Thursday, January 14, 2016

GE cites pensions and rotten schools as reasons for not choosing Chicago for HQ

Dirksen School, NW Side
Illinois' public worker pension crisis and the abysmal reputation of Chicago's public schools cost the city a major corporation relocation.

From the Chicago Tribune:
Chicago was a finalist to score General Electric's corporate headquarters — and 800 jobs — but the state's pension crisis and the condition of Chicago's public schools helped remove it from the running, sources close to the selection process told the Tribune on Wednesday.

On Wednesday, GE announced it would move its headquarters from its longtime home in Fairfield, Conn., to Boston.

Mayor Rahm Emanuel "did a good job" and "worked hard at presenting the case for Chicago" and Illinois Gov. Bruce Rauner "did a fantastic job," one source said.
Illinois has the lowest credit rating fo the 50 states and Chicago Public School bonds--as well as those of the city--are rated as junk.

The results from CPS classrooms are shameful too.

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