Thursday, May 17, 2018

Thanks Again Shortshanks

  • Chicago’s parking meter system raked in $134.2 million last year, putting private investors on pace to recoup their entire $1.16 billion investment by 2021 with 62 years to go in the lease, the latest annual audit shows.

    Four underground, city-owned parking garages took in $34 million in 2017, while the privatized Chicago Skyway generated $99.9 million in cash, separate audits of those assets show.

    Not a penny of those revenues, once a mainstay for city government, went to ease the avalanche of tax increases imposed by Mayor Rahm Emanuel to solve the city’s $36 billion pension crisis.

    That’s because all three of those assets were unloaded by former Mayor Richard M. Daley, who used the money to avoid raising property taxes while city employee pension funds sunk deeper in the hole.
Of course, there were 40+ others assholes complicit in the "deal," though we don't the exact vote records. But it would have been far better to sell some sort of lease up front and take a portion of the proceeds generated than the wholesale giveaway engineered by Shanks.

Labels:

63 Comments:

Anonymous Anonymous said...

How is it that Daley isn’t in federal prison?

5/17/2018 12:02:00 AM  
Anonymous Anonymous said...

Every Alderman who voted yes and are still in Office should be called out and voted OUT!

5/17/2018 12:21:00 AM  
Blogger RICH said...

When Dick Jr gave the meters away for 10 cents on the dollar it was his brother Bill who put the deal together. Now if you enter into a deal knowing it is fraudulent and you are enriching your brother (What was Bill's commission on a billion dollar deal?) It is a crime not that anyone would take Dick Jr to task for it.

5/17/2018 12:28:00 AM  
Blogger Baby"G" said...

And the law firm that brokered the deal, gave employment for life to "Mumbles" and his inner circle! Where was Patrick Fitzgerald on this Pay to Play scheme? On this, one has to agree with the Lil Putz (Rahm), nobody can recall ANY municipal deal that was this bad for the City, as was this Parking Meter fiasco. Anyone over 40 years of age, will not live to see this deal end. What authority gives any Mayor the right to hold an entire city to a contract that goes on for this long? And where was the Media when all of this was going down? If this is the Mumbles Daley Legacy, it is a legacy of corruption and incompetence! Baby "G"

5/17/2018 12:33:00 AM  
Anonymous Anonymous said...

No mayor should have the power to sell a big-ticket city asset without a referendum. No lease of a big-ticket city asset should be for longer than the mayor's term of office. shanks should be in jail for the parking meter deal.

5/17/2018 12:38:00 AM  
Anonymous Anonymous said...

Shanks= worst mayor ever. Nothing but a thief!

5/17/2018 12:39:00 AM  
Anonymous Anonymous said...

Not a cop: I'm not a PO but I'd recommend that new employees open an IRA and contribute generously.

5/17/2018 12:44:00 AM  
Anonymous Anonymous said...

It's the Chicago way.

5/17/2018 12:47:00 AM  
Anonymous Anonymous said...


We weren’t just named the most corrupt city in the country for no reason.

5/17/2018 12:52:00 AM  
Anonymous Anonymous said...

Any politician who enters public service with less than a million in assets and leaves with more should probably go to prison.

5/17/2018 01:37:00 AM  
Anonymous Anonymous said...

And this guy skated, typical but disturbing.

5/17/2018 01:43:00 AM  
Anonymous Anonymous said...

Break the lease say it was illegal!

5/17/2018 02:56:00 AM  
Anonymous Anonymous said...

How much of that 134 million would have been stolen/wasted by the recently named "most corrupt city government in the country"? At least now some private corporations are hopefully re-investing that money and/or paying dividends to their stockholders. What's next? The airports?

5/17/2018 04:34:00 AM  
Anonymous Anonymous said...

The private company involved with purchasing the parking meters spent hundreds of millions of dollars for new meters and other technology. Ur comparing apples and oranges here. I'm not a City advocate btw. Retired, not in good standing.

5/17/2018 04:49:00 AM  
Anonymous Anonymous said...

His dad would roll over in his grave!

5/17/2018 05:00:00 AM  
Anonymous Anonymous said...

