Bruce Rauner

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Bruce Rauner
Bruce Rauner August 2014.jpg
42nd Governor of Illinois
Incumbent
Assumed office
January 12, 2015
LieutenantEvelyn Sanguinetti
Preceded byPat Quinn
Personal details
BornBruce Vincent Rauner
(1957-02-18) February 18, 1957 (age 57)
Chicago, Illinois, U.S.
Political partyRepublican
Spouse(s)Elizabeth Rauner (1980–1993)
Diana Rauner
Children6
ResidenceExecutive Mansion

Springfield, Illinois

Alma materDartmouth College
Harvard Business School
WebsiteOfficial website
 
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Bruce Rauner
Bruce Rauner August 2014.jpg
42nd Governor of Illinois
Incumbent
Assumed office
January 12, 2015
LieutenantEvelyn Sanguinetti
Preceded byPat Quinn
Personal details
BornBruce Vincent Rauner
(1957-02-18) February 18, 1957 (age 57)
Chicago, Illinois, U.S.
Political partyRepublican
Spouse(s)Elizabeth Rauner (1980–1993)
Diana Rauner
Children6
ResidenceExecutive Mansion

Springfield, Illinois

Alma materDartmouth College
Harvard Business School
WebsiteOfficial website

Bruce Vincent Rauner (born February 18, 1957) is an American businessman, politician and the 42nd Governor of Illinois, in office since 2015.[1] Prior to his election, he was the Chairman of R8 Capital Partners and Chairman of the private equity firm GTCR, based in Chicago. He was the Republican nominee in the 2014 gubernatorial election and defeated incumbent Governor Pat Quinn.[2]

Early life and education[edit]

Bruce Rauner was born in Chicago and grew up in Deerfield, Illinois,[3] a suburb of Chicago. His mother, Ann E. (Erickson),[4] was a nurse, and his father, Vincent Joseph Rauner, was a lawyer and senior vice president for Motorola.[5][6][7][8] He has three siblings, Christopher, Mark, and Paula, and is of part Swedish descent.[4]

Rauner graduated summa cum laude with a degree in economics from Dartmouth College. At Dartmouth, he also studied English horn, played in the orchestra and won several statewide honors.[9] He later received an MBA from Harvard University.[10]

Business career[edit]

Rauner was the Chairman of private equity firm GTCR, where he had worked for more than 30 years, starting in 1981 after his graduation from Harvard[4] through his retirement in October 2012.[11] A number of state pension funds, including those of Illinois, have invested in GTCR, whose funds have regularly outperformed other private equity investment funds as well as the stock market.[12]

After leaving GTCR, Rauner opened an office for a self-financed venture firm, R8 Capital Partners. The firm will invest up to $15 million in smaller Illinois companies.[13]

Rauner served as Chairman of Choose Chicago, the not-for-profit that serves as the city's convention and tourism bureau,[14] resigning in May 2013,[15] and as Chairman of the Chicago Public Education Fund.[16] Rauner has also served as the Chairman of the Education Committee of the Civic Committee of The Commercial Club of Chicago.[17]

Political career[edit]

Rauner has served as an advisor to Chicago Mayor Rahm Emanuel.[10]

2014 gubernatorial election[edit]

In March 2013, Rauner formed an exploratory committee to look at a run for Governor of Illinois as a Republican.[18] Rauner said that his top priorities included streamlining government, improving education and improving the state's business climate.[19] He also supports term limits and says he would serve no more than 8 years as governor.[19] On June 5, 2013, Rauner officially announced his candidacy for governor,[20] telling Chicago magazine's Carol Felsenthal his platform would include overhauling tax policy and freezing property taxes.[21]

In October 2013, Rauner announced that his running mate would be Wheaton City Councilwoman Evelyn Sanguinetti.[22][23]

Rauner won the March 18 Republican primary with 328,934 votes (40.13%), defeating State Senator Kirk Dillard's 305,120 (37.22%), State Senator Bill Brady's 123,708 (15.09%) and Illinois Treasurer Dan Rutherford's 61,848 (7.55%).

