PanamaTimes

Saturday, May 31, 2025

Lightfoot’s mayoral loss follows corporate exodus from Chicago led by Boeing, Citadel, Tyson Foods

Lightfoot’s mayoral loss follows corporate exodus from Chicago led by Boeing, Citadel, Tyson Foods

McDonald's CEO was vocal about impact of crime on businesses in city

Chicago Mayor Lori Lightfoot became the first mayor of the Windy City to lose reelection in 40 years when she was defeated in Tuesday’s primary, and an exodus of major corporations from the Chicago area preceded her electoral defeat amid surging crime.

Lightfoot was elected mayor in 2019, and her tenure grew controversial as crime rose during the pandemic. In 2021, murders in Chicago reached their highest level in 25 years, outpacing other crime-ridden cities like New York City and Los Angeles.

While homicides ebbed last year, other crimes continued to rise. Lightfoot sparred with the city’s law enforcement over a variety of issues and her failure to address the increase in violent crime prompted many corporations to relocate their headquarters out of the Chicago area.

Chicago Mayor Lori Lightfoot became the city's first mayor in 40 years to lose reelection following a rise in crime that spurred an exodus of major corporations from the Windy City.


Boeing became the first major corporation to head for the exits when it announced in May 2022 that it would move its global headquarters from Chicago, where it had been located since 2001, and establish a new headquarters for its defense, space and security operations in Arlington, Virginia.

Caterpillar followed suit a month later, announcing it would move its global headquarters from the Chicago suburb of Deerfield, Illinois, to Irving, Texas.

Billionaire Ken Griffin announced last June that he would move his hedge fund, Citadel, from Chicago to Miami. Rising crime rates in Chicago reportedly played a role in Griffin’s decision. Griffin’s letter announcing the move said that while the city "will continue to be important to the future of Citadel," he noted, "Over the past year, however, many of our Chicago teams have asked to relocate to Miami, New York and our other offices around the world."

Police officers detain a man who was found inside a Best Buy store after parts of the city saw widespread looting and vandalism, Aug. 10, 2020, in Chicago.


In April 2022, two months before he announced the move, Griffin told the Wall Street Journal, "I’ve had multiple colleagues mugged at gunpoint. I’ve had a colleague stabbed on the way to work. Countless issues of burglary. I mean, that’s a really difficult backdrop with which to draw talent to your city from."

Last September, McDonald’s CEO Chris Kempczinski said the fast food giant was facing challenges in recruiting top talent to work in its headquarters in Chicago despite relocating some workers from the suburb of Romeoville into the city.

Griffin told WSJ: "I’ve had multiple colleagues mugged at gunpoint. I’ve had a colleague stabbed on the way to work. Countless issues of burglary. I mean, that’s a really difficult backdrop with which to draw talent to your city from."


He said that it was time to "face facts" about the impact of crime on the city’s economy and noted, "The fact is that there are fewer large companies headquartered in Chicago this year than last year. There are fewer this month than last month."

Lightfoot fired back, "I think what would have been helpful is for the McDonald’s CEO to educate himself before he spoke."


The list of companies leaving Chicago grew further in October 2022 when Tyson Foods announced that it would move all of its corporate teams to its headquarters in Springdale, Arkansas. Tyson gained its Chicago facility when it acquired Jimmy Dean sausage maker Hillshire Brands in 2014 and used the location to run its prepared foods business.

Chicago will hold a runoff election for mayor on April 4. Voters will choose between former Chicago Public Schools CEO Paul Vallas and Cook County Commissioner Brandon Johnson.

Comments

Oh ya 2 year ago
Ah the thing from Beetlejuice lost its job

Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Bangkok Ranked World's Top City for Remote Work in 2025
Denmark Increases Retirement Age to 70, Setting a European Precedent
Netanyahu Accuses Western Leaders of 'Emboldening Hamas'
Escalating Trade Tensions and Market Reactions
OnlyFans Reportedly in Talks for $8 Billion Sale
JBS Gains Shareholder Approval for U.S. Stock Listing
Booz Allen Hamilton to Cut 2,500 Jobs Amid Federal Spending Reductions
Trump Signs Executive Orders to Accelerate Nuclear Energy Development
Harvard Temporarily Blocks Trump Administration's International Student Ban
Nippon Steel Forms Partnership with U.S. Steel, Headquarters to Remain in Pittsburgh
Trump Expands Tariff Threats to Apple and Samsung Devices
Oracle and OpenAI Plan $40 Billion Nvidia Chip Purchase for AI Data Center
Trump Threatens 50% Tariff on EU Goods, Markets React
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Former FBI Director James Comey Questioned by Secret Service Over Social Media Post
Mexican Influencer Valeria Márquez Killed During Livestream in Suspected Femicide
CIA Files Reveal Klaus Barbie's Role in Bolivian Drug Trade and Dictatorship Support
Daughter of crypto boss escapes Paris kidnap in latest in series of attacks
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Quantum Computing Threatens Bitcoin Security
Historic Papal Conclave Set to Commence in Rome
Huge Copper, Gold, and Silver Discovery in Argentina and Chile — But the Profits Go Abroad
Trump Rules Out Third Term, Names JD Vance and Marco Rubio as Potential Successors
Mexico Says ‘No’ to U.S. Troops: President Sheinbaum Rejects Trump’s Offer to Fight Cartels
Trump Shares AI-Generated Image of Himself as… Pope, Prompting Outrage Reaction
Amazon Launches Satellite Internet Service Amidst Competition with SpaceX
Transformative Changes in Women's Wrestling: The Rise of WWE Superstars
Brazilian Woman Jailed for Fourteen Years for Writing “You Lost, Idiot” on Statue During Protest
U.S. Economy Shrink in Trump’s First Quarter as Tariff Policy Raises Questions
Carney Secures Liberal Mandate in Canada’s Federal Election
Liverpool Clinches Record-Equalling 20th English League Title Under Arne Slot
Driver Ploughs into Vancouver Festival Crowd, Killing Nine
Depression, Fear of Defamation, and a Tragic End: New Details on Virginia Giuffre’s Suicide
Specialized anti-drone weapons deployed among security personnel Ahead of Papal Funeral
How do you fix this culture?
Corrupted from Within: How Deep State Power and Unelected Judges Hijacked Democracy Against the Will of the People
World Leaders Gather in Rome for Pope Francis's Funeral
Milwaukee Judge Arrested on Allegations of Aiding Undocumented Immigrant’s Escape
Pope Francis: head of the Catholic church who pushed for social and economic justice
Cultural Battles in the Vatican: The Candidates in the Battle for the Holy See and Pope Francis's Testament
Global Leaders Pay Tribute to Pope Francis Following His Death
Wild Chimpanzees Observed Bonding Over Alcoholic Fruit
El Salvador Proposes Prisoner Exchange with Venezuela Amid Deportation Controversy
US Government Defends Deportation of Salvadoran National Kilmar Abrego Garcia
A casino in Mexico burns at the hands of cartels
Pope Francis Makes Brief Appearance at Easter Sunday Mass
"Some complain that we put thousands in prison. In reality, we set millions free."
US Judge Blocks Trump Administration's Rapid Deportation Policy
U.S. State Department Raises El Salvador’s Safety Ranking, Making It Safer Than France and Other European Nations
U.S. and Panama Finalize Defense Agreements Amid Canal Access and Chinese Influence Concerns
×