @ 10:34 am
The Politico article I mean. Rauner is obviously very biased and apparently jealous of Pritzker’s success. Rauner doesn’t make himself likable by putting down other people. Rauner can’t get away with it like Trump has. Rauner degrades the dignity of the Governor’s Office by making such comments.
Comment by A Jack Friday, Oct 5, 18 @ 10:34 am
when his lips are moving… you all know the rest..
Comment by Not Rich Friday, Oct 5, 18 @ 10:36 am
== We all know that Gov. Rauner has no respect at all for == ________.
Fill in the blank. Does he have respect for anyone besides national disgrace Scott Walker?
Comment by Duopoly Friday, Oct 5, 18 @ 10:37 am
Rauner lives in an alternative universe.
A self aware person would have realized he is not good at governing. Then he could have backed a Republican candidate to succeed him.
Now he is harming his party and ensuring that State government moves left.
Comment by Last Bull Moose Friday, Oct 5, 18 @ 10:40 am
This guy just keeps digging. Will he have any credibility left in Chicago? Will he be able to comfortably rollerblade through Millenium Park after he finishes tearing down his reputation?
Comment by Henry Francis Friday, Oct 5, 18 @ 10:41 am
It’s interesting that Rauner and Trump have a similar way of communicating. How they say it is very different, but what they say is not.
They ignore facts they don’t like and instead create their own reality, using the official capacity of the offices they hold to pass it off as real.
They both know that the media will quote them. So they say whatever they want to benefit themselves.
Normally this kind of stuff is the subject of ugly TV ads that go away after campaigns. Now it’s the governing mantra of our executive branches.
Comment by Michelle Flaherty Friday, Oct 5, 18 @ 10:42 am
Success in business is no indicator of success in government. Rauner should know this. Having stated this, both are bad candidates for governor, but we are going to be stuck with one of them for the next four years.
Comment by Angry Republican Friday, Oct 5, 18 @ 10:42 am
I guess I might as well leave this here.
http://www.chicagotribune.com/news/ct-xpm-2014-06-06-ct-rauner-pennsylvania-pension-met-0606-20140606-story.html
Comment by Juice Friday, Oct 5, 18 @ 10:46 am
I he hates inherited wealth, what does that say about his feelings towards his own children?
Comment by Cheryl44 Friday, Oct 5, 18 @ 10:47 am
So much hatred consumes the hater.
Comment by don the legend Friday, Oct 5, 18 @ 10:48 am
I’m actually surprised it has taken Ranuer this long to point to the State’s grant for 1871 given how often JB to boost his credibility as a businessman. Doesn’t really impact my decision on who to vote for but I don’t believe that 1871 is the pie in the sky that people like to play up to be…
Comment by peteypablo Friday, Oct 5, 18 @ 10:50 am
*How often JB uses it to boost his credibility
Comment by peteypablo Friday, Oct 5, 18 @ 10:51 am
We all know that Gov. Rauner has no respect at all for JB Pritzker.
To be fair I think it cuts both ways Big Time
Comment by Lucky Pierre Friday, Oct 5, 18 @ 10:54 am
–Unfair to use taxpayer money to create an environment to fund his own capital venture efforts,…–
Unbelievable.
Says the guy who made his fortune using public pension funds to finance his vampire capitalist bustouts.
Isn’t it curious, that after all these years and approaching $200 million in campaign spending, Gov. Bidnessman has yet to offer any specifics on one job he created in the private sector, one company that he helped flourish.
Not one positive testimonial from anyone he’s ever done business with in his life (plenty of negative stories that Sgt. Schultz claims he knows nothing).
Give that a think.
Comment by wordslinger Friday, Oct 5, 18 @ 10:54 am
Nice article Juice. I had missed that when it originally came out. Sounds like Diana was calling the shots even then.
