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CME Group is prepared to leave Chicago if the city and state take steps that are perceived as “ill-conceived,” Chief Executive Officer Terry Duffy said in an interview. Duffy’s remarks, made in an episode of the Odd Lots podcast, come as Mayor Brandon Johnson is being sworn into office after proposing additional taxes, including one on financial transactions, to help boost the city’s revenue. That plan was fiercely opposed by Chicago’s exchanges and investment firms. A higher levy would also require state approval to pass.
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Summary and audio linked here.
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Audio and summary
Last one out please turn off the lights (If there are any left) Thank you!
Chicago turning into Detroit Very soon.
Good for Duffy for finally speaking out tough. I wish some of the other so called “business leaders” in Chicago would do the same. I just hope he is serious about the threat– which I think he is given the conversion to electronic trading that has occurred over the last decade. And, Hey, Mr. Mayor, you better wake up because every state in the union will be chasing that exchange if Duffy is serious.
LOL BJ doesn’t see Duffy’s remarks as a threat, but rather, a challenge. Now BJ most certainly will take steps to pass the transaction tax. BJ isn’t going to let some rich white tell him what to do. Heck, several hundred thousand ballots were counted in BJ’s favor, not Duffy’s favor, so BJ is the king of this town. The communist destroys, that’s all they know, so of course they will completely decimate Chicago’s financial markets. After CME leaves, it’s straight downhill after that, with McDonalds likely being the next to go.