Chicago sold the Chicago Skyway for 1. 8 billion
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Date: 2019-09-12
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Comments and reviews: 10
andrewwantsafreetibet
Sounds like selling the skyway may have been a logical decision for Chicago when it was first built, but when the city actually did sell it it was a terrible idea because back then it was actually profitable and not bleeding money like when it was first built. Nowadays, not only does the toll for driving on the Skyway not benefit the people of Chicago because they do not make money from it anymore, but also the tolls are much higher now than when it was owned by the Chicago city government. Clearly a bad deal for both drivers and residents of Chicago. The Chicago Skyway is a textbook example of how privatization does not benefit the residents of an area or the people that pass through it, but instead only benefits the people up-top that bought it and the politicians who sold it. In short, privatization of any kind is unacceptable, and all transportation infrastructure, no ifs, ands, or buts, should be owned by the government, whether it be federal, state, or local, for the benefit of the public.
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Sounds like selling the skyway may have been a logical decision for Chicago when it was first built, but when the city actually did sell it it was a terrible idea because back then it was actually profitable and not bleeding money like when it was first built. Nowadays, not only does the toll for driving on the Skyway not benefit the people of Chicago because they do not make money from it anymore, but also the tolls are much higher now than when it was owned by the Chicago city government. Clearly a bad deal for both drivers and residents of Chicago. The Chicago Skyway is a textbook example of how privatization does not benefit the residents of an area or the people that pass through it, but instead only benefits the people up-top that bought it and the politicians who sold it. In short, privatization of any kind is unacceptable, and all transportation infrastructure, no ifs, ands, or buts, should be owned by the government, whether it be federal, state, or local, for the benefit of the public.
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Ted Petry
And yet Chicago is so deep in debt, they have poor a poor rating. I sure am wondering how 1. 8 billion disappeared. Seems to me that pet projects among other things were paid for, and the city was left deeper in debt. Now Emanuel borrowed more millions, if not over a billion, and will let the taxpayers pay that debt. It will be our children's children who will still be struggling to help pay that, if the city is even around, or goes bankrupt. Thank the politicians once again, for not making sure the city was out of debt. No wonder there are so many people leaving the city, with high taxes, high property taxes, and just seeing the mismanagement of public funds. I believe we also have the most politicians in jail or are being investigated. Streets have potholes, the city cannot pay its bills, and yet politicians are getting paid, with an abundance of aldermen, and city workers who don't do much, sure shows where the tax money is going. Not for improvements or debt reduction.
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And yet Chicago is so deep in debt, they have poor a poor rating. I sure am wondering how 1. 8 billion disappeared. Seems to me that pet projects among other things were paid for, and the city was left deeper in debt. Now Emanuel borrowed more millions, if not over a billion, and will let the taxpayers pay that debt. It will be our children's children who will still be struggling to help pay that, if the city is even around, or goes bankrupt. Thank the politicians once again, for not making sure the city was out of debt. No wonder there are so many people leaving the city, with high taxes, high property taxes, and just seeing the mismanagement of public funds. I believe we also have the most politicians in jail or are being investigated. Streets have potholes, the city cannot pay its bills, and yet politicians are getting paid, with an abundance of aldermen, and city workers who don't do much, sure shows where the tax money is going. Not for improvements or debt reduction.
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Blackfeather Tanfur
For those either praising or condemning the sale of the Skyway, look at the numbers. Follow the money is always good when looking at politics. What is the actual cost of maintenance (and is it keeping up, not being deferred? And what is the cost of debt servicing (if it was paid for with no loan, there's still opportunity cost of other uses of that money? When that is all calculated, what is the return? Is it above average? Also look at the risk. Business entails risk, and that should be factored in as well (if it's super-safe, even, might reduce the cost. That ultimate number should tell one if it's great, or if it's bad, how bad. The total ROI is what matters here. The city here has also reduced its risk of maintenance costs (or lawsuit if they fail in expected maintenance. Don't get me wrong, I'd rather public use facilities be owned publicly. But there's always trade-offs. I wouldn't know the trade-off here without seeing the numbers.
