Press Detail

City spent $3.5M on failed Midway privatization deal

Posted on September 25, 2013

Chicago Sun-Times

This article discusses $3.5 million in fees the City of Chicago accrued from consultants, financial advisors and attorneys while reviewing two bids to privatize Midway Airport. Mayor Rahm Emanuel halted the deal after one of the two remaining bidding teams dropped out. The Civic Federation said it was wise for the City to devote these resources to careful evaluation, rather than risk selling a multibillion dollar asset without understanding the full impact of the deal.