progressillinois.com - 248 views
Progress Illinois echoes The New York Times report which blasted the City of Chicago for peddling off 37,000 parking meters to the highest bidders. One among five who opposed the plan, Alderman Rey Colon grimaced as he concluded that "we should have bit the bullet."
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Community activists & businessman Alderman Rey Colon could do the time value of money financial calculation & knew that the private parking meter lessor planned to jack up the on-street parking meter rates.
Did the other 45 aldermen & women who supported the private deal fear more incurring the wrath of Mayor Daley & the public employee unions which would have been forced to layoff thousands of precinct captains just a year before municiplan Election Day?
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