Jim Oberweis

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Jim Oberweis
Member of the Illinois Senate
from the 25th district
Incumbent
Assumed office
January 9, 2013
Preceded by Chris Lauzen
Personal details
Born James D. Oberweis
(1946-06-10) June 10, 1946 (age 68)
Aurora, Illinois
Political party Republican
Alma mater University of Illinois, Urbana-
Champaign

University of Chicago
Religion Roman Catholicism

James D. "Jim" Oberweis (born June 10, 1946) is an American businessman, investment manager and politician. He is a member of the Illinois Senate, representing the 25th district since January 2013. He is the owner of Oberweis Dairy, in North Aurora (near Chicago). Oberweis has been a candidate for Governor of Illinois, U.S. Senator, and U.S. Representative.

Education[edit]

After graduating from Marmion Academy in Aurora, Illinois, he attended the University of Illinois, where he joined Phi Kappa Tau fraternity. He received a B.A. from Illinois, and then an MBA from the University of Chicago.[1]

Career[edit]

In 1968, Oberweis became a junior high school teacher. In 1970, he changed careers and became an investment stockbroker. Within a few years, he was promoted to manager of a branch office.

In 1976, he began publication of an investment newsletter, the Oberweis Report, which reported on emerging growth companies. The Report was rated highly among investment advice newsletters. In 1978, Oberweis and his wife established their own investment management company, Oberweis Securities in Aurora, Illinois. Oberweis Securities was very profitable.

In 1986, Oberweis used his gains from Oberweis Securities to purchase control of his family's business, Oberweis Dairy. He remained active in the investment field, however. In 1987, he founded Oberweis Emerging Growth Fund.

In 1989, he established Oberweis Asset Management (OAM). OAM specializes in "small-cap growth equities investing", and has individual accounts for institutional investors and a family of mutual funds for individual investors. As of the end of 2009, OAM had about $900M under management.[2]

Oberweis moved the Oberweis Dairy from Aurora to its present location in North Aurora. He also began a chain of company-owned dairy stores, and has maintained a dairy delivery business to homes in the Chicago area. A franchise program began in 2004, to expand the dairy business outside of northeast Illinois.[3]

Television[edit]

Oberweis became a financial news anchor and host of the show "Catching Winners Early" on the Financial News Network. In Chicago, Oberweis became a regular guest on the Ask an Expert show. Oberweis was also a popular guest on CNBC, CNN and Bloomberg TV.[1]

Political activity[edit]

Oberweis has sought elective office six times, finally succeeding in the 2012 race for the 25th State Senate district seat. His record of losing elections has earned him the nickname of "the Milk Dud".[4]

U.S. Senate campaigns[edit]

In 2002, he sought the Republican nomination for U.S. Senator, but lost in the primary, finishing second of three with 31%.[5]

He ran for Senator again in 2004, and again lost in the primary, finishing second of seven with 24%.[5]

Soon after the primary, the winner, Jack Ryan withdrew due to personal scandal. Some Republicans felt that as the second place finisher, Oberweis should replace Ryan, but the state central committee chose Alan Keyes instead. Keyes lost to Barack Obama by the largest margin for the Illinois U.S. Senate race in history.[6]

Oberweis's 2004 campaign was notable for a television commercial in which he claimed that enough illegal immigrants enter America in a week (70,000 weekly) to fill Chicago's Soldier Field, which seats 61,500.[7]

During his 2004 Senate campaign, Oberweis appeared in television commercials for Oberweis Dairies. The Federal Election Commission ruled that this was an improper corporate contribution to the campaign, and fined Oberweis $21,000 for violation of campaign finance law.[8]

Oberweis is the Republican nominee for the 2014 Senate election, for the seat held by Democrat Dick Durbin.[9]

Gubernatorial campaign[edit]

In 2006, Oberweis sought the Republican nomination for Governor of Illinois. (He started his campaign in April 2005.) He lost in the primary, finishing second of five with 32%.[5] As part of his campaign, he supported amending the Illinois Constitution to define marriage as opposite-sex only.[10] The winner of the primary was Judy Baar Topinka, who was defeated by Democrat Rod Blagojevich in the general election 49.8 to 39.3 per cent, with Rich Whitney, the Green Party candidate, receiving a little over 10.3 per cent.[5] Some media reports indicated that Oberweis received a large number of write-in votes in the November 2006 general election, and he spontaneously re-appeared in some tracking polls at 1 or 2 per cent in October of that year;[11] this was apparently spontaneous and not officially organised.[12] For that reason, the write-in votes were not officially tracked as they would with an official, declared write-in candidate, and a statewide total is not known.

