Gypped Again
Shortshanks undervalued the meter sales by hundreds of millions, probably billions of dollars:
- From new financial reports, the company that controls Chicago’s parking meter system is raking in the quarters–millions and millions of them.
According to an article in today’s New York Times, Chicago Parking Meters, LLC is going to be just shy of the $75 million dollars in revenue the company had projected it would make in 2010.
The Expired Meter with CBS 2 News had broken the story back in November of 2009, that internal documents from the company estimated its revenues for 2010 to be around $75 million. With projected expenses of $15 million, the company was looking to generate nearly $60 million in profits for 2010. It’s these numbers that seem to indicate to many that the city underestimated the true value of Chicago’s 36,000+ parking meter system.
So instead of actually raising the parking meter rates itself and reaping the benefits, Shortshanks and the city take a quick $1.15 billion, most of which has already been spent. In the meantime, the company (Chicago Parking Meters LLC) is seeing nothing but black ink in its future:
- “We view the company’s business-risk profile as excellent,” analysts for Standard & Poor’s wrote in their report, citing high revenues and “the strong concessionaire protections” guaranteed in the agreement.
Let's review:
- City gets $1.15 BILLION up front (which is all but spent already);
- CPM LLC generates $60 million in profits the first year alone.
- 75-year lease times $60 million = $4.5 BILLION
And that was assuming parking rates remain static - which they won't as the rate increases are currently set at 20% for 2011, 17% in 2012, 14% in 2013, with further increases indexed to inflation.
Guess what taxpayers? We got fucked.
Guess what taxpayers? We got fucked.
Labels: money questions
posted by SCC at 12:07 AM
89 Comments:
TERM LIMITS.
And yet the fake Reverands of the West and South sides's will gladly deliver another Daley victory, and there is nothing we can do to stop it.
I fully support Scott Waugespuck (?) but The Machine will tear him apart.
Detroit II.
Well, when the city goes kaput...there won't be anybody left to park anywhere and the meter company will die.....
Will the last person out of the city please turn off the red light cams....
Daley and every Aldermen should be voted out of office.
Any where we can find out who are the investors ( ok investors may be the wrong noun, perhaps insiders?) in this company?
The Aldermen as well as the Mayor are responsible for the parking lot fiasco.
We need qualified people to run our city government and so far we do not have them.
Time to elect new people.
And yet, here I was walking around thinking I was still a virgin.
I still don't understand why the private meter company's vehicles are registered to the city.
Gave em like 5 bucks today for parking while at the yoke on Michigan ace, I'm such a yuppie!!
Stupid fucking Mayor!
Da Pelon
Didn't our leaders ever play Monopoly as kids? Cripes.
Another good reason to vote out all incumbents. These stupid aldercrooks pushed the parking meter deal through the city council in record time. Either they were too stupid to figure out they were being scammed or they have an interest in the parking meter company. Who owns the company and how many of our aldercreatures and their friends or family members have a piece of it?
Maybe Avis Lavelle can enlighten her former colleagues and Peter Karl can do a documentary.
This truly is a crime and needs to be challenged by a city-wide coalition of aldermanic candidates and a single mayoral candidate.
It's the only way to have a chance against Daley and his straw-boss fake Revruns. The challengers will need to appeal to about 30% of black voters for a mayoral candidate and 51% for each aldermanic seat. Its a tall order, but its the only way to beat him. Hispanics don't vote in large enough numbers and there aren't enough whites left to do it. On top of that, if he has a third stooge run like last time, he's unbeatable.
Only a true rainbow coaltion can save this city.
keep voting him in officers and you will see there will be nothing left to run cause everything will be run by private companies making more and more money sad day !
This sale was absolutely stupid!! From 2013, assuming the meter rate remains static, CPM LLC will rake in about 6.9 BILLION DOLLARS!!! Da Mayor really screwed the city and himself on this deal.
The aldermen were just as dumb to approve the move, but seeing as they are Daley's minions why would they vote it down.
CN said...
I still don't understand why the private meter company's vehicles are registered to the city.
8/01/2010 03:23:00 AM
If LAZ is part of the company, then I have seen those with reg plates and never "M" plates.
they aren't gyping me because my family will be ex chicago and illinois residents in the not to distant future--- robin hood and his band of fifty thieves can steal all they want....
Why dont we break this contract. All we need to do is tell the company our fine City will not enforce parking meter tickets. What can they really do then if we park on our city streets but dont feed the private meters???? But it must take someone with some balls to do this.
