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One More Major Blow to Illinois - Caterpillar considers leaving ILLINOIS!

By Larry Bettag

Mortgage and Lending with Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 NMLS ID# 158606

March 26, 2011 04:54 PM

So, in today's news, Caterpillar C.E.O., Doug Oberhelman writes....

"I want to stay here. But as the leader of this business, I have to do what's right for Caterpillar...The direction that this state is headed in is not favorable to business."

Of course, I've been blogging about this for a long time. Tw Caterpillar to Leave Illinois? o recent posts that I've written are:

ILLINOIS PLAYS RUSSIAN ROULETTE AGAIN - 2 MORE TAXES THIS WEEK!, and

Illinois & Quinn Make it official! More Taxes for everyone!

My wife and I lived across the "Cat" plant in Montgomery, Illinois when we first got married. They're a staple in Illinois. This would cost Illnois roughly 4,000 jobs. As ABC news says, this comes after Governor Quinn signs into law a roughly 67% state income tax hike on both companies and individuals! This letter was not meant for the public, but the CEO, says that he's being wined and dined by many states. In truth, I can't get in the car without hearing some recruting pitch for companies in Illinois by other states.

I know a number of people who have taken themselves and their businesses and moved out of state. It's all because Quinn isn't smart enough to attract new businesses and he can't stand up to the unions. I have to be honest.....for the first time in my life (I've been here my entire life), I'm looking at options for selling my home and moving out of state myself. I"m not going to shoulder the burden for all of Quinn's programs.

A lot of employers have left and there's a lot of others considering leaving us! It's horrible. Quinn says that "Cats" not going to leave us. Why would they?" Hello?????? All I can think of is that movie....

Dumb and Dumber!

So Stupid and so costly!

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Carolyn Kolba

Serving Mentor, and all of Lake County, Ohio - Mentor, OH

Keller Williams Realty- Mentor, Ohio

Larry, that would be just awful. I surely hope Caterpillar reconsiders and stays in your area. Much too many jobs to lose.

Mar 26, 2011 04:56 PM

Pam Miller

Realty Associates - Conroe, TX

Broker Associate - Water Crest on Lake Conroe

Oh, that is terrible. My sister lives in Crystal Lake. High taxes are hurting a lot of companies!

Mar 26, 2011 05:06 PM

Lenn Harley

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA

Real Estate Broker - Virginia & Maryland

The growth of "Right To Work" states should tell the governments of the heavily unionized state something. Sadly, the unions already have the government officials and employees that run the state government in their pockets. They act like there is only today and no tomorrow. Sooner or later, union wages and benifits will kill the economy of any state. Illinois didn't learn anything from the automobile manufacturing debacle. Of course, they got by with a little help from the rest of the country, thanks to Washington.

Mar 26, 2011 11:32 PM

Cindy Edwards

RE/MAX Checkmate - Johnson City, TN

CRS, GRI, PMN - Northeast Tennessee 423-677-6677

That is a sad thing to hear. And we are hearing too much these days.

Mar 27, 2011 12:02 AM

Wayne Martin

Wayne M Martin - Chicago, IL

Real Estate Broker - Retired

Never thought it would get this bad. Lived in Illinois all my life until the sunny warmth of Southwest Florida drew me away. My grown son lives in Chicago and my wife and I were thinking about going back. The financial situation in Illinois has us rethinking that idea. Good luck in your decision!

Mar 27, 2011 01:45 AM

Kevin Robinson

Twin Falls, ID

Fractional Developer

Larry- I can relate. My wife and I both grew up in CA. We built businesses there and still have many friends and family there. I spent many great summers hiking and playing all over that state and know it like the back of my hand. But, it was overrun with libs who have it so screwed up now that I cannot even stand to visit. The list of problems is huge.

On the other hand, when we did move to Idaho, we made a whole long list of great new friends. We have built our business here and doing pretty good. Our kids love it here and have a better life than they did in CA. They and us can relate to more folks here.

You will know when it is time to go. It will not feel like your home anymore. You will feel like a fish out of water.

Mar 27, 2011 02:59 AM

Kevin Robinson

Twin Falls, ID

Fractional Developer

Congratulations Larry, this blog is now featured in the Tea Party group of AR.

Mar 27, 2011 03:00 AM

Lyn Sims

Schaumburg, IL

Real Estate Broker Retired

I recently heard that Cat won a big contract with oil folks up in Canada. These people are buying serious equipment to keep up with demand so we get our oil & gas from a friendly place - Canada! I think that people don't really realize what percentage comes from there & I think it is best for the U.S. in general to keep these companies running right where they are.

There's been some rumbling about impeaching Quinn & maybe it's time to check that out?

Mar 27, 2011 03:11 AM

Joan Cox

House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO

Denver Real Estate - Selling One Home at a Time

Larry, it is tough when large companies pull out of a City, and hope another company replaces them!

Mar 27, 2011 03:11 AM

Larry Bettag

Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL

Vice-President of National Production

Thanks for all the comments. What amazes me most is that Quinn, our governor, takes more and more actions to actually drive businesses out. Simply amazing!

Mar 27, 2011 05:49 AM

Yolanda Hoversten

Self Employed - O'Fallon, IL

Referrals for O’Fallon, IL & the Metro East

Larry, with litigations filing and the high taxes, we don't seem to get a break. I hope voters get smarter next time around.

Mar 27, 2011 10:08 AM

Kim Sellers

Lake Arrowhead, CA Coldwell Banker - Lake Arrowhead, CA

Lake Arrowhead Realtor - BRE#01412099 - Lake Arrow

Talk about cutting off your own nose. The state better wake up or they will see exactly what California saw when they ran hundreds and hundreds of businesses out of our state because of our taxes, including the movie industry!

Mar 27, 2011 10:43 AM

Mike Saunders

Retired - Athens, GA

Larry - that is terrible news for Illinois, but welcome for some state or states when Caterpillar moves. Hopefully, legislatures such as Illinois's will see the folly of regressive, repressive and oppressive tax systems, but, it appears that some people refuse to learn from history.

Mar 28, 2011 02:09 AM

Kevin Robinson

Twin Falls, ID

Fractional Developer

Larry- Maybe you guys can elect Jerry Brown after CA gets done with him.

Mar 30, 2011 02:03 AM

Dale Terry

Yadkinville, NC

Larry in the end, your state is doomed. CAT and others will leave, it is in their best interests and also yours. The liberals don't get it, they can keep CAT by lowering expenses on giveaway programs and keep taxes in lines. But they refuse to cut programs and are willing to go down with the ship.

Mar 30, 2011 02:42 AM

Dale Terry

Yadkinville, NC

Mar 30, 2011 02:42 AM

Wallace S. Gibson, CPM

Gibson Management Group, Ltd. - Charlottesville, VA

LandlordWhisperer

I understand VA Gov McDonnell has already been in touch....the NASCAR Driver of the RCE #31 Cat Chevrolet is South Boston, VA's OWN Jeff Burton! AND, Virginia is the LAST right to work state going up Rt81

Mar 30, 2011 11:07 PM