Lightfoot attacks McDonald's CEO as Illinois' former wealthiest man confirms his claims with personal stories



Citadel CEO Ken Griffin revealed this week multiple colleagues became victims of the violent crime that plagues the Windy City, helping spur his departure from the city.

Ironically, Griffin's comments came one day before Mayor Lori Lightfoot (D) condemned McDonald's CEO Chris Kempczinski for raising concern about the impact crime is having on Chicago's business climate.

What did Griffin say?

Griffin captured headlines in June after announcing he was moving his hedge fund, which manages more than $50 billion in assets, from Chicago to sunny Miami. Griffin himself is worth roughly $30 billion and was previously Illinois' wealthiest resident.

While it was rumored that Griffin left Chicago because of crime — in fact, just last year, he compared Chicago to Afghanistan "on a good day" — he told Bloomberg in an interview this week two specific stories underscoring the personal impact of the city's crime.

From Bloomberg:

He recall[ed] two stories about Chicago, which he sees devolving into anarchy: One of his senior colleagues was robbed after a person put “a gun to his head” as he was on a coffee run, and another was waiting for a car when confronted by “some random lunatic just trying to punch him in the head.”

Citadel's move is a significant economic boon for Miami.

Not only will Griffin pour money into the local community via his philanthropic efforts, but Citadel is making a significant investment by building a business complex in the city's downtown area. Construction is expected to cost $1 billion.

What did Lightfoot say?

Last week, Kempczinski said Chicago, where McDonald's is headquartered, is experiencing a "crisis."

"Everywhere I go, I’m confronted by the same question. 'What’s going on in Chicago?' There is a general sense out there that our city is in crisis," he said, noting that crime is driving businesses away from Chicago.

Lightfoot was asked about those comments at a press conference this week. She responded by attacking Kempczinski.

"What would have been helpful is for the McDonald’s CEO to educate himself before he spoke," she said, the Chicago Tribune reported.

But Kempczinski is right. Not only has Citadel recently left Chicago, but so have Caterpillar and Boeing. Each of those companies left for states controlled by Republican governors.

McDonald's CEO says Chicago leaders need to face the 'facts' that violent crimes are damaging city: 'Our city is in crisis'



McDonald's CEO Chris Kempczinski warned Wednesday that Chicago is experiencing a "crisis" of violent crime that is driving away businesses.

What did Kempczinski say?

Chicago is home to corporations like McDonald's, Allstate, US Foods, United Airlines, and tons of others. But unless the city solves its crime problem, Kempczinski predicted that fewer businesses will headquarter themselves in the Windy City.

"Everywhere I go, I’m confronted by the same question. 'What’s going on in Chicago?' There is a general sense out there that our city is in crisis," he said during a speech at the Economic Club of Chicago.

McDonald's CEO Chris Kempczinski (Image source: YouTube screenshot)

Kempczinski said city leaders need to face the "facts" and realize that crime is transforming Chicago into an undesirable place to conduct business.

"The facts haven’t been especially kind to the city of Chicago as of late," Kempczinski said, Fox Business reported. "The fact is that there are fewer large companies headquartered in Chicago this year than last year. There are fewer this month than last month."

He later said, "It hasbecome increasingly difficult to operate a global business out of the city of Chicago and the state of Illinois."

Chris Kempczinski, President & CEO, McDonald's Corporation, 9/14/22 www.youtube.com

McDonald's estimates that its economic impact in Chicago is roughly $2 billion annually, according to the Wall Street Journal. That's a big number considering company employees are telling Kempczinski they do not feel safe traveling to McDonald's downtown corporate offices, he said.

Crime has been a significant problem for years in Chicago. But the issue is getting even worse this year. From the WSJ:

Data from the Chicago Police Department show that from the start of the year through Sept. 11, murders are down 15% when compared with the same period a year earlier, while thefts are up 65%. Crime overall is up 38% from last year’s period, according to the department, and 19% higher compared with the same stretch in 2019, before the pandemic.

Which businesses have left?

Over the last year, Chicago has lost Boeing (moving to northern Virginia), Caterpillar (moving to Texas), and Citadel (moving to Florida). Ironically, each of those companies are moving to states controlled by Republican governors.

For its part, McDonald's will remain in Chicago, Kempczinski said.