The blog post from the the Atlantic Wire screams out the headline "Why Does Abu Dhabi Own All of Chicago's Parking Meters?" This is the first paragraph:
The city of Chicago has 36,000 parking meters. In 2008, it sold them on a 75 year lease for over one billion dollars. The buyers were led by Morgan Stanley. But as Matt Taibbi reports in his forthcoming book Griftopia, previewed in Rolling Stone, the state-owned investment arm of Abu Dhabi ended up owning a large share -- possibility a controlling majority -- in Chicago's parking meter system.
I'm not entirely sure that the words "lease" and "sale" are interchangeable, but ... oh, well.
And since Newburyport is buying only 6 (I believe) pay-and-display kiosks, the city could hardly reap a huge payday from the move ... but, hey, I have contacts in Kuwait!
Methinks the author of that blog was trying to stir up trouble ... something I try never to do ...
No comments:
Post a Comment