r/BeAmazed • u/Master_Support • 17d ago

History This is Wild..!!

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5.9k Upvotes

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u/GenTycho 17d ago

I'm gonna bet those that let it happen are getting kickbacks off it.

627

u/MarquisDeBoston 17d ago

Judging by the length of this contract, they earned those kickbacks. My goodness the boldness of this. Any basic ROI analysis would show this is a terrible idea.

They essentially took a 1.16B loan in 2008, where the city had to pay that back to the tune of 150M every year, for 75 years. Thats 13% annually. Thats a 975% return on the loan.

That’s like taking out a 1.16B mortgage at 11% for 75 years. <insert Shane Gillis doing Trump> it’s a terrible deal, the worst deal I’ve ever seen this guy. I said to him it’s a terrible deal they’re all going to laugh at you. I did, I told him that.

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u/CanisMajoris85 17d ago

That's ignoring price hikes as well. In a decade they could have increased prices by 50% easily so it could be $225M/year for over half the time.

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u/moronmcmoron1 17d ago

Imagine how much it will cost to park your car in downtown Chicago 30, 40, 50 years from now

1

u/Fast-Ad-6620 17d ago

50 bucks for 2 hours

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u/chienneux 16d ago

jokes on them... noncar with 15 minutes city allowed = 0 revenue

0

u/JasmineTeaInk 17d ago

Plus the city's population growing means it will naturally increase no matter what.

This might be an even better deal than the Louisiana purchase