Inside these posts: Privatization

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Daley won’t push to privatize Midway Airport

Mayor Richard Daley said Wednesday he will not push forward with a second attempt to privatize Midway Airport during the remainder this term, which ends next May.

“We’re not going to move on it,” Daley told the Chicago Tribune’s editorial board during a discussion of his proposed 2011 budget. “It will be up to the [next] mayor to make that decision.”

The mayor has pursued the idea as a way to bring a revenue windfall into city coffers, as happened with the outsourcing of parking meters and the long-term lease of the Chicago Skyway. But a proposed deal to lease Midway for 99 years for $2.5 billion fell through last year when the investors could not secure funding. Get the full story »

William Blair sued over parking meter privatization

From Bloomberg | A Chicago resident claims investment firm William Blair & Co. failed to properly assess the value of a $1.15 billion, 75-year parking meter privatization contract for the city. She is suing the firm, seeking group status on behalf of the city’s 2.8 million residents.