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Sears and CME Group threaten to leave Illinois
CNNMoney ^ | Dec. 06 ,2011 | Charles Riley

Posted on 12/06/2011 5:47:00 PM PST by george76

Without a fresh round of tax incentives, two iconic Illinois companies might soon be on the move.

The companies -- Sears Holdings and CME Group -- are the latest in a series of Illinois firms to threaten departure after the state temporarily raised corporate taxes earlier this year.

Sears Holdings, which has 6,100 employees at its corporate headquarters and operates both K-Mart and Sears stores, is looking for its current package of tax incentives to be extended.

...

The stakes are high. Earlier this year, Caterpillar threatened to leave Illinois, an announcement that sparked something of a relocation competition among neighboring states.

...

Faced with a daunting $13 billion budget deficit earlier this year, state legislators opted to raise personal and corporate income taxes.

Companies now have to pay a 7% corporate tax rate for the next four years, up from the previous 4.8%. And Illinois businesses are already subject to a 2.5% surcharge.

Along with the corporate tax hike, lawmakers raised the personal income tax rate to 5%, up from 3%.

"The state continues to spend more than it takes in," said Laurence Msall, president of the non-partisan Civic Federation. "They've dug a hole so big that even an enormous tax increase hasn't balanced the budget."

(Excerpt) Read more at local10.com ...


TOPICS: Business/Economy; Extended News; Government; News/Current Events; US: Illinois; US: Indiana; US: New York; US: Ohio; US: Wisconsin
KEYWORDS: caterpillar; cme; kmart; sears; searsholdings; taxes
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To: VicVega
Still like visiting Chicago, but wouldn’t want to live there.

If your going to drive on the toll roads, make sure you have plenty of cash on hand. Tolls are doubling at the first of the year. They are really sticking it to visitors that don't have an Ipass. Ipass tolls are doubling, but will still be half as much as cash..

41 posted on 12/07/2011 3:28:55 AM PST by EVO X
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To: Indy Pendance
The poor saps in IL are subjected to the cities of Chicago and St. Louis.

I know you mean East St. Louis, as several people have already corrected you but East St. Louis, Illinois is really an insignificant little slum, population 27,006.

