Monday, July 2, 2012
When does $15 million + $10 million + $15 million = $15 million? Chicago parking meter rip
When does $15 million + $10 million + $15 million = $15 million? When Chicago sells its parking meter system for $15 million a year -- $1.15 billion all at once averaged over 75 years ...
... and the new owners sue Chicago for $15 million a year for street closings ...
... and the new owners sue Chicago for $15 million a year over handicapped parking ...
... and the new owners levy a "street tax" -- raise rates across the board -- which wide spread character I have to imagine adds at least as much to the take as the two fractional charges (closing and handicapped).
Now for the really big question: If Chicago were getting the $15 million one year at a time instead of all at once -- would this multi billion dollar bamboozle be allowed to continue -- for one more year?