James D. Oberweis
Encyclopedia
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
.
, where he joined Phi Kappa Tau
fraternity. He received a B.A.
from Illinois, and then an MBA
from the University of Chicago
.
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.
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.
. 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.
He ran for Senator again in 2004, and again lost in the primary, finishing second of seven with 24%.
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.
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.
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.
resigned his seat (Illinois' 14th congressional district
) on November 26, 2007, Oberweis ran to replace him. Oberweis was endorsed by Hastert. 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%.
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%.
, his former GOP primary rival in the 2008 congressional race. He officially announced his bid in September of 2011.
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, and as a trustee of the American Chess Foundation and the Chess Trust Fund.
Oberweis Dairy
Oberweis Dairy, headquartered in North Aurora, Illinois, is the parent company of several dairy-related operations in the midwest region of the United States...
, in North Aurora
North Aurora, Illinois
North Aurora is village in Kane County, Illinois, United States. A suburb of Chicago, its population was 15,848 at the 2009 census.In its early history, North Aurora was known as "Schneider's Mill" or "Schneider's Crossing" after John Peter Schneider, a German immigrant who established a mill and...
(near Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
). Oberweis has been a candidate for Governor of Illinois
Governor of Illinois
The Governor of Illinois is the chief executive of the State of Illinois and the various agencies and departments over which the officer has jurisdiction, as prescribed in the state constitution. It is a directly elected position, votes being cast by popular suffrage of residents of the state....
, U.S. Senator
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...
, and U.S. Representative
United States House of Representatives
The United States House of Representatives is one of the two Houses of the United States Congress, the bicameral legislature which also includes the Senate.The composition and powers of the House are established in Article One of the Constitution...
.
Education
He attended the University of IllinoisUniversity of Illinois at Urbana-Champaign
The University of Illinois at Urbana–Champaign is a large public research-intensive university in the state of Illinois, United States. It is the flagship campus of the University of Illinois system...
, where he joined Phi Kappa Tau
Phi Kappa Tau
Phi Kappa Tau is a U.S. national collegiate fraternity.-History:Phi Kappa Tau Fraternity was founded in the Union Literary Society Hall of Miami University's Old Main Building in Oxford, Ohio on March 17, 1906...
fraternity. He received a B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
from Illinois, and then an MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
from the University of Chicago
University of Chicago
The University of Chicago is a private research university in Chicago, Illinois, USA. It was founded by the American Baptist Education Society with a donation from oil magnate and philanthropist John D. Rockefeller and incorporated in 1890...
.
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
Aurora, Illinois
Aurora is the second most populous city in the U.S. state of Illinois, and the 112th largest city in the United States. A suburb of Chicago, located west of the Loop, its population in 2010 was 197,899. Originally founded within Kane County, Aurora's city limits have expanded greatly over the past...
. 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.
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.
Television
Oberweis became a financial news anchor and host of the show "Catching Winners Early" on the Financial News NetworkFinancial News Network
The Financial News Network was a television network that operated throughout the United States during the 1980s.-Founding:Financial News Network was founded in 1981 by two men: Rodney Buchser, who had been general manager of KWHY, Channel 22 in Los Angeles and Glenn Taylor. The concept originated...
. In Chicago, Oberweis became a regular guest on the Ask an Expert show. Oberweis was also a popular guest on CNBC
CNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
, CNN
CNN
Cable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
and Bloomberg TV.
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%.He ran for Senator again in 2004, and again lost in the primary, finishing second of seven with 24%.
Soon after the primary, the winner, Jack Ryan
Jack Ryan (Senate candidate)
Jack Ryan is a Republican from the state of Illinois who was forced to withdraw from the 2004 United States Senate race due to an alleged sex scandal involving his relationship with his ex-wife, actress Jeri 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
Alan Keyes
Alan Lee Keyes is an American conservative political activist, author, former diplomat, and perennial candidate for public office. A doctoral graduate of Harvard University, Keyes began his diplomatic career in the U.S...
instead. Keyes lost to Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
by the largest margin for the Illinois U.S. Senate race in history.
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
Soldier Field
Soldier Field is located on Lake Shore Drive in Chicago, Illinois, United States, in the Near South Side. It is home to the NFL's Chicago Bears...
, which seats 61,500.
During his 2004 Senate campaign, Oberweis appeared in television commercials for Oberweis Dairies. The Federal Election Commission
Federal Election Commission
The Federal Election Commission is an independent regulatory agency that was founded in 1975 by the United States Congress to regulate the campaign finance legislation in the United States. It was created in a provision of the 1975 amendment to the Federal Election Campaign Act...
ruled that this was an improper corporate contribution to the campaign, and fined Oberweis $21,000. for violation of campaign finance law.
Gubernatorial campaign
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%. As part of his campaign, he supported amending the Illinois Constitution to define marriage as opposite-sex only.U.S. Representative campaigns
When U.S. Representative Dennis HastertDennis Hastert
John Dennis "Denny" Hastert was the 59th Speaker of the House serving from 1999 to 2007. He represented as a Republican for twenty years, 1987 to 2007.He is the longest-serving Republican Speaker in history...
resigned his seat (Illinois' 14th congressional district
Illinois' 14th congressional district
The 14th congressional district of Illinois covers a part of northern Illinois, including the cities of Aurora, Elgin, DeKalb, and Dixon, and parts of Henry, Whiteside, Lee, DeKalb, Kane, Kendall, DuPage and Bureau counties...
) on November 26, 2007, Oberweis ran to replace him. Oberweis was endorsed by Hastert. 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%.
However, Oberweis lost the March special election to Democrat
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
Bill Foster
Bill Foster (Illinois politician)
George William "Bill" Foster is a physicist and businessman, and the former U.S. Representative for , serving from 2008 until 2011. He is a member of the Democratic Party.-Early life and education:...
, getting only 47% of the vote. He lost to Foster again in November, getting only 42%.
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.State Senate Campaign
Oberweis is running for the 25th State Senate seat currently held by Chris LauzenChris Lauzen
Christopher J. Lauzen is a Republican member of the Illinois State Senate. Lauzen was first elected in 1992, has been re-elected to the State Senate in 1996, 2000, 2002, 2006, and 2010, and ran for Illinois Comptroller in 1998 and Congress in 2008...
, his former GOP primary rival in the 2008 congressional race. He officially announced his bid in September of 2011.
Other accomplishments
Oberweis is an avid chess player. He attained a USCFUnited States Chess Federation
The United States Chess Federation is a non-profit organization, the governing chess organization within the United States, and one of the federations of the FIDE. The USCF was founded in 1939 from the merger of two regional chess organizations, and grew gradually until 1972, when membership...
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, and as a trustee of the American Chess Foundation and the Chess Trust Fund.