With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today.
This is an archival story that predates current editorial management.
This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.
Imagine if LA's Meters Were Enforced 24/7 & Owned by Morgan Stanley
Photo by jek in the box via LAist Featured Photos on Flickr
That's the hot mess happening in Chicago right now. In a 75-year, $1.15 billion lease between the City of Chicago and Morgan Stanley, the bank gets to operate and earn revenue from 36,000 parking meters and several parking structures in the city. Not only that, the city just significantly increased parking meter rates and expanded hours and enforecable hours--including Sundays, some holidays and 24/7 in downtown. The city still gets to enforce and keep revenue from parking tickets, but Morgan Stanley can do supplemental enforcement in parking garages.
Today, the LA Times said Mayor Antonio Villaraigosa's has been "quietly" exploring the idea for Los Angeles by "building a team of financial experts and attorneys who could advise him in structuring a deal." Will our 43,000 meters be under control of a private company next?
At LAist, we believe in journalism without censorship and the right of a free press to speak truth to those in power. Our hard-hitting watchdog reporting on local government, climate, and the ongoing housing and homelessness crisis is trustworthy, independent and freely accessible to everyone thanks to the support of readers like you.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
Senior Vice President News, Editor in Chief
