DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Illinois: Tax lies and the big business liars who tell them (CME Group isn't leaving)

**Blolover11** · 07-29-2011, 04:55 AM

Illinois is just as hostile towards business as it's adopted son, Barack Hussein Obama.

http://www.chicagotribune.com/busine...,6322503.story

CME Group calls tax situation 'untenable;' says it may exit state

Reuters

10:53 a.m. CDT, July 28, 2011

CME Group Inc. is evaluating whether to move some operations to other states from Chicago to reduce its taxes, but it has not decided on an exact timeline, CEO Craig Donohue said Thursday.

"Our tax situation is untenable," Donohue told Reuters, noting that CME is taxed more heavily than any of its global competitors. The company is talking with at least three states -- Texas, Florida and Tennessee -- about relocating some of its business to take advantage of lower tax rates there, Donohue said.

Texas CME has been based in Chicago since the founding of its oldest market, the Chicago Board of Trade, in 1848.

CME has no specific time frame for moving, Donohue said, and does not plan to shut its Chicago-based trading floor. But he said the possibility of moving other operations is real.

"I don't think CME group is different from other companies" that relocate to more "hospitable" business environments, he said.

07-29-2011, 04:55 AM	#1
Blolover11 Join Date Oct 2005 Posts 516 Senior Member	Illinois: Tax lies and the big business liars who tell them (CME Group isn't leaving) Illinois is just as hostile towards business as it's adopted son, Barack Hussein Obama. http://www.chicagotribune.com/busine...,6322503.story CME Group calls tax situation 'untenable;' says it may exit state Reuters 10:53 a.m. CDT, July 28, 2011 CME Group Inc. is evaluating whether to move some operations to other states from Chicago to reduce its taxes, but it has not decided on an exact timeline, CEO Craig Donohue said Thursday. "Our tax situation is untenable," Donohue told Reuters, noting that CME is taxed more heavily than any of its global competitors. The company is talking with at least three states -- Texas, Florida and Tennessee -- about relocating some of its business to take advantage of lower tax rates there, Donohue said. Texas CME has been based in Chicago since the founding of its oldest market, the Chicago Board of Trade, in 1848. CME has no specific time frame for moving, Donohue said, and does not plan to shut its Chicago-based trading floor. But he said the possibility of moving other operations is real. "I don't think CME group is different from other companies" that relocate to more "hospitable" business environments, he said.
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