Now it makes sense | Bleader

Wednesday, December 3, 2008

Now it makes sense

Posted By on 12.03.08 at 04:15 PM

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Earlier today the city's Department of Law handed aldermen copies of the accompanying flow chart (click on it to make it bigger) to provide them with some "clarity" on what business entities would be assuming control of the city's parking meters under a proposed $1.17 billion privatization deal.

Needless to say, it didn't exactly clear things up. 

"Can anyone understand this chart?" finance committee chairman Ed Burke asked his colleagues. No hands went up, though it was eventually suggested that various Morgan Stanley entities appear to have the largest stake. A few minutes later another alderman dropped a copy of the chart in front of me. Across the top he'd written "CLARITY."

Of course, the committee still ended up signing off on the ordinance [PDF] that authorizes the deal. More on how and why shortly.


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