Why hasn't the Justice Dept. investigated this malfeasance. ♠️

5/17/2018 05:33:00 AM  
Blogger Mr. SouthSide said...

Daley---another Democrat that flunked Econ 101.

5/17/2018 06:44:00 AM  
Anonymous democRAT for LIFE said...

"...better to sell some sort of lease up front and take a portion of the proceeds generated than the wholesale giveaway engineered by Shanks".


SCC you are not a loyal democRAT for LIFE!

5/17/2018 06:46:00 AM  
Anonymous Anonymous said...

How can there be "any" justice, when the biggest offenders aren't even required to testify or held accountable for their sins? Keep attending church and praying to God that he doesn't hit you in the ass with an oh so deserved lightning bolt that strikes you dead! Oh and by the way, good luck hunting for your casket with cash drawers in it! Better fill the drawers with ice for where you are headed....

5/17/2018 06:54:00 AM  
Anonymous Anonymous said...

Holy CRAP, Did this deal SUCK...Way to go Short Shanks.....Or should I sat...." Oh Magoo, You done it again".....

5/17/2018 06:54:00 AM  
Anonymous Anonymous said...

And, Daley almost got away with selling Midway Airport. But, face it, property taxes are low in the city as compared to the suburbs. If JB wins the governor's race, look for a progressive tax that will tax pensions and social security benefits. JB will be safe as his money is parked in off-shore accounts.

5/17/2018 07:41:00 AM  
Anonymous Anonymous said...

Daley/Vanecko crime family. Sad thing is, there are city workers still kissing ass of these criminals.

5/17/2018 08:02:00 AM  
Anonymous Anonymous said...

Chicago City Council approved the deal 40-5, with the nays coming from Toni Preckwinkle, Leslie Hairston, Rey Colon, Scott Waguespack, and Billy Ocasio. Five aldermen—Helen Shiller, Ike Carothers, George Cardenas, Ariel Reboyras, and Sandi Jackson—managed to miss the vote.

5/17/2018 08:38:00 AM  
Anonymous Anonymous said...

Must read chapter on Daley Family Corruption in new book "Secret Empires" by Peter Schweizer, which goes into great deal about Daley's political corruption and financial malfeasance. Did you know that "Tur" means "goat" in Chechen? Richie and Patrick are eyeballs-deep into Russian and Chinese investment partners. SCC: please start excerpting text from the book, so that your readers know what Trib and Suntimes refuse to disclose to us.

5/17/2018 09:03:00 AM  
Blogger Cuthbert J. Twillie said...

Richie Daley is, without a doubt, batshit crazy.

As such, he should be sued and all the deals he made; like selling the Chicago Skyway, the Parking Meters, and Underground Garages, should be declared Null and Void by a Federal Judge on the grounds that the Mentally Ill cannot enter into binding contracts.

Oh.. and Didn't Richie also 'sell' something to a French Company and that's when all those Cast Iron Bus Stop Benches & Weather Shelters popped on Michigan Ave and the Retailers weren't too f--kin' happy about it. Granted, that's small potatoes in the grand scheme of crazy shit he did but it's more proof Daley's got some screws loose.

It should be a slam dunk for the plaintiffs as a sane person would NEVER do one of these nutty things, let alone ALL of them.

(/sarc off)

5/17/2018 09:06:00 AM  
Anonymous Anonymous said...

Why is anyone surprised? Private enterprise always performs better than government, and specially the corrupt government of Chicago.

If you turned the CPS over to the private sector student performance would increase and costs would go down. That's why the Republicans push for vouchers.

5/17/2018 09:33:00 AM  
Anonymous Anonymous said...

And the law firm that brokered the deal, gave employment for life to "Mumbles" and his inner circle! Where was Patrick Fitzgerald on this Pay to Play scheme? On this, one has to agree with the Lil Putz (Rahm), nobody can recall ANY municipal deal that was this bad for the City, as was this Parking Meter fiasco. Anyone over 40 years of age, will not live to see this deal end. What authority gives any Mayor the right to hold an entire city to a contract that goes on for this long? And where was the Media when all of this was going down? If this is the Mumbles Daley Legacy, it is a legacy of corruption and incompetence! Baby "G"

5/17/2018 12:33:00 AM

I thought that it was interesting to learn that former US attorney Patrick Fitzgerald, is now one of the fired and disgraced former FBI director’s
lawyers on his legal defense team.

