3min chapter

99% Invisible cover image

Paved Paradise

99% Invisible

CHAPTER

The Importance of Parking Meters

In 2008, the mayor of Chicago sold all 36,000 parking meters to Morgan Stanley for $1.1 billion. John Sutter: The city council accepted the deal without even reading the contract. He says raising meter rates is very unpopular and that's why they've gotten so cheap. Sutter: More money comes from parking punishment than from actually the parking meters themselves.

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