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For those either praising or condemning the sale of the Skyway, look at the numbers. Follow the money is always good when looking at politics. What is the actual cost of maintenance (and is it keeping up, not being deferred? And what is the cost of debt servicing (if it was paid for with no loan, there's still opportunity cost of other uses of that money? When that is all calculated, what is the return? Is it above average? Also look at the risk. Business entails risk, and that should be factored in as well (if it's super-safe, even, might reduce the cost. That ultimate number should tell one if it's great, or if it's bad, how bad. The total ROI is what matters here. The city here has also reduced its risk of maintenance costs (or lawsuit if they fail in expected maintenance. Don't get me wrong, I'd rather public use facilities be owned publicly. But there's always trade-offs. I wouldn't know the trade-off here without seeing the numbers.
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Quad8track
City Beautiful. I usually respect what you say in your videos but in this case, you're showing a pro-Chicago political machine / anti Indiana bias. I grew up in Miller Beach section of Gary, Indiana. The Chicago Skyway was a very important, vital route in to Chicago. My parents used it everyday to get to & from work in Chicago. Sure utilization is low but that was the whole point. The southern Tri-State Expressway that links with the Dan Ryan is much further than a couple of miles south. The free Tri-state Expressway is plagued with traffic jams and often has construction projects that slow down commuters. It can take over 2 hours to get from Gary to downtown on that free Tri-state/Dan Ryan route you suggested - and uses more gas. Takes less than 20 minutes to get from Gary to Chicago using the toll road Skyway route - and uses less gas.
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City Beautiful. I usually respect what you say in your videos but in this case, you're showing a pro-Chicago political machine / anti Indiana bias. I grew up in Miller Beach section of Gary, Indiana. The Chicago Skyway was a very important, vital route in to Chicago. My parents used it everyday to get to & from work in Chicago. Sure utilization is low but that was the whole point. The southern Tri-State Expressway that links with the Dan Ryan is much further than a couple of miles south. The free Tri-state Expressway is plagued with traffic jams and often has construction projects that slow down commuters. It can take over 2 hours to get from Gary to downtown on that free Tri-state/Dan Ryan route you suggested - and uses more gas. Takes less than 20 minutes to get from Gary to Chicago using the toll road Skyway route - and uses less gas.
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Malleus Maleficarum
The majority of Chicago's problems stem from the fact that the city is run by Democrats, and has been for a long time now. Almost the same thing is happening in California, only much worse. Democrats hold the majority of the public offices in California, and they have turned most of their major cities into literal shitholes, especially San Diego, with their ridiculous liberal policies. San Diego has to spray their streets down with bleach because of all the people shitting on the sidewalks spreading hepatitis A. What has this world become. California needs to get some people in office that will affect some sort of change and not just give themselves raises because they think they're doing such a great job.
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The majority of Chicago's problems stem from the fact that the city is run by Democrats, and has been for a long time now. Almost the same thing is happening in California, only much worse. Democrats hold the majority of the public offices in California, and they have turned most of their major cities into literal shitholes, especially San Diego, with their ridiculous liberal policies. San Diego has to spray their streets down with bleach because of all the people shitting on the sidewalks spreading hepatitis A. What has this world become. California needs to get some people in office that will affect some sort of change and not just give themselves raises because they think they're doing such a great job.
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misterlv
Well that's hilarious. Indiana residents said, we don't want to pay for Chicago neighborhoods, we don't live there so it's not our problem. Ok fine, we'll sell the bridge to this guy then you can complain to him instead of us, and we're still getting money for Chicago neighborhoods, so we're still going to win no matter what I bet now those Indiana residents wish they would've kept their mouths shut. Too late This should be a learning lesson for people who like to cry and moan about every little thing. Sometimes all that whining can get you in an even worse situation, then it's too late to go back and say we sorry. Nope, don't want to hear it.
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Well that's hilarious. Indiana residents said, we don't want to pay for Chicago neighborhoods, we don't live there so it's not our problem. Ok fine, we'll sell the bridge to this guy then you can complain to him instead of us, and we're still getting money for Chicago neighborhoods, so we're still going to win no matter what I bet now those Indiana residents wish they would've kept their mouths shut. Too late This should be a learning lesson for people who like to cry and moan about every little thing. Sometimes all that whining can get you in an even worse situation, then it's too late to go back and say we sorry. Nope, don't want to hear it.
