ConAgra moving to Chicago

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Re: ConAgra moving to Chicago

Postby Coyote » Wed Sep 30, 2015 9:53 pm

:clap: nice job!
I would settle for at least 4 and a combination of any two others....
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Re: ConAgra moving to Chicago

Postby nativeomahan » Wed Sep 30, 2015 10:04 pm

iamjacobm wrote:Tearing down buildings is so unnecessary. Millions in property value and hundreds of thousands of SF in top of the line Class A office space. The buildings could be worked around a larger plan and used to attract new early anchors to the area.


Thats exactly what those of us who recognized the value of Jobbers Canyon said 20 years ago.

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Re: ConAgra moving to Chicago

Postby Garrett » Wed Sep 30, 2015 10:57 pm

You know... I've always felt the Merchandise Mart is just an big, ugly grey stone building...
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Re: ConAgra moving to Chicago

Postby PotatoeEatsFish » Wed Sep 30, 2015 11:11 pm

Museum of the Ancient Arts- Get on it people :lol: Anyways after watching channel 7 tonight it seems clear that Conagra will move.
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Re: ConAgra moving to Chicago

Postby daveoma » Wed Sep 30, 2015 11:14 pm

I like it too! One question comes to mind however. How much of the green space should we keep? Do you think minimizing the green space to a certain extent might affect the desirability of the area?

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Re: ConAgra moving to Chicago

Postby Coyote » Wed Sep 30, 2015 11:25 pm

Ok, I'm playing. Jacobs #4 plus the original North Downtown's Museum District.
What was the Museum in search of a building. There were plans already posted.
If each building housed a different genre, without taking away from other local exhibits...

What would a World Class Omaha Museum District Campus house?
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Re: ConAgra moving to Chicago

Postby robrock70 » Wed Sep 30, 2015 11:27 pm

another reason to get rid of Stotehert It happened on her watch. Stothert and Ricketts reacted too late-while the mayor of Chicago and govenor of Illinois were working behind the scenes to ensure the move. Just like how she campaigned on getting rid of the restaurant tax and she never did that. she does have her head in the sand and probably some where else too!

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Re: ConAgra moving to Chicago

Postby bigredmed » Wed Sep 30, 2015 11:48 pm

daveoma wrote:I like it too! One question comes to mind however. How much of the green space should we keep? Do you think minimizing the green space to a certain extent might affect the desirability of the area?



Probably more than some think. The space on the east side of the OM was dark and dreery with JC and the east side of the OM kind of never really took off till ConAgra moved in. I would leave some. Frankly, I would expand the park and then develop with firm financing (non-public) as you are able.

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Re: ConAgra moving to Chicago

Postby Coyote » Wed Sep 30, 2015 11:52 pm

Please see the other Rumor thread on the future of this campus...
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Re: ConAgra moving to Chicago

Postby nebugeater » Thu Oct 01, 2015 6:58 am

KFAB is reporting that a ConAgra press release is out a few minutes ago stating what most assumed. They are moving HQ to Chicago along with about 700 employees combined from Omaha and Napersville.

Move to take place in the summer of 2016

Have not found the release on line yet.
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Re: ConAgra moving to Chicago

Postby nebugeater » Thu Oct 01, 2015 7:05 am

Guest12345 wrote:http://finance.yahoo.com/news/conagra-foods-announces-300-million-113000923.html



Thanks

Just found it too.


OMAHA, Neb.--(BUSINESS WIRE)--

ConAgra Foods, Inc. (CAG) today announced restructuring plans to improve profitability, advance its growth agenda and unlock shareholder value. ConAgra Foods expects to realize at least $300 million of efficiency benefits within the next three years through a combination of reductions in SG&A and enhancements to trade spend processes and tools.

Cost savings of approximately $200 million are expected to be derived from a combination of lower headcount and non-headcount costs which will be achieved by aggressively embracing zero-based budgeting, simplifying organizational structure by increasing spans of control and reducing layers, and outsourcing technology and back office functions to improve scalability. Additionally, the company expects to realize approximately $100 million of efficiency benefits from enhancements to trade spend processes and tools.

The company expects the plan to provide a modest benefit to fiscal year 2016 earnings. More than half the savings are anticipated to be realized by the end of fiscal year 2017 with the balance achieved in fiscal year 2018. These savings are in addition to the approximately $150 million in cost reductions achieved by the company over the past two years and are expected to enhance the company's cost-competitiveness, margins and agility, while also providing fuel for future brand-building and innovation initiatives.

