Seriously? $3.3 Billion?
Where did Conehead think he was going to get the money for this?
Alderpeople learned Thursday that Mayor Brandon Johnson’s administration secretly offered about $3.3 billion last fall to reclaim control of the city’s parking meters — a whopping $800 million more than the next-highest bidder.
But the City Council members didn’t get those key details from the mayor, his aides or any other city officials. Instead, one of the investors set to buy the rights to the meters blurted out those figures after a city lawyer refused.
During a hearing of the council’s finance committee, Ald. Matt O’Shea (19th) asked the city attorney, Jim McDonald, how much the Johnson administration bid to buy back city control of the meter system. McDonald paused a moment and then said flatly that the bid information was subject to a confidentiality agreement the city had signed. So he wouldn’t answer.
That’s when James Wyper jumped in and said he would.
Conehead's people just pulled that number out of thin air, then agreed to some sort of "confidentiality agreement" that appears to have no legal basis or justification and also ended up being $800 million MORE than the eventual winning bid.
What with Conehead stealing a previously allocated $100 million the other day via a shady "executive order," one has to wonder how much more is being stolen and why there doesn't seem to be any meaningful oversight by the aldercreatures.
Labels: city politics, corruption
posted by SCC at 12:01 AM
50 Comments:
Ya know, in 2008, I thought Richie and his advisors were the worst. Anyone with any functioning brain cells could do simple math and see this was a very bad deal.. But MBJ is so special he makes things worse. If he has $3.3 billion somewhere or thought he did, the aldercreatures need to pound away to find where it is and why he withdrew the bid. We are screwed unless and until the city regains control.of these assets
When he was teaching school it’s oblivious Mayor Conehead was not the math and economics teacher.
Marble mouth Daley still laughing
I wish they'd go back the old-fashioned Duncan meters. I've got one in my garage for posterity.
The lunatics in charge thought they would buy the parking meters on the city credit card “taxpayers” and then their money problems would end 🤪🤪
New math? What a dolt! "Hey Rocky, watch me pull a rabbit out of my hat!"
Rocky: "but that trick never works!"
Confidentiality might mean there'll be a leak. Someone will get stabbed in the back!
Conehead should be in the fetal position soon, ya think?
Well who won the bid? And why didn’t the highest bidder ( the City ) win?
The majority of aldermen in city council are idiots. Even the ones you think love the police. What do they really do? Most have no business, legal or finance experience and they're part of the reason this city sucks.
Once again Blow Job did this with CTU money also This. is why the CTU is fighting to STOP the membership from seeing the Books. HOW is that even legal all records should be OPEN TO MEMBERSHIP REVIEW. Should like a job for the FEDS.. Talk about low hanging fruit with these idiots running the CTU this should be a slam dunk for the Feds........5 million went missing and an Asshole got elected mayor. Lets just think about that for a minute.......
To answer your question: “day were too bizzy grabbing dheres”. It’s da chicago way.
We get them back in bankruptcy if the judge says so.
800 million would surely help out the pensions that are poorly funded. Why anyone does anything above the bare minimum on this job or any other city job is baffling to me..
Gee, with all of these billions BJ is willing to spend how about putting some of those billions in our pension...asswipe
Oh Oh, the cats out of the bag,,,CTU just found out the City has billions to spare..watch the fighting begin.
It’s called money laundering.
Do you really think when they made a bid $800 million above the Ask that they didn’t know that?
How much of that $800 million was going to be funneled back from the seller and who/what entities would be the recipients?
Too many of you people, and folks, think this is incompetence. It’s not.
It’s all part of removing wealth from the taxpayer in large sums and redistributing it amongst those on the inside.
Monopoly $
The man couldn’t pay his f$&king water bill or other bills on time. Do you honestly think that he or his subnormal hand picked staff could negotiate a multibillion deal for anything? Lol.
Because the seller looked at the cities plan to sell municipal bonds to cover the money and didn't think they were a good gamble to come up with the money.
All the way to the grave.
Fuck mumbles
Attorney for the city paid by public funds should be brought up on ethics charges for entering into an unlawful confidential agreement circumventing oversight by elected public supervision aldermens while violating sunshine laws with public money to the tune of billions. Maybe the status of his law license should be challenged by that bar association on behalf of we the people. Or maybe this is business as usual boilerplate practice for the elite lawyer participating in a system of "law". We saw billions evaporate at the Somali learing centers in Minn., the California funding for homeless outreach by the billions, and green billion dollar energy scams like Solyndra . What makes you think a parking meter deal doesn't follow the path of govt. waste, fraud, graft, corruption, backroom deals and abuse and calculated money shenanigans in time tested democrat-socialist personal wealth monetary redistribution schemes. When will these smoke filled room deals by the privilaged elected class end?
I think little Johnson is cutting out the aldermanic middle mens, womens and theys out of the financial fair share from this deal. Keep it down low- Lets Go Brandon. Fifty more people and their staffs learn of this deal is a lot of people who want in when the ill gotten gains gets re-distributed. This denial of extraordinary bonuses violates city council time tested protocols for fair and equitable compensation for the people's elected ward representative who look out and protect the upmost interests of the everyday working schlub types.