For the general election, Rauner was endorsed by the majority of Illinois newspapers[24] including the Chicago Tribune,[25] the Daily Herald,[26] and the Chicago Sun-Times.[27]

On November 4, 2014, Rauner was elected Governor of Illinois, though initially without Gov. Quinn's concession.[28] Pat Quinn conceded defeat the next day.[29]

Rauner spent a record $26 million of his own money on his election.[30]

Governor of Illinois[edit]

Rauner was sworn in as Governor of Illinois on January 12, 2015.[31] In his first executive order, he halted state hiring as well as discretionary spending, and called for state agencies to sell surplus property.[32]

Policy positions[edit]

Minimum wage[edit]

Rauner has received media attention for his political stance on the minimum wage.[33][34] Rauner currently favors either raising the national minimum wage so Illinois employers are on the same level as other neighboring states, or unilaterally raising Illinois' minimum wage, but pairing the change with pro-business reforms to the state's tax code, workers compensation reform, and tort reform.[35]

Rauner's position on the minimum wage evolved significantly during his campaign. At a candidate forum on December 11, 2013, Rauner stated that he would favour reducing Illinois's minimum wage from $8.25 to the federal minimum wage of $7.25. The Chicago Sun-Times also uncovered video of Rauner at a campaign event in September 2013, where he said that he was "adamantly, adamantly against raising the minimum wage"[36] and audio of an interview with Rauner from January 10, 2014, when he said that "I have said, on a number of occasions, that we could have a lower minimum wage or no minimum wage as part of increasing Illinois' competitiveness."[37]

Tax policy[edit]

Rauner strongly opposed Governor Pat Quinn's proposal to make the 2011 “temporary” income tax increase permanent, instead calling for the Illinois' income tax rate to gradually be rolled back to 3 percent.[38]

In July 2014, Rauner called for expanding Illinois' sales tax to dozens of services, such as legal services and computer programming, which currently are not taxed in Illinois. Rauner estimated the expanded sales tax would bring in an additional $600 million a year.[39] Rauner's services tax proposal was harshly criticized by Pat Quinn, who said it would fall hardest on low income people.[40]

Term limits[edit]

Rauner strongly favors term limits, and has pledged to limit himself to no more than eight years as Governor.[41] Rauner organized and funded a push to put a constitutional amendment imposing term limits on Illinois legislators on the November 2014 ballot, gathering 591,092 signatures.[42] However, the term limits amendment was struck down in court as unconstitutional.[43]

Infrastructure[edit]

During his 2014 campaign, Rauner called for “billions” of dollars per year in public spending on infrastructure, but declined to detail how he would pay for the spending.[44]

During his gubernatorial campaign Rauner declined to take a position on the controversial Illiana Expressway and Peotone Airport projects advanced by Pat Quinn.[45] After taking office in 2015 he suspended the Illiana project pending a cost-benefit review.[46]

Controversies[edit]

Dave McKinney[edit]

On October 22, 2014, Dave McKinney, a 19-year veteran Chicago Sun-Times political reporter and bureau chief, resigned from the paper, citing pressure brought to bear on him by Sun Times management with regard to his coverage of Rauner.[47] McKinney had recently completed an investigative news story about a lawsuit filed by Christine Kirk, the CEO of LeapSource, a firm at which Rauner served as director. The unflattering news piece, written by three reporters and approved by the newspaper's editors, described Rauner using "hardball tactics" to threaten Kirk and her family.[48]

The Rauner campaign tried but failed to have the story include disclosure McKinney's wife, Ann Liston, was part owner of a company that did political work for a pro-Quinn PAC, and thus had had a conflict of interest;[49] they then published details about the shell LLC company, created by and sharing office space with a long term Democratic strategist firm, of which Liston was part-owner.[50] The shell LLC company is currently employed by a pro-Quinn PAC.[51] McKinney says any notion of conflict of interest was untrue.[52][53]

Walter Payton College Prep[edit]

