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Was an unbelievable deal for the city of chicago

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Facing a huge projected 2009 budget deficit, Chicago Mayor Richard Daley struck a deal to lease the city's 36,000 parking meters to an investor group that included Morgan Stanley. Morgan Stanley and its partners would pay Chicago $1.2 billion up front; in return, they would collect revenue from parking meters for the next 75 years.

Problem 1: Was an unbelievable deal for the city of Chicago or for Morgan Stanley and its partners?

Reference no: EM132741846

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