5/17/2018 09:38:00 AM  
Anonymous Anonymous said...

Remember” best mayor in the the country”

5/17/2018 10:05:00 AM  
Anonymous Anonymous said...

Worst deal I've ever seen, my goodness a 6th grader could have figured that out

5/17/2018 10:42:00 AM  
Anonymous Anonymous said...

Anonymous Anonymous said...
Break the lease say it was illegal!

5/17/2018 02:56:00 AM

Can’t do. Who says it’s illegal? A bad deal, but not illegal. Even if they could break it, the city doesn’t have the money to repay the 1 billion plus. Daley spent all the money

5/17/2018 11:23:00 AM  
Anonymous Anonymous said...

revenue is not the same thing as profit. the story is horribly misleading in that respect.

the deal looked like a great idea at the time it was announced because the city would not have to fund replacement of the old meters nor service and maintain the new electronic meters.

chances are the city would have mucked up the parking meters and it would have not been profitable for the city anyway given how screwed up the city is with anything it does.

5/17/2018 11:30:00 AM  
Anonymous Anonymous said...

Time for major change let's start with booting rahms pathetic ass out! Think even the liberal media which rahm and the Democratic Party own is finally stepping out of its "comfort zone" and exposing corruption inc. head the Democratic Party! The state just took over cps special education from rahm, Chicago is the most corrupt. City time to follow a man with a plan! Vallas the only 1 running coming out for safety and law enforcement, his family is police so at least he has an understanding of how to right this ship. Crime is out of control, and rahm will pay anything and throw everyone including coppers under the bus. Personally contacted Vallas and his chief of staff called back very pro-police!

Follow Vallas:
https://mobile.twitter.com/paulvallas?lang=en

Any questions contact:
https://vallasforallchicago.com/contact-us/

Gary has no chance he met with Vallas he will drop out soon, he will be back in another capacity when he backs Vallas!

5/17/2018 12:02:00 PM  
Anonymous Anonymous said...

Anonymous said...
How much of that 134 million would have been stolen/wasted by the recently named "most corrupt city government in the country"? At least now some private corporations are hopefully re-investing that money and/or paying dividends to their stockholders. What's next? The airports?
5/17/2018 04:34:00 AM

RAHM tried but the 50 alderthieves won't let it happen...they wanted too much for their piece!
ROFLMAO. How many scumbags can get elected in shitcago???? ALL OF THEM.

5/17/2018 02:35:00 PM  
Anonymous Anonymous said...

Anonymous said...
His dad would roll over in his grave!
5/17/2018 05:00:00 AM

You are delusional....That old fuck is smiling ear to ear....wishes he could have stolen more.

5/17/2018 02:38:00 PM  
Anonymous Anonymous said...

No mayor should have the power to sell a big-ticket city asset without a referendum. No lease of a big-ticket city asset should be for longer than the mayor's term of office. shanks should be in jail for the parking meter deal.

5/17/2018 12:38:00 AM

Any mayor would not want the complications of a big-ticket asset sale referendum or a four year limited lease of a big-ticket asset, but there is no other way to fight corruption and eliminate these politicians from making corrupt, foolish and financially unsound sales of the taxpayer's assets. The parking meter deal should have been vetted by multiple accounting and investment firms, not by the 50 clown circus known as our city council. The unsound nature of the deal would have certainly been discovered and the deal would have been derailed. The discovery would have also saved volpe (architect of the parking meter deal) and shanks from being revealed as foolish or corrupt and subsequently vilified, but sometimes you have to take the bad, them being saved, with an overwhelmingly amount of good, saving the taxpayers. And, if a money trail or a quid-pro-quo trail is ever discovered by a Republican city administration because the DemocRATS will never investigate the deal, volpe and shanks could both be sent to prison. We can only hope, but time is ticking. They could both have the grabber before being found out and prosecuted.

5/17/2018 03:13:00 PM  
Anonymous Anonymous said...

