Skip to comments.Port of Chicago attracts $500 million investment
Posted on 07/21/2013 8:37:56 PM PDT by Route797
The concrete on the buildings has chipped away, the "no parking" signs are fading and the pavement is filled with sedan-eating potholes.
The Port of Chicago hasn't had a major face-lift in more than 30 years and it shows. But a 62-year lease to a Colorado company announced Sunday will bring a $500 million private investment that city leaders say will modernize Chicago's port and bring its infrastructure into this century.
(Excerpt) Read more at chicagotribune.com ...
Saudi or Quatari money?
Looks like a semi-privatization. This is probably a good move for the city, and expect more of this as cites with budget problems need to sell assets.
And Rahm and some of his cronies fatten their bank accounts.
Any ports in Colorado?
Closest port to Colorado is Tulsa, OK. Doesn't have good beaches, either.
Too bad it comes with union labor - doomed to fail.
That 500 million will disappear like an snow ball in the summer sun...might as well burn it.
Meanwhile in Kingsport, a $1.2 billion expansion was announced and is in progress
$500 million won’t go far at all with corrupt unions involved; maybe some cut flowers and throw pillows. That’s chump change for unions.
If you’ve seen the concluding scene in the Chuck Norris movie “Code of Silence”, that’s the Port of Chicago.
The neighborhoods to the west of it (Pullman, Roseland) have turned into crime-ridden hell-holes with empty lots and abandoned buildings ala Detroit; the public housing south of it (Altgeld Gardens) has always been a dangerous dump; and the neighborhood just northeast of it (South Deering) has totally deteriorated over the past four decades once Wisconsin Steel shut down.
Oh, and for those who are interested, Altgeld Gardens and South Deering are where BO got his start in the community organizing racket.
If Romney had any kind of election brains working for him, he’d have filmed commercial after commercial using Chicago’s fraying infrastructure.
Obama has simply taken the Chicago Way national.