42 posted on 12/07/2011 5:31:12 AM PST by Graybeard58 (Of course Obama loves his country but I want a President who loves mine.)
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To: VicVega; Indy Pendance
"The poor saps in IL are subjected to the cities of Chicago and St. Louis."

~~~~~~~~~~

No problemo...

I figured that both you and I had the same first reaction:

"'St. Louis?' ----- WTF???" '-)

And my second was, "Where did Indy Pendance 'learn' geography?" ;-}

43 posted on 12/07/2011 8:36:29 AM PST by TXnMA ("Allah": Satan's current alias...)
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To: TXnMA
Meanwhile, across the river, in IL....


44 posted on 12/07/2011 8:44:41 AM PST by Justa
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To: Justa

“Hey kids, you noticing all this plight?”

*gunshot* *scream*

“Roll ‘em up!”


45 posted on 12/07/2011 8:46:36 AM PST by dfwgator
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To: george76

Bail out of that liberal Democrat pisspot. Go south.
Better late than never.


46 posted on 12/07/2011 8:52:37 AM PST by Lancey Howard
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To: EVO X

Good to know. Thanks.


47 posted on 12/07/2011 9:53:19 AM PST by VicVega (LSU is without a doubt the #1 team in the nation. GEAUX TIGERS, Geaux Saints)
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To: TXnMA
This is what I was talking about. The entire state went red except for 3 counties.


48 posted on 12/07/2011 7:27:20 PM PST by Indy Pendance
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To: Indy Pendance

Point well made!


49 posted on 12/07/2011 8:40:12 PM PST by TXnMA ("Allah": Satan's current alias...)
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To: Indy Pendance

I don’t know what election that map is from, but in 2010 Quinn (Governorship) and Giannoulias (U.S. Senate) won not only those three counties, (Cook, St. Clair and Alexander), but also Jackson County (which is like halfway between St. Clair and Alexander). See http://uselectionatlas.org/RESULTS/state.php?year=2010&fips=17&f=1&off=5&elect=0 and http://uselectionatlas.org/RESULTS/state.php?year=2010&fips=17&f=1&off=3&elect=0&class=3 (and note that these maps show the Republican counties as blue and the Democrat candidates in Communist red, as God intended).

But, yes, Chicago and East St. Louis usually give the Dems their entire margin in Illinois.


50 posted on 12/08/2011 9:46:34 AM PST by AuH2ORepublican (If a politician won't protect innocent babies, what makes you think that he'll protect your rights?)
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To: AuH2ORepublican
Thanks for the link, I couldn't remember that site as I'm on a different laptop. We here in WI are similar as we have Milwaukee and Madison, but THANK GOD we have an awesome SE WI talk radio market! And our entire state population is less than Metro Chicago.

Don't you get tired of a couple counties deciding your entire elections? I heard an interesting comment the other day, the Mayor of Chicago is more like the Gov of the state. That's really sad. Good luck to you with all the crap you're going through. I don't know if you listen to our Milwaukee talk radio market, 1130 am, lesser; 620 am. The double whammy commie attack sucks. At least NOW we have a fighting chance here. You should see all the Ohio cars I'm seeing here lately.

picture here, from Chicago Now

51 posted on 12/08/2011 2:33:50 PM PST by Indy Pendance
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To: Indy Pendance

I’m not actually from Illinois (and I don’t get WGN anymore, so I don’t even get to watch Chicago’s local news anymore).

A few years ago, I proposed creating a State of Chicagoland (for lack of a better term) that would comprise Cook and Lake Counties in IL, Lake County in IN, and Kenosha, Racine and Milwaukee Counties in WI. The state’s 13 electoral votes would be safely Democrat, and it would elect 2 Democrat Senators and probably have a 10-1 House delegation, but it would make the surrounding states of IN (now with 10 EVs) safely Republican and WI (now with 8 EVs) and IL (now with 12 EVs) comfortably Republican. Republicans would get 30 electoral votes to only 13 for Democrats in the area that is currently comprised by WI, IL and IN (in 2004 Kerry got 31 EVs to Bush’s 11 in the region, and Obama won all 42 EVs in 2008); and Republicans would elect 6 Senators to only 2 for the Dems (the region currently has 4 Republican and 2 Dem Senators, and until last year there were 4 Democrat and 2 Republican Senators). IL and WI would finally be free of the pervasive influence of Chicago and Milwaukee in their states.


52 posted on 12/08/2011 3:41:34 PM PST by AuH2ORepublican (If a politician won't protect innocent babies, what makes you think that he'll protect your rights?)
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To: Indy Pendance

Forgot to mention, that map you posted was from a Nov. 9, 2010 article; Dave Leip got his info when he searche the Illinois State Board of Elections (http://www.elections.state.il.us/) on December 3, 2010, and I guess that absentee votes or something put Quinn over the top in Jackson County (which he only carried by 1.01%).


53 posted on 12/08/2011 3:47:27 PM PST by AuH2ORepublican (If a politician won't protect innocent babies, what makes you think that he'll protect your rights?)
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To: AuH2ORepublican

You know we’ll never create a new state. The UP has been trying for years. 57 states is a good round number. You’re proposal is interesting. IL and WI are solid conservative states, we’re battling the cities.


54 posted on 12/08/2011 4:24:44 PM PST by Indy Pendance
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To: george76

One word: Tennessee!

Plenty of cheap land, lots of skilled workers, low taxes, no state income tax, great cost of living.

Democrats are outnumbered too!


55 posted on 12/08/2011 4:31:21 PM PST by Fledermaus (I'll vote for Mitt Romney when Hell freezes over. He's as bad or worse than Zero.)
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To: AuH2ORepublican

What’s interesting is, the cities are losing population. We’ve all moved away. Chicago, Detroit, Milwaukee, et al. We all live elsewhere. I grew up in the city of Milwaukee, went to school, all of it. It’s not just white flight, I see a lot of Hispanics and Blacks living here. They don’t want to live in those crap cities either. I don’t blame them. If they’re law abiding people, more power to them.

I’ll bet you grew up in a city. Cities are not what they were 35 years ago. We ran wild in the cities without a care. When I came back from a couple years in Green Bay and a couple in Cedar Rapids, there was NO WAY I was moving back to my hometown. I now live in the exburb of West Bend.


56 posted on 12/08/2011 4:35:36 PM PST by Indy Pendance
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To: Fledermaus
My daughter LOVED living in TN. Ft. Campbell, Clarksville, and Oak Grove, KY. She HATED the spiders. They've recently transferred to Fort Lewis, WA. They've only been there a couple months, they're still adjusting. See my page for some fun photos.
57 posted on 12/08/2011 4:41:09 PM PST by Indy Pendance
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To: Indy Pendance

The UP has a tiny population (like 300,000), so it could never become a state.

Here’s what I wrote a few years ago about how DC residents should be given the benefits of statehood, but only if they form a state that includes DC and its Democrat suburbs in MD and VA: http://auh2orepublican.blogspot.com/2005/08/fair-and-reasonable-alternative-to-dc.html


58 posted on 12/08/2011 4:46:16 PM PST by AuH2ORepublican (If a politician won't protect innocent babies, what makes you think that he'll protect your rights?)
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To: AuH2ORepublican

You know that will go no where. I highly doubt Puerto Rico will become a state. 51 states doesn’t poll well.

It’s funny, in 2008, my friends and I joked about taking over the UP and making it our own country. It’s not so funny now. Who’d care about the UP?


59 posted on 12/08/2011 4:58:20 PM PST by Indy Pendance
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To: Indy Pendance

Those are AWESOME pics. Give her my best and a big THANK YOU!


60 posted on 12/09/2011 2:43:33 PM PST by Fledermaus (I'll vote for Mitt Romney when Hell freezes over. He's as bad or worse than Zero.)
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