Anonymous said...
The Aldermen as well as the Mayor are responsible for the parking lot fiasco.
We need qualified people to run our city government and so far we do not have them.
Time to elect new people.
8/01/2010 01:59:00 AM
Scott Waguespack voted against the parking meter contract and declared it a fiasco from the start. For this he is being ostracized and cut out by daley. The enemy of my enemy is my friend. He is the only alderman who has consistently gone against daley at the peril of his own career.
If he runs, I will vote for him and work for him and do whatever he needs, circulate petitions, work the election, whatever.
If he turns out to be the one to present a credible alternative to daley he will get my complete support and effort.
I understand no one is perfect but I/we cannot just sit back waiting for the perfect candidate to challenge daley. Waguespack wont fuck the city and the police department like daley has, that much is certain.
He is the only one who has dared step up and declare daley a disaster to this city. He is not and never has been "connected" to the regular guys.
SCC Fan said...
"...I fully support Scott Waugespuck (?) but The Machine will tear him apart..."
8/01/2010 12:46:00 AM
PUH-leeez!!!
NO ALDERMAN on the Chicago City Council is worthy of a vote for mayor. Even if a couple of them can say they voted against the parking meter deal, they still have voted WITH Daley on everything else. That does not make them a breath of fresh air, merely more sewer smell with a different face.
Even IF they could beat Daley because the voters have had enough of the smug little bastard, the Daley Crime Family will still OWN them!
Best to look for a fresh face OUTSIDE of the council and the city. Otherwise its just the same old shit, different day!
It's spelled gypped.
The people of chicago need to wake up and realize that Daley and his crew are TERRIBLE BUSINESS MEN! Daley's dictatorship over chicago has gone on way tooooooLONG! Remeber Daley rammed that parking meter scam through city council at lightning speed.
What else is new, the taxpaying citizens get fucked again. The connected companies make out, the company that brokered the deal made out (employer or mayoral brother bill daley) everybody makes out except the people who own the franchise, US!
We always get fucked, that's the daley way.
It will be blamed on the police contract again soon, anything to deflect criticism.
Fucking scum criminal daley, him and his whole goddamned rotten fucking family can rot in hell.
Any where we can find out who are the investors ( ok investors may be the wrong noun, perhaps insiders?) in this company?
8/01/2010 01:24:00 AM
The company is a subsidiary of Chase Bank. Guess who is/was a chairman?
William Daley. Brother of Mayor Daley.
And when Daley wins re election, they plan to put parking meters in every residential neighborhood in the city, that's right, in front of your house.
Now go re elect Daley. He not only expects it, he demands it.
All These Things That Are Written About The Mayor,Are Meaningless. He Is "The Boss" We Are His Subjects.
He Will Be Re-Elected. There Is "NOTHING" We Can Do About It.
PS: Have A Nice Day ????
Avis Levell Brokered this deal, she was the Mayors chief of staff then went to work for the meter folks.
REALLY LEGIT.
Ya wonder why the Daley Inc. media spin machine is so fixated on keeping the cost of Police and unionized employees front and center in the minds of the public?
To distract people from bullshit like this and plant it permanently in their minds that municipal budgetary woes are the fault of of the above for "not sharing the pain" of give-backs, unpaid furlough days and reduced hours to "help" the city.
More of this shit is going to percolate to the surface like the grinning skulls at Burr Oak...
EVERYBODY said this was going to be a BAD deal for the tax payers but shorty and the alderwhores were fixated on money right now instead of long-term financial health of the city.
God Almighty, they manage money like crack-heads who won a law suit!
After the last dollar is spent, the last Escalade is left crashed on a hydrant, (28" rims and waaayy expired temp. plate taken... of course) the last piece of gaudy jewelry is pawned and the very last rock is smoked; these fools will be the same as they ever were!
NO INCUMBENT ALDERWHORE SHOULD SURVIVE THE NEXT ELECTION CYCLE STILL IN OFFICE!
We hope that situational awareness and political savvy has increased among the captive taxpayers of this city.
We hope the decent people register and vote in record numbers to offset the traditional Daley Inc. voting blocs.
For cryin' out loud, this is OUR CITY and yet we have no wholly accountable representation and we're told to stuff our expectation for a reasonable showing/return for our tax dollars!
This long term misuse of taxpayer's hard earned money should be a hanging offense at the hands of the people.
