-- Connecting the dots between our economy, government and business --
A retailer with 5,000 stores across the nation has to be flexible and go where the business is. But there is a revealing pattern. In the suburbs of Chicago, three underperforming stores will close almost simultaneously. The company declined to give specifics to local media, but this is a reminder of the Chicago area's decadelong decline. Its population and tax base have been shrinking for nine straight years. Crime has soared, too, in part because the area is close to adopting universal no-cash bail and making it impossible for police to enforce the law against thieves. Businesses don't like that.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
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The states minimum wage is also a factor. I know of a fortune 100 retailer that will not extend any of their leases, they will only exercise lease options as they come due because of the minimum wage law. High taxes, expensive workmans comp premiums, theft, high minimum wages all cut into the bottom line. Politicians can kick and scream all they want when retailers close their doors but if they’re not making money it’s going to continue.
I could understand Homewood and Lincolnwood closing, but Plainfield was a surprise to me, wow.
Just a sign of what is going to happen. Many other businesses are going to close.
PPF is getting his way, destruction of the free enterprise system in Illinois.
Walmart can see that Illinois is the place not to be
Walmart won’t say why it closed the Homewood store, but theft loss appeared to have been a real factor.