A child born today will be newly eligible for social security retirement benefits, if social security still exists, in the same year the parking meter deal expires. Sixty-two years to go. Ludicrous. Absolutely ludicrous.

5/17/2018 03:30:00 PM  
Anonymous Anonymous said...

Breaking that story a bit early, that’s fair in a campaign year.
Rahm, like Shortshanks broke many Contracts and agreements.
What makes this parking meter deal sofa-king golden?

Alderthieves ran this through in a big hurry too.
Selling the rights to the taxpayers public way should not be legal.
Who’s to challenge, when higher ups are making big money.

In the grand scheme of the ‘what’s left’ fiscal liabilities...
which defaults first: Pensions payments,Parking Meter payments or Sanctuary ID’s?

5/17/2018 03:58:00 PM  
Anonymous Anonymous said...

Very well said.

5/17/2018 06:47:00 PM  
Anonymous Anonymous said...

Morgan Stanley laughing their ass after getting bargain basement price from daley's Chicago meters sale .....while corrupt Chicago democrats keep on raising taxes for middle class

5/17/2018 06:56:00 PM  
Anonymous Anonymous said...

I'm retiring in 6 weeks, liquidating my possessions and heading to the airport on August 1st, gonna move to northern nevada to live and begin anew, who wants to join our community there?

5/17/2018 07:24:00 PM  
Anonymous Anonymous said...

God am I glad I'm not a Chicago cop. The inmates are in charge. Trump should send in the Marines now to dig in before the race riot...Chicago is so fucked.

5/17/2018 08:39:00 PM  
Anonymous Anonymous said...

The Board of Education owned Midway till about 25 yrs ago. Sold it to the City for about 20 million bucks. It's worth about 1 Billion now. Hopefully they don't sell the airport.

5/17/2018 09:09:00 PM  
Anonymous Anonymous said...

Correction. The Chicago Board of Education sold Midway to the City of Chicago in 1982 for 16 million dollars. Somebody gonna bust on the Board of Education for giving away a cash cow?

5/17/2018 09:13:00 PM  
Anonymous Anonymous said...

Just imagine what that little prick would have done to Chicago’s debt if we won the Olympic Games. Generations would be paying for that 15 days of fame.

5/17/2018 10:05:00 PM  
Anonymous Anonymous said...

Why is rahmie replacing street lights that work with ones that aren't as good?

5/17/2018 10:15:00 PM  
Anonymous Anonymous said...

Not a cop: I'm not a PO but I'd recommend that new employees open an IRA and contribute generously.

I was given this advise when I first came on the job (1990). I never liked having to rely on just one income source so I got into deferred comp and opened up a Roth and 3 other IRA's. My wife did the same. To date, we have several retirement accounts working for us. Fast forward to today......I'm happily retired.


LIFE IS GOOD!

5/18/2018 08:48:00 AM  
Blogger Chip Bagg said...

Moron after moron after moron running the city and all its departments.

5/18/2018 01:19:00 PM  
Anonymous Anonymous said...

Rahm could have undone the deal...he didn’t. Morgan Stanley gave Rahm millions. The Daleys and Rahm are all part of the same hypocrisy. Not one comment against Rahm on this deal shows how well insulated that scumbag piece of garbage is. And the Chicago police have to back his opponent immediately. Vallas. If you don’t you are all part of his upcoming victory.

5/18/2018 01:38:00 PM  
Anonymous Anonymous said...

Why is rahmie replacing street lights that work with ones that aren't as good?

5/17/2018 10:15:00 PM


For the same reason he wipes his ass before he shits, so he doesn't have to do that after he shits.

5/18/2018 07:39:00 PM  
Anonymous Anonymous said...

Daley was one stupid fucker. Asshole had no clue about how to budget. What moron gets rid of assets that generate a lot of money? Democrats destroyed Chicago.

5/18/2018 07:46:00 PM  
Anonymous Anonymous said...

City of Chicago parking tickets ...$4.00,..no need to feed the meter in fear of a 4 dollar ticket... city reaps the ticket proceeds...

5/19/2018 09:28:00 AM  
Anonymous Anonymous said...

