‘’If I were a stockholder in these big retail companies, I would be screaming bloody murder.’’
But the stockholders don’t seem to care. The price of Nordstrom’s stock went down a mere 18 cents today even with the Chicago protests going viral all over the media.
But Nordstrom’s will survive. It’s Chicago that people should be worried about. What investor in his or her right mind will continue to buy Chicago’s municipal bonds now? In fact, what investor in his or her right mind won’t sell
whatever Chicago bonds they might already have in their possession?
Chicago is already on the edge of bankruptcy. If Mayor Emanuel doesn’t care about his city’s retail owners and the right of his citizens to buy Christmas presents freely, shouldn’t he at least care about the teachers and other municipal workers whom he’ll have to lay off when the city inevitably goes bust?