In 2008, Rauner's daughter was admitted to Walter Payton Prep school in Chicago through the "principal picks" process. The family maintains several residences, including one in downtown Chicago that enabled her to apply to the Chicago-based school. Although she had top grades, she had missed several days of school and therefore did not qualify through the regular admissions process.[54][55] It was later revealed that Rauner had sought information on this process from his personal friend Arne Duncan, then CEO of Chicago Public Schools. Rauner has no recollection of speaking with Duncan directly. According to another source, she was not a "principal pick", but was let in following the phone call between Bruce Rauner and Arne Duncan.[56] The Rauners donated $250,000 to the school during the subsequent school year.[57] Rauner has a long history of contributing to Chicago Public Schools.[58]

Philanthropy[edit]

Rauner was nominated for the 2008 Philanthropist of the Year by the Chicago Association of Fundraising Professionals.[59] In 2003 Rauner received the Daley Medal from the Illinois Venture Capital Association for extraordinary support to the Illinois economy[60] and was given the Association for Corporate Growth's Lifetime Achievement Award. Rauner and his wife were nominated for the Golden Apple Foundation's 2011 Community Service Award.[61]

Rauner has been a financial supporter of projects including Chicago's Red Cross regional headquarters, the YMCA in the Little Village neighborhood,[62] six new charter high schools,[63] an AUSL turnaround campus, scholarship programs for disadvantaged Illinois public school students, and achievement-based compensation systems for teachers and principals in Chicago Public Schools. He provided major funding for the construction of the Rauner Special Collections Library at Dartmouth College,[64] endowed full professor chairs at Dartmouth College, Morehouse College, University of Chicago and Harvard Business School, and was the lead donor for the Stanley C. Golder Center for Private Equity and Entrepreneurial Finance at the University of Illinois.[65]

Rauner serves on the board of the National Fish and Wildlife Foundation.[66]

Personal life[edit]

Rauner lives in Winnetka, Illinois with his wife, Diana Mendley Rauner, and family.[67] He has three children with Diana Mendley. He also has three children from his first marriage, to Beth Konker Wessel, whom he married in 1980 and from whom he separated in 1990. (The divorce was finalized in 1993.)[4]

References[edit]

