Industry sources report one of Chicago’s largest money management firms could soon move their Illinois headquarters to Florida. Guggenheim Partners would be the sixth large company and second investment firm to move out of Illinois in the past year.
Tyson Foods is relocating 500 employees from Chicago and Downers Grove offices to the corporate headquarters in Arkansas. The meat processor is the sixth company to leave Illinois this year.
FTX CEO Sam Bankman-Fried announced the cryptocurrency exchange is moving its U.S. headquarters to Miami. It’s the fifth major company to relocate its headquarters out of Illinois this year.
A poll found most nonunion respondents were not interested in joining organized labor, reporting higher levels of job satisfaction and engagement than their union counterparts. One in 4 union members reported being “actively disengaged” at work.
One of the state’s biggest employers is relocating their headquarters to Irving, Texas. A decade ago Caterpillar’s CEO warned state leaders of business losses unless they balanced the budget, controlled workers’ comp costs and cut taxes. He was ignored.
With an abundance of freight lines and roadways, along with a reliable power grid, Illinois placed No. 1 in the U.S. for infrastructure. But state finances are a threat, and political pork needs to give way to projects that move the most people and goods.
Two decades of fiscal mismanagement have left state finances ill-prepared for the COVID-19 pandemic. Congress should condition any additional aid for troubled states on taxpayer protections that ensure pensions are solvent, accounting is realistic and budgets are balanced.
The former leader of a wealthy school district is receiving a massive pension boosted by a pair of 20% raises given during her final two years. Illinois needs pension reform.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.