SAN FRANCISCO (MarketWatch) -- Chicago Mayor Richard Daley has vetoed the ordinance requiring so-called "big-box" retailers to pay their employees substantially more than the minimum wage. The ordinance called for certain retailers to pay employees at least $10 an hour and an additional $3 an hour in benefits by 2010. The measure only applied to companies with over $1 billion in annual sales and stores of at least 90,000 square feet, and would primarily apply to companies like Target Corp. (TGT: News, Quote) and Wal-Mart Stores Inc. (WMT: News, Quote) . "I understand and share a desire to ensure that everyone who works in the City of Chicago earns a decent wage. But I do not believe that this ordinance, well-intentioned as it may be, would achieve that end," Daley said in his first-ever veto message, according to the Chicago Sun-Times. Separately, Wal-Mart commended the veto. "(Daley's) action encourages desperately-needed business investment and development in the city, with job opportunities and savings for those who need it most," the retailer said in a statement.

 

Daley now needs to convince two people who voted for this to change their votes in order for the veto to stand, otherwise this will become law in Chicago. This is going to be really interesting. Its the first time since basically the 80's that Rich has been really challenged on anything here.

Daley now needs to convince two people who voted for this to change their votes in order for the veto to stand, otherwise this will become law in Chicago. This is going to be really interesting. Its the first time since basically the 80's that Rich has been really challenged on anything here.

I'll put money down right now that he's already got those 2 votes and more in his back pocket. I've been reading over the last few weeks about various alderman airing their "hints" at maybe switching over. Now that Daley has greased those palms, his veto will stand. Book it. He wouldn't veto it if it was going to fail.

I'll put money down right now that he's already got those 2 votes and more in his back pocket. I've been reading over the last few weeks about various alderman airing their "hints" at maybe switching over. Now that Daley has greased those palms, his veto will stand. Book it. He wouldn't veto it if it was going to fail.

 

My personal feeling... I agree 100%. With legitimate contenters for the mayoral race, he isn't going to look weak right now. I think this is why I took so long to veto it, is that he needed to twist arms a little bit harder.

It's Da Mayer, he gets what he wants. I really miss Chicago. When is his kid going to be ready to be da mayer?

It's Da Mayer, he gets what he wants. I really miss Chicago. When is his kid going to be ready to be da mayer?

Can you replace a King before the previous one dies?

It's Da Mayer, he gets what he wants. I really miss Chicago. When is his kid going to be ready to be da mayer?

I know his son Patrick enlisted in the Army several years ago. Aside from that, don't know too much. Never heard any information pertaining to him persuing a career in politics, although it certaintly wouldn't surprise me.

I remember when his dad passed away and the feeling of "who'll run the city". It was incomprehensible that anyone else could run the city. Almost like losing a parent. You just didn't get that with Mickey, Jane, Harry, Davey, or Eugene.

I know his son Patrick enlisted in the Army several years ago. Aside from that, don't know too much. Never heard any information pertaining to him persuing a career in politics, although it certaintly wouldn't surprise me.

 

In the present enviornment I think Pat would be best served letting about 10 years of "someone else" happen, that way people can begin to miss the "good old days". It seemed to work well for Richie.

Jesse jr. says Daley should give up his 200k a year and live on 7.50/hr. if he thinks that wage is so good for everyone working at the big box retailers.

 

And I think Jesse jr. should give up his congressional salary and other untold sums from daddy's shakedowns and live on 13/hr.

That is such a pathetic argument (Jessie Jr's). I never knew stocking shelves and being mayor was equivalent. Explains a lot though.

 

Also JJ, a job at a big box retailer (to start) is not meant to support a family. Yes, my sister has used hers (at Walmart) to support her and her son, but she knows it is a limited means job and while she would love to have a higher salary, it isn't realistic to expect big bucks for working at a Walmart.

Am I missing something here? Jesse and the City Council are for higher wages and Daley lower. Jesse suggests Richie should try living on lower wages to see what it's like. So then Jesse should also be forced to live on lower wages?? He's the one saying the lower wages suck. If he had to live on them wouldn't that reinforce his view??

Am I missing something here? Jesse and the City Council are for higher wages and Daley lower. Jesse suggests Richie should try living on lower wages to see what it's like. So then Jesse should also be forced to live on lower wages?? He's the one saying the lower wages suck. If he had to live on them wouldn't that reinforce his view??

 

Daley's arguement is that this will only chase jobs across the city limits into the burbs, and Chicago loses out on all of the tax revenue. He wants higher wages, but thinks this bill doesn't work FWIW.

If the aldermen knew Daley wasn't going to veto this bill it wouldn't have passed. I think the whole thing just stinks of politcal posturing and pandering (that they knew they wouldn't have to fulfull.

If the aldermen knew Daley wasn't going to veto this bill it wouldn't have passed. I think the whole thing just stinks of politcal posturing and pandering (that they knew they wouldn't have to fulfull.

 

This gets really interesting if/when guys start changing votes and have to go back and explain that to their constituants.

If anyone has access CNBC is debating CHicagos big box bill right now. I can't hear it, but if anyone can, I'd be curious to hear what they had to say.