Jeff  Carter

There are four circles of Democrats running the show in Illinois. First, there is the governor, Pat Quinn. He is as inept and rudderless as any governor to lead any state ever. He was re-elected by three counties-most of the geography of the state detests him. Then there is the Illinois Senate lead by Democraticcrony capitalistPresident John Cullerton. The Senate decided to vote in a tax break package to keep Sears and the exchanges ($CME, $CBOE) from leaving. The Illinois House is ruled with an iron fist by Democratic Speaker and kingmaker, Mike Madigan, who installed his daughter as Attorney General.

Then of course, there is the new mayor of Chicago, Rahm Emanuel. I give Rahm some kudos so far as mayor because it seems like he is trying to change a few minor things, although the pace is glacial given the urgency of the problems. You might say there is a fifth circle, Toni Preckwinkle of the Cook County Board. County government is yet another site of Democratic crony capitalism and patronage within the state.

The Illinois House voted against the Senate bill.

Illinois can say goodbye to Sears ($SHLD), a company started here when the prairie was being settled. Ohio has offered $400 Million in tax breaks and moving expenses. 6200 jobs gone.  But those aren’t the only jobs.  Lifestyle business jobs are going to be impacted.  Haircutters, Bakers, Groceries, and other small businesses won’t have the same amount of income because 6200 people are moving away.  The state loses much more than just the business and its employees when it leaves.

Illinois Democratic government officials won’t privatize any services, sell off any assets, but they sure do a great job of chasing away private companies!

  • The unions have killed McCormick Place-conventions have fled to Orlando and Las Vegas
  • The exchanges are on the verge of leaving (Florida, Texas, Tennessee, and Indiana seem to be in the running)
  • People have fled the state (Illinois population dropped in consecutive census, 1990, 2000, 2010)
  • Sears is all but gone
  • Jimmy Johns gone
  • Coupon Cabin gone

Jeff Carter

Jeffrey Carter is an independent speculator. He has been trading since 1988. His blog site, Points and Figures was named by Minyanville as one of The 20 Most Influential Blogs in Financial Media.