Posted on 05/21/2023 12:26:48 PM PDT by CFW
The Chicago Mercantile Exchange (CME) has been operating in the Loop since 1898, just 27 years after the Great Chicago Fire.
The exchange was part of the city’s rebirth and helped establish Chicago as a financial hub.
Now, we see the opposite of rebirth with Chicago’s population shrinking.
And the $66 billion CME may not be around to help with future renewal: The company has rewritten the terms of its lease so it can leave the city if politicians pursue “ill-conceived” public policy.
“We’re in a very strong position,” CME CEO Terry Duffy said in a recent interview. “If we had to leave, we could leave.”
He’s proposed new taxes worth about $800 million, including a financial transactions tax that would make it impossible for CME to do business in Chicago.
Mayor Brandon Johnson was inaugurated May 15, becoming one of the most radical city leaders in the country.
(Excerpt) Read more at nypost.com ...
The left certainly wouldn't want one of their own to be killed by having that bus run over them.
Brandon Johnson is a captive of public sector unions.
And now that they have their puppet in charge of the city, they can really exploit their total monopoly on government and law-making
Besides, the company has the word "Chicago" in the name. Think of all of the cost of replacing the stationery, etc.
ON THE OTHER HAND, if the Merc moves out of an urban area into more pleasant surroundings and better weather, why does "Wall Street" need to be located on Wall Street?
“First we get the money.”
https://acrecampaigns.org/research_post/first-we-get-the-money/
Any business leader that keeps their company in Chicago is guilty of malfeasance.
Best post of the thread
Chicago voters: let’s replace Lightfoot with Johnson. Brilliant!
Your post reminds me of the endless sales tax scams that the tax eaters perpetually use to try to increase county sales taxes. “It’s only a penny tax” is one of their favorites. There was a table set up at some event pushing the tax with the usual suspects “answering” questions so Iasked since it’s only a penny tax if I buy something that cost $100 I only add a penny to my tax on it? Answer: “no you’d pay another dollar.”
Me: “but you said it was a penny tax. You have a sign on your table saying it’s a penny tax “
Them: “No it’s a penny on the dollar.”
Me: “so it’s not a penny tax, it’s a one percent tax and a 20% increase over the current 5% sales tax”.
Them: silence.
I work with a guy who is from Chicongo. He has not been there in 30+ years and will never go back. Not even to fly into. Said he couldn’t leave fast enough.
Yup. If the CME leaves for good then it’s Chitroit for sure!
Neighboring states - Wisconsin or Indiana should make proposal to build trading hub there Tell Chiraq and their taxes to f*ck off
Traders wont even have to move, just commute few miles over border
So will it be newsome or Harris?
2010 - R.I.P.: Al Gore’s Chicago Climate Exchange Has Died
Maybe that’s what he was referring to when he said there’d be no more icebergs or snow on mountains by 2010?
So the CME is renting from itself?
Wellll,when you want morons to run the city, that is what you get......
Of course, it helps that most of the voters are morons, too...
I have never lived in Chicago, or even Cook County, but my office was downtown, in the Loop. I rode the train to work and back every day. I retired in 2016, and I haven’t been in Chicago or Cook County since the day I retired; and I have absolutely no intention of ever doing so.
EVERY PERSON MAKES “TRANSACTIONS” EVERY SINGLE DAY-—
Pay your power bill? TRANSACTION
PAY for a SLURPEE??? TRANSACTION
Buy a new pair of socks? TRANSACTION
Put gas into your car with credit card? TRANSACTION——
THEN PAY CREDIT CARD BILL-—ANOTHER TRANSACTION
I only write about 10 checks a month—paying my bills, but every charge on my credit card before I get the bill IS A TRANSACTION.
120 checks a year X $2==$240 I don’t need to pay on top of the INFLATION we already have,
People in Chicago must be brainwashed, as George Romney once said about his past support for the Vietnam War.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.