Illinois is losing business, again

It's been a while since I last barked up this tree. But Gov. Pat Quinn, D, and the Democratic legislature, with their last-minute lame-duck tax increase, have managed to do something that even the Great Chicago Fire couldn't accomplish: Drive the company that runs the Chicago Board of Trade out of Chicago.

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.up Q2 profit rises, vows lower expenses

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

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