The Parkey meter deal.

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You still shaking your head over the finish to the Bears/Eagles game last night?

Let us move on.

Quickly.

The best funded of the Chicago mayoral candidates is Bill Daley of the Chicago Daley’s.

My own view about Daley’s chance of being mayor is this: Zero.

All his opponents need to do is run TV ads that use the three words, “parking meter deal,” and the guy is toast.

This morning, only Cody Parkey makes Chicagoans more heated and upset than Mayor Daley’s parking meter deal, and that was eight years ago.

Okay. No more Cody Parkey references

Although Bill has changed his tune since he announced for mayor, he once called the sale of the city’s parking meters to a private company a good business deal.

In 2008 Mayor Daley leased Chicago’s entire parking meter operation for 75 years to a new venture called Chicago Parking Meter LLC for $1.6 billion.

To date CPM has earned nearly $1 billion and its investors will recoup the purchase price by 2021 with 62 years left for profits. Chicago gets nothing.

CPM is a consortium of three investment firms led by Morgan Stanley, which packaged the deal. Morgan Stanley’s public finance chief is William Daley Jr.

Maybe we should call it the Parkey Meter Deal.

Sorry.

Bill Daley is announcing some new reform idea every couple of days. His idea this morning is to reduce the size of the City Council from 50 to 15.

I don’t know about you but the first thing that came into my head is that Daley is thinking 15 are cheaper to buy than 50.

The last time the city council voted on Rahm’s budget the vote was 48 to 1. The one being 32nd Ward Alderman Scott Waguespack.

Under Daley’s reform the vote would have been 14 to 1. See the difference?

Speaking of reform, the Sun-Times reports this morning:

Daley’s family, friends and associates have been among the generous donors to Burke’s campaign funds over the past year, according to a Chicago Sun-Times analysis.

Some of those dollars flowed after Burke’s ward and City Hall offices were raided by federal agents Nov. 29 and Dec. 13, as part of an investigation that on Jan. 3 saw criminal charges unsealed against Burke for allegedly trying to muscle a Burger King franchise owner — while seeking city approval for a restaurant remodeling in his ward — into hiring his law firm.

Daley? Preckwinkle? Chico? Mendoza?

Who hasn’t Burke touched?

My council reform idea is to elect teachers as Alderman.

Erika Wozniak, Dianne Daleiden and Tara Stamps are all members of the Chicago Teachers Union running for alderman. Susan Sadlowski Garza, alderwoman of the 10th Ward, was CTU before becoming alderman four years ago.

All four are scheduled to be on Hitting Left this week.

Friday. 11am. 105.5fm. Streaming at http://www.lumpenradio.com and on podcast.

 

 

7 thoughts on “The Parkey meter deal.

  1. Fred,
    New micro brew in Philly-Double Doink IPA, it will be bitter.

    As for the meter deal, these things can be good deals if 2 things happen, the price is “fair” and you save the money and use the earnings for the purchase price in the budget, not the dam principal like Chgo did. They have 0 to show for the sale.
    Oh, I forgot yo mention anything about being transparent.

  2. Who hasn’t Burke touched?

    Burke is just part of the “machine” never the the leader but always always got his “share”

    The machine for decades has been based on deals good the machine – no news here. Note they continue to get reelected. Kick the Can forever –

    Here is the question I have- The Burke investigation started 2016 under the OBama DOJ ? They had this in in 2017 – Why Burke why now? Why did the machine not crush when it could?

  3. Yep, the “Parkey Meter” sale is a raw deal for Chicago Citizens and the current system is expensive depending on zones and flawed in general. Case in point I was shopping, dining with friends in Lincoln park area just before the Holidays and tried to use the parking terminals in three different locations (1) downtown on S. Clark St. but the box was “off line”. So I went across/down the street and that box failed to read my card! So I could not park for fear of ticketing. Left area to Lincoln Park 2400 block of N. Halsted St., and that Terminal box failed to accept (the now required vehicle License Number) So I drove around the block to 2450 N. Lincoln where the box took my License Number, charged my card but failed to print the parking ticket! Called that issue in (reported it as failed box) Attendant asked to try it again while online and it failed to print again. So the rep said “I see two charges, I’ll issue an area notification to parking enforcement that you have paid for two hours, you’ll be fine, but as for your other charges you’ll have to try to recoup those online and so she sent me a link. Two weeks later I’m still trying to get my $4.80 back. But here is my real concern with the flawed, failed and expensive parking meter system. Twice now the City of Chicago has garnished my pension through the state of Illinois for amounts of $120.00 each. Luckily I noticed the $120.00 garnishments and had to go through considerable lengths both times to challenge and file official protests for the alleged charges, which turned out to be erroneous. It took 6 weeks each time for me to be reimbursed from the City of Chicago for a total of $240.00. I wonder how may retired folks don’t notice and or don’t protest/fight the system.
    As for Burke, he’s a seasoned crook, an old rusty gear in the broken machine of Chicago Politics. With him we’d just get more of the same. The late Honorable Mayor Harold Washington fought Burke and Eddy V. in the city council wars back in the 80s and like Madigan, we can’t seem to shake him off.
    I support teacher candidates for alderman, we need fresh ideals and integrity.

  4. Paul Vallas must be smiling so wide that his teeth may crack. He’s probably next in line to garner all those votes which could fall away from the 4 candidates mentioned.
    Perhaps a post, here?
    (Oh, &, in yesterday’s Sun-Times, candidates were asked if they want an elected school board; he wants a “hybrid.” Also, wavy-gravy on charters {that was in the paper last week}). &, today, he tells the Sun-Times in their “Fact-Check” column that “CPS (was) healthier under him.” The rating (from the Better Government Assn.; article authored by the BGA) says, “His claim is accurate but requires additional information to understand the context. We rate it mostly true.”

    And, maybe readers have some stories (esp. as your blog is read nationally.) What say you people from the now totally privatized New Orleans schools? How about Philadelphia? Bridgeport, CT?
    Comments from those at Chicago State University?

    Eve Ewing has a Vallas story from her must-read book, “Ghosts in the Schoolyard.”
    I will send it in when I have time, later.

  5. As promised–from “Ghosts in the Schoolyard” (p.44):
    “In 2001, 14 parents & community members from Little Village, a Mexican American
    neighborhood north & west of Dyett, held a 19-day hunger strike after CPS promised
    a new building to relieve overcrowding in the neighborhood school, then delayed the
    project. The strikers camped out in tents on the land sited for the school, which they
    called Camp Cesar Chavez. Paul Vallas, CEO at the time, refused to meet with them
    or negotiate or respond to what he called blackmail. ‘I’m not going to locate it on a site
    because people are threatening not to eat. You could have one of these [protests} a
    week,’ he said. When Vallas left Chicago & was replaced as CEO by Arne Duncan,
    Duncan* declared that he had ‘a hell of a lot of respect for [the protesters]’ & agreed to
    move forward with the new school.”

    In the best interests of “the people of Chicago,” Mr. V?

    *Well, I’ll give Duncan creds for this one thing!

  6. So how are Daley and Burke linked to Preckwinkle, Chico, and Mendoza? Amara Enyia is a for a city owned bank which is a great idea. The devil is in the details when it comes to public policy in the city.

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