stackyFACTSIn a display of stunningly short-sighted municipal planning, a major metropolis leased its entire parking meter system to a private consortium for seventy-five years.
In a display of stunningly short-sighted municipal planning, a major metropolis leased its entire parking meter system to a private consortium for seventy-five years. The city received a lump sum upfront, which it quickly burned through, while the private group gained the right to continuously hike hourly rates. Now, residents pay astronomical fees directly to private accounts, and the city actually has to compensate the consortium anytime they close a street for a parade.
Keep exploring facts in this topic.
Economy →STACKY FOR IPHONEKeep discovering with Stacky. Interesting facts in an app that is always within reach.
When Latvia broke free from the USSR in the early 90s, the state owned almost everything. Their solution to kickstart capitalism was handing out privatization…
Discover more
It is amazing how fast people decide they don't need to drive when it costs five extra dollars. Congestion pricing perfectly balances supply and demand on…
Discover more
Tapping into the infinite warmth of the earth's crust sounds wonderfully utopian until you see the installation bill. To harness geothermal stability,…
Discover more
Leave it to human engineering to build something so permanent that undoing it bankrupts the county. Dismantling a massive concrete river blockade requires…
Discover more
Burning coal or natural gas to make electricity is spectacularly inefficient. Over half of the energy generated in a standard thermal plant vanishes straight…
Discover more
Private prison corporations in the United States frequently include deeply dystopian lockup quotas in their contracts with state governments, legally…
Discover more