Another example of our hyper-efficient capitalism - Chicago parking meters

[Strelnikov_]

Chicago parking meters: City rushes to fix meters and bill the company that leased them

http://www.chicagotribune.com/news/local/chi-parking-meters-26-mar26,0,2913674.story

Chicago is sending out its own mechanics—and billing the private company now responsible for operating parking meters in the city—in a belated effort to catch up on a torrent of problems that include broken meters and inaccurate signs about parking rates and enforcement, officials said Wednesday.

It followed a Tribune story on Friday that exposed the broad scope of the problems and how drivers and business owners are angry at the city, which watched parking rates quadruple this year as part of a 75-year deal to lease 36,000 meters to Chicago Parking Meters LLC for almost $1.2 billion.

Officials from Chicago Parking Meters, which is part of a joint venture led by the financial services giant Morgan Stanley, did not return phone calls from the Tribune this week.