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Unread 01-26-2012, 01:41 PM
 
Location: Chicago - Logan Square
2,630 posts, read 2,925,125 times
Reputation: 1982
Quote:
Originally Posted by sunnyandcloudydays View Post
I do not know the history of Benfield but I would be interested in knowing the staff count for them in London.

So now this brings up a whole diff scenario , like what happens when the lease expires downtown.
Chicago remains the headquarters for Aon Americas, and they are in the process of increasing the NA staff by 700-1,000. A good portion of those will be in Chicago, more than offsetting the 20 positions that are being moved to London. They're also moving 750 jobs from suburban locations to downtown and just signed a 15 year lease last November. They aren't going anywhere.

Strictly speaking they aren't leaving Chicago at all. They were incorporated in Delaware, not Chicago. The move to London basically means the top management will be meeting in London instead of Chicago. Most of these guys never moved to Chicago, and I don't think any of them plan to move to London.
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Unread 01-27-2012, 03:36 AM
 
Location: Chicago, IL SouthWest Suburbs
3,528 posts, read 2,422,382 times
Reputation: 6075
Quote:
Originally Posted by Attrill View Post
Chicago remains the headquarters for Aon Americas, and they are in the process of increasing the NA staff by 700-1,000. A good portion of those will be in Chicago, more than offsetting the 20 positions that are being moved to London. They're also moving 750 jobs from suburban locations to downtown and just signed a 15 year lease last November. They aren't going anywhere.

Strictly speaking they aren't leaving Chicago at all. They were incorporated in Delaware, not Chicago. The move to London basically means the top management will be meeting in London instead of Chicago. Most of these guys never moved to Chicago, and I don't think any of them plan to move to London.
Signing a 15 year lease is a long commitment. If I remember this lease was not signed to long ago

I can see your point with AON keeping the bulk of operational functions in Chicago.

As a total bystander AON was not on my radar as a company even tetering on a move albeit a move that is essentially only on paper.

AON has given the city millions and millions along with ties assiciated with its former ceo and founder.

Glad to hear the jobs are staying.
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Unread 01-27-2012, 08:17 AM
 
8,725 posts, read 11,912,952 times
Reputation: 6481
Right, Aon isn't leaving Chicago. Chicago is currently the Corporate Headquarters. Now they're going to have the Americas Headquarters in Chicago and the Worldwide Headquarters in London. Being in London puts them closer to emerging markets and puts the name out there a bit more.

No jobs are leaving Chicago except those top 20 people. I believe they're actually moving 750 people downtown to Chicago and on top of that hiring another 1,000 people in the US.

One issue that is freaking people out is that any employee of Aon who's bought any company stock or been awarded any stock options or restricted stock will now have to pay their taxes on all those shares. They're coming due because the company is moving overseas. That's going to mean tens and tens of millions of dollars. The founder alone is apparently going to have to pay upwards of $25 million to the government. I'm assuming longtime employees will have to sell some of their shares to foot the bill. Most average employees can't pull upwards of $4K-$10K out of their wallets.
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Unread 01-27-2012, 02:00 PM
 
Location: Chicago, IL SouthWest Suburbs
3,528 posts, read 2,422,382 times
Reputation: 6075
Quote:
Originally Posted by Chicago60614 View Post
Right, Aon isn't leaving Chicago. Chicago is currently the Corporate Headquarters. Now they're going to have the Americas Headquarters in Chicago and the Worldwide Headquarters in London. Being in London puts them closer to emerging markets and puts the name out there a bit more.

No jobs are leaving Chicago except those top 20 people. I believe they're actually moving 750 people downtown to Chicago and on top of that hiring another 1,000 people in the US.

One issue that is freaking people out is that any employee of Aon who's bought any company stock or been awarded any stock options or restricted stock will now have to pay their taxes on all those shares. They're coming due because the company is moving overseas. That's going to mean tens and tens of millions of dollars. The founder alone is apparently going to have to pay upwards of $25 million to the government. I'm assuming longtime employees will have to sell some of their shares to foot the bill. Most average employees can't pull upwards of $4K-$10K out of their wallets.
I read about this fact.
And if I ever ever had money to toss around in the market that would be something I would really look into.

Considering the state of the nation.
The markets are a risk and this is just one area that is risky.

So the liability is going to come from the sharholders and if they do not cash out their shares they are on the hook for pulling the money out of their own accts.???
OUCH
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