Have the people had enough of being ass-fucked by Daley Inc. yet? No lube... Yet again and again... Repeatedly told "but it's good for everybody."
Not so in our book by any means whatsoever. How about YOU?
If we ran our houshold finances like these assholes run the city's, we would DESERVE TO BE HOMELESS!
This city is many miles under water and the bottom gets further away the more it sinks...
Englewood is coming to a neighborhood near you.
http://www.chicagobreakingnews.com/2010/08/oak-lawn-shooting-bowling-alley-brunswick.html
Has there been any investigative research done, to see if any of riches' relatives are in any way profiting from this deal, hmmmmm?
You can't fix GREED !!!!
It's time to be rid of the Monarchy.
Vote the greedy bastards out of office !!!!
"I still don't understand why the private meter company's vehicles are registered to the city."
Because they are also ripping off the state by getting municipal plates which are $5 for life instead of $100 year.
“Lie, Cheat, Steal”
Daley learned his lessons well!
www.ThePUschool.com
Has anyone else noticed that the parking kiosks have solar panels on top of them? I wonder what covering tem up with, say, a piece of cardboard would do?
News about the parking meters. Makes me sick.
http://www.chicagonewscoop.org/company-piles-up-profits-from-citys-parking-meter-deal/
All alermen need to be replaced who voted yes on this deal.
- term limits for mayor/aldermen
2 terms ONLY!
- number of aldermen reduced to 25
- Part-time job = part-timepay
$25K yearly, no pension, partial
healthcare benefits.
- reduced bugets, expense accounts.
- Pay deducted for each meeting
missed
- vacant position to be filled by
vote from ward residents
LAZ Parking is an subsidiary of Morgan Stanley. William Daley is a senior executive with Morgan Stanley. He is in charge of Midwest Operations for Morgan Stanley.
Thermite
Meanwhile, small business across the city is dieing. My business is down almost 40% since the meters started going up and in addition I have had several petty violations which I have had to pay. Meanwhile a business down the street has no meters in front of it, they fill the sidewalk with displays and carts , and fill the alleys behind it with skids full of things.I am close to closing my business after being there for 31 years.
it never ends. We are doomed to 3rd World living soon in Crookago.
Shortshanks needed the quick cash for the Olympics.
So you are going to hold out to us that the Mayor is a competent, dynamic, intelligent leader and a good steward of the public interest? I challenge ANYONE on this blog to demonstrate to this citizen troller some achievements for which the Mayor is deserving of accolades. How about it Sneed, Mitchell and the rest of the media peanut gallery? Batter up. And don't give me the beautiful lakefront bullshit. Burnham and others before Daley(s) are responsible for that. This is the kind of story that has public malfeasence and misconduct written all over it. And yet he will be at some public event and people in the crowd will be pictured with him smiling and yucking it up until he starts something like the oil, carp and drinking water joke. Daley has almost single handedly turned this from the "City that Works" to the "Welfare City". And he did it as follows: pander to every two bit acitvist regardless of personal disgust for them, what they believe and how their supports live. Throw them a bone now and again and then hit them up at election time for support. I still scoff anytime Daley says he cares about Chicago. Bullshit, he cares about power and legacy only.
Hrm, I am no defender of the corrupt government, but I think this may not be nearly as bad of a deal as you think.
The present value of 4.5 billion over the next 75 years is SIGNIFICANTLY less than 4.5 billion.
It might even be coming close to the 1.5 billion we got up front.
Ya, based on this calculator : http://www.calculatorsoup.com/calculators/financial/present-value.php
75 years of 60 million dollar payments is worth 1.5 billion today, assuming a 4% rate of interest.
Think of the lottery. Ignore taxes. You can take 100 million over the next 20 years, or 40 million today. so less than half the value for a 20 year delay. 75 years would be half of half of half etc.
Daley you Jerk you ruined this city.
Daley studying budget options 'very carefully'
---
"Mayor Richard Daley on Saturday said he was reluctant to consider several options being discussed to close the gap."
"The mayor said he doesn't want to tap cherished special property tax district revenue. Nor does Daley want to "throw everything on (the) back" of city union workers by trying to extract more concessions from labor leaders as he did last year."
"Daley also ruled out tax and fee increases"
"Daley offered no concrete ways he prefers to deal with the shortfall."
"...everything except tax and fee increases are on the table:
"You're looking at everything,"
"You have to look at this very carefully."
