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3/11/2005
New York City Parking Tickets: Big Business
New York city takes in $1 million a week From UPS, FedEx, Verizon in parking tickets.

UPS truck
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."

Article Excerpt:
"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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