A Playboy bunny costume, a signed jersey by former Chicago Cub Moises Alou and the Chicago Skyway. I wasn’t interested in bidding on any of the three.
But they were recently on the offer table in the backyard of Mayor Richard Daley’s city of Chicago. Cleverly called “The Great Chicago Fire Sale,” the two once-famous garment items were part of an auction that generated approximately $250,000. All proceeds went directly to Daley’s effort of trying to shovel the Great Lakes’ capital out from under about 20 ft of debt. It was an admirable idea, but I don’t think the mayor had a chance of throwing his back out chucking large amounts of financial red notes.
The Skyway bidding, however, played out on a much more grandiose and complex stage than someone’s 14-in. laptop. And, yes, it all went toward storm cleanup around city hall. For a bell-ringing $1.83 billion, the toll bridge was sold to the private sector—and Daley received keys to a super-powered plow. Privatization of this nation’s roads and bridges is alive and . . . well . . .
I must say my gut reaction was a little nauseating. I was hoping some of the money won raffling off the Skyway would go to improving the city’s infrastructure, which in terms of congestion ranks as one of the poorest in the nation.
The political arena, however, is a charity case that has the power to divert funds to its own cause.
My only two concerns about privatization are toll increases and maintenance. The Cintra-Macquarie Consortium, which is now the proud parent of the Skyway, can institute a set fare increase until 2017, when it’s basically free to charge a wheel and an axle to cross the bridge. As for upkeep, the span must stay in “good” or “better” condition during the life of the agreement. The Skyway just received a hefty upgrade over the past year, but the north end of the structure is not in “good” or “better” condition. However, $40 million in annual toll receipts was enough to bait the Cintra-Macquarie Consortium regardless of any instantaneous projects. Responding accordingly, the group raised the Skyway ride 50 cents. Effective Feb. 2 it will cost $2.50.
So how long until it’s a hefty $5 toll? After all, this is a private business, one which has profit margins pumping the blood. Investors have one trump card—Chicago’s inability to increase road capacity. In five years I’m willing to bet motorists will be jumping at the chance to jump on the Skyway. Of course, that will only lead to congestion, which would eventually require the construction of another bridge. Now, would this be the responsibility of the consortium or the city of Chicago? Mayor Daley is too busy shouldering the load of his decision right now. Union leaders delivered holiday cards to the chief’s office. Inside the greetings was a demand in raises, benefits and back pay. Union representatives said the money is available due to the city’s lease of none other than the Chicago Skyway Bridge. Better dig up a few more bunny costumes.
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