The restructuring is expected to result in the elimination of approximately 1,500 positions or approximately 30% of the company’s global office-based workforce, and excludes any impact from the planned divestiture of the private label operations. Plant positions will not be eliminated in connection with this restructuring. ConAgra Foods estimates it will incur total non-recurring charges of approximately $345 million, substantially all of which are expected to be cash charges, over the next two to three years in connection with the restructuring.

The company also announced the relocation of its headquarters to Chicago, Ill. Beginning in the summer of 2016, approximately 700 employees will be located in the new offices in the city’s Merchandise Mart, including the company’s senior leadership team and certain functions of the Consumer Foods business, which are currently located in Omaha, Neb. and Naperville, Ill. The company will continue to maintain a significant presence in Omaha, including approximately 1,200 employees within key administrative functions, as well as research & development and supply chain management.




“Today’s announcements are important milestones as we continue to execute against our strategic plan to build a focused, higher-margin, more contemporary and higher-performing company,” said Sean Connolly, president and chief executive officer, ConAgra Foods. “We are making difficult, but necessary, decisions to enhance productivity, drive standardization and enhance flexibility to deliver improved profitability. And through our organization redesign, we will better harness the power of our front line by deploying our talent against our largest opportunities for future growth and value creation.”

Mr. Connolly continued, “Locating our headquarters and our largest business segment in Chicago places us in the heart of one of the world’s business capitals and consumer packaged goods centers, enhancing our ability to attract and retain top talent with a focus on brand building and innovation.”

“Importantly, we will also retain a major presence in Omaha, where we have deep roots. Together with our new efficiency plan, we believe this geographic rebalancing will serve as a catalyst for improved organic and inorganic growth, and ultimately, stronger value creation for our shareholders.”

“We appreciate the strong support offered by both Mayor Rahm Emanuel and Governor Bruce Rauner during this process of evaluating a move to Chicago. Equally, we are grateful to Governor Pete Ricketts, Senator Heath Mello, Mayor Jean Stothert and Omaha Chamber President David Brown for the great support we have always received and continue to receive in Omaha. The decision to move headquarters was solely based on the strategic needs of our business and was not a city-vs-city exercise. We feel fortunate to have a meaningful relationship with two outstanding business centers,” concluded Connolly.

“I am thrilled to welcome ConAgra Foods' worldwide corporate headquarters to Illinois,” Governor Bruce Rauner said. “ConAgra has relied on the hardworking men and women of Illinois for almost 30 years, with over hundreds of employees calling our state their home. We look forward to the opportunities created by ConAgra's decision to invest in Illinois, and welcome them to their new home.”

“I am honored to welcome ConAgra Foods to the City of Chicago. By choosing Chicago as their new home, ConAgra Foods sees the same strengths that so many other companies see in relocating their headquarters here from our talent, to our transportation, to our quality of life,” said Mayor Rahm Emanuel. “This decision by ConAgra Foods further solidifies Chicago’s role as one of the world’s leading destinations for food processing companies. I look forward to watching them become part of Chicago’s future by creating even more jobs and opening up more opportunities for the residents of our city
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Re: ConAgra moving to Chicago

Postby Toottoot » Thu Oct 01, 2015 7:51 am

How many employees does ConAgra currently have at its downtown headquarters? Is reducing it to 1200 that big of a loss?

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Re: ConAgra moving to Chicago

Postby RNcyanide » Thu Oct 01, 2015 7:51 am

Ouch.
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Re: ConAgra moving to Chicago

Postby GetUrban » Thu Oct 01, 2015 9:08 am

nativeomahan wrote:
iamjacobm wrote:Tearing down buildings is so unnecessary. Millions in property value and hundreds of thousands of SF in top of the line Class A office space. The buildings could be worked around a larger plan and used to attract new early anchors to the area.


Thats exactly what those of us who recognized the value of Jobbers Canyon said 20 years ago.


Actually, there is no comparison in potential value. (JC was priceless...ConAgra's buildings not so much)

But realistically, I predict the vacated space will most likely be rented out, and not much will change with the campus right away.
He said "They are some big, ugly red brick buildings"
...and then they were gone.

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Re: ConAgra moving to Chicago

Postby Linkin5 » Thu Oct 01, 2015 9:10 am

robrock70 wrote:another reason to get rid of Stotehert It happened on her watch. Stothert and Ricketts reacted too late-while the mayor of Chicago and govenor of Illinois were working behind the scenes to ensure the move. Just like how she campaigned on getting rid of the restaurant tax and she never did that. she does have her head in the sand and probably some where else too!