The Violence Interruptor program is the biggest cash grab theft going on at City Hall. How do these groups get chosen, where is the paperwork showing what they do each month? Their employees? How do you get chosen for a contract? This is tax payer money subject to FOIA. This is free money being handed out to the black and brown community, again, reparations. This administration is a circus act and the FEDS needs to take a close look at the money.
Looking at the test scores maybe he was.
I recently took an elderly, disabled neighbor to the 008th District for official police business, a report, and to get some lawful advice. After parking on the public street in front of the station I assisted my neighbor to the desk waiting in line to speak t the desk personnel. I return to my vehicle to discover a parking revenue agent wrote a ticket for meter non payment. In front of a public safety building? Thank God this wasn't an emergency! These people are hard up for money and I'm sure this is a game for the ticket writer who probably has disdain for the police. I was told I should have hung a disable placard on my mirror. My neighbor physically cannot drive so how the hell can I hang a vehicular handicap placard when he does not own a vehicle nor have a need for one. Besides I believe it is another violation and ticket to display a handicap sign which is registered to another vehicle.
This whole meter thing is about the money and parking in front of a public safety building without feeding the meter is punishable with a $50 fine. No exceptions. Thanks mayor. Thank you aldermanic representatives elected as legislative assembly on behalf of the people. And thanks to the legal lawyers for the city and the private company attorneys who can exert their will with airtight "contracts" and other legally binding decisions that enhance the bottom line. And you thought North Korea was oppressive.
I wonder what the return on investment to date has been on this parking meter on the public owned streets deal is? I'm willing to bet it has been better than the stock market.
Does anyone know if the parking meter company pays or reimburses for a percentage for repairs to the parking lanes when they are paved, improved or maintained? Or are the sucker taxpayers on the hook as written into the contract or some agreement or memorandum of understanding on behalf of the common unwashed people?
Putin declared a State of Emergency in Crimea, Conehead declared a State of Emergency in Chicago! Two dictators in action
What happened to transparency? How can the government enter into a NDA regarding city finances?
If what is published is true, why did the city over bid by $800 million? The seller probably realized there was no realistic way for the city to obtain a $3.3 billion loan and make expected repayments.
My question is why are the parking meters for sale again? Do the current owners need quick cash for something? Are they having financial issues? Our local investigative reporters are doing what they do best when looking at a difficult issue. Nothing.
Mayor Conehead knows he can never be re-elected. He will spend it all.
No keeses for him.
Did Mayor Conehead plan to place the meters on a payment plan like he did for his delinquent water bill? Someone on the fifth floor is in over his head.
because everyone knows they don't have the money and won't pay
800 million more? Pay the coppers from the VRI lawsuit, that accrues 5% added every month, like the court ordered!
All hail King Conehead! He can create government agencies, declare States of Emergency, and spend billions with no oversight or accountability to anyone. Conehead isn’t mayor, he’s a dictator tyrant!
He’s the CTU’s leading expert on economics and math
Does this train wreck have an ending??
Handicapped placards are registered to a person, not a vehicle. Lots of people with no license or car have one, so that a friend or neighbor can take them places and park in the handicapped spot. Handicapped plates are registered to a specific vehicle.
Jeff Bezos has something to say about how government runs things
https://timesofindia.indiatimes.com/technology/tech-news/jeff-bezos-told-zohran-mamdani-that-if-we-ran-amazon-like-new-york-city-runs-its-school-system-packages-delivery-would-take-weeks-canadian-billionaire-kevin-oleary-joins-the-debate-says-bezos-should-/amp_articleshow/132032127.cms
Math and Economics Teacher!!!
Man you kill me!!!
🤣
If a meter spot is taken out of service for any reason by the city, they must pay the parking meter company for the lost revenue. This is a no loose deal for the parking meter company.
Putin is doing exactly what needs to be done to protect his people from the 40 USA biowarfare labs that were in that shit hole called U Crane.
And he isn't a dictator. Stop spouting off neoliberal and neocon talking points.
By the way, are you a supporter of the Azof Nazi Army of U Crane?
If Conehead can find this money to buy back our parking meters but lost the bid, use the money to find our pensions.
I told you guys. BJ the Clown needs some spreading around political money for kickbacks to his re election campaign. He didnt get the parking meters back, and he didnt get the Bears to stay. Now he has plenty of money to spread around and round up illegal voters and get kickbacks to his campaign chest. Its like you guys dont know how Chicago works. Jeez...
Why would anyone withdraw a successful high bid??? (weird) Also, I dont expect the Alder creatures to bring this up again. And most importantly, wouldnt this be a very good time for the FOP and the Pension board to file a lawsuit demanding that the pension fund be shored up? I mean since there is so much money floating around? Right?
Oh maaan… would I grab a big bowl of popcorn to watch that fun.
"Chicago ! It's a great steak place". Richie Daley
If his offer was 800mil more than the winning bid, would the city not be the new owner?
Except that the city's bond rating is so low, the seller didnt think that the city could raise the money for the purchase price. The city subsequently pulled their bid.
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