Daley Relative Dropped from State Sports Authority Board by Emanuel
By Chuck Sudo in News on Nov 18, 2011 11:00PM
With a new chief executive comes new appointments. Such is the case today as Mayor Rahm Emanuel named three new appointments to the Illinois State Facilities Authority, AKA the landlords of the Chicago White Sox.
The new appointments are Jim Reynolds, Jr., chairman of Loop Capital Markets; former LaSalle Bank chairman, Chicago School Board president and current consultant Norman Bobins; and Chris Melvin, chairman and CEO of research and trading firm Melvin & Co.
Notice the common thread combining the three? Emanuel believes these appointments are integral to reforming the Authority.
“ISFA plays an important role in supporting Chicago’s sports teams and fans across the city, but they should be driven by a commitment to serve taxpayers and be accountable to their best interests. Throughout their careers, these three appointees have established a proven track record of managing finances of large and small organizations with integrity. I am confident they will help bring needed reform to ISFA.”
Starting immediately, the new appointees will not benefit from the perks of their positions, such as free food and drink, discounted tickets and usage of skyboxes for non-charity events, as at least a token gesture that Emanuel means business and possibly expedite the ISFA reviewing their lease with the White Sox, amend their restaurant and concessions deals with the teams and possibly start the process by which Wrigley Field may be purchased and renovated by the state.
However, the focus in the media hasn't been on who Emanuel appointed, but on who he removed from the board. Notably, Peter Q. Thompson, CEO of Perkins Investment Management and nephew of former mayor Richard M. Daley. It fits in nice and neat with the current narrative of some "feud" between Emanuel and Daley. But replacing bankers with bankers isn't some shot across a bow.