5/18/2018 01:19:00 PM
Anonymous Anonymous said...
Rahm could have undone the deal...he didn’t. Morgan Stanley gave Rahm millions. The Daleys and Rahm are all part of the same hypocrisy. Not one comment against Rahm on this deal shows how well insulated that scumbag piece of garbage is. And the Chicago police have to back his opponent immediately. Vallas. If you don’t you are all part of his upcoming victory.

5/18/2018 01:38:00 PM

Rahm might have been able to undo the deal, but even if he was successful in a court, he would have had to pony up over a BILLION dollars that Daley already had spent

5/19/2018 12:04:00 PM  
Anonymous Anonymous said...

Anonymous Anonymous said...
Daley was one stupid fucker. Asshole had no clue about how to budget. What moron gets rid of assets that generate a lot of money? Democrats destroyed Chicago

Wouldn’t really call him stupid or a moron who had no clue. He does what every politician does. They kick the can down the road. He spent the money to avoid property tax increases which kept him getting re-elected That was always his platform. No or minimal increase in property taxes and it worked and he was re-elected for what 20 years. Now I wouldn’t call that stupid. He knew he wasn’t going to be mayor for much longer and dropped the problem in Rahms arms. Then when crucified didn’t Daley’s brother just criticize Rahm and tell him to “man” and deal with it
No politician worries about the future m, just their term , and for sure not 75 years in the future

5/19/2018 12:11:00 PM  
Anonymous Anonymous said...

Anonymous Anonymous said...
Not a cop: I'm not a PO but I'd recommend that new employees open an IRA and contribute generously.

I was given this advise when I first came on the job (1990). I never liked having to rely on just one income source so I got into deferred comp and opened up a Roth and 3 other IRA's. My wife did the same. To date, we have several retirement accounts working for us. Fast forward to today......I'm happily retired.


LIFE IS GOOD!

Great story and glad it worked for you. So both you and your wife had deferred and each had a Roth and 3 other IRA’s. Great plan but believe it or not some of us have mortgages, car payments and educational expenses and maybe medical expenses. Some are actually living payday to payday and not because of spending to much on expensive toys
Loyola Acacamy yearly tuition is $17,000 plus fees and other expenses. So my two kids cost me close to $40,000 a year in tuition for high school. That doesn’t leave much left for those 3 IRA’s and a Roth. But I do contribute to deferred

5/19/2018 12:20:00 PM  
Anonymous Anonymous said...

City of Chicago parking tickets ...$4.00,..no need to feed the meter in fear of a 4 dollar ticket... city reaps the ticket proceeds...

5/19/2018 09:28:00 AM

Your brilliant idea:

1. Set the fine for not paying the parking meter at less than the cost to pay the parking meter.

2. Thus, you propose, the city will be paid the fine and the parking meter will be paid nothing.

3. Which the parking meter conglomerate will then enforce the terms of the city contract with them to compel the city to do.....what?

4. C'mon, Brainiac, you can tell us all what that what is gonna be.........you know what that what is......we know what that what is......so just state it, plainly, as if you were an actually honest commenter........

5/19/2018 08:09:00 PM  
Anonymous Anonymous said...

Loyola Acacamy yearly tuition is $17,000 plus fees and other expenses. So my two kids cost me close to $40,000 a year in tuition for high school. That doesn’t leave much left for those 3 IRA’s and a Roth. But I do contribute to deferred

5/19/2018 12:20:00 PM


What, in general, do you think the benefits of your choice of this high school will provide for your progeny? Besides not experiencing the common public high school environment?

That 40 large is quite the chunk of yearly change, even in 21st dollars value, so, just what are your young adult progeny recieving for that many months worth of take home you work to be paid?

Elaborate. Please.

5/19/2018 08:18:00 PM  
Anonymous Anonymous said...

Daley was one stupid fucker. Asshole had no clue about how to budget. What moron gets rid of assets that generate a lot of money? Democrats destroyed Chicago
==========================================================================

You are like little baby. Ask yourself this: Who are these "private investors" -- who are never named, of course -- that own the parking?

I suspect that the answer to that question would make sense of it all. Just a hunch.

