Category: News

Pritzker Doing Everything Possible to Cozy Up to Madigan

“J.B. Pritzker’s decided that funneling over $1 million to Mike Madigan and his allies wasn’t enough to prove his loyalty to Madigan. Pritzker’s going even further by choosing a Madigan ally as his running mate. 

Juliana Stratton owes her political career to Mike Madigan. Stratton took millions from Madigan-backed groups to win a state house seat and had Mike Madigan’s top political operative run her campaign. J.B. Pritzker is making it clear that he will allow the governor’s office to be annexed over to Speaker Madigan.” – Illinois Republican Party Spokesman Steven Yaffe

Just last year, Pritzker gave LIFT, a Madigan-aligned front group, nearly $1 million dollars in an attempt to increase Madigan’s power and block efforts to reform Illinois. And Pritzker secretly funneled another $200,000 to Mike Madigan and his hand-picked candidates for the state house.

Now Pritzker is doubling-down on his alliance with Madigan, picking a running mate that owes her political career to Madigan.
Juliana Stratton Owes Her Political Career to Mike Madigan:

Stratton’s 2016 Primary Campaign Was Run By Marty Quinn, Madigan’s Top Political Operative. “As hard as it is for me to believe—and I still can’t get over it—one of the most powerful operatives in Illinois house speaker Michael Madigan’s mighty Democratic Machine is a mild-mannered alderman who rarely says a word during City Council debates. That’s alderman Marty Quinn-of Madigan’s home 13th Ward, on the southwest side. In the March primary, Quinn oversaw three legislative campaigns on Madigan’s behalf, including Juliana Stratton’s successful run against state rep Ken Dunkin—one of the most expensive and high—profile legislative campaigns in state history.” (Ben Joravsky, “Quiet In The City Council, Marty Quinn Is Madigan’s Behind-The-Scenes Muscle,” Chicago Reader, 4/5/16)

Stratton’s Campaign Was Funded By Madigan’s Allies. “Stratton has raised $1.2 million, about two-thirds of it from organized labor, which opposes Rauner’s push for legislation to weaken collective bargaining rights. She’s also received contributions from downtown law firms that donate heavily to political funds controlled by Madigan, who has led the resistance to Rauner’s efforts to tighten rules on civil lawsuits.” (Monique Garcia and Kim Geiger, “Rauner, Madigan Feud Flows Down,” Chicago Tribune, 3/10/16)

During The Campaign, Madigan’s Spokesman Claimed “We Have No Involvement In That Race” – 30 Minutes Later A Van Was Seen Arriving At Madigan’s 13^th Ward Office To Drop Off Juliana Stratton Campaign Signs. “On Thursday afternoon, Madigan spokesman Steve Brown was asked about the Dunkin-Stratton contest and what role the speaker played in getting the Obama endorsement. ‘We have no involvement in that race,’ Brown said. A half-hour later, a delivery van pulled up to Madigan’s Southwest Side 13th Ward office and two men unloaded hundreds of blue-and-white yard signs with the message ‘President Barack Obama endorses Juliana Stratton.’” (Monique Garcia and Kim Geiger, “Rauner, Madigan Feud Flows Down,” Chicago Tribune, 3/10/16)

J.B. Pritzker Has Funneled Over $1 million to Madigan

Pritzker Contributed $900,000 To A Madigan-Linked Super PAC In The 2016 Election: 
“Earlier, the state party and other Rauner allies ripped Pritzker for that and for recently donating $900,000 to a super-PAC that aired anti-Rauner ads during the fall campaign. A total of $350,000 came in Pritzker’s name, $550,000 from the Pritzker family’s Jabodon PT Company.” (Greg Hinz, “Rauner Launches New Attack On J.B. Pritzker Spending,” Crain’s Chicago Business, 12/21/16)

Two LLCS controlled by J.B. Prizker sent over $200,000 to Mike Madigan and his Candidates in November:  
Stateline LLC Gave Madigan’s Democrats $119,400 In November

Stateline LLC Contributed $119,400 To Madigan House Candidates In 2016, Including $5,400 To Madigan’s Democratic Majority PAC.

