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One big city paying a company to make money off its parking meters

GasBuddy Blog -- Can you imagine the day where a city decides to give its parking meters to an outside for-profit company? Well one U.S. city did that, and not only are the motorists there paying huge increases in parking rates, but the city itself will likely end up paying the entire amount that was given to them for the meters back to the company now operating and profiting off them.

That's right- more corruption in the Windy City, and you can be sure that as governments sell off their assets this could happen more and more! The Windy City already sold a toll-road bridge to a private entity and guess what happened to the toll rate? It jumped. It's now nearly double what it was just years ago.

So imagine this- Chicago sold its parking...

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Submitted May 08, 2012 By: PD

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tauro514 Champion Author Connecticut Posts:3,125 Points:1,798,065 Joined:Oct 2006	Message Posted: May 9, 2012 11:46:33 AM Ignore tauro514 Report Abuse just stupid.
sciotosix Champion Author Dayton Posts:2,734 Points:663,200 Joined:Apr 2011	Message Posted: May 9, 2012 11:46:15 AM Ignore sciotosix Report Abuse Someone else can do it better than Chicago's government?
q2 Champion Author Alberta Posts:2,019 Points:377,070 Joined:Nov 2008	Message Posted: May 9, 2012 11:46:02 AM Ignore q2 Report Abuse don't expect much out of government at any level
ciimike Champion Author Nevada Posts:4,638 Points:1,061,310 Joined:Aug 2005	Message Posted: May 9, 2012 11:45:34 AM Ignore ciimike Report Abuse Private corporations monitoring the parking meters or the cameras and the intersections are making way too much profit while the cities/counties that are utilizing them are losing more money. Don't you think the the local governments would realize this some day?
Kato51 Champion Author Atlanta Posts:7,245 Points:2,160,765 Joined:Jul 2005	Message Posted: May 9, 2012 11:44:16 AM Ignore Kato51 Report Abuse Any honest people around?
gasper Champion Author Edmonton Posts:4,480 Points:1,366,460 Joined:Mar 2002	Message Posted: May 9, 2012 11:42:23 AM Ignore gasper Report Abuse The time should come when these people will be replaced and the city take over its parking meters and fire the out sider.
DTrainCanada Champion Author Saskatoon Posts:1,848 Points:1,418,075 Joined:Aug 2005	Message Posted: May 9, 2012 11:42:22 AM Ignore DTrainCanada Report Abuse People love money ...
MrLuigi Champion Author Massachusetts Posts:4,758 Points:963,760 Joined:Jun 2005	Message Posted: May 9, 2012 11:41:41 AM Ignore MrLuigi Report Abuse thats a riot......so sad What were they thinking?
amayne11 Champion Author Vancouver Posts:1,742 Points:496,095 Joined:Nov 2011	Message Posted: May 9, 2012 11:41:35 AM Ignore amayne11 Report Abuse Tax payers getting the short end of the stick again
ScottTee Champion Author Detroit Posts:4,371 Points:1,059,695 Joined:Mar 2010	Message Posted: May 9, 2012 11:39:27 AM Ignore ScottTee Report Abuse So the municipality should think about this before they do it. Typical short sighted management.
bigsranch Champion Author Houston Posts:3,131 Points:1,002,555 Joined:Apr 2007	Message Posted: May 9, 2012 11:38:59 AM Ignore bigsranch Report Abuse No different than private lots.
hibsaw Champion Author Mississippi Posts:8,027 Points:1,679,040 Joined:Feb 2008	Message Posted: May 9, 2012 11:38:35 AM Ignore hibsaw Report Abuse What a joke.
kelly1016 Champion Author Victoria Posts:1,953 Points:352,940 Joined:Oct 2011	Message Posted: May 9, 2012 11:36:56 AM Ignore kelly1016 Report Abuse Yesterdays news
tpguess Champion Author San Diego Posts:1,586 Points:368,910 Joined:Jan 2012	Message Posted: May 9, 2012 11:35:59 AM Ignore tpguess Report Abuse Just Politics as usual... and they trained "O" well
yelobus Champion Author Houston Posts:5,579 Points:1,552,840 Joined:Aug 2006	Message Posted: May 9, 2012 11:35:18 AM Ignore yelobus Report Abuse Will anyone lose his job? Naaaaahh.
Don20 Champion Author Oklahoma City Posts:9,657 Points:2,616,705 Joined:Mar 2005	Message Posted: May 9, 2012 11:34:06 AM Ignore Don20 Report Abuse Sounds like everyone is corrupt. Must be a training ground for politicians and gangsters..