This has nothing to do with either of these people, this is an awful post.

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Re: ConAgra moving to Chicago

Postby GetUrban » Thu Oct 01, 2015 9:19 am

Linkin5 wrote:
robrock70 wrote:another reason to get rid of Stotehert It happened on her watch. Stothert and Ricketts reacted too late-while the mayor of Chicago and govenor of Illinois were working behind the scenes to ensure the move. Just like how she campaigned on getting rid of the restaurant tax and she never did that. she does have her head in the sand and probably some where else too!


This has nothing to do with either of these people, this is an awful post.


I agree, there is nothing that could have been done, incentive-wise to keep the HQ here. It was a strategic move on CAG's part. It had more to do with where the CEO already lived.
He said "They are some big, ugly red brick buildings"
...and then they were gone.

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Re: ConAgra moving to Chicago

Postby skinzfan23 » Thu Oct 01, 2015 9:24 am

From the world herald:
Our latest update on ConAgra: The company said it plans to cut 1,000 corporate jobs in Omaha, more than half of its salaried workforce in the area.

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Re: ConAgra moving to Chicago

Postby GetUrban » Thu Oct 01, 2015 10:42 am

skinzfan23 wrote:From the world herald:
Our latest update on ConAgra: The company said it plans to cut 1,000 corporate jobs in Omaha, more than half of its salaried workforce in the area.


...and move at least 300 HQ jobs to Chicago. Net loss to Omaha = 1300, it appears.
He said "They are some big, ugly red brick buildings"
...and then they were gone.

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Re: ConAgra moving to Chicago

Postby Brad » Thu Oct 01, 2015 11:02 am

GetUrban wrote:
...and move at least 300 HQ jobs to Chicago. Net loss to Omaha = 1300, it appears.


Why are some stations saying 1000 and others saying 1500?
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Re: ConAgra moving to Chicago

Postby RNcyanide » Thu Oct 01, 2015 11:08 am

robrock70 wrote:another reason to get rid of Stotehert It happened on her watch. Stothert and Ricketts reacted too late-while the mayor of Chicago and govenor of Illinois were working behind the scenes to ensure the move. Just like how she campaigned on getting rid of the restaurant tax and she never did that. she does have her head in the sand and probably some where else too!


You high, bro?
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Re: ConAgra moving to Chicago

Postby mr. omaha » Thu Oct 01, 2015 11:23 am

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Re: ConAgra moving to Chicago

Postby skinzfan23 » Thu Oct 01, 2015 11:57 am

Its a good thing HDR is building their HQ's downtown. Between the 1,000 - 1,500 workers that ConAgra is going to lose and the 400 or so that Pacific Life is moving to AV, there will be approx 1,500 - 2,000 less workers downtown.

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Re: ConAgra moving to Chicago

Postby Garrett » Thu Oct 01, 2015 12:00 pm

I think ConAgra could use a new statue to replace Chef Boyardee... How about this?

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Re: ConAgra moving to Chicago

Postby RNcyanide » Thu Oct 01, 2015 12:11 pm

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That's too old school. The new, hip, millennials in Chicagoland that we apparently don't have here would appreciate something more modern.
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Re: ConAgra moving to Chicago

Postby NovakOmaha » Thu Oct 01, 2015 12:45 pm

Lame excuses. Illinois & Chicago offered incentives yet Conagra asked nothing from Nebraska or Omaha. Boss lives in Chicago so company moves to Chicago. If the next boss lives in Ogalala the company moves there? (Not that there is anything wrong with Ogalala) Strategic needs my behind. Attract and retain? My behind. Man up and admit that you want to live in Chicago and don't want to move or commute, you coward. Chicago is a world business capital yes, and there are both commercial flights and the CAG fleet that can get you there in an hour. There are also phones and internet. The excuses are pitiful. The company made a lousy decision to acquire Ralcorp and Omaha is paying the price. As always, bad management decisions led to this outcome. All Omaha board members quit a while ago. Same thing happened to Enron. Deja Vu all over again.

This happened to UP a few times and the HQ ended up back in Omaha.

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Re: ConAgra moving to Chicago

Postby iamjacobm » Thu Oct 01, 2015 1:06 pm

skinzfan23 wrote:Its a good thing HDR is building their HQ's downtown. Between the 1,000 - 1,500 workers that ConAgra is going to lose and the 400 or so that Pacific Life is moving to AV, there will be approx 1,500 - 2,000 less workers downtown.


