In truth, Mayor Daley isn't too keen on answering questions. We however are more than happy to oblige.
We may make Q & A Friday a permanent feature here. Please let us know what you think in the comments and feel free to ask a question for next Friday.
Q & A FRIDAY
A reader asked us a very good question in the comments section of a recent post. They wanted to know just who exactly the city parking meters had been sold to. The complaint was that this information was nowhere to be found in any of the traditional media sources. Of course, as is usually the case, the answer is there. One simply has to know where to look.
Reading many of the stories on the topic though, it was evident where the confusion stemmed from. Most of the pieces referred to the purchaser of the meters as Chicago Parking Meter LLC. Hmmm, not exactly enlightening. Leave it to Reuters (a financial news provider) and AM Law Daily (a law journal) to clear up the mystery.
As both stories explain, the meters were bought by a Morgan Stanley private equity fund, Morgan Staley Infrastructure Partners to be exact. Why invest in infrastructure? The fund's site gives this explanation:
Infrastructure believes that underlying trends in infrastructure-related sectors, including fundamental global supply and demand dynamics, provide a significant opportunity for generating attractive risk-adjusted returns with low volatility and low correlation to other asset classes.
It sounds complex, but basically the draw is supposed to be that infrastructure is a low-risk sector that doesn't behave the way other types of investments do. That certainly seems correct since a parking meter or a roadway isn't likely to either tank or soar with the S&P500 or the NASDAQ.
NOTE: The actual day-to-day administration of the meters will be handled by LAZ Parking.
So there you have it. Any other questions dear readers?
Photo by Roosevelt
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Anna Tarkov
What I love: my family, Chicago and Chicagoans, reading (mostly non-fiction), politics, media, discussing/debating almost anything, traveling, great TV shows like Mad Men, both films AND movies and fi More
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Comments
L-A-Z parking? Doesn't bode well for city revenues ;)
Hahaha, you know, I actually had the same thought. Glad I'm not the only goofball out there.
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