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?


http://www.suntimes.com/news/watchdogs/12299030-452/chicago-parking-meter-company-wants-more-money-mayor-balks.html 

http://www.chicagotribune.com/news/local/ct-met-rahm-emanuel-parking-meter-lease-20120630,0,1767149.story?dssReturn 

http://www.selectsmart.com/DISCUSS/read.php?16,945663 

http://www.bloomberg.com/news/2010-08-09/morgan-stanley-group-s-11-billion-from-chicago-meters-makes-taxpayers-cry.html

http://www.rollingstone.com/politics/blogs/taibblog/new-york-to-repeat-chicago-s-parking-meter-catastrophe-20120613

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