For investors, this past week, in a note to a reader:
There are a lot of scary charts out.What is most interesting, some blue chip, value, Fortune 500 companies took the same hit in 1Q22 as did ARKK. I think that's the bigger story.Another big story is Boeing moving out of Chicago.
In some ways, I think the Boeing story might be the biggest business story of the week.
Two surprises.
One: Boeing moved out of Chicago.
Two: Boeing moved to the wrong Arlington.
- Arlington, VA: a suburb of Washington (DC)
- Arlington, TX: a suburb of Dallas, TX
The move to Washington (DC) -- talk about a company now relying on government regulatory policies and hand-outs to survive.
From the linked article:
"Boeing’s decision to leave Illinois is incredibly disappointing -- every level of government in our state has worked to make Chicago and Illinois the perfect home for Boeing’s headquarters for the past 20 years,” U.S. Senator Dick Durbin of Illinois said. “We are working together to ensure Boeing leadership both understands how harmful this move will be and does everything possible to protect Illinois’s workers and jobs.”
[Threat in bold.]
Chicago has had other recent departures. United Airlines Holdings Inc. said in December that it will move as many as 1,300 workers from its Willis Tower headquarters to Arlington Heights, a suburb about 30 miles (48 kilometers) away that also is being considered by the Chicago Bears.
Chicago, the nation’s third-most populous city, has seen a rise in crime that prompted its richest resident, Citadel founder Ken Griffin, to say he’s likely to move his $38 billion hedge fund elsewhere. Chicago’s Magnificent Mile and State Street shopping districts, along with many restaurants in the downtown Loop, have yet to recover from the pandemic. Even the National Football League’s Bears franchise is considering an exit to the suburbs.
Disney needs to move its Florida theme park to Washington (DC).
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