Comments on Advance Indiana™: Chicago Parking Meter Operator Demanding $50 Million From City

Agreed, Mark. I can't trust my own brother. I ...

2012-05-27T07:18:27.048-05:00

Agreed, Mark. I can't trust my own brother. I sure as hell wouldnn't trust anyone working for ACS. There is no concern on the part of this administration. Ballard is bought and paid for by their attorneys/lobbyists, which is a license to steal. They know Ballard has their backs and not the taxpayers.

Also, I would like to ask: who checks the meter co...

2012-05-27T06:37:16.231-05:00

Also, I would like to ask: who checks the meter company's books to monitor how much the City either is due (chuckle) or owes (wince) according to ACS's calculations? I never would, and do not now, impugn the integrity of a corporate entity that has maneuvered itself into a sweetheart deal with a group of politicans and highly-placed lawyers and lobbyists. After all, corporations are people.

I fear that Paul's prediction is right. I sti...

2012-05-26T09:33:49.524-05:00

I fear that Paul's prediction is right. I still can't believe that the City agreed to be saddled with this expense.

Gary, I have looked at the 10 year out provisions ...

2012-05-24T12:46:42.701-05:00

Gary, I have looked at the 10 year out provisions in the ACS -Indy parking contract. The terms are so onerous they could never possibly be used. The 10 year out provisions was simply a provision to sell the deal to the public, but I don't believe those provisions are a realistic option in practice. We'd have to claim a signficant breach and almost certainly we're looking at litigation.

As you know, Ellen, I've been a critic of Indy...

2012-05-24T09:03:09.514-05:00

As you know, Ellen, I've been a critic of Indy's parking meter deal. We could have installed new electronic meters and easily recouped the money through the higher rates instead of handing control over to a private operator. Nonetheless, at least the deal was structed for a shorter term and there are intervals at which the city can walk away from it--albeit at a cost, and the city still shares in revenues. The city will need to be vigilant in watching to make sure it is not overbilled for meters taken out of commission for street repairs and special events though, which could substantially eat into the city's share of revenues. The biggest problem right now seems to be with the issuance of parking tickets, which many people claim are being issued when they still have time on the meter.

"If Ballard had any backbone...." Hah!

2012-05-24T08:46:38.826-05:00

"If Ballard had any backbone...."

Hah!

I never thought I'd say this, but, wait, stead...

2012-05-24T07:39:27.454-05:00

I never thought I'd say this, but, wait, steady myself, easy there, here goes, Good Job, Rahm.

...crash, thunk, splat....

I think I picked up a nasty lump falling off my chair.

Rahm's right. The meter company uses biased and shady accounting to present a bill for annual fees.

The unscrupulous meter company knew what it was buying: x meters at x revenue, essentially 75 years of more or less the same meter use that was occurring the year prior to the sale, waivers, exemptions, street closures, and all.

If the meter company charges $15 million for 75 years, it will have billed Chicago $1,125,000,000 in annual fees, or $125 million more than the price of the sale. Effectively, the sleazy meter company will have received 75 years of Chicago meter payments without having spent a dime of its own money. This is criminal and not to be permitted at the public expense.

If Ballard had any backbone, he'd do the same with Indy's sleazy meter company.