Name	Amount	Date	Recipient
Stateline LLC	$25,000.00	11/3/2016	Friends of Sam Yingling
Stateline LLC	$25,000.00	11/3/2016	Greg for Illinois
Stateline LLC	$34,000.00	11/3/2016	Friends of Cynthia Borbas
Stateline LLC	$30,000.00	11/4/2016	Citizens for Merry Marwig
Stateline LLC	$5,400.00	11/17/2016	Democratic Majority

(State Board of Elections, Accessed 12/13/2016)

Stateline LLC Is Controlled By J.B. Pritzker
Stateline LLC’s Address Is 111 S. Wacker Drive, Suite 4000, Chicago IL. (State Board of Elections, Accessed 12/13/2016)

The Pritzker Group’s Address Is 111 S. Wacker Drive, Suite 4000, Chicago IL. (https://www.pritzkergroup.com/venture-capital/contact/)

Pritzker Listed His Ownership On Stateline LLC On His Statement of Economic Interest Forms. (Jay Robert Pritzker Statement of Economic Interests, Illinois Secretary of State, 5/1/2006)

TNDP LLC Gave Madigan’s Democrats $82,000 In November
TNDP LLC Contributed $82,000 To Madigan House Candidates In 2016, Including $10,800 To Mike Madigan Directly And $10,800 To The Madigan-Controlled Democratic Party Of Illinois.

Name	Amount	Date	Recipient
TNDP LLC	$20,000.00	11/4/2016	Friends of Katie Stuart
TNDP LLC	$35,000.00	11/3/2016	Friends of Deborah Conroy
TNDP LLC	$10,800.00	11/17/2016	Friends of Michael J. Madigan
TNDP LLC	$5,400.00	11/28/2016	Friends of Robert “Bob” Rita
TNDP LLC	$10,800.00	11/17/2016	Democratic Party of Illinois

(State Board of Elections, Accessed 12/13/2016)

TNDP LLC Is Controlled By J.B. Pritzker
TNDP LLC’s Address Is 111 S. Wacker Drive, Suite 4000, Chicago IL. (State Board of Elections, Accessed 12/13/2016)

The Pritzker Group’s Address Is 111 S. Wacker Drive, Suite 4000, Chicago IL. (https://www.pritzkergroup.com/venture-capital/contact/)

The Registered Agent For TNDP LLC Is “Jay Robert Pritzker” According To Secretary of State Records.(TNDP LLC File Detail Report, Illinois Secretary of State, Accessed 12/13/2016)

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New TV Ad Papers Over Pritzker Family’s Real Record

“J.B. Pritzker’s new television ad is a deceptive attempt to cover up his family’s history of attacking the labor movement. Pritzker personally profits by exploiting union labor – just listen to what union protesters have to say about the billionaire family. Just like Mike Madigan, J.B. Pritzker is a politician with zero credibility who says one thing and does another.” – Illinois Republican Party Spokesman Steven Yaffe

In response to J.B. Pritzker’s new television ad lauding his insider endorsement of Madigan-backed labor groups, the Illinois Republican Party today released a digital video highlighting Pritzker’s true record on labor.

Watch here.

During the recession, the Pritzker family faced mass protests from its workers over mistreatment and attempts to prevent unionization.

As Crain’s Chicago Business notes, “Hyatt fought efforts by Unite Here union to organize and secure raises for Hyatt workers.”

In one infamous incident, the Pritzkers turned heat lamps on picketing workers during a heat wave.

J.B. Pritzker personally profits from the family business, owning nearly 2% of Hyatt and acting as a key member of the majority voting block that controls the company. One of Pritzker’s cousins chairs the board of directors.

Pritzker even agreed to align his share’s vote with his cousins’, making him a critical part of their voting block and an enabler to all of their controversial decisions regarding employee mistreatment.

