Bake Sale For Politically Connected CME: Progressives and Unions Don't Like the "Waiver Economy" in Chicago

Progressives and unions are unhappy with "the waiver economy" in Illinois.Crain's Chicago Business:

A coalition of unions and progressive activist groups says it's going to hold a bake sale on Monday to benefit the "struggling" Chicago Mercantile Exchange.

Could I make this up?

The Grassroots Collaborative just sent out an advisory saying it will sell muffins outside parent CME Group's South Wacker Drive headquarters on Monday "because almost $1 billion in profits in 2010 is apparently not enough."

Their reference, of course, is this week's statement by CME Group Executive Chairman Terrence Duffy that he might have to move at least CME jobs out of state because a recent hike in Illinois' corporate income tax will cost the firm perhaps $50 million this year.

The CME is looking for other businesses and individual taxpayers to payer a higher rate so they can pay a lower rate. Now that's The Chicago Way.