I'm glad to be an o/o now because I worked at HU and the COB for years and loved living close to work. There's no way I could have adapted to commuting downtown. I would have left the corp. I'm sure a lot of people will. They'll be able to get rid of a lot of old timers and run the corp. with a bunch of millennials at half the cost.
The move from downtown to Oak Brook was in 1971.
Great! Now SEIU won't have to rent buses to ship their paid protestor degenerate shills to rallies in Oak Brook. They can all just take public transit right to MCD HQ and protest more frequently. It'll be on the news every day now. Modern and progressive.
It won't be long till Easterbrook fills in lake fred!
Rumor is that they're offering buyouts for high level home office employees. Imagine a lot of the long timers will take that instead of a long commute into the city.
Putting on my real estate hat - if you look at the campus on Google Earth it does appear there is room for more development on that property. Less lakes, more floor space. I'm sure the Village of Oak Brook would have something to say about that.
The name of the game is for the corporate entity to get rid of a percentage of its workforce without incurring lawsuits. Replace a six figure + salary with one that has less benefits and tops out for considerably less fifteen or twenty years down the road. Younger employees (according to management theory) are thought to work harder than "ancient" coworkers because they haven't been jaded or "messed over" (yet) by corporate life. It happened in the 90's with Amoco (later named BP), Sears and Illinois Bell. The 3 biggest Downtown Chicago employers (outside of the Banks) of that era moved out and very far metro wise. It just didn't happen in Chicago - ditto for San Fran.(Chevron and Firemans Fund come to mind moving out of the financial district to the suburbs), New York City where the moves were especially hot and heavy (IBM, Union Carbide, International Paper, General Foods, and General to name a few) and most other US cities. If you really want to jam your headquarters workforce & get that headcount down -you move many states or miles away (some examples: Exxon, Xerox, City Service /Citgo, Lincoln National, WR Grace, JC Penney, Hertz, Service Master, Dover (a few years ago) and oh yeah in process-ConAgra.Now if you don't want to make a drastic move (and nationwide trend) relocate back to the CBD. Another generation and there will be another corporate flight cycle to the suburbs again. Bottom line it's a cyclical process driven by moolah (savings) and also where the CEO wants to call home. History does repeat itself in various variations.
Lots of homes to hit the market in Naperville. House values will plummet
If the BOD and the CEO really had the best interests of MCD stakeholders in mind they would get the company HQ out of Illinois and keep the City of Chicago in their rear view mirror.
AGREED, Chicago is a SEWER
Hope & Change.liberal Management Style
The above link may require a Financial Times subscription to the their website.
If you are going to move, why not go somewhere it make financial sense. Like Tenn. Texas or Fla. No state taxes. Better living conditions like Safer, better weather year round and more stable workforce. Staying in the Liberal wasteland of Chi-Town makes no sense.
Post a Comment