This piece is from Greg Hinz, from Crain’s Chicago Business, who is usually good. Kinz lays out the potential candidates to replace Da Mayor. His blog has several good posts about the mayoral race. I will be checking it out from time to time.
I tend to agree with the commenters on the post I linked to. The Chicago business community is looking disaster in the face here.
My WAG: The money is going to rally to someone early, probably Rahm, who can promise stability.
Things are very bad. The recession is hitting hard here, on top of a very unfriendly, uncertain and even punitive climate for business in Chicago, Cook County and Illinois.
The business guys I know (small and medium-sized) all say they would leave if they could, and would never move here if they weren’t here already.
So, the people who have large investments here, who are committed to the place due to real estate holdings and other fixed investments, and cannot uproot themselves, need to fend off an exodus that a weak or worse, anti-business mayor, would cause. That means they need someone in there who will be up to the job and not just get rolled.
Then, long term, they need to stop the bleeding and make it worth doing business here. That will not be easy. It may not be possible.
One of the jokes circulating among my friends is that Blago should run. My response was, what is Lee Kwan Yew doing these days? We could use him there.
My wife’s first reaction: “We should have sold our house when we had the chance. Now we are going to turn into Detroit.”
A lot of people have to be thinking this way.
[See also The Last Boss, from Zenpundit.]