-- Connecting the dots between our economy, government and business --
It shows Chicago parking meter revenues nearly back to pre-pandemic levels. After dipping to $91.6 million in 2020, they climbed to $136.2 million last year. With 61 years left on the 75-year lease, Chicago Parking Meters LLC now has recouped its entire $1.16 billion investment and $502.5 million more.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
Was this deal ever investigated to see if there were kickbacks?
As an aside, isn’t it funny how Richie Daley has disappeared off the face of the Earth?
The mayor who never was.
Actively whoring takes up a lot of time!
Daley’s chief of staff became the CEO of the parking meter company, Daley became part of the law firm that handled the deal for the same company as a “good will ambassador” with a 6 figure salary. Go figure.
That’s because the parking rates in effect today are 2-3x higher than when the deal was signed, with longer hours in effect, and previously non-metered spots converted. All things Daley and aldermen could have done on their own but didn’t have the balls to do it.