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Garage-leasing plan hits speed bump

waggy

waggy

No Lifer
http://www.chicagotribune.com/news/poli...tory,1,4613040.story?coll=chi-news-hed


A plan to lease four downtown parking garages for $563 million won the approval of the City Council's Finance Committee on Monday, but not before an angry alderman vowed to file suit to block the transaction.

Morgan Stanley's Investment Management Division was the high bidder for a 99-year lease for the city's Millennium Park garage and three facilities owned by the Chicago Park District-the Grant Park North, Grant Park South and East Monroe Street garages.

But Ald. Dorothy Tillman (3rd) contended that Morgan Stanley violated a city ordinance by failing to disclose past ties to slavery in a required filing with the city.

Companies that do business with the city must reveal if they or their predecessor firms once had investments in slavery or profited from the slave trade.

The city Law Department concluded that Morgan Stanley correctly checked the "no" box. J.P. Morgan and Co. had slavery connections, but Morgan Stanley could not be considered a successor, according to city lawyers. Its founders once worked for J.P. Morgan, but left in 1935 to form the investment banking firm.

With the help of attorneys active in the reparations movement, Tillman said she will file suit.

Referring to the 99-year length of the proposed garage lease, Tillman declared, "My people suffered for 400 years, and there would not be J.P. Morgan if black folks didn't work free."

Ald. Edward Burke (14th), the committee's chairman, said, "I think there may be a legitimate difference of opinion. Ald. Tillman has articulated that. If she goes to court, hopefully we will get the direction of the court."





urrh. wow. not really sure what to say. just fricken amazing.
 
Reparations! We need reparations!!!

It is a truly sad state of affairs for Chicago if you guys have a nutjob like this as an alderman. Of course this looks like an open and shut case.
 
Originally posted by: spidey07
Reparations! We need reparations!!!

It is a truly sad state of affairs for Chicago if you guys have a nutjob like this as an alderman. Of course this looks like an open and shut case.
Click to expand...


not really. chicago politcs are some of the worst around. it wouldnt suprise me if the company gets hit with huge penalties.

hell they are already getting sued.


 
Why is it even a requirement to disclose past ties to slavery? 😕 As if it has any bearing on the company now? What an idiotic basis for deciding who the city should do business with.
 
Originally posted by: spidey07
Reparations! We need reparations!!!

It is a truly sad state of affairs for Chicago if you guys have a nutjob like this as an alderman. Of course this looks like an open and shut case.
Click to expand...

Dorothy Tillman's always had somewhat of a reputation for outlandishness.
 
Originally posted by: mugs
Why is it even a requirement to disclose past ties to slavery? 😕 As if it has any bearing on the company now? What an idiotic basis for deciding who the city should do business with.
Click to expand...

No kidding, the government had strong ties to slavery, including the Presidents owning slaves themselves. Talk about idiocy.
 
People need to get over that crap. Where does it end? The vast majority of my family are Norwegian and I hope I don't have to ever go back and disclose whatever crazy crap my Viking ancestors did. If so I would totally be boned; whatever they did back then surely must have pissed off some people.
 
Originally posted by: mugs
Why is it even a requirement to disclose past ties to slavery? 😕 As if it has any bearing on the company now? What an idiotic basis for deciding who the city should do business with.
Click to expand...

does it have a bearing on the company now? for reperations yes. this way they can hurt companys that profited from the slave trade.

 
Chicago has some bizzare laws on the books.

My dad's wife had to certify that she was not currently or ever had been a prostitute or madam in order to permit a property transfer.

Seriously.
 
Originally posted by: K1052
Chicago has some bizzare laws on the books.

My dad's wife had to certify that she was not currently or ever had been a prostitute or madam in order to permit a property transfer.

Seriously.
Click to expand...
That raises an interesting question: what happens when an ex-prostitute wants to clean up their life and tries to sell their car?
 
Originally posted by: yukichigai
Originally posted by: K1052
Chicago has some bizzare laws on the books.

My dad's wife had to certify that she was not currently or ever had been a prostitute or madam in order to permit a property transfer.

Seriously.
Click to expand...
That raises an interesting question: what happens when an ex-prostitute wants to clean up their life and tries to sell their car?
Click to expand...

As long as the car is not subject to the City of Chicago (or as I affectionately call it, the COC) Entertainment tax then she should be ok....until the COC hits her up for the COC sticker that allows here the pleasure of owning a movable money pit....err.. automobile here.
 
Of course we all know that's not what it's really about. It's just about squeezing as much money out of people as possible for personal gain. They just put on a facade of reparations to give themselves a shred of legitimacy.
 
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