Politics, Weather, Photography, and the Dog
Friday 19 June 2009

The Chicago Reader has another article on the Chicago Parking Meter Debacle, this time examining who got rich off it:

Not only did William Blair advise the city on the deal—it came up with the idea in the first place. Then it provided the city with the only estimate it ever received of what the system was worth and coordinated the bidding process.

Two other financial services firms and three law firms were brought in to assist. All were given no-bid contracts for the work, and all appear to have political or personal ties to the Daley administration (which is not unusual for the way the city of Chicago does business).

The financial advisers were each paid a share of what the city made in cash on the lease deal. William Blair received 0.375 percent of the payout, or about $4.3 million, according to records obtained from the city through a FOIA request. The others, Gardner Rich and Ramirez & Company, each received 0.0625 percent, or $722,813. The attorneys’ fees added up to another $1.3 million. All told, the city paid its legal and financial advisers more than $7 million for their work on the deal.

Yeah? So where's mine?

Friday 19 June 2009 09:21:26 CDT (UTC-05:00)  |  | Chicago | Politics#
Search
On this page....
When $1 billion changes hands, someone gets rich off crumbs
Countdowns
The Daily Parker +3174d 10h 45m
My next birthday 43d 00h 45m
Parker's 9th birthday 327d 02h 28m
Categories
Aviation (317) Baseball (104) Best Bars (4) Biking (43) Chicago (861) Cubs (192) Duke (132) Geography (309) Higher Ground (5) Jokes (282) Kitchen Sink (609) London (39) Parker (185) Daily (204) Photography (139) Politics (302) US (1049) World (239) Raleigh (20) Readings (8) Religion (62) San Francisco (83) Software (196) Blogs (71) Business (221) Cloud (88) Cool links (128) Security (98) Travel (161) Weather (669) Astronomy (76) Windows Azure (58) Work (36) Writing (8)
Links
Archive
<July 2014>
SunMonTueWedThuFriSat
293012345
6789101112
13141516171819
20212223242526
272829303112
3456789
Full archive
Blogroll
About
David Braverman and Parker
David Braverman is a software developer in Chicago, and the creator of Weather Now. Parker is the most adorable dog on the planet, 80% of the time.
Legal
All content Copyright ©2014 David Braverman.
Creative Commons License
The Daily Parker by David Braverman is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License, excluding photographs, which may not be republished unless otherwise noted.
Admin Login
Sign In
Blog Stats
Total Posts: 4394
This Year: 292
This Month: 31
This Week: 4
Comments: 0