3/11/2005New York City Parking Tickets: Big Business
New York city takes in $1 million a week From UPS, FedEx, Verizon in parking tickets.
New York City has cut a deal with commercial vehicle owners over parking tickets. Although the city makes $1 million every week in parking ticket revenue from three companies -- UPS, FedEx and Verizon -- the city was losing $4.6 million in court costs because each company would fight individual citations.
So in exchange for lower parking fines (a $115 ticket becomes $98), these companies agreed not to contest tickets any more. The deal was signed last July, and the city still made $9.4 million from FedEx, $8.3 million from UPS, and $3.2 million from Verizon last year in parking tickets alone.
The companies just see this as "cost of doing business in New York."
"While these agreements say the program has to be revenue-neutral, the truth is we are coming out ahead because of what we are saving on processing, as are the companies," a spokeswoman for the Department of Finance, Joanna Perlman, said. "So it's a win-win for both."Source: Get a $115 Fine, Pay Only $98 (New York Sun, 3/11/2005)
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