Wednesday, May 29, 2024

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.


Oh ya 1 year ago
Ah the thing from Beetlejuice lost its job


Related Articles

El Salvador's Bitcoin Holdings Reach $350 Million
Teens Forming Friendships with AI Chatbots
WhatsApp Rolls Out Major Redesign
Neuralink's First Brain Implant Experiences Issue
Apple Unveils New iPad Pro with M4 Chip, Misleading AI Claims
OpenAI to Announce Google Search Competitor
Apple Apologizes for Controversial iPad Pro Ad Featuring Instrument Destruction
German politician of the AFD party, Marie-Thérèse Kaiser was just convicted & fined $6,000+
Changpeng Zhao Sentenced to Four Months in Jail
Biden Administration to Relax Marijuana Regulations
101-Year-Old Woman Mistaken for a Baby by American Airlines: Comical Mix-Up during Flight Check-in
King Charles and Camilla enjoying the Inuit voice singing performance in Canada.
New Study: Vaping May Lower Fertility in Women Trying to Get Pregnant
U.S. DOJ Seeks Three-Year Sentence for Binance Founder Changpeng Zhao
Headlines - Thursday, 23 April 2024
Illinois Woman Wins $45M Lawsuit Against Johnson & Johnson and Kenvue for Mesothelioma Linked to Baby Powder
Panama's lates news for Friday, April 19
Creative menu of a Pizza restaurant..
You can be a very successful player, but a player with character is another level!
Experience the Future of Dining: My Visit to an AI-Powered Burger Joint
Stabbing rampage terror attack in Sydney, at least four people killed, early reports that a baby was among those stabbed.
Iran fired more than 300 drones and missiles at Israel overnight. Israel Reports Light Damage After Iran Launches Large Strike.
I will never get enough of his videos and the pure joy and beauty of these women!!
Scientists at the University of Maryland have developed an "invisibility cloak", for AI using adversarial patterns on a sweater, making the wearer nearly undetectable to standard object detection methods.
Lamborghini Bids Farewell to Its Best-Selling Sports Car: The Huracán
Sam Bankman-Fried Appeals 25-Year Prison Sentence for $8bn FTX Fraud
OJ Simpson, ex-NFL star who was acquitted of murder, dies aged 76
British Backpacker Imprisoned in Notorious Bolivian Prison: Family Raises Funds for Legal Fight and Essentials
Argentina: Venezuela Cuts Power to Embassy after Opposition Meeting
El Salvador Offers 5,000 Passports to Skilled Foreign Workers: Tax-Free Relocation and Citizenship
Panama Papers Trial Begins: Founders of Mossack Fonseca Face Money-Laundering Charges
75 Becomes the New 65: Retiring in Your 60s Unrealistic as Life Expectancy Increases and Costs Rise
Total Solar Eclipse of 2021: 32 Million Witness the Mystical, $1.5bn Spectacle Sweep Across North America
New shopping experience…
New world, new reality, let’s get used to it
UK Company Passes Milestone in Developing Space-Based Solar Power, Aiming to Power a Million Homes and Provide Constant Energy
Mexico Breaks Diplomatic Ties with Ecuador after Police Storm Embassy, Arrest Former Vice President
Monty Python were so ahead of their time
If there's a will, there's a way!
Rules about how to dress are important, but not so much if you have a lot of money.
Body Armor Firm Showcases Stab-Proof Vest in Demo on CEO
Mexico Cuts Diplomatic Ties with Ecuador After Embassy Stormed in Quito
Here is a tattoo idea, for engineers
Zoraya Ter Beek, a 28-year-old woman from the Netherlands, will undergo euthanasia in May due to severe mental health challenges
Here's a video featuring Fidel Castro, where he discusses his stance against war and his commitment to preserving life, positions that have put him at odds with the USA:
Woman reaches behind and steals gun from a security guard and shoots three people while getting detained in Chile
Take a walk around the safe and thriving downtown San Salvador.
Joe Biden criticised by Trump campaign for declaring Transgender Day of Visibility on Easter Sunday
Macron says France will help Brazil develop nuclear-powered submarines
A video demonstrating women's self defense class in 1930