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Boeing Co., a leading defense contractor and one of the world’s two dominant manufacturers of airline planes, announced Thursday it is moving its global headquarters from Chicago to Virginia.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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“Just before Sept. 11, 2001 terrorist attacks, the company was showered with $60 million in tax incentives to come to Illinois from Seattle, its home for 85 years. Chicago was in competition with Denver and Dallas.”
https://www.cities929.com/2022/05/06/despite-getting-tax-incentives-from-chicago-and-the-state-boeing-is-leaving-illinois/
How much did Illinois taxpayers give to Boeing to move there from Washington State?
Fun days ahead watching Illinois implode…and the voters that voted for it
Boeing should have been disqualified as a company after the two 737 MAX crashes.
Criminal what Boeing did, and what they got away with, backed by our completely lawless and corrupted Establishment.
My heart bleeds for the relatives of those two flights. Justice was never ever served.
They only got off because they are American; with politicians bought & paid for by corporate money.
I personally hope and believe Boeing goes away for good, some day, somehow.
The epitome of what is wrong with this world today.
I don’t recall Chicago news ever mention Boeing
They know their bread is buttered in the swamp. Gettin’ all up it in now.
Not on President Trumps watch
https://www.cnbc.com/2022/04/27/boeing-lost-billion-dollars-on-trump-air-force-one-plane-deal.html
Nothing (almost it seems) but the worst stuff coming from Chicago-Illinois. Rampant political mismanagement (#1-2 in overall tax burden; #1-2 in political corruption; #51, behind Puerto Rico in fiscal condition; massive “catch and release crime”; and “owned” by the public unions)
….what Mr. Calhoun did not mention, I believe, is that it was bad for Boeing’s brand to be affiliated with Chicago-Illinois. Just like how we feel embarrassed saying we are from Illinois-Chicago ….given the decades of across the board (dems and republicans) political malfeasance.
Ps Recommend you disregard any smoke from our politicians that Boeing’s action is not a big deal…..it is a big deal …the canary in the coal mine…..especially to non public union taxpayers who do not have guaranteed (ie by the value of your home) lavish retirement benefits which are not diminished by inflation or stock market declines (ie like 401ks)…
I see your point but Boeing was never really here, the Chicago HQ was a central meeting room. DC is always where the action was. I say good riddance. Boeing is everything wrong with 21st century American business. And frankly after the Max scandal they deserve to be broken up and scattered to the wind and few C-Suit execs put in prison.
Crime, taxes, traffic, woke nonsense and weather are all ok. There just isn’t enough equity in Chicago
Boeing moved to Chicago with the thought it needed to be in a major financial center. The fact that it was centrally located was a plus as well. Of course, Boeing came to understand that Chicago is no longer a major financial center, and there was very little advantage for 500 employees to be in downtown Chicago. The decision point had to be accelerated with the increasing crime in the Loop, a factor which was likely turning headquarters into little more than a temporary meeting room, with difficulties to get people commuting. Going home on the 7pm train to Northbrook… Read more »
For some reason I believe this may just be the start of things
Hmmm…..sounds racist! Systemic, not just regular racism! It’s safe to leave! Whole Foods jumped and no one has been killed.