Post by New Mama on Aug 6, 2012 12:14:20 GMT -6
Illinois and Chicago businesses in particular have always appeared to be totally in Obama's corner regardless of the Rev. Wright, Tony Resco or his Bill Ayres ties. This article was in Chicago's premier business magazine today. I found this a little surprising. I knew Romney was beating Obama in campaign contributions since May but I would have never thought that it would apply to Chicago big businesses and financial powers here.
Scores of Chicago executives who previously backed President Barack Obama are keeping their wallets closed or opening them only for Mitt Romney this time around.
Last time, the financial sector put $42 million into the Obama campaign, $11 million more than Mr. McCain raised. This time, Mr. Romney is outdoing him $25.2 million to $10.9 million, according to the Center for Responsive Politics.
Citadel LLC CEO Kenneth Griffin, who declines to comment, is a prime example: In 2008 the hedge-fund billionaire was a “bundler” for the Obama campaign, raising more than $200,000. This year, the Romney campaign has picked up almost $83,000 from 40 Citadel employees, while only a single $5,000 contribution has gone to the Obama Victory Fund.
At Kirkland & Ellis LLP, a national fundraising powerhouse, the 2008 Obama campaign pulled in nearly $187,000 while Mr. McCain got $25,300; thus far, the Chicago-based law firm has raised $134,665 for Mr. Romney and $43,977 for the president's campaign.
Nonetheless, from CEOs to car dealers, at least 120 large Chicago-area contributors to the 2008 Obama campaign have switched support to his opponent.
“In 2008, I had precisely the same motivation everyone in the country felt” as Obama backers, says Susan Crown, a vice president of Chicago's Henry Crown & Co., who is a director at Northern Trust Co. and chairman of the executive committee at Illinois Tool Works Inc. “Hope and ch-ch-change and future and excitement. He's a very smart guy, very charismatic, articulate—the energy was great. Unfortunately, all those things turned to broken promises.”
Ms. Crown, who has hosted three Romney fundraisers totaling more than $5.5 million with her husband, William Kunkler, also an executive at the family holding company. “Businesses are holding on to cash and not investing because they're uncertain about what the future holds.”
Read more: www.chicagobusiness.com/article/20120804/ISSUE01/308049973/big-names-in-business-close-wallets-to-obama-this-time#ixzz22n4H423Q
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Last time, the financial sector put $42 million into the Obama campaign, $11 million more than Mr. McCain raised. This time, Mr. Romney is outdoing him $25.2 million to $10.9 million, according to the Center for Responsive Politics.
Citadel LLC CEO Kenneth Griffin, who declines to comment, is a prime example: In 2008 the hedge-fund billionaire was a “bundler” for the Obama campaign, raising more than $200,000. This year, the Romney campaign has picked up almost $83,000 from 40 Citadel employees, while only a single $5,000 contribution has gone to the Obama Victory Fund.
At Kirkland & Ellis LLP, a national fundraising powerhouse, the 2008 Obama campaign pulled in nearly $187,000 while Mr. McCain got $25,300; thus far, the Chicago-based law firm has raised $134,665 for Mr. Romney and $43,977 for the president's campaign.
Nonetheless, from CEOs to car dealers, at least 120 large Chicago-area contributors to the 2008 Obama campaign have switched support to his opponent.
“In 2008, I had precisely the same motivation everyone in the country felt” as Obama backers, says Susan Crown, a vice president of Chicago's Henry Crown & Co., who is a director at Northern Trust Co. and chairman of the executive committee at Illinois Tool Works Inc. “Hope and ch-ch-change and future and excitement. He's a very smart guy, very charismatic, articulate—the energy was great. Unfortunately, all those things turned to broken promises.”
Ms. Crown, who has hosted three Romney fundraisers totaling more than $5.5 million with her husband, William Kunkler, also an executive at the family holding company. “Businesses are holding on to cash and not investing because they're uncertain about what the future holds.”
Read more: www.chicagobusiness.com/article/20120804/ISSUE01/308049973/big-names-in-business-close-wallets-to-obama-this-time#ixzz22n4H423Q
Stay on top of Chicago business with our free daily e-newsletters