U.S. Representative campaigns[edit]

When U.S. Representative Dennis Hastert resigned his seat (Illinois' 14th congressional district) on November 26, 2007, Oberweis ran to replace him. Oberweis was endorsed by Hastert.[13] He won the primary for the special election for the remainder of Hastert's unfinished term with 56%. He also won the primary for the general election for the next term, with 58%.[5]

However, Oberweis lost the March special election to Democrat Bill Foster, getting 47% of the vote to Foster's 53%. He lost to Foster again in November, 58% to 42%.[5]

Illinois Republican Party State Central Committee[edit]

During the elections for the State Central Committee in March, 2010, Jim Oberweis ran and won a seat on the Illinois Republican Party's State Central Committee representing the 14th Congressional District.[14]

State Senate[edit]

In the 2012 general election, Oberweis won the 25th State Senate seat previously held by Chris Lauzen, his former GOP primary rival in the 2008 congressional race. He had announced his bid in September 2011.[15] He defeated his Democratic opponent, Corinne Pierog, 57.5%-42.5%.

Committee assignments[edit]

  • Appropriations I
  • Labor and Commerce (Minority Spokesperson)
  • Environment
    • Subcommittee on Special Issues
  • Local Government
    • Subcommittee on Special Issues (Minority Spokesperson)
  • Public Health
  • Committee of the Whole

Other accomplishments[edit]

Oberweis is an avid chess player. He attained a USCF rating of 1900 (class A). He supported the Fox Valley Chess Club for many years. He also served as President of the Illinois Chess Association for two years, as Illinois delegate to the USCF,[16] and as a trustee of the American Chess Foundation and the Chess Trust Fund.[1]

Personal life[edit]

Jim Oberweis and his wife Julie have five adult children, two stepchildren, and sixteen grandchildren.[17]

Oberweis is a Roman Catholic.[18]

References[edit]

  1. ^ a b c "Alumni Hall of Fame - James D. Oberweis University of Illinois at Urbana - Champaign". Retrieved February 12, 2008. 
  2. ^ Oberweis Asset Management
  3. ^ Martha Leonard (2004-11-26). "Oberweis looks to enter ice cream market". Business First of Columbus. 
  4. ^ "He's the Milk Dud No More - Oberweis Wins State Senate Seat". CBS2 Chicago. 2012-11-06. 
  5. ^ a b c d e f Illinois State Board of Elections
  6. ^ "Keyes Concedes Says Obama Stands For Evil". Indianapolis Star. 
  7. ^ Ford, Liam; Avila, Oscar. "Oberweis ads rile immigrant groups". Chicago Tribune. [dead link]
  8. ^ CBS2 Chicago
  9. ^ Pearson, Rick (November 22, 2013). "Oberweis to run for U.S. Senate seat held by Durbin". Chicago Tribune. 
  10. ^ "Oberweis injects potentially divisive issue into GOP primary". Crain's Chicago Business. 2006-01-23. 
  11. ^ http://
  12. ^ http://www.dailyherald/com//
  13. ^ "Hastert endorses Oberweis". The Courier News. 2007-12-14. 
  14. ^ Illinois Republican Party State Central Committee Members
  15. ^ Oberweis plans to seek State Senate seat
  16. ^ "United States Chess Federation". 2007-06-01. Retrieved 2007-02-12. 
  17. ^ "98th Illinois General Assembly". Retrieved 2014-03-21. 
  18. ^ http://altweeklies.com/alternative/AltWeeklies/Story?oid=oid%3A146687

External links[edit]

Party political offices
Preceded by
Steve Sauerberg
Republican nominee for U.S. Senator from Illinois
(Class 2)

2014
Most recent