Get sick, get well
Hang around a ink well
Ring bell, hard to tell
If anything is goin' to sell
-- Bob Dylan

Saturday, August 3, 2013

The selling of Chicago

CFO Lois Scott refuses to reveal specifics of  Midway privatization. 
Like Daley's selling of the city's parking spaces, Rahm is doing his sell-off of Midway Airport in the dark, until after the deal is done.

He's using the manufactured pension crisis to justify the further looting and burning of Chicago the same way that Daley used the city's debt crisis to cut his parking meter deal and the selling off of the Skyway before that. Neither deal did anything to get the city back on sound financial footing.

The victims of all this is what's left of public space -- schools, clinics, mass transit, and housing projects, none of whom will benefit from the Airport deal.

Fran Spielman at the Sun-Times reports:
In a meeting with the Chicago Sun-Times editorial board to discuss the city’s financial crisis, Chief Financial Officer Lois Scott refused to discuss specifics of the competition or the potential for a $2 billion windfall. Nor would she say when final bids are due or even confirm that only two bid teams remain. 
 The only question is whether a reluctant City Council would go along with the idea.
Of course they will. When have they ever said NO?

Last week, Bloomberg reported that the Midway sweepstakes was down to two bidding groups and that a contract could be awarded as soon as this fall. The rivals were identified as Great Lakes Airport Alliance — a partnership between Spain’s Ferrovial and Macquarie Group, which leased the Chicago Skyway for 99 years — and a team that includes Industry Funds Management of Australia and Manchester Airports Group.

Best quote comes from Ald. O'Connor:
“Any time one talks about privatizing a municipal asset, immediately the next words out of their mouth is, ‘parking meters.’ 
Ya think?

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