Comment by Ole' Nelson Friday, Oct 5, 18 @ 10:57 am
I guess $5 million doesn’t buy any good will from the Rauners. /s
Comment by Jocko Friday, Oct 5, 18 @ 11:03 am
Rauner’s own track record for creating things in his VC days doesn’t look too heroic…
Comment by Anonymous Friday, Oct 5, 18 @ 11:05 am
Rauner has been tied to deaths in nursing homes and veterans homes. Enough of his blather. Pritzker comes off as a decent human being and Rauner with his hate just digs himself a deeper hole.
Comment by DeseDemDose Friday, Oct 5, 18 @ 11:12 am
“The first close of the I2A Fund included individual investors Michael Ferro, Jr.,…”
Ok. So maybe Rauner is on to something with this one.
Comment by Juice Friday, Oct 5, 18 @ 11:19 am
Rauner reportedly went to a pension board meeeting to get more TRS business, in the tens of millions of dollars. The dude loves himself some public trough.
Comment by Grandson of Man Friday, Oct 5, 18 @ 11:30 am
Can the person who made the big floating Trump baby make one for Rauner?
Comment by a drop in Friday, Oct 5, 18 @ 11:30 am
$5 million to Ounce of Prevention, to save your wife’s foundation while she was suing you? Yeah I can see why that would make you bitter. He stood up while you told her short term pain will be worth it.
Comment by DuPage Bard Friday, Oct 5, 18 @ 11:36 am
“1871, the hugely successful incubator…”
They’re burning through their assets pretty quick though. They lost $1.2M last year. They’ve still got $6M in deferred rent sitting on their books. I’m not sure how Tullman justifies his salary given the losses, relatively low revenue, and other NFP’s.
Comment by City Zen Friday, Oct 5, 18 @ 11:59 am
Rauner has degraded the office of the Governor, made a laughingstock of this once great State, and lies to cover his lies.
And to Annoyance - Friday, Oct 5, 18 @ 10:24 am:
Envy? What is it…[?]
“It’s an emotional reaction to wanting something someone else has, but that’s not important now.”
Comment by revvedup Friday, Oct 5, 18 @ 3:01 pm
Cheryl44- Rauner ain’t plan’ to leave the kids much-
See near the end of this article: https://www.google.com/amp/www.sj-r.com/article/20160528/OPINION/160529534%3ftemplate=ampart
Comment by Anon221 Friday, Oct 5, 18 @ 3:45 pm
GoM, that’s how pension funds work. Yes, Rauner went there like every other prospective partner seeking to do “bidness” with the pension fund.
Do you think they should just mail out $50 million checks to everyone who checks off all the right boxes?
Comment by Arthur Andersen Friday, Oct 5, 18 @ 4:21 pm
I am tired of hearing that Bruce Rauner’s first job was as a paperboy as if that is a real workingman type of job. My first job was running a lemonade stand. So what? I also tired of hearing that his grandfather lived in a double wide trailer and that he (Rauner) pulled himself up by his bootstraps. So what again? One, the double wide trailer story insults and looks down on people who live in trailers (some of which are pretty nice) and two, that was his grandfather, not him, that lived in a trailer. Rauner grew up in Deerfield where his dad was VP of Motorola. My dad grew up in real poverty in the 1920s with an alcoholic father who was never around and never paid the rent. The water would freeze in the wash basins in their apartment overnight because they couldn’t afford the wood or coal to keep the stove running all night because his dad had drunk all the money up. My dad typically got up first in the ice-cold apartment in the morning to relight the fire in the stove so it would at least not be freezing when his mother and two little brothers again. The point is that my dad–not me–pulled himself up by his bootstraps out of poverty by becoming a sheet metal worker to insure that my siblings and myself could lead a middle class life instead of growing up poorer than dirt like he did. Bruce Rauner would not know either a real blue collar job or real poverty if they both jumped up and bit him in the rear end.
Comment by Dutch3001 Friday, Oct 5, 18 @ 4:41 pm