| James D. Oberweis | |
|---|---|
| Born | June 10, 1946 (age 65) Aurora, Illinois |
| Residence | Sugar Grove, Illinois |
| Nationality | American |
| Occupation | businessman and investment manager |
| Religion | Catholic[1] |
James D. "Jim" Oberweis (born June 10, 1946) is an American businessman and investment manager. He is most notable as 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.
Contents |
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.[2]
In 1968, he 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.[3]
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.[4]
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.[2]
Oberweis has sought elective office five times, but has never succeeded.
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 (10,000 a day) 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]
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.[9]
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.[10] 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 only 47% of the vote. He lost to Foster again in November, getting only 42%.[5]
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.[11]
Oberweis is running for the 25th State Senate seat currently held by Chris Lauzen, his former GOP primary rival in the 2008 congressional race. He officially announced his bid in September 2011.[12]
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,[13] and as a trustee of the American Chess Foundation and the Chess Trust Fund.[2]