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Papa
I agree that the saddest thing for Indiana commuters is that they have to pay such a high toll and it doesn't benefit them in any way. BUTI think the saddest thing for Illinois residents is that now, state officials believe that putting tolls on any new or rebuilt expressway is the antidote for all of our problems. Don't believe me? Look up the following: Illinois 390 (formerly the Elgin O'Hare Expressway)Interstate 490 (coming soon)Illiana Tollway (New, from I65 to I57)Adlai E. Stevenson (I55, next rebuild to feature tolls) Lake Shore Drive, U S. 41 (Tolls a good idea - Mayor Rahm Emanuel)Time to leave Illinois, I think. Papa has spoken
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I agree that the saddest thing for Indiana commuters is that they have to pay such a high toll and it doesn't benefit them in any way. BUTI think the saddest thing for Illinois residents is that now, state officials believe that putting tolls on any new or rebuilt expressway is the antidote for all of our problems. Don't believe me? Look up the following: Illinois 390 (formerly the Elgin O'Hare Expressway)Interstate 490 (coming soon)Illiana Tollway (New, from I65 to I57)Adlai E. Stevenson (I55, next rebuild to feature tolls) Lake Shore Drive, U S. 41 (Tolls a good idea - Mayor Rahm Emanuel)Time to leave Illinois, I think. Papa has spoken
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Sunset Cliff
The word skyway sounds so lovely. when the reality is the road is a dump. I was thru there and I paid the toll, the gate would not go up. so I paid the toll a 2nd time. the gate would not go up. So I pushed the button to call for help. and help never came. now think about this. it is illegal to back up, and it is illegal to crash the gate. Help never came. so in theory, I am still there waiting. Now lets suppose their malfunction cause a busload of blind orphans to tip over and mame them - and lets suppose this occurred because of faulty management of the bridge, specifically the toll gate. now who is legally liable?
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The word skyway sounds so lovely. when the reality is the road is a dump. I was thru there and I paid the toll, the gate would not go up. so I paid the toll a 2nd time. the gate would not go up. So I pushed the button to call for help. and help never came. now think about this. it is illegal to back up, and it is illegal to crash the gate. Help never came. so in theory, I am still there waiting. Now lets suppose their malfunction cause a busload of blind orphans to tip over and mame them - and lets suppose this occurred because of faulty management of the bridge, specifically the toll gate. now who is legally liable?
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Terri Bel Bliss
This is an interesting story and you've told it well. As a Chicago resident I will say this; from downtown to I80 is much quicker than 94 especially during certain times of day. If you take Lake Shore Dr and connect via Mlk drive your there. But the real bonus is the very scenic drive both leaving and coming. Out bound You pass through Jackson park, U of C and museum campuses and soon to be Obama Library. . Upon entry you see the Magnificence of the city. Especially at night. It is electrifying and worth the five dollar toll. I might suggest you do a video on the privatization metered parking in Chicago.
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This is an interesting story and you've told it well. As a Chicago resident I will say this; from downtown to I80 is much quicker than 94 especially during certain times of day. If you take Lake Shore Dr and connect via Mlk drive your there. But the real bonus is the very scenic drive both leaving and coming. Out bound You pass through Jackson park, U of C and museum campuses and soon to be Obama Library. . Upon entry you see the Magnificence of the city. Especially at night. It is electrifying and worth the five dollar toll. I might suggest you do a video on the privatization metered parking in Chicago.
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ygg drasil
In the near future, mass transit and AVs will manage within-city travel, and high speed rail will connect cities together to manage intercity travel, where you will get an AV upon arrival. Why would you drive your own 1. 5 tonne car several 100s of miles at a very slow speed when you can take a HSR train at 3x or 4x the speed, and then immediately get an AV to take you to your final destination. That means all these dumb urban freeways and tollways will become redundant, because they are only there to get a personally owned vehicle to the final destination in the centre of a city from an interstate journey.
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In the near future, mass transit and AVs will manage within-city travel, and high speed rail will connect cities together to manage intercity travel, where you will get an AV upon arrival. Why would you drive your own 1. 5 tonne car several 100s of miles at a very slow speed when you can take a HSR train at 3x or 4x the speed, and then immediately get an AV to take you to your final destination. That means all these dumb urban freeways and tollways will become redundant, because they are only there to get a personally owned vehicle to the final destination in the centre of a city from an interstate journey.
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