There are a lot more things at play than those three though. National Indemnity is moving their entire workforce downtown. Boyd Jones, while smaller, is moving 100 jobs DT. The vacancy rate is still very low downtown and as others have mentioned there is practically nothing big enough for even a mid-sized company to move downtown if they wanted to. Not saying this is beneficial to downtown, it isn't. But there are opportunities for a solid rebound here. Honestly I started the day kinda down, we all knew this was coming but the official announcement stings.

Now I am looking forward. Omaha still has a lot going for it and I think(or hope) that this will become a rallying point for developers and other leaders to take a hard look at ourselves and move forward to become a better home for our people and our companies.

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Re: ConAgra moving to Chicago

Postby Midwestern » Thu Oct 01, 2015 1:12 pm

iamjacobm wrote:
skinzfan23 wrote:Its a good thing HDR is building their HQ's downtown. Between the 1,000 - 1,500 workers that ConAgra is going to lose and the 400 or so that Pacific Life is moving to AV, there will be approx 1,500 - 2,000 less workers downtown.

Now I am looking forward. Omaha still has a lot going for it and I think(or hope) that this will become a rallying point for developers and other leaders to take a hard look at ourselves and move forward to become a better home for our people and our companies.


Very well said. There have been a ton of developments within the past 5 years that have positioned our DT well for the future. Need to keep building on that.

All we can do is move forward and do the things for our downtown that other cities around the country are doing. The times are changing and it takes different qualities in a city to attract the Millennial workforce.

Denser downtown, more vibrant, at least the option of decent mass transit, etc etc etc. Basically the same stuff we keep saying time after time on all these development threads.

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Re: ConAgra moving to Chicago

Postby skinzfan23 » Thu Oct 01, 2015 1:16 pm

Thanks for picking me up at least a little. I completely agree. If Omaha positions itself properly this could turn out to be a huge plus for the development of downtown.

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Re: ConAgra moving to Chicago

Postby iamjacobm » Thu Oct 01, 2015 1:28 pm

I am trying my best to keep a level head here in no form is that is positive thing, but we can only move forward. I along with many on this board have a deep love for this city and just want it to be the best place possible. Great companies and great people can thrive here. We just can't sit back and expect everything to fall in line like we tend to do sometimes. I hope the Chamber gets even more agressive I hope peer companies see this as an opportunity to add talent to their workforces, I hope Omaha as a community gets a chip on their shoulder b/c the CEO said we aren't good enough for them. I want to come out of this as an optimist.

Can't say I haven't made a list of brands to avoid at the store though...

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Re: ConAgra moving to Chicago

Postby Erik » Thu Oct 01, 2015 1:34 pm

The city can easily recover from this.

But this nonchalant, sitting on your hands approach by the last two administrations have to stop.

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Re: ConAgra moving to Chicago

Postby Linkin5 » Thu Oct 01, 2015 1:41 pm

Erik wrote:But this nonchalant, sitting on your hands approach by the last two administrations have to stop.


Please clarify how or what they could have done to prevent this.

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Re: ConAgra moving to Chicago

Postby Uffda » Thu Oct 01, 2015 2:21 pm

Brad wrote:
GetUrban wrote:
...and move at least 300 HQ jobs to Chicago. Net loss to Omaha = 1300, it appears.


Why are some stations saying 1000 and others saying 1500?


Info from ConAgra Town Hall meeting this morning --- They really didn't tell their employees anything -- according to a co-worker's spouse who works for ConAgra

Conagran

Re: ConAgra moving to Chicago

Postby Conagran » Thu Oct 01, 2015 3:56 pm

I am posting this from a Conagra work computer because there's nothing secret in my post - approximately 1200 salaried, "corporate office" type positions will remain in Omaha. That's not an exact number, it's an estimate. 300-350 positions are moving from Omaha to Chicago, increasing the Naperville/Chicago office to approximately 700 people. These positions are "Frozen" positions, meaning Banquet, Healthy Choice, etc. They will integrate with the "Grocery" positions, meaning Hunts, Peter Pan, etc. that are already in Naperville. They are also joined by the executives and their immediate staffs. This is happening this coming summer in 2016.

In 2-4 weeks, the vast majority of ConAgra employees will know what to expect for their futures. IT is remaining in Omaha, and is looking to outsource, so that timeline will be much longer.

Conagra was approaching 3000 corporate office jobs in Omaha. 300-350 are moving to Chicago, so that's probably about 2600 remaining. 1500 corporate office jobs are being eliminated in total, the vast majority of which are in Omaha, that takes you down to the 1200 remaining number.