  1. ^ (November 5, 2014) - "Governor-Elect Rauner Names Transition Team". NBC Chicago.
  2. ^ Pearson, Rick (November 5, 2014) - "Quinn Concedes Defeat to Rauner in Illinois Governor's Race". Chicago Tribune.
  3. ^ Venture Capitalist Bruce Rauner Moves Toward Run for Governor Chicago Sun-Times, March 5, 2013
  4. ^ a b c d Felsenthal, Carol (Sep 15, 2014). "Will the Real Bruce Rauner Please Stand Up?" (October 2014). Chicago magazine. 
  5. ^ Vincent J. Rauner Obituary Chicago Tribune, May 01, 1997
  6. ^ GOP Race for Governor: Bruce Rauner Profile Chicago Sun-Times, March 07, 2014
  7. ^ http://articles.chicagotribune.com/1997-05-01/news/9705010223_1_motorola-patent-chicago
  8. ^ http://www.lens.org/images/patent/AU/2382277/B/AU_502553_B2.pdf
  9. ^ The Dartmouth, October 11, 1977
  10. ^ a b "Venture capitalist Bruce Rauner moves toward run for governor". Chicago Sun Times. March 5, 2013. Retrieved June 20, 2013. 
  11. ^ "Managing partner Rauner retires from GTCR". chicagotribune.com. October 19, 2012. Retrieved February 28, 2013. 
  12. ^ Lynn Marek (April 8, 2013). "Rauner's love/hate relationship with pension funds". Chicago Business. Retrieved May 23, 2013. 
  13. ^ Yerak, Becky (25 October 2012). "Ex-GTCR Chairman Bruce Rauner turns to civic efforts". Chicago Tribune. Retrieved 1 March 2013. 
  14. ^ Kathy Bergen (February 19, 2013). "Group to float 'aggressive' Chicago tourism ideas". Chicago Tribune. 
  15. ^ "Rauner resigns from Choose Chicago". Chicago Business. May 2, 2013. Retrieved May 23, 2013. 
  16. ^ "Bruce Rauner". 2013. Retrieved March 1, 2013. 
  17. ^ "Governor Rauner: Candidate Profile". Chicago Daily Herald. 9 October 2014. Retrieved 16 December 2014. 
  18. ^ Pearson, Rick (March 5, 2013). "Wealthy Rauner launches exploration of Republican governor bid". Chicago Tribune. 
  19. ^ a b Chris Kaergard (April 30, 2013). "Potential GOP candidate lists priorities". Journal Star. Retrieved May 23, 2013. 
  20. ^ "Rauner announces governor run". Crain Communications, Inc. June 5, 2013. Retrieved June 5, 2013. 
  21. ^ Felsenthal, Carol (July 2013). "Bruce Rauner Answers 13 Questions on Running for Governor of Illinois". Chicago magazine. 
  22. ^ Thomas, Charles (October 8, 2013). "Gov candidate Bruce Rauner announces Evelyn Sanguinetti as running mate". ABC 7 Chicago. Retrieved October 19, 2013. 
  23. ^ Bond, Brendan (January 17, 2014). "Bruce Rauner selects first-generation American as running mate". Associated Press. Reboot Illinois. Retrieved March 10, 2014. 
  24. ^ Merda, Chad (October 14, 2014) - "Who's Winning the Endorsement Battle in Illinois?". Chicago Sun-Times. Retrieved November 30, 2014.
  25. ^ (October 10, 2014) - "For Governor: The Tribune Endorses Bruce Rauner, to Revive Illinois". Chicago Tribune. Retrieved November 30, 2014.
  26. ^ (October 13, 2014) - "Our Endorsement: Rauner for Governor and Change". Daily Herald. Retrieved November 30, 2014.
  27. ^ (October 17, 2014) - "Editorial: Bruce Rauner for Governor". Chicago Sun-Times. Retrieved November 30, 2014.
  28. ^ NBC Chicago (Ward Room), online, 2014, "Rauner Wins Illinois Governor, Beats Quinn," Tuesday, November 4, 2014, 11:56 PM CST, see [1], accessed 5 November 2014.
  29. ^ "Quinn concedes, Rauner launches transition team" see [2], accessed 5 November 2014.
  30. ^ Bellware, Kim (4 November 2014). "Bruce Rauner Wins Illinois Governor's Race". Huffington Post. Retrieved 16 December 2014. 
  31. ^ (January 12, 2015) - "Bruce Rauner Sworn in As Governor: "I Am Ready to Go to Work For You"". NBC Chicago. Retrieved January 12, 2014.
  32. ^ Schwarz, Hunter (January 15, 2015) - "GOP Governors Call for State Employee Hiring Freezes to Balance Budgets". The Washington Post. Retrieved January 19, 2015.
  33. ^ McKinney, Dave (January 8, 2014). "Rauner redo: Now he says he wants to raise, not lower, the minimum wage". Associated Press. Chicago Sun-Times. Retrieved March 11, 2014. 
  34. ^ Matt, Dietrich (January 18, 2014). "Minimum wage a maximum headache for Rauner". Associated Press. Reboot Illinois. Retrieved March 10, 2014. 
  35. ^ Rauner, Bruce (9 January 2014). "How to raise the minimum wage". Chicago Tribune. Retrieved 16 December 2014. 
