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
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

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

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.[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

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

Oberweis has sought elective office six times, finally succeeding in the 2012 race for the 25th State Senate district seat.[4]

U.S. Senate campaigns

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]

Oberweis is currently seeking to win the Republican nomination for the 2014 Senate election, for the seat held by Democrat Dick Durbin.[9]

See also: United States Senate election in Illinois, 2002, United States Senate election in Illinois, 2004, and United States Senate election in Illinois, 2014

Gubernatorial campaign

See also: Illinois gubernatorial election, 2006

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]

U.S. Representative campaigns

See also: Illinois's 14th congressional district special election, 2008

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.[11] 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]

Illinois Republican Party State Central Committee

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.[12]

State Senate Campaign

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.[13]

Other accomplishments

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,[14] and as a trustee of the American Chess Foundation and the Chess Trust Fund.[1]

He is Catholic.[15]

References

  1. ↑ 1.0 1.1 1.2 "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. ↑ 5.0 5.1 5.2 5.3 5.4 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. 
  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. ↑ "Hastert endorses Oberweis". The Courier News. 2007-12-14. 
  12. ↑ Illinois Republican Party State Central Committee Members
  13. ↑ Oberweis plans to seek State Senate seat
  14. ↑ "United States Chess Federation". 2007-06-01. Retrieved 2007-02-12. 
  15. ↑ http://altweeklies.com/alternative/AltWeeklies/Story?oid=oid%3A146687

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