The Council Bluffs or Lincoln manufacturing plants are not affected at all, but they are sometimes included in estimates of the Conagra workforce in Omaha today.

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Re: ConAgra moving to Chicago

Postby skinzfan23 » Thu Oct 01, 2015 4:08 pm

From Channel 7:
Omaha Mayor Jean Stothert had a lot to say about ConAgra's bombshell annoucement today. Here are the key points:

CONAGRA CUTTING 1,500 JOBS, MOVING HEADQUARTERS TO CHICAGO

ConAgra is cutting about 1,500 jobs, or approximately 30 percent of its global, office-based workforce, and moving its headquarters to Chicago from Omaha.
MORE
1: "Most of the cuts are management and salaried positions"

2. The ConAgra CEO is wrong. Today's announcement is as bad as it seems.

3. The frustration: "We went to bat for them."

4. The future of ConAgra's campus is up in the air. (But also see #7)

5. Having 4 Fortune 500 companies in Omaha is still pretty remarkable

6. The move was a business decision.

7. Plans for the ConAgra campus have been in the works for a while under Omaha's master development plan.

Hank

Re: ConAgra moving to Chicago

Postby Hank » Thu Oct 01, 2015 4:09 pm

Omaha restaurants should remove all conagra products from their tables.

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Re: ConAgra moving to Chicago

Postby twiztid1 » Thu Oct 01, 2015 4:22 pm

You really have a deal with the devil when you're a publically traded company. May the Ricketts family ruin Wrigley Field.

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Re: ConAgra moving to Chicago

Postby GRANDPASMUCKER » Thu Oct 01, 2015 4:31 pm

Hank wrote:Omaha restaurants should remove all conagra products from their tables.


This company makes much of the food served at Restaurants. As we know more then half of the Restaurants are national franchises. There is no way Applebys is going to allow their Omaha Franchises to stop serving the company approved french fries or onion rings just because ConAgra left Omaha. There is no way Burger king is going to allow its Omaha Franchises to stop serving their fries because they are mad at ConAgra. There aint going to be no boycots.

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Re: ConAgra moving to Chicago

Postby RNcyanide » Thu Oct 01, 2015 5:26 pm

skinzfan23 wrote:From Channel 7:
Omaha Mayor Jean Stothert had a lot to say about ConAgra's bombshell annoucement today. Here are the key points:

CONAGRA CUTTING 1,500 JOBS, MOVING HEADQUARTERS TO CHICAGO

ConAgra is cutting about 1,500 jobs, or approximately 30 percent of its global, office-based workforce, and moving its headquarters to Chicago from Omaha.
MORE
1: "Most of the cuts are management and salaried positions"

2. The ConAgra CEO is wrong. Today's announcement is as bad as it seems.

3. The frustration: "We went to bat for them."

4. The future of ConAgra's campus is up in the air. (But also see #7)

5. Having 4 Fortune 500 companies in Omaha is still pretty remarkable

6. The move was a business decision.

7. Plans for the ConAgra campus have been in the works for a while under Omaha's master development plan.


Jean's upset.

I thought that plan by HDR was wishful thinking. I'm gonna have to go back and look at it to see what they all had planned for it. I know they had two residential towers on the northernmost edge of the park...
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Re: ConAgra moving to Chicago

Postby ricko » Fri Oct 02, 2015 12:51 am

NovakOmaha wrote:Lame excuses. Illinois & Chicago offered incentives yet Conagra asked nothing from Nebraska or Omaha. Boss lives in Chicago so company moves to Chicago. If the next boss lives in Ogalala the company moves there? (Not that there is anything wrong with Ogalala) Strategic needs my behind. Attract and retain? My behind. Man up and admit that you want to live in Chicago and don't want to move or commute, you coward. Chicago is a world business capital yes, and there are both commercial flights and the CAG fleet that can get you there in an hour. There are also phones and internet. The excuses are pitiful. The company made a lousy decision to acquire Ralcorp and Omaha is paying the price. As always, bad management decisions led to this outcome. All Omaha board members quit a while ago. Same thing happened to Enron. Deja Vu all over again.

This happened to UP a few times and the HQ ended up back in Omaha.


I was about to post with the same theme----you took the words right out of my mouth (or out of my fingertips). I don't care how the OWH tries to sugar coat/softpedal this-----Omaha just got screwe/d royally by the new CEO. There's a lot of precedent for what he just did.


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