um this one is printing money. this is a monopoly. if they are not "showing" profits, it would be because they are trying to be shady or they are so inefficiently run
> CPM does not – and never has – set pay station parking rates. The City retains exclusive authority to determine and establish rates, set hours of operation, and place, add or remove metered spaces. The initial five‐year rate schedule, which ended in 2013, was approved by the City Council to align with rates comparable with other large U.S. cities. Prior to the agreement, parking rates in Chicago were much lower than the national average. Seventy percent of meters had not seen an increase in 20 years.
Doesn’t the word “recouped” imply the profit was at least enough to recover the investment cost (and millions more in this case), or am I missing something?
The word “recouped” was written by a journalist. The same journalist uses the word “revenues” as the source of recouping, not “profits”. They also use such strange constructions as:
> private investors have already extracted $2.1 billion from the deal, in part by refinancing three times.
What’s strange about that? The owners boost cash flow by jacking up parking rates, create a higher value for their asset, and take out a new loan against it. The original loan gets paid off and the owners get to take out the new equity based on the higher valuation.