"I don't want to say 'Yes on this,' or 'No on this,'"
---
WATCH OUT FOR A RAID ON OUR PENSION FUND TO BALANCE THE CRIMINAL'S BUDGET!
This criminal will do or try anything!
Be ever vigilant!
We are in for another economic recession in 2011 or 2012. It will be much worse than before. We should:
1. Get out of debt.
2. Stock up on supplies.
3. Have a way to secure and protect your home.
4. Get liquid.
TERM LIMITS.
8/01/2010 12:37:00 AM
ditto
the Reader reported on this last year....
his nephew work on that deal
lets vote this time and vote him out
I laugh when the "analysis" showed Daly got ripped off or the classical "he didn't know what he was doing" line.
Daly and his criminal bandits sure did know what they were doing. They ran the numbers too and anyone with an ounce of brain knew that this company was getting one sweet deal.
It's obvious that the Mayor and the Alderman probably benefited personally from this company's "deal".
Anonymous Anonymous said...
Any where we can find out who are the investors ( ok investors may be the wrong noun, perhaps insiders?) in this company?
8/01/2010 01:24:00 AM
CNBC and Fox Business Network did an extensive piece on how companies are buying up American owned utilities and fixed assets (like water, highways, tollways, canals, seaports, etc...). And where does the money come from? It comes from? It comes from Dubai, Saudi Arabia, China, Switzerland, Luxembourg and the Nordic countries.
Yes sir, America is being sold off bit by bit to foreign interests.
Anonymous Guns of Liberty said...
This sale was absolutely stupid!! From 2013, assuming the meter rate remains static, CPM LLC will rake in about 6.9 BILLION DOLLARS!!! Da Mayor really screwed the city and himself on this deal.
The aldermen were just as dumb to approve the move, but seeing as they are Daley's minions why would they vote it down.
8/01/2010 08:05:00 AM
Once again, the alderman and Daly were not "dumb". They knew what they were doing! They gave a sweet deal to an insider.
It's like me selling my 2010 Toyota Prius which has 8700 miles for $5000 and then I tell my wife "oh sorry honey, I didn't know what I was doing, I didn't crunch the numbers right".
F-U-C, K-E-D, A-G-A-I-N,
(M-I-C), (K-E-y), (M-O-U-S-E)
All sing along now, just change the letters to the Mickey Mouse song, to 'Fucked Again'.
It should have been voted on by the citizens and not the idiot aldermutts.
Anonymous said...
Has anyone else noticed that the parking kiosks have solar panels on top of them? I wonder what covering tem up with, say, a piece of cardboard would do?
8/01/2010 11:39:00 AM
They are fragile. A car or truck kicking up a rock can easily hit one and poof, there it goes. Just saying.
Anonymous said...
We are in for another economic recession in 2011 or 2012. It will be much worse than before. We should:
1. Get out of debt.
2. Stock up on supplies.
3. Have a way to secure and protect your home.
4. Get liquid.
8/01/2010 02:16:00 PM
Have a supply of gasoline on hand, with fuel stabilizer. Have two copies of Mad Max and plenty of porn stored. Needless to say, ammunition, cigars and Bic lighters.
And clean socks and underwear. And toothpaste and dental floss.
Didn't our leaders ever play Monopoly as kids? Cripes.
Good one.
Out in the country this weekend - Illinois / Wisconsin border. Found new house and made an offer.
If we can find a sucker to buy our, before everyone else flees Chicago, we'll be well ahead of the game, in a land of lower taxes and without parking meters or Daley's bullshit!
they aren't gyping me because my family will be ex chicago and illinois residents in the not to distant future--- robin hood and his band of fifty thieves can steal all they want....
8/01/2010 08:06:00 AM
Plan ahead if you are going to relocate.
Illinois, Michigan, Tennessee, Florida, Texas, Nevada and Alaska, will not tax your pension.
If you are somewhat wealthy, it probably doesn't matter, but if you need every pension dollar, where you scoot is something to really think over.
Also, Wisconsin, Indiana and Arkansas are not pension income friendly.
to previous post on robin hood and 50 alderthieves...robin hood stole from the rich to give to the poor... mayor and alderthieves steal from the poor to give to themselves and the rich.
Anonymous said...
Thermite
8/01/2010 12:03:00 PM
And lots of it
"Shortshanks undervalued the meter sales by hundreds of millions, probably billions of dollars."
