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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: mishedlo who wrote (105288)12/5/2009 9:04:21 AM
From: Bucky Katt1 Recommendation  Read Replies (1) | Respond to of 116555
 
Big surprise out of Daleytown... Back in 2004, Daley was against the Olympics, and now that there won't be any, all the warts are sprouting.
This ties in with your take>
Message 25990624

In August 2004, Daley was busy ridiculing the idea of a Chicago Olympics.

"The Olympics is a construction industry," he told the Rotary Club. "They wanted $2 million from me just to make a proposal! They want to build everything new."
________________

And if Daley doesn't get the Olympics -- if the IOC chooses Rio, Tokyo or Madrid -- don't be surprised if this becomes the mayor's last term.

Because, after a 20-year spending spree, the money is finally gone. Daley is now so desperate for cash that he allowed parking meter rates to be increased, knowing there would be a public backlash.



To: mishedlo who wrote (105288)12/5/2009 5:15:42 PM
From: Hawkmoon  Respond to of 116555
 
Ah yes... the gears of the "Chicago Machine" continue to grind away (at the taxpayers)..

This was a bad deal from the beginning because it depended upon punitive income derived from parking offenders. That creates an incentive for the parking company managers to utilize corrupt manipulations to increase their income stream.

Good post Mish!! Glad to see you "drilling down" into some of these state focused issues.

Hawk