Monday, January 20, 2014

Bike Sharing Company Goes Bankrupt: Rahm Emanuel Kind of Quiet

Crain's Chicago Business reports:
The Montreal-based company that supplies the Divvy bicycle-sharing program in Chicago has filed for protection from creditors, according to published reports.

The filing by the Public Bike System Co. has forced the City of Montreal, which gave the company a financial bailout three years ago, to take over the firm's operations in that city.
There's more:
Mr. Emanuel's office last year announced a $3 million federal grant to fund 75 new Divvy stations, on top of 100 already slated for the city.
Yes, it's not the 1890's when bikes where a big deal.