Sunday, June 21, 2015
Hill-Rom Moves Corporate Headquarters To Chicago
Buried in recent news reports of Hill-Rom's more than $2 billion acquisition of Welch Allyn was a plan to relocate the company's corporate headquarters from its long-time home in Batesville to Chicago. John Greisch, the former CEO of Baxter International, never moved to Indiana in 2010 after he joined the company. This past week's announcement formalizes a decision to permanently relocate the company's headquarters to Illinois where it will become one of Illinois' 50 largest public companies. Its corporate offices employ about 80 people and is growing. The decision is not expected to affect the nearly 1,500 operations jobs still located in Batesville.
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8 comments:
So, I see all those phony Asia-Euro "trade missions"- which I call vacations for governors, mayors, their sycophants and for future employment introductions for the self-interested political tag along cronies- couldn't keep even a headquarters for an Indiana business in... Indiana.
Why we allow Democrat and Republican politicians to use our hard earned tax dollars for their benefit, and the benefit of their gaggle of family, friends, and cronies, must be stopped. Whether is was the crooked (former) marijuana peddler liberal Democrat-lite Mitch Daniels, the wooden ("but such a nice guy with so much humor if you knew him") Mike Pence, or Indy's own bloated corruptocrat on steroids Greg Ballard, trade missions do not create jobs "for the people". But, oh, the souvenirs and electric car companies you can bring back!
Too bad this happened, and good luck in Chicago with its corruption and high taxes. This is just the move of corporate hq and not the manufacturing facilities correct?
Yes. High-paid corporate jobs going to Chicago. Indiana keeps the low-paid manufacturing jobs.
This isn't good for IN; for the same reason that community bank protectionism ran amuck in the 1980's GA; making IN banks ripe acquisition targets, for large out of state banks; resulting in HQ decisions dislocated from local interests. Astute investors will factor Chicago's climate of corruption.
Love how the corporate hq stays separate from the manufacturing jobs. I give it 5 years until Batesville has itself a massive empty factory.
This is a disaster for the Daniels/Pence bunch.
This is also an embarrassment for Cincinnati. Chicago continues to consolidate power, while the rest of the Midwest wanes.
Yeah, in a few years, those products will be coming into Long Beach harbor on freighters out of China, and Indiana will be stuck with another collapsing town that only has memories of a formerly industrious past.
Anon 8:45 - Spot on.
Indiana, as are other Midwestern states, is dying a slow death. I had dealings with about fifteen or so law and medical grads a few months back. Many are leaving Indiana. A few of the fifteen are staying in the Midwest area, but most are heading out of the Midwest completely. The biggest winner in that group was North Carolina. North Carolina has over doubled its population since the 1980s. It is a state that offers spectacular outdoor mountain recreation as well as beach front recreation as well. NC has three metro areas with over 1M people.
And just recently I saw some predictions that for the next handful of years, the number of high school graduates in the Midwest and Northeast will be flat line, then will start to drop. The South and West will see increases, then flat line, then drop.
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