RabunDog Champion Author Georgia Posts:2,995 Points:1,221,560 Joined:May 2009	Message Posted: May 9, 2012 11:32:16 AM Ignore RabunDog Report Abuse ok
2granny Champion Author Michigan Posts:9,560 Points:1,463,330 Joined:Apr 2009	Message Posted: May 9, 2012 11:32:02 AM Ignore 2granny Report Abuse The company that owns the-road bridge needs to do the repairs on the bridge not the taxpayers. Same with the streets if they are collecting the fees.
INBwana Champion Author Indiana Posts:5,424 Points:693,060 Joined:Apr 2011	Message Posted: May 9, 2012 11:31:08 AM Ignore INBwana Report Abuse Obama's kind of town, Chicago is!
Tomeboy Champion Author Twin Cities Posts:3,749 Points:556,090 Joined:Apr 2009	Message Posted: May 9, 2012 11:31:03 AM Ignore Tomeboy Report Abuse emernal wrote: Somethings are better not run by private for profit companies. ------------------------------------- I agree with you emernal!
dadis46 Champion Author Maryland Posts:7,997 Points:1,081,735 Joined:May 2006	Message Posted: May 9, 2012 11:30:12 AM Ignore dadis46 Report Abuse I wonder what the city get for the land of parking lot or meter stand on. they need the money themselves
GManCo Champion Author Colorado Springs Posts:4,986 Points:948,890 Joined:Sep 2010	Message Posted: May 9, 2012 11:29:34 AM Ignore GManCo Report Abuse It must be that Chicago is the central area for Socialists.
rpr77 Champion Author Philadelphia Posts:3,880 Points:764,560 Joined:Mar 2011	Message Posted: May 9, 2012 11:29:31 AM Ignore rpr77 Report Abuse ok
Bugs2010 Champion Author Dallas Posts:3,401 Points:936,480 Joined:Mar 2010	Message Posted: May 9, 2012 11:29:15 AM Ignore Bugs2010 Report Abuse "Do you think it's right for government to sell assets for one time payments?" --- Not just no, but _____ no!! But this is what happens when an entity (local, state or federal) is so strapped for cash and everyone is worshipping at the altar of Grover Norquist. Sometimes a tax increase is the lesser of several evils. For those who are worried that, "Once taxes go up, they never go down," preplanned expiration dates could be written into the laws. That way, when the crisis is over, the tax rate DOES go back down. Such a plan would have been far better than this stupid fiasco!
puinsai808 Champion Author Honolulu Posts:3,529 Points:723,980 Joined:May 2011	Message Posted: May 9, 2012 11:28:17 AM Ignore puinsai808 Report Abuse The corruption and losses are because it's Chicago aka Nobama-land.
mageetp Champion Author British Columbia Posts:3,193 Points:622,915 Joined:Aug 2011	Message Posted: May 9, 2012 11:28:02 AM Ignore mageetp Report Abuse Where was the city legal staff ??
mackconsult Champion Author Portland Posts:5,304 Points:864,030 Joined:Jan 2009	Message Posted: May 9, 2012 11:27:59 AM Ignore mackconsult Report Abuse some one is making a dime
grapevinemcse Rookie Author Fort Worth Posts:42 Points:227,765 Joined:Mar 2011	Message Posted: May 9, 2012 11:27:31 AM Ignore grapevinemcse Report Abuse I wish I could buy a toll road, raise the prices, and then have the taxpayer flip the bill for the upkeep.
NatureBoyKY Champion Author Kentucky Posts:3,348 Points:1,293,210 Joined:Jan 2008	Message Posted: May 9, 2012 11:26:59 AM Ignore NatureBoyKY Report Abuse This BS must stop and stop now.
puinsai808 Champion Author Honolulu Posts:3,529 Points:723,980 Joined:May 2011	Message Posted: May 9, 2012 11:26:46 AM Ignore puinsai808 Report Abuse An outside for profit company can manage parking more efficiently. It's already happened here in my area.
Blazer197 Champion Author New Haven Posts:3,240 Points:615,150 Joined:Feb 2009	Message Posted: May 9, 2012 11:26:08 AM Ignore Blazer197 Report Abuse CROOKS
ramshot412 Champion Author Riverside Posts:20,132 Points:2,463,140 Joined:Apr 2004	Message Posted: May 9, 2012 11:26:00 AM Ignore ramshot412 Report Abuse What's the big deal? This is the same issue some people have with traffic cameras. They fines have to be really high so the city and contracted private company can both make money.
goodbuy Champion Author Michigan Posts:7,648 Points:1,419,180 Joined:May 2005	Message Posted: May 9, 2012 11:25:41 AM Ignore goodbuy Report Abuse Who is taking care of the road? Hope it is not the taxpayers.