Pritzker even bragged about his role in Hyatt on his website – describing himself as a “principal owner”. (See below)

JB Pritzker Has Enabled And Supported Hyatt’s Management

JB Pritzker Currently Controls 1.9% Of The Total Voting Power For Hyatt Hotels Corporation. (Form SC 13D, Charles E. Dobrusin, SEC Accession No. 0001144204-17-001664, 1/10/2017)

When The Pritzkers Took Hyatt Public, The Family Controlled 80 Percent Of The Class B Shares, Which Have 10 Times The Voting Power Of Class A Shares. “Hyatt Hotels Corp. announced recently that the shares will be priced at $23 to $26. The offering is structured so the Pritzker family would own 80 percent of Hyatt’s Class B common stock, each share of which has 10 times the voting power of a Class A common share. The company’s initial public offering of 38 million Class A shares would raise between $874 million and $988 million.” (Julie Wernau, “Hyatt IPO Plan Draws Fire,” Chicago Tribune, 10/29/2009)

This “Super-Voting” Stock Allowed The Pritzkers To Maintain Control Over Hyatt Even If Their Ownership Of The Company’s Outstanding Shares Fell Below 50%. “Hyatt Hotels Corp. is likely to see “outsized profit growth” over the next decade, but the Pritzker family’s tightfisted control over the underachieving hotel chain should make investors wary of its initial public offering, a prominent real estate stock research firm said Wednesday.  The proposed IPO could raise about $1 billion for Chicago-based Hyatt, the crown jewel of the billionaire family. Pritzker family trusts plan to sell 38 million shares for as much as $26 apiece, according to a filing last week with the Securities and Exchange Commission.  But the family plans to retain its grip on the company through so-called “super-voting” stock, which would allow the Pritzkers to outvote other common shareholders even if the family’s stake falls to nearly 15%.” (Thomas Corfman, “Hyatt’s Corporate Structure Criticized In Report,” Crain’s Chicago Business, 10/29/2009)

JB Pritzker Agreed To Vote His Super Shares In Line With The Recommendations Of Hyatt’s Board Of Directors. “Until the later to occur of (i) January 1, 2015 and (ii) that date upon which more than 75% of the FD Stock is owned by Persons other than Pritzkers and Foreign Pritzkers, all Pritzkers (and their successors in interest, if applicable), but not the transferees by sale (other than Pritzkers or Foreign Pritzkers who purchase directly from other Pritzkers or Foreign Pritzkers) or by, or following, foreclosures as aforesaid, will vote all of their voting securities of Hyatt (and successor Companies) consistent with the recommendations of the board of directors of Hyatt with respect to all matters (assuming agreement as to any such matter by a majority of a minimum of three Independent directors or, in the case of transactions involving Hyatt and an Affiliate thereof, assuming agreement of all of such minimum of three Independent directors). All Pritzkers will cast and submit by proxy to Hyatt their votes in a manner consistent with this Section 3.1(c) at least five business days prior to the scheduled date of the Annual or Special Meeting of stockholders of Hyatt, as applicable.” (“Amended and Restated Global Hyatt Agreement,” Hyatt Hotels Corporation, 10/1/2009)

JB Pritzker’s Cousin, Thomas J. Pritzker, Is The Executive Chairman Of Hyatt’s Board Of Directors. (Board of Directors, Hyatt Hotels Corporation, Accessed 1/17/2017)

Jason Pritzker, Thomas Pritzker’s Son, Is Also On Hyatt’s Board Of Directors. (Board of Directors, Hyatt Hotels Corporation, Accessed 1/17/2017)

Penny Pritzker, JB Pritzker’s Sister, Served On Hyatt’s Board Of Directors Until She Was Appointed Commerce Secretary In 2013. “Chicago billionaire Penny Pritzker intends to resign from corporate boards, including that of Hyatt Hotels Corp., and reported that she received nearly $54 million in consulting fees last year from an offshore Bahamian trust, the Commerce Department secretary nominee said in documents released Wednesday.” (Melissa Harris and Katherine Skiba, “Pritzker Opens The Books On Finances,” Chicago Tribune, 5/16/2013)

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