Message me
If the parking meter deal put a bad taste in your mouth, try swallowing this:
Chicago is considering leasing its water system to help fix the budget.
The new boss could charge whatever they want for water, CBS 2's Roseanne Tellez reports.
Mayor Daley May Be Considering A Sale Of Chicago's Water System
cbs2chicago.com - 3 weeks ago - 575 views
21 Comments Have your say. Vote up the best responses. ↓
Reactions on the web
Latest tweets linking to this story (Share url: http://windycitizen.com/weGk)
Latest tweets linking to this story (Share url: http://windycitizen.com/weGk)
Invite your friendsExplore this story
People: Homer Glen | Jack Up Rates For Residents | Jim Daley | John Spatz | Jon Keesecker | Lillie Gajda | Roseanne Tellez | Scott Waguespack
Organizations: City Council | Department of Water Management
Top Crime Stories This Week
1
Comments
Thanks to Angela Caputo at Progress Illinois we learn why CBS did not more full cite its sources: the big old media newsroom did not want to credit a not-for-profit news media outlet.
Chicago Water For Sale? (10-20-2009)
http://www.newstips.org/interior.php?section=Newstips&main_id=1038
Daley's Next Privatization Dance?
http://progressillinois.com/2009/10/23/daley%27s-next-privatization-danc...
Imagine! Volunteer Citizen journalists muck-raking municipal wrong-doing & blocking big hikes in water service fees. Channel two needs to bust a move if it wants to get out of the rating dungeon!
Amazing. So just weeks after Chicago was awesome enough to host the Olympics, we're so poor we can't afford to supply our own water.
One word: NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!
Who fed this lead to Channel 2 News anchor Rob Johnson?
The Roti Family told Roseanne Tellez to keep a lid on it!
The feds need to take down city hall this is worse than blago appointing a senator.
Corruption gone wild.
It just boggles the mind that the city would even consider a plan like this.
You watch, Monday the Mayor will say he's proposed nothing of the sort and that the media made it all up.
And then two months later...we'll hear about this great new idea he has for "working with" some foreign company.
The municipal water pipe system in Chicago is over 100 years old. Probably cast iron. Water wars are fought out in the western United States. Maybe dumping the distribution system on a German owned ( think Euro, as in currency ) company could work to the benefit of class action lawyers. The devil is in the details of these agreements. We need to be proactive & head them off at the pass. Get going Chicago lawyers & residents. What company is going to handle the insurance & immunity issues ? Transparency as to these agreements. Thank you. Mocxba.
There's nothing but speculation in this Channel 2 News Report. What happens in a Chicago suburb may not apply directly to the City of Chicago.
If you want to know more about the City of Chicago elaborate planning to prepare the municipal water system for sale, place your upvote order on this discussion thread. Once I get 12 upvote requests, then I will share with you who is involved & how far planning has progressed.
User "0" - very mysterious! As of this moment, 11 upvotes. We await your revelations....
Teaser: The Chicago Sun Times discovered one Chicago family very well represented on the Chicago Department of Water Management payroll during its Hired Truck probe. Tangentially, it's also related to Las Vegas casinos in the 1950's.
The server is taking a dump. We're all "User 0" now. Ech bein ein zero. Brad!!!!!!! Help!!!!!!!
Gotta be careful when you tread on politically thin ice, fellow Windy Citizens!
I'm the 12th vote. Share away.
Hint: Who will benefit from rebuilding Chicago's water distribution piping network, fellow Windy Citizens?
"There's nothing but speculation in this Channel 2 News Report."
not exactly
a unnamed trade publication is cited
an alderman confirmed hearing talk
Guys talk, word gets around & you hear things, Hugh.
That's a bit of a leap from some courageous soul going on the record to explain how this water distribution system asset sale has been planned for at least three years & that private sewer & plumbing contractors are anxiously awaiting the opportunity to upgrade Chicago's water distribution system at great cost to the taxpayers.
What's next, selling city hall? I can see it now: Nintento City Hall. Crédit Agricole City Hall (oo I like that). China National Petroleum City Hall. Gazprom City Hall. Bids are starting. Can I get a bid?
After some cogitation & rumination, I reckon that these assets rightfully belong to the residents/citizens of Chicago. Remember the old Chicago Municipal Electric Company ? I do. It was run along the lines similar to a co-op. ( cooperative .) I do not believe that the "stewards" of Chicago government have the right to unilaterally sell off public assets without first offering them to the citizens first. What is happening now in the United States is the privatizing of profits & the socialization/collectivism of debt. Nice deal for Wall Street ( i.e. AIG, Merril, Goldman, Morgan Stanley, GM, privately held Chrysler, etc.) Maybe turn the water distribution systen into a REIT ( Real Estate Investment Trust ) or MLP (Master Limited Partnership.) Then we are all shareholders. We need to form a co-op & then some pre-emptive federal/state lawsuits. Some comments please. Thank you. Mocxba.
Moxy, Mocxba!
New York Times investigative reporter & author David Cay Johnston agreed wholeheartedly with you in his recent book--Free Lunch. (Of course, there's no such thing, my dear!)
Thanks to Windy Citizen railings, Chicago's news media will no longer be able to flash the transaction price for municipal asset sales on the Chicago Theatre marquee.
Financial analysts will intervene & explain that if investors plan to pay such a purchase price, it's based on future cash flows which suggest whopping increases in services fees or rates to justify such prices paid. It's a simple five component present value calculation, the only variables being homeowner willingness to support such grandiose schemes with their precious tax dollars.
Post new comment