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Definitely not. If they actually move, 100% they will go to Miami
I can tell you just some of the high profile departures from Chicago in the past ten years -
•. Citadel
•. Caterpillar
•. Boeing
•. huge part of Tyson Foods
•. Tenneco
•. Ferrara Candy
Those who have moves significant operations -
•. United Airlines
•. Walgreens
Those threatening ti look elsewhere -
• McDonalds
Common reasons for leaving -
•. High corporate and property taxes
•. Pension liabilities and state budget problems
• Crime , especially in Chicago
•. Political uncertainty
•. Unfriendly business policies
•. Better incentives and regulatory climate in states
So, yeah, companies move. And the executives and their money move with them. A crazy, socialist approach will only backfire
Moving headquarters is significant. No longer paying IL income tax. Corp charitable contributions get redirected to TX entities. High paid executives no longer supporting community.
There’s no way anyone can spin it and say it’s not significant
As much as I wish that were true as a hedge fund lawyer here in the city, no one is moving to Chicago
lol… let them leave.
Detroit was caused by mismanaged governance starting in the 1960s, with the election of a succession of mayors who drove much of the middle class and moneyed class away. While many blame the decline of the automobile industry, Ford and GM remained relatively strong in the 1970s, while the city fell apart. The 1967 riots exacerbated the situation and precipitated a decline of businesses operating in the city. Crime shot up, leading many people to feel unsafe. My spouse was born there - their home was robbed in the middle of the night while they were sleeping. What did they do next? Move out, like many others.
They can keep yelling into the void, but rich people will NEVER leave New York City. Even if they retire for warmer places, they will keep their homes in the city as pied-a-terres.
No, they will not. And most of the big companies in NYC have had offices in Chicago for decades. There’s no there there.
No one’s moving anything
BJ is in the exact same socialist camp - only difference is he isn’t smart enough to know what socialism actually means so just thinks higher property taxes, stupid named bills, and more money to the ctu = socialism.
So obviously Chicago isn’t the city they flee to. A flee to Texas seems crazy but possibly realistic as Texas has done a good job pulling companies that have this return to libertarianism attitude
VP 1: When the next natural disaster hits Texas and Gov. Abbott requests emergency help from FEMA (if it’s even still in tact by then), miss me with the waxing on about a “libertarian attitude.”
I mean our mayor is about as socialist as he would be so probably not.
They are all just waiting for an excuse to go to Miami. They are hoping the election will finally provide the cover.