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Unlike so many political figures in Chicago, Tony Rezko didn't come from a background steeped in ward politics and clout. In fact, after he finished his degrees at IIT, did what most new immigrants to Chicago do: he got a job.
In 1984, Rezko went to work for Crucial Concessions, owned by Jabir Herbert Muhammad, former manager of boxer Muhammad Ali, and son of Elijah Muhammad, founder of the Nation of Islam. Crucial Concessions had a contract with the Chicago Park District to sell hot dogs on beaches and in South Side parks. It was here that Rezko met his first business partner, Danial Mahru. Mahru is the chief executive officer of Automatic Ice, which sold ice to Crucial. Together they came up with an idea that would be worth millions of dollars.
In 1989, Rezko and Mahru founded Rezmar Inc, a real estate company that rehabilitated South Side apartment buildings. Four months into Mayor Daley's first term as mayor in 1989, Rezko and Mahru got a loan from the city for $629,000 to rehab an abandoned apartment building on 46th and Drexel. According to the Sun-Times, Rezmar got more than $100 million from the city, state and federal governments to rehabilitate 30 properties in Chicago.
According to Salon, Rezmar did their rehab work cheaply, using cheap materials and low-quality appliances. During the winter of 1997, for example, one building went five weeks with no heat, one of a dozen cases where the city took Rezmar to court to force the heat back on. According to that same Sun-Times investigation, Rezmar properties were "riddled with problems -- including squalid living conditions, vacant apartments, lack of heat, squatters and drug dealers."
Rezko started his pizza business in 1998 with loans from GE Capital Corp, and his pizza empire eventually covered much of the northern Midwest, stretching from Michigan, Indiana and Illinois, through Wisconsin and Minnesota. In 2001 he became delinquent on both his franchisee payments and his loans. He is alleged to have set up a phony sale of his franchise, at inflated prices, to bogus buyers, a scheme worth about $10 million. That deal is the subject of a second indictment. (PDF)
While his fast-food legal troubles grew, Tony Rezko was busy expanding his political influence in city, state and county political circles.
Tomorrow, Tony Rezko's political connections
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another scandal that traces back to Mayor Daley?!?!
Wow- big shocker there....
It's funny how da mayor has a reputation, deserved or not, for noting every pothole and every broken streetlamp when he is in a car, but can't seem to remember about any friends or coworkers he might have who are corrupt, or really know anything about corruption at all.
And it's funny how people in Chicago still eat this horseshit and call it prime rib.
This city, and this state, is hopeless.
Oh but there is always Knight O'Bama! Oh That's right he's attached to this filth and decay too. So now that you admit that its "hopeless" Tilda, then what's next?
Say its not true Spook. This is just a cruel smear campaign Obama would never associate with a Rezko, please stop trying to to smudge his halo. You sir are a bad person.
"In national interviews Obama has acted like he hardly knew the man who was his first campaign contributor and whom he has called his political godfather and answered questions with a striking disingenuousness. Locally, the brainiac who has memorialized details of his entire life going back to childhood in a best-selling book feigned ignorance when it came to Rezko's role in the purchase of his home, though he allowed in one interview (in what appear to be written answers) that he sought out Rezko."
-- Beachwood Reporter
Stop slandering obama he is a saint. he is the chosen one. The chicagoist will have none of this.
If Obama gets elected, we can expect a Whitewater like investigation into his ties to Rezco. I predict the Republicans will spend at least 50 million on this probe.
Anuone wanna bet against my prediction?
Sadly, Rezko is now forced to share underwear with other inmates.
Chicago J: I'll take that bet.
Assuming Obama gets in, and the Dems have another good showing in non-presidential races, I do not think the Republicans will be self-destructive enough to start another Clinton-like siege through a special prosecutor, especially on something as complicated and dry as the Rezko issue (that is, it is not sexy enough for the national audience). The political tide will not be in the Republicans' favor. One of the main messages of an Obama election (and no, I am not a member of the OBAMA! cult) will be that people need a break from this type of shit, at least for a while.
Then again, both the Dems and Republicans have show deep tendencies of self-destruction, so you would have a good shot at winning.
I'll take that bet too. Apart from having a scuzzy, connected fundraiser (cough, Charlie Tree and Norman Hsu, cough) his biggest sin seems to have been the real estate deal, the size (dollar-wise) of which doesn't really measure up to the millions at stake in, for example, Whitewater, which ended up turning up nothing actually related. I'm not saying that it wasn't right or even that it was legal, I'm saying that it's unlikely to prove worth the hassle of investigating.
If Obama had turned around and flipped the property, you might have had a point, but he didn't and it pales in comparison to the earmark Hastert's road cost. Hastert's road never got a lot of media traction and the President came to his district to sign the bill for crying out loud.
Making matters more complicated, Rezko gave money to Mark Kirk, Jim Edgar, the National Republican Congressional Committee... he was betting the box to build influence and it's probably not worth it to Republicans to point this out. Better to wait for something with more bite.
Hey Fed Up,
you sound like a Dems and over der, gimme a shot and beer type Guy. If O'Bama gets elected maybe you can get a job for his new Federal Department of Streets and Sans-sanitation. Daley's son Patrick will be its Chairman and Emil Jone's son with be its Deputy Chair. Although the Chairman will be part of the O'Bama cabinet the main Federal Office will be located in Chicago.
Spook
I am a shot and a beer type of guy but I would draw the line at being involved with the daleys or E. Jones. Obama is a typical crook co machine hack politican but no one cares as long as he keeps up the HOPE and CHANGE routine.