The rats are already beginning to desert the sinking ship:
CHAMPAIGN – The founder of Jimmy John’s said he has applied for Florida residency and may recommend that his corporate headquarters move out-of-state as a result of the Illinois tax increases enacted last week.
Jimmy John Liautaud told The News-Gazette on Tuesday that he is angry about the moves, which boosted the individual income tax from 3 percent to 5 percent and the corporate income tax from 7.3 percent to 9.5 percent.
“All they do is stick it to us,” he said, adding that the Legislature and governor showed “a clear lack of understanding.”
“I could absorb this and adapt, but it doesn’t feel good in my soul to make it happen,” Liautaud said.
What would the economic implications of losing the company be for central Illinois?
Liautaud said his business accounts for “350 motel nights a week in Champaign, 1,400 motel nights a month.”
“They eat at Cheddars,” get automotive service at Sullivan-Parkhill and “drink at Carlos (Nieto’s) bars,” he said.
Liautaud also lashed out at union protesters who demonstrated against a “low-cost” contractor his company is using to build a Jimmy John’s in Urbana. That restaurant will provide 30 jobs, he said.
He said he’s sick of being “pummeled.”
“I’m not sophisticated enough, smart enough or politically correct enough to absorb it all,” he said.
Jimmy John’s offices occupy 23,000 square feet on Fox Drive, and Liautaud said he had considered buying a 20,000-square-foot building just north of those offices. Those plans went out the window with the tax increase, he said.
He said he also planned to hire 80 more people at the executive level.
Sounds like a lot of tax revenue that now won’t be realized to me.
He’s also attracting boycotts from the college crowd. It looks like lose/lose politics.
So, by his own account he could absorb this and move on. But he’s pissy. So instead he’ll crap all over the people and businesses who helped make him what he is.
What a shock to discover Mr. Liautaud gave 16,000+ to Giualiani, Romney and McCain in 2008.
Sounds like one of Drew’s clients: angry, self-pitying, and for some reason inclined to bring political correctness into his rant.
Interesting. And not at alike a rage-o-holic Republican looking for a good excuse to vent. Nooo.
Let’s see how much — if any — of the feared exodus actually materializes.
Hmm, even more money, 70k it seems in 2010. To Mitt Romney’s PAC and to The Congressional Trust, a fund-raising device for the RNC.
In other words, we have here a guy who sells sandwiches, who is a committed Republican, who reacts to a tax increase with threats — despite admitting he can absorb the tax increase — and goes off on a toot involving “political correctness.”
He supports his threats by unsupported claims that by golly he was just about to hire 80 — count ’em 80 — new executives. But now, what with a tax increase he describes as absorbable, he just can’t do it. Darn it all.
This is pure, distilled essence of crapola.
He’d also already moved to Florida before the tax hikes and has real estate develoments in the Fort Myers area. I think the key line though was “I enjoy being courted . . ..”
Today the Ill. governor announced Becker Iron & Metal is moving from Missouri to Illinois for about $900k.
So Exhibit B would be the unnamed company that doesn’t plan to move?
Actually, I must laugh. You can always find someone who will claim he won’t do something as the result of a tax. In fact, if you have Drew in your Rolodex, you’re set.
He’s just trying to hold the state hostage for a tax exemption. Companies pull this crap all the time, use the threat of employment to get away with all sorts of special permits and tax benefits.
PD:
I had managed to miss the “courted” remark. As much money as this guy has given to Mark Kirk I’m surprised the new junior Senator from Illinois isn’t giving him a handy.
Can it honestly be counted as a loss when some whiny, obnoxious, self-pitying d-bag leaves a state? Do us a favor, Jimmy John, stay out of California, too.
I don’t know how familiar people are about Jimmy John’s, it started in a college town (Eastern Illinois before moving to U of Illinois), and that’s it’s market niche. This is one of the things that is strange to me about this. Right or wrong on the politics or economics of it, he’s pissing off his customers, the inebriated college students calling for delivery at four o’clock in the morning (his description, not mine), who I suspect like the tax increase.
And he is running a franchise. The boycotts don’t impact him directly.
The industrial park in Illinois (light industry) where I work has lost occupancy of over 500,000 sq feet in the last 2 years; one place alone 110,000. and another 72,000 sq ft. The loss of 23,000 sq ft and the associated number of jobs may not seem that big of a deal if you live somewhere else. To me it is very scary. I don’t expect any companies to lease or buy those places.
“He said he’s sick of being “pummeled.â€
For 25% of his yearly income, I will offer myself to be pummeled in his place.
Businessmen behaving rationally, as they have, and will, forever………….and Michael is throwing a juvenile temper tantrum. Seeking Priests and fools to run businesses I guess. Good luck.
Drew:
Nah, no priests. Just not whiny, dishonest, self-pitying douchebags who’ve never outgrown their sophomore infatuation with Ayn Rand.
He’s just exactly the kind of guy I figured you did business with Drew. Another poor, victimized, rich white guy, who thinks he’s an entitled genius because he sells hoagies to stoners.
Don’t worry, McDonalds can always build another store or two to replace Jimmy. Funny how they manage to roll right along, every city, every state, every country, every tax rate, even when there’s a Muslim Kenyan socialist president. You think it might be that they spend more time on business, less time on self-pity?
He wiked to be courted. Waaaah. He’s sick of being pummeled. Poor baby. Waaaah. Oh look: it’s another Quiznos ready to take his spot.
Like I said, a juvenile rant by Michael about real live successful businessmen making rational decisions. Same as they always have, and same as they always will, much as you may want the world to be different.
And Michael, could you at least once avoid invoking race? It blows your cover.
Hah! I should have known: you really are an honest to God objectivist, aren’t you? Good lord, a grown-up man who still thinks he’s John Galt. Please don’t shrug your mighty shoulders, Atlas, please we little people will be crushed under the weight of all those objectivist sandwiches!
You really think everyone who makes money in this world is just like you, don’t you, Drew? That all they care about is the bottom line, that all they work for is profit, that all of them are just as willing as your boy Jimmy John to shit on anyone who “pummels” them or fails to court them.
Yeah, that explains Warren Buffet and Steve Jobs and Steven Spielberg and Harry Snyder and Walt Disney or even Rupert Murdoch. Just narrow, cramped, bitter, self-pitying guys who only cared about their profit margin. You think you’re such an apostle of capitalism and you don’t even get the beauty of it. You’re a blind man at an art gallery. You don’t get that people achieve greatness because they have a dream, or an obsession, or maybe just a huge grudge or an insecurity, but maybe an incredible vision, or a talent that just won’t be contained.
What a sad, narrow world view. You don’t know much, dude. And at your age, and with your mind-set, you never will.
I think you’ve gotten your panties all balled up over nothing, Michael. And there’s good news!
To fill the gap in revenues from the exit of Jimmy Johns Vice President Biden and Al Gore have teamed up, pledging to triple their charitable giving this year. Noted Biden: “this pledge of $48 is a big first step in filling the gap left by greedy businessmen not fulfilling their patriotic duty to stand idly by and suffer whatever tax regime we poloiticians impose on them.”