humancry Champion Author Michigan Posts:4,618 Points:1,002,455 Joined:Nov 2006	Message Posted: May 9, 2012 11:25:29 AM Ignore humancry Report Abuse I would agree with this consumers remarks: All-Star Author Quebec Posts:530 Points:792,200 Joined:Jul 2008 Message Posted: May 9, 2012 11:23:57 AM Ignore bjdorval Report Abuse What am I missing here? When you sell public assets to private for profit organizations the deal is a reasonable return on equity and a regulatory system to ensure that it stays that way. Who the heck is making these opened ended deals anyways? I can only guess they are former credit default swap swindlers.
bobsalwaysmt Champion Author Long Island Posts:4,649 Points:265,265 Joined:Oct 2007	Message Posted: May 9, 2012 11:25:17 AM Ignore bobsalwaysmt Report Abuse This is where the man running (ruining) our country learned about government & politics - We are DOOMED!!! BTW - how does this impact fuel prices???
bjdorval Champion Author Quebec Posts:2,244 Points:1,132,005 Joined:Jul 2008	Message Posted: May 9, 2012 11:23:57 AM Ignore bjdorval Report Abuse What am I missing here? When you sell public assets to private for profit organizations the deal is a reasonable return on equity and a regulatory system to ensure that it stays that way. Who the heck is making these opened ended deals anyways? I can only guess they are former credit default swap swindlers.
GOBUTLER Champion Author Indianapolis Posts:1,425 Points:386,835 Joined:Dec 2011	Message Posted: May 9, 2012 11:22:55 AM Ignore GOBUTLER Report Abuse Really?
brownsbacker80 All-Star Author Akron Posts:620 Points:454,990 Joined:Sep 2011	Message Posted: May 9, 2012 11:22:36 AM Ignore brownsbacker80 Report Abuse Oh boy, hope this doesnt catch on
Emmamae1 Champion Author Illinois Posts:3,042 Points:586,165 Joined:Oct 2011	Message Posted: May 9, 2012 11:20:18 AM Ignore Emmamae1 Report Abuse temporary money for chicago with 99 year consequencies.
Killerbabydoll Champion Author Tucson Posts:1,248 Points:545,195 Joined:Sep 2010	Message Posted: May 9, 2012 11:18:41 AM Ignore Killerbabydoll Report Abuse thats not really a surprise
deerchaser All-Star Author Lincoln Posts:792 Points:1,252,960 Joined:Sep 2005	Message Posted: May 9, 2012 11:18:16 AM Ignore deerchaser Report Abuse A compnay wants to make a profit, the city just needs to meet expenses.
chyguy3 Champion Author Wyoming Posts:2,855 Points:859,540 Joined:Sep 2006	Message Posted: May 9, 2012 11:17:55 AM Ignore chyguy3 Report Abuse Chicago isn't the only one. The feds have sold off toll roads as well, so where does it end? Someone, other than us (U.S.) owning us (U.S.).
nj2000ng Champion Author Houston Posts:1,507 Points:449,020 Joined:Jan 2010	Message Posted: May 9, 2012 11:17:50 AM Ignore nj2000ng Report Abuse Ok
drobbbb Champion Author Maryland Posts:3,460 Points:808,460 Joined:Dec 2010	Message Posted: May 9, 2012 11:17:06 AM Ignore drobbbb Report Abuse just stupid
BigBrat Champion Author Phoenix Posts:2,659 Points:1,049,475 Joined:Dec 2004	Message Posted: May 9, 2012 11:16:37 AM Ignore BigBrat Report Abuse Ho hum
eddyp94 Champion Author Ontario Posts:8,163 Points:1,660,835 Joined:Mar 2008	Message Posted: May 9, 2012 11:16:34 AM Ignore eddyp94 Report Abuse Don't care, just lower oil prices...
Bigtex09 Champion Author Dallas Posts:4,273 Points:1,156,360 Joined:Oct 2009	Message Posted: May 9, 2012 11:16:17 AM Ignore Bigtex09 Report Abuse tax tax tax
jeffbone Champion Author Virginia Posts:1,351 Points:397,910 Joined:Mar 2011	Message Posted: May 9, 2012 11:15:36 AM Ignore jeffbone Report Abuse "Not Newsworthy"
Lologogo Champion Author Twin Cities Posts:1,294 Points:352,390 Joined:Sep 2011	Message Posted: May 9, 2012 11:14:42 AM Ignore Lologogo Report Abuse Chicago is stupid for selling these things. Any smart person could guess that selling parking meters & toll roads would create greed & increased costs. The toll roads & parking meters profits are traditionally for the cities that run them, not some capitalistic greedy comapny to profit from. They should've had contracts in place to protect the people from such greed but I'm sure this is where the corrption comes in.
jimnkelli Champion Author St. Louis Posts:4,065 Points:1,968,065 Joined:May 2004	Message Posted: May 9, 2012 11:14:10 AM Ignore jimnkelli Report Abuse isnt that where Obama is from
madison8359 Champion Author Cleveland Posts:8,991 Points:1,590,370 Joined:Apr 2008	Message Posted: May 9, 2012 11:12:51 AM Ignore madison8359 Report Abuse That's Chicago for you.