  36. ^ McKinney, Dave (January 9, 2014). "Rauner 'adamantly' opposes minimum wage hike". Associated Press. Chicago Sun-Times. Retrieved March 11, 2014. 
  37. ^ McKinney, Dave (September 4, 2014). "Rauner admits he once favored eliminating minimum wage". Associated Press. Chicago Sun-Times. Retrieved September 20, 2014. 
  38. ^ Korecki, Natasha (21 July 2014). "Rauner, Quinn camps trade budget barbs". Chicago Sun-Times. Retrieved 16 December 2014. 
  39. ^ Merrion, Paul (26 July 2014). "Rauner, the anti-tax candidate, finds a tax he likes: on services". Crain's Chicago Business. Retrieved 16 December 2014. 
  40. ^ Merrion, Paul (18 September 2014). "Rauner service tax proposal pushes a CEO toward Quinn". Crain's Chicago Business. Retrieved 16 December 2014. 
  41. ^ McKinney, Dave (23 April 2014). "Rauner embraces Radogno, Durkin term-limit plan for governor". Chicago Sun Times. Retrieved 16 December 2014. 
  42. ^ "Rauner Term Limits PAC Files 591,092 Signatures". Illinois Observer. 30 April 2014. Retrieved 16 December 2014. 
  43. ^ Riopell, Mike (22 August 2014). "Rauner's term limits plan rejected". Chicago Daily Herald. Retrieved 16 December 2014. 
  44. ^ Pearson, Rick (27 August 2014). "Rauner calls for spending billions on public works projects". Chicago Tribune. Retrieved 16 December 2014. 
  45. ^ Chase, Brett (6 December 2014). "Illiana, Peotone: Questions, Criticism Continue". Better Government Association. Retrieved 16 December 2014. 
  46. ^ http://www.wbez.org/news/rauner-puts-illiana-expressway-hold-111394
  47. ^ Marek, Lynne (October 22, 2014). "Sun-Times Springfield bureau chief Dave McKinney resigns". Crain's Chicago Business. 
  48. ^ McKinney, Dave; Marin, Carol; Moseley, Don (October 6, 2014). "Hardball tactics alleged in lawsuit against Bruce Rauner". Chicago Sun-Times. 
  49. ^ Marek, Lynne (October 17, 2014). "Did Rauner camp interfere with this Sun-Times reporter's job?". Crain's Business. 
  50. ^ Wemple, Eric (October 23, 2014). "The monster ethical issue behind the Chicago Sun-Times resignation story". Washington Post. 
  51. ^ Campaign Disclosures 
  52. ^ Channick, Robert (October 23, 2014). "Sun-Times reporter Dave McKinney quits, cites possible retaliation over Rauner article". Chicago Tribune. 
  53. ^ Dodge, John (October 22, 2014). "Sun-Times Reporter Quits; Blasts Paper's Boss, Rauner Campaign Tactics". CBS Chicago. 
  54. ^ Bond, Brendan (February 17, 2014). "WILL BRUCE RAUNER PAY THE PRICE FOR "SWEETNESSGATE?"". Associated Press. Reboot Illinois. Retrieved March 10, 2014. 
  55. ^ Schoenburg, Bernard (February 19, 2014). "Bernard Schoenburg: Bruce Rauner's story on school clout keeps changing". Associated Press. State Journal-Register. Retrieved March 10, 2014. 
  56. ^ http://politics.suntimes.com/article/springfield/‘principal-picks'-payton-college-prep-minuscule/tue-01142014-707am
  57. ^ O'Connor, John (2014-02-20). "A Look at Rauner's Claims on Chicago School Admission". The State. Retrieved 2014-03-02. 
  58. ^ Davey, Monica (2014-03-16). "In Illinois, Republicans See an Office Up for Grabs". New York Times. Retrieved 2014-03-17. 
  59. ^ "Association of Fundraising Professionals Chicago Chapter". Association of Fundraising Professionals Chicago Chapter. 2012. Retrieved March 1, 2013. 
  60. ^ "Illinois Venture Capital Association". December 3, 2003. Retrieved March 1, 2013. 
  61. ^ "Stanley C. Golder Community Service Award". GoldenApple.org. 2013. Retrieved March 1, 2013. 
  62. ^ "Rauner Family YMCA of Metro Chicago". YMCA. 2013. Retrieved March 1, 2013. 
  63. ^ Marek, Lynne (October 19, 2012). "Rauner makes it official, retires from GTCR". Chicago Business. Retrieved 1 March 2013. 
  64. ^ "Rauner Special Collections Library". January 18, 2013. Retrieved March 1, 2013. 
  65. ^ "Golder Center for Private Equity". University of Illinois. 2010. Retrieved March 1, 2013. 
  66. ^ "NFWF Leadership". National Fish and Wildlife Foundation. January 2013. Retrieved March 1, 2013. 
  67. ^ Kass, John (February 28, 2013). "Illinois Republicans: Get ready for Bruce Rauner". Chicago Tribune. 

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