"Whaddaya talkin' about?? I got my kicback!"
- Mayor Daley
"TERM LIMITS"
Yep. One term in office, one term in prison (hopefully longer than the term in office!).
"The people of chicago need to wake up and realize that Daley and his crew are TERRIBLE BUSINESS MEN!"
On the contrary. The Demented Dwarf, the aldermen and their connected, relative/friend-owned companies always come away big. What do they care if the city makes/loses money along the way?
At this point they all realize their time is short, they've got to steal all they can before the cash cow dies.
Once they make their escape, it'll be far too late to do anything.
The media are a bunch of idiots, by and large. Even if they ask the right questions, they don't stick with holding these animals accountable.
Detroit. So far, yet so close.
Demand better in 2011!
(OT) Look at this another police dept. gutting more coppers crime is running wild are we next?
http://www.stltoday.com/news/local/illinois/article_dfb230c2-9bf3-11df-9731-0017a4a78c22.html
Juvy Probation said...
Meanwhile, small business across the city is dieing. My business is down almost 40% since the meters started going up and in addition I have had several petty violations which I have had to pay. Meanwhile a business down the street has no meters in front of it, they fill the sidewalk with displays and carts , and fill the alleys behind it with skids full of things.I am close to closing my business after being there for 31 years.
8/01/2010 12:09:00 PM
Look at the small town of lagrange, no parking meters a big free parking garage, no empty business and business is booming! The town is clean and the animals have not been able to destroy it as yet thank God!
As the illegals and welfare pos all are welcomed into shitcago! I believe it was friday when oily eddie burke stood at a microphone with 300+ illegal mexicans behind his fatass and stated "these are good people who only come to our city to work"! yea ok eddie wtf and to take all our hard earned tax money that you freely give away you assclown! Hows that million+ police detail doing carting your ass? what a waste!
"WATCH OUT FOR A RAID ON OUR PENSION FUND TO BALANCE THE CRIMINAL'S BUDGET!"
Is there much left? The city hasn't been contributing their share.
Scott Waguespack voted against the parking meter contract and declared it a fiasco from the start. For this he is being ostracized and cut out by daley. The enemy of my enemy is my friend. He is the only alderman who has consistently gone against daley at the peril of his own career.....
If he runs, I will vote for him and work for him and do whatever he needs, circulate petitions, work the election, whatever.....
This Alderman will do anything to get your vote. Even write on this blog as it were someone else. The real story is that Scott Waguespack is an moron who only thinks about himself. If he were to run and win (yea right - not a chance) but lets say it happened, then everyone who hates Daley (me too) would take Daley back over this knuclehead. Nothing would get done then, Scott stay off the blog.
Anonymous said...
We are in for another economic recession in 2011 or 2012. It will be much worse than before. We should:
1. Get out of debt.
2. Stock up on supplies.
3. Have a way to secure and protect your home.
4. Get liquid.
"Truer" words have seldom been spoken.
I've been VERY fortunate in life.
Right now I live by this concept.
CREAM
Cash
Rules
Everything
Around
Me
If the SHTF (and it might), don't you DARE expect your ATM to work, or to "just go to the bank".
I don't expect anyone to be impressed, but I have $10K in 20-dollar bills in the house.
And Tomoko-San knows that if I tell her to leave, she will do it without hesitation...taking $8K (and a Glock) with her and head for Montana.
I'll get to the other $2K (God willing) and find my way there...somehow.
NOTHING LIKE DALEY'S BODYGUARDS LEAVING AFTER 4 HOURS WHEN IT IS A 12 HOUR DAY! SOMEONE HAS TO START INVESTIGATING THIS. WHEN DICKIE IS OUT OF TOWN IN GRAND BEACH, WHAT ARE THESE NIPPLES DOING. A FEW GO WITH HIM LIKE HE'S THE PRESIDENT WHILE THE 2 AND I REPEAT 2 COMMANDERS STAND BY AT HOME COLLECTING CITY MONEY. THIS IS A DISGRACE.
You got that right, we did get fucked. I don't believe that a mayor who asks middle income city workers to take more and more days off without pay, didn't take time to do the math. I wonder if he just didn't care about us "proles" since there was something in it for him-$$$.
A significant reason why this company has such low overhead is because the city gave them control of the profits of the meter and the city is the one footing the bill for the ticket writers. I don't know if the city is getting that money but they could have got it all if they would have kept out resources but its must be easier to demand says off without pay and layoffs because goodness forbid the Mayor has to use city revenue to get us out of debt.
