Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (437743)	7/28/2011 7:22:20 PM
From: FJB	1 Recommendation Respond to of 793707

CME Group calls tax situation 'untenable;' says it may exit state Reuters 10:53 AM CDT, July 28, 2011 chicagotribune.com CME Group Inc. is evaluating whether to move some operations to other states from Chicago to reduce its taxes, but it has not decided on an exact timeline, CEO Craig Donohue said Thursday. "Our tax situation is untenable," Donohue told Reuters, noting that CME is taxed more heavily than any of its global competitors. The company is talking with at least three states -- Texas, Florida and Tennessee -- about relocating some of its business to take advantage of lower tax rates there, Donohue said. CME has been based in Chicago since the founding of its oldest market, the Chicago Board of Trade, in 1848. CME has no specific time frame for moving, Donohue said, and does not plan to shut its Chicago-based trading floor. But he said the possibility of moving other operations is real. "I don't think CME group is different from other companies" that relocate to more "hospitable" business environments, he said.