5/19/2018 08:25:00 PM  
Anonymous Anonymous said...


What, in general, do you think the benefits of your choice of this high school will provide for your progeny? Besides not experiencing the common public high school environment?

That 40 large is quite the chunk of yearly change, even in 21st dollars value, so, just what are your young adult progeny recieving for that many months worth of take home you work to be paid?

Elaborate. Please.

Probably nothing like all the other students that attend

5/20/2018 11:29:00 AM  
Anonymous Anonymous said...

Probably nothing like all the other students that attend

5/20/2018 11:29:00 AM


Bingo.

20 large per son/daughter.

Per year.

X 4 years = 80 large for each.


And pappa can't possibly imagine something much more beneficial for the kids that could be done with that 80 large, upon their both graduating from an already prepaid, via property taxes, 4 year extension of grammer schooling?

Shit, with this new fangled thingy called the Internet, how is the abundance of information on every subject known to mankind not, apparently, considered by pappa?

If you actually know the persons your children are, they will inform you of what their native talents are, their future working career interests, tempered by the realities of evaluating capabilities, proclivities, physical abilities and the like, and, together, you can determine the most beneficial use of all that hard earned dinero.

5/20/2018 09:50:00 PM  
Anonymous Anonymous said...

You are probably right. Must be plenty of dumb parents who pay for the private and parochial schools when getting nothing in return
Surprising how these schools pulled off this scam for all these years

5/20/2018 10:20:00 PM  
Anonymous Anonymous said...

You are probably right. Must be plenty of dumb parents who pay for the private and parochial schools when getting nothing in return
Surprising how these schools pulled off this scam for all these years

5/20/2018 10:20:00 PM


The "scams" you refer to as being "pulled off by" private and parochial schools are a mere pittance when compared to the public schools hugely expensive fraud.

The very nature of learning is not at all what those teaching present it to be.

No one ever is taught by another.

Everyone actually teaches themself, as in, each individual is the only person who defines, determines and chooses both what they will actually come to know/understand, aka, learn, and how & why, in their own chosen manner, they come to know it.

There are three, (3), fundemental forces each individual creates, within their own person, which induce and inspire the seeking to know:

1. Curiosity

2. Desire to Do, which creates the Need to Know How to Do

3. Necessity/Need to Have, which creates the Need to Know How to Have


Thus, we each, in our own, individual manner, teach ourselves by seeking the knowing of whatever, by understanding what we find when we seek, by determining the useful, beneficial things to know, the skills to acquire, the natural individual's talents to develop and everything else not sought to know is essentially disregarded and/or discarded as of no value.

So, the real and assinine scam being pulled upon everyone is the fraudulent fiction that the structure, design and intent of most education enterprises actually is most helpful to the individuals' "learning", when it really is an obstacle, an imposed impediment to each individuals' natural desires to know.

No one evers learns more, or better, or more effectively, or more efficiently, than when they are acting upon the three fundemental causes of anyone seeking to know anything.

And the structured fraud of the education industry mostly, if not always, impedes learning/knowing.

The surest way to cripple a pony is to never allow it to run where it pleases.

5/21/2018 07:08:00 PM  
Anonymous Anonymous said...

Anonymous said...
Not a cop: I'm not a PO but I'd recommend that new employees open an IRA and contribute generously.

5/17/2018 12:44:00 AM

You will never be able to retire a couple hundred thousand won't be enough not equal to a pension.

5/23/2018 03:26:00 AM  
Anonymous Anonymous said...

You will never be able to retire a couple hundred thousand won't be enough not equal to a pension.

5/23/2018 03:26:00 AM


You presume retire means to do absolutely not anything that:

Produces something you can sell.

Provides a service which has value worth being paid for.

Gains you income in any amount whatsoever.


You also imply, by so presuming that retired, you will:


Spend as if you were still pulling in 1 to 2 to 3 grand a week....

Still have a huge mortgage debt to pay monthly....

Have other debt requiring monthly payments.....and.....

....perhaps still other debt demanding payments in cash, or you pay in pain.....and still have to pay in cash......


Anticipating retirement is more than yearning to continue your financial habits as if you were still working.

5/24/2018 07:53:00 AM  

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