Boeing

End the crony slush fund that is the Ex-Im Bank

By Bryant Jackson-Green
07/14/2014
An important debate about the future of the Export-Import Bank of the United States is raging in Congress and in the media. The House Financial Services Committee held a hearing last month to ask if the bank was “corporate necessity or corporate welfare?” The Ex-Im Bank originated as a New Deal-era program, financing loans to...

Illinois corruption watch, June 2014

By Brian Costin, Anthony Trania
07/09/2014
Unfortunately for taxpayers, June was a groundbreaking month for corruption in Illinois. In June alone, there were reports of 85 corruption-related stories in the state. Some of the record-breaking highlights include the following: For the first time in 33 years, the Illinois Legislative Audit Commission exercised its subpoena powers in the issuance of a subpoena...

ADM relocates to Chicago – without state tax incentives

By Michael Lucci
12/19/2013
Archer Daniels Midland, an Illinois-based agribusiness giant, announced today that it will move the company’s global headquarters from Decatur, Ill., to Chicago, despite a tax incentive bill worth $30 million to ADM being stalled in the Illinois General Assembly. The decision keeps 60 to 75 executive-level jobs in Illinois, and comes a week after Office...

TAGS: Archer Daniels Midland, Chicago, cronyism, taxes

Boeing latest Fortune 100 company to offer 401(k) retirement plans

By Paul Kersey
11/14/2013
The International Association of Machinists rejected an eight-year contract offer from Boeing Co. yesterday, according to the Chicago Tribune. The contract extension would’ve ensured that production of Boeing’s 777X plane would continue in Washington state – in exchange for several cost-cutting measures, including moving employees to a 401(k)-style retirement plan by 2016. If all had...

TAGS: 401(k)

Illinois and Chicago’s pattern of cronyism and corporate handouts

By Justin Hegy
09/17/2013
Instead of creating a business-friendly environment by keeping taxes and regulations low, Illinois state government and the city of Chicago have a laundry list of special tools they claim promote economic development. These tools include: tax increment financing, or TIF, districts; economic grants; and a series of loopholes in the tax code. When government gives...

TAGS: cronyism

Detroit: A story that must be told

By Ted Dabrowski
08/23/2013
Two weeks ago I took in the demise of Detroit with my own eyes. I was fortunate to be with my colleague, Detroit native Paul Kersey. As we embarked on the trip, he told me “Detroit is a story that must be told.” He was right. I’d seen the pictures and knew the history, but...

TAGS: Detroit

7 in 10 Fortune 100 companies provide only defined contribution, 401(k)-style retirement plans

By Benjamin VanMetre
07/25/2013
Suburban Chicago-based NorthShore University HealthSystem announced last month that it will “will freeze its employee pension plan as of Dec. 31 and shift all employees to a defined contribution savings plan.” The NorthShore hospital system isn’t the only private company making this move — Boeing, American Airlinesand Verizon each dropped their defined benefit plans for defined contribution retirement systems. The core...

Cronyism runs deep in Illinois

By Benjamin VanMetre
12/27/2012
Imagine an Illinois economy so vibrant that companies felt they had to be in Illinois to reach their fullest potential. Imagine a tax environment so competitive that companies across the country battled to get a piece of Illinois real estate. Keep imagining, because this certainly isn’t a reality. The fact is, Illinois ranks 48th in economic...

TAGS: cronyism

2012 Illinois Piglet Book

By Benjamin VanMetre
11/01/2012
In 2011, Illinois increased its state income tax rate by 67 percent. This tax increase, the largest in state history, cost the average family about $1,500 in additional taxes. Across school districts, municipalities and other local levels of government, taxpayers have faced myriad other tax increases – from gas and sales taxes to congestion fees and...