The enemy of my enemy is my friend. He is the only alderman who has consistently gone against daley at the peril of his own career.
---------------------
Stop campaigning for this guy. You are getting sickeneing in each post. Scott this, and scott that. Where was he when we needed him? I haven't heard of the guy except now that you or he or you nad he wants him to run for mayor. Maybe HE should meet with the police to tout his record and not be so weak to let you do it here.
1512 and 1541 crashed into each other at WAshington and Central while on an emergency response. All 4 officers in serious but good condition to Cook Co. and Mt. Sinai trauma centers.
New Harbor going in at 31st Street. Work being done all day and into the night! Somebody must be in a hurry! Money for a harbor and overtime to put it in but no money for city services!!! What a joke!
"CNBC and Fox Business Network did an extensive piece on how companies are buying up American owned utilities and fixed assets (like water, highways, tollways, canals, seaports, etc...). And where does the money come from? It comes from? It comes from Dubai, Saudi Arabia, China, Switzerland, Luxembourg and the Nordic countries.
Yes sir, America is being sold off bit by bit to foreign interests.
8/01/2010 05:10:00 PM"
the only thing that enables these things to happen is our civil laws.
these foreign investors can't take any of the purchased assets with them if our civil laws are changed to not permit them to.
nor can they collect on our debts to them, if our civil laws are also changed to not permit them to.
we, as citizens, have the physical power to deny these foreigners control of our economy, but do we have the will to do so?
The taxpayers got fucked, because Shorty simply doesn't care about them. If anything, he hates them for resisting him.
He's evil, greedy and treacherous, but he's not stupid. He got his upfront and who gives a shit about what happens later. He's old, he'll be dead soon one way or the other and his megalomaniacal greed still drives him onward.
He's like Ahab in Moby Dick. He could get run over by a tour bus, and he'd drag his bloody crushed carcass to the nearest cop or firefighter......to spit on them one last time before he went to Hell.
The Mayor has cost the city over 1 billon dollars in lost revenue by selling the meter business. The Mayor has cost the city millions in the hired truck scandal, the Mayor has cost the city millions in the northerly island/ Meigs field, the Mayor has cost the city millions in the cost over run for Millennium Park and the failed bid for the Olympics.
In business when you repeatedly make bad decisions you will be fired.
Can we please fire the Mayor! I will vote for anyone other than him. Should Mickey mouse run or even blago the moron they get my vote
Anonymous said...
Hrm, I am no defender of the corrupt government, but I think this may not be nearly as bad of a deal as you think.
The present value of 4.5 billion over the next 75 years is SIGNIFICANTLY less than 4.5 billion.
It might even be coming close to the 1.5 billion we got up front.
Ya, based on this calculator : http://www.calculatorsoup.com/calculators/financial/present-value.php
75 years of 60 million dollar payments is worth 1.5 billion today, assuming a 4% rate of interest.
Think of the lottery. Ignore taxes. You can take 100 million over the next 20 years, or 40 million today. so less than half the value for a 20 year delay. 75 years would be half of half of half etc.
8/01/2010 01:44:00 PM
THE MONEY IS GONE ALREADY. That whole lottery analogy would have worked if Daley hadn't blown through the meter money like a crackhead would blow through lottery winnings. The money didn't last two years.
If you win $100 million dollars in the lottery this year and take a lump sum payment of $40 million, and you go bankrupt by 2012...
Are you going to pull millions out of your ass in 2035?
Re: Incumbents
It's easy to say "Vote incumbents out!", but harder to accomplish if an incumbent has NO opponent. :(
Re: Fake Reverends
In a lot of those churches, the reverend is worshipped. Unfortunately, some/most (?) idol worshippers don't see this as idol worshipping and modern day brainwashing slavery. :(
Anonymous said...
The enemy of my enemy is my friend. He is the only alderman who has consistently gone against daley at the peril of his own career.
---------------------
Stop campaigning for this guy. You are getting sickeneing in each post. Scott this, and scott that. Where was he when we needed him? I haven't heard of the guy except now that you or he or you nad he wants him to run for mayor. Maybe HE should meet with the police to tout his record and not be so weak to let you do it here.
8/01/2010 11:32:00 PM
Who do you suggest? Come up with an alternative to daley?
