Companies exit from Chicago

 Daily Caller:

Several massive corporations are moving out of Chicago amid the city’s long-running struggle with violent crime.

Tyson Foods announced its plan Wednesday to exit Chicago for Arkansas, joining a string of large companies leaving the Windy City in the past year. The corporate exodus coincides with rising crime rates over the past two years.

Chicago saw a 40% increase in crime from 2021 to 2022, including a 56% increase in sexual assault reports, a 15% increase in robberies, a 52% increase in thefts and a 132% increase in motor vehicle thefts. Last weekend alone, 34 people were shot in Chicago; in several other weekends this year the number has been higher than 50.

Boeing, a global aerospace company that produces airplanes and defense-related products, announced plans to move its headquarters from Chicago to Arlington, Virginia May 5, though the company will maintain a presence in Chicago. Caterpillar announced plans to relocate its headquarters from Chicago to Irving, Texas the following month.

“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” Chairman and CEO Jim Umpleby said in a press release. (RELATED: Desperate Blue City To Hire Civilians Amid Police Shortage, Violent Crime Spike)
...

Citadel, a $51 billion hedge fund, announced plans to move its headquarters from Chicago to Miami in June. United Airlines announced plans to relocate nearly 1,000 employees out of Chicago in December 2021.

While most of the corporations didn’t mention crime when announcing their plans to leave, McDonald’s CEO Chris Kempczinski raised eyebrows for a recent speech about the crisis of crime in Chicago, where the corporation’s headquarters are located. He pointed to drug abuse, violent crime and homelessness as business challenges that made it difficult for companies to attract talent.
...

Chicago is a poorly run city and it should expect to see more exits unless it gets its crime under control. 

Comments

Post a Comment

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

Washington Post: Some Democrats eye adding more justices to the Supreme Court to change its ideological bent The once-remote idea has gained the attention of liberals angered by the GOP push to remake the federal courts. Probably the easy way to defeat this court-packing scheme is for Trump to propose doing the same thing now.  It would lead to Democrat denunciations and claims that it would be wrong, thereby blowing up any attempt by them in the unfortunate event of Democrats winning a presidential election.
Read more

29 % of companies say they are unlikely to keep insurance after Obamacare

Conn Carroll: A new survey of 368 midsize to large companies found that 29% of them are considering terminating their active employee health care plans when Obamacare is full implemented in 2014. Only 71% of employers surveyed said they did not expect to drop their health coverage, while 20% said they did not know and 9% said they were planning to exit. The latest survey, conducted by Towers Watson, echoes an ealier survey by McKinsey & Co. finding that 30% of private-sector employers were planning to drop their employee health insurance coverage by 2014. When the Congressional Budget Office crunched Obamacare's spending numbers, they estimated that only 7% of employees currently covered by employer-sponsored plans would lose their plans. ... This means the cost of the health care fiasco will be hundreds of billions more than estimated by the CBO and Congressional Democrat. It is also clear that Obama's pledge that you could keep your health care plan if you wanted t
Read more