Who Owns Those Pesky Parking Meters?
So, you’ve been slapped with another parking ticket, huh? You’re probably fuming, cursing the city, the world, and maybe even your own terrible luck. But have you ever wondered who’s actually laughing all the way to the bank? Let’s dive into the murky waters of Chicago’s parking meter saga.
A Tale of Two Cities (Or One City and a Bunch of Investors)
You know how in movies, there’s always a shadowy figure pulling the strings? Well, in the case of Chicago’s parking meters, those strings are held by a mysterious entity called Chicago Parking Meters LLC. Now, you might be thinking, "Great, another faceless corporation." And you'd be absolutely right.
But here's the kicker: this isn't your average corporation. It's more like a global financial octopus, with tentacles reaching far beyond the Windy City. At the heart of it all are two main players: Deeside Investments and Redoma S.a.r.l. Think of them as the Bonnie and Clyde of parking meters, except without the glamour and the cool nicknames.
A Deal Gone Wrong (For Chicago, That Is)
Let’s rewind a bit. Back in 2008, Chicago was facing a budget crisis. Desperate times call for desperate measures, right? So, the city decided to sell the rights to operate its parking meters for a whopping 75 years. And who were the lucky winners? You guessed it – Chicago Parking Meters LLC.
In exchange for this golden ticket to parking meter paradise, the city received a cool billion dollars. Sounds like a win, right? Well, not so fast. Fast forward a few years, and it became painfully clear that this deal was about as smart as using a fire extinguisher to put out a grease fire. The parking meter rates skyrocketed, angering residents and tourists alike. Meanwhile, the city burned through the billion-dollar windfall faster than you can say "expired meter."
The Big Kahuna: Who's Really in Charge?
While Deeside Investments and Redoma S.a.r.l. are the main shareholders, it's worth noting that there's a whole cast of supporting characters involved. Think of it like a really expensive game of Monopoly, with properties spread across continents. Morgan Stanley, a global financial giant, is also a major player. And let's not forget about some mysterious foreign investors who seem to have a penchant for parking meters.
So, the next time you’re cursing out a parking meter, remember: you’re not just fighting city hall. You’re battling a global financial behemoth. It's a David and Goliath situation, except David is a frustrated driver and Goliath is a company that makes money from people forgetting where they parked.
How to... Parking Meter Edition
- How to find a free parking spot: This is a skill, not a science. Develop ESP, or just plan your day around public transportation.
- How to avoid getting a parking ticket: Time travel or invisibility might help. Failing that, try reading the meter carefully.
- How to appeal a parking ticket: Prepare for a bureaucratic rollercoaster. Bring popcorn.
- How to make money from parking meters: Invent a self-driving car that can parallel park and pay the meter. Patent it. Become rich.
- How to get the city to renegotiate the parking meter deal: Good luck with that. Maybe start a viral social media campaign?
So, there you have it. The sordid tale of Chicago’s parking meters. It's a story of greed, bad deals, and the enduring frustration of drivers everywhere. But hey, at least it's a good conversation starter at parties.