Posted on 12/16/2010 12:40:04 PM PST by PBRCat
Emanuel's tenant, Robert Halpin, wanted $100,000 to move early and allow Emanuel back into his home during a run for mayor.
Levy said he was the one who first spoke to the Halpins about them leaving the home early, and that Emanuel did offer some compensation.
Levy said he passed the $100,000 figure to Emanuel, who called it "ridiculous." The counter offer was $5,000 a month for every month early the Halpins left, Levy said. The lease is set to expire in mid-2011.
The lawyer for the Halpins later indicated they would not be moving, Levy said.
(Excerpt) Read more at newsblogs.chicagotribune.com ...
But he’s thinking of the future. This could set a precedent. What will the next Washington glory seeker do if he decides to go back home and run for lower office, and HIS tenants start getting uppity? We must keep those people (renters) in their place. Perhaps if he’d send someone over to break their legs and terrorize them, they’d see reason.
After serving as an advisor to Bill Clinton, in 1998 Emanuel resigned from his position in the Clinton administration and joined the investment banking firm of Wasserstein Perella (now Dresdner Kleinwort), where he worked until 2002.
Although he did not have an MBA degree or prior banking experience, he became a managing director at the firm’s Chicago office in 1999 and, according to Congressional disclosures, made $16.2 million in his two-and-a-half-years as a banker.
Emanuel was named to the Board of Directors of the Federal Home Loan Mortgage Corporation (Freddie Mac) by President Bill Clinton in 2000. His position earned him at least $320,000, including later stock sales.
******
January 2007 USA Today reported on Emanuel and his wife’s tax-exempt “foundation” (operated out of their Chicago residence). The tax-exempt “Rahm Emanuel and Amy Rule Charitable Trust” was formed in 2002, when the 4-term Chicagoan was first elected to Congress. Rahm and his wife, Amy Rule (a convert to Judaism), are its only donors. At one point the Emanuels did not pay real estate taxes b/c their residence is the tax-exempt foundation’s office. According to the Cook County Assessor’s website multi-millionaire Rahm Emanuel’s Chicago home doesn’t exist. There seems to be no public record of Emanuel ever paying property taxes on this home. The Cook County Assessor’s and Cook County Treasurer’s online records indicate Emanuel’s neighbors pay between $3,500-$7,000 annually. Illinois Review was unable to locate any evidence that Emanuel-— a multi-millionaire-—was paying taxes.
” Tax Collector “delisted” the property...”
During the past three years, Emanuel’s charity gave nearly $25,000 to the Anshe Emet synagogue and school [a private school that the Rahm/Rule children attend], and $15,000 to the foundation run by former president Bill Clinton.
Emanuel - the White House chief of staff reported 2008 investment income of at least $168,107 on a portfolio worth between $4.5 million and $11 million.
After leaving the Clinton White House — and before running for Congress from Chicago’s North Side — Emanuel made more than $16 million in 21/2 years as an investment banker.
Many of his investments are now in municipal bonds, a favored choice of the wealthy because their interest is tax-exempt. Emanuel has dozens of the bonds, whose issuers range from McHenry County to the Northeast Nebraska Solid Waste Coalition.
Or about $30,000. I’d take that deal in a heart beat. Wonder what the renter’s deal is?
Obviously they are getting between $30,000 and $100,000 to stay in the house. Rahm isn’t the only one with money that wants to be mayor.
Ah. For a minute I forgot this was Chicago ggggg.
You got it exactly. But if Ram (the ballerina) Emanuelle paid the $100,000 and it got out it would have been very embarrassing and killed his mayor chances
Although he did not have an MBA degree or prior banking experience, he became a managing director at the firm’s Chicago office in 1999 and, according to Congressional disclosures, made $16.2 million in his two-and-a-half-years as a banker.
If you want to know what corruption looks like, this is it.
Hey Rahm, how do you like the rules you and your buddies made to be applied to everyone else being applied to you?
True, some of his actions have been suspicious, but he’s a lifelong Chicagoian, and only left his residence to work for Obumer. A challenge to his residency is weak, IMO, but I don’t know all the legal details...
I’m not sure, but there is a lot of questioning about whether he is even eligible to run for the office because he has not lived in Chicago for the past two years.
My question is, when you’ve scammed $Multi-MILLIONS off of Fannie/Freddie and so attached to Chicago and your Chicago butt buddies, why would you rent out your property anyway? And if you even thought you may want to run for office out of (Senator) or in Chicago (Mayor) you would need to have it as your permanent residence or homestead established in the first place. He was living in digs in DC provided by some rich banker anyway.
So I’m assuming that some kind of sweet deal was made with the renter as some kind of payback for something in the first place. The whole place is a den of thieves, so there’s more to the story than is being revealed by either party here.
“
Testimony: Emanuel’s Renters Wanted $100,000 to End Lease Early
“
Finally.
A Chicago Democrat that doesn’t really get the concept of needing
to pay a bribe.
(/SARC)
How did Emanuel make his money? The old fashioned way: by trading upon the government contacts that he made.
After leaving the Clinton Administration, Emanuel, with no previous business background, set himself up as an investment consultant and merger broker. When the local telephone company was sold, Emanuel and others, allegedly including former Commerce Secretary William Daley (brother of the Chicago mayor), scored millions in commissions and fees for helping to facilitate the deal. Allegedly, Rahm received close to $18 million.
This was the source of Rahm Emanuel’s personal wealth. Of course, he has a father and a brother who are doctors, plus the agent brother in Hollywood.
It begs the question why he was arguing over paying pennies to his tenants to cancel the remainder of their lease. His tightwad ways may cost him the prize that he covets.
The F.E.C. rules may not be in play here. It is a local race and is governed by Illinois campaign finance laws (unless funds from a Federal PAC were possibly transferred to a state committee).
Because he realized that he had a serious problem with the residency issue as a potential candidate. Rahm wanted to move back into the building quickly and then advance the pretext that he had never abandoned his residence in Illinois. Even if the tenants moved out last Septembet that would still be problematic since Emanuel needed to argue that he was a legal resident dating back to February.
Plenty of less sophisticated politicans have mastered the fine details of maintaining a legal residence solely for election purposes even if they spend 99% of their time somewhere else. Some maintain one bed room apartments or condo units.
Rahm’s cheapskate approach to life put him in this fix.
Excellent!
This is a hoot. Rahm feels that offering them 5000 a month when his rent is 4500 a month is an ‘offer’.
Hahaha.
If I were the tenant I’d tell him to shove it. I’m not going to get 500 bucks for ‘relocation’ expenses. First time I’ve ever seen a lease screws the landlord over not the tenant. The whole point of extended leases is to provide some stability for the owner.
You know that they are going to cook the election and Rham will win. There were 4 or 5 people including Jackson that have already backed off the ballot.
He and his tutu will be moving in the City Mansion soon.
Wrong city: New York has a mansion set aside for its mayor, but Chicago mayors need to find their own places of abode. Rahm may still be working with realtors.
Ahh, thanks for enlightening me ... I didn’t realize that. So Rham may well have to find a Realtor to get him a stately home?
REZKO perhaps??
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.