Has anyone else noticed that the parking kiosks have solar panels on top of them? I wonder what covering tem up with, say, a piece of cardboard would do?
Nice try, but these kiosks are like little golden idols to the company that runs them. They are looked at by maintenance personnel EVERYDAY. The payroll cost in doing this is insignificant compared to the revenue they generate.
Has anyone else noticed that the parking kiosks have solar panels on top of them? I wonder what covering tem up with, say, a piece of cardboard would do?
8/01/2010 11:39:00 AM
Leave the meters alone Cool Hand Luke. Break them and the parking ticket Nazis ticket the poor schmo that needs to park there.
To the guy that thinks the meter deal wasn't bad, you never took a business course did you? When a business stars selling off it's assets, it has a "Going Out Of Business" sign in the back room waiting to go up.
To "Montana" man: 8 grand to get your wife off to Montana sounds cheap. Good luck, but you forgot the rifle in the 'forty watt range'.
Anonymous 1:44 PM:
You are partly correct. Money up front is worth more now than money coming in later.
However, note two things.
First: by your calculation, the 75-year lease on the meters is worth $1.5 billion - but the city got only $1.15 billion. So we are out $350 million to start with.
Second: the agreement includes automatic rate increases, so the future revenue stream to the buyers will increase, meaning the current value is even greater.
We got ripped off good. What's really embarrassing is that the Daleycrats didn't even take the lion's share for themselves; they put this deal through in return for commissions and consultant fees that were a tiny fraction of the gain to the buyers.
In other words, they sold us out cheap.
Just a Civilian (who hates the Daleycrats, and despises the citizens who vote them back in)
The sale price should have been $2 Billion.
I do not remember all of the details but it was announced that a big mistake had been made selling the meters for $1 billion when they should have been sold for much more
Now all sales have to be approved by a committee or some agency, I do not remember which..
Why dont we break this contract. All we need to do is tell the company our fine City will not enforce parking meter tickets. What can they really do then if we park on our city streets but dont feed the private meters???? But it must take someone with some balls to do this.
8/01/2010 08:12:00 AM
This actually is a great idea except there is one problem. When the matter ends up in court the City will be ordered to repay the $1.5 billion and there's the rub. Where's the money going to come from. IT'S GONE!! LONG GONE!!!
Anonymous Anonymous said...
"CNBC and Fox Business Network did an extensive piece on how companies are buying up American owned utilities and fixed assets (like water, highways, tollways, canals, seaports, etc...). And where does the money come from? It comes from? It comes from Dubai, Saudi Arabia, China, Switzerland, Luxembourg and the Nordic countries.
Yes sir, America is being sold off bit by bit to foreign interests.
8/01/2010 05:10:00 PM"
the only thing that enables these things to happen is our civil laws.
these foreign investors can't take any of the purchased assets with them if our civil laws are changed to not permit them to.
nor can they collect on our debts to them, if our civil laws are also changed to not permit them to.
we, as citizens, have the physical power to deny these foreigners control of our economy, but do we have the will to do so?
8/02/2010 12:13:00 AM
This is a problem made by out own faults and shortcomings. We have no one to blame but ourselves.
America's total debt to it's GDP ratio is at 360 percent. Right before the Great Depression that ratio was at about 190 percent.
We as a nation, our local governments, businesses and people have lived way beyond our means.
No nation can live beyond it's means and not suffer the consequences. At the same time, America can not go ahead and retroactively change the laws as you suggest. If we did that, then foreign buyers would stop purchasing our treasury bonds and then the music would stop.
Dear SCC,
With such a differential, it is definitely worth an investigation on just where that differential went.
I suspect the Caymans. Possibly Switzerland.
It is possible to get a subpoena for that. But not likely.
Ann T.
Anonymous said...
Why dont we break this contract. All we need to do is tell the company our fine City will not enforce parking meter tickets. What can they really do then if we park on our city streets but dont feed the private meters???? But it must take someone with some balls to do this.
8/01/2010 08:12:00 AM
This actually is a great idea except there is one problem. When the matter ends up in court the City will be ordered to repay the $1.5 billion and there's the rub. Where's the money going to come from. IT'S GONE!! LONG GONE!!!
8/02/2010 06:47:00 PM
The city can do what it does with everyone else it owes money to, it tells them to go pound salt.
Then it works out a repayment schedule, to it's advantage, and sells some bonds to repay.
Post a Comment
<< Home