Ah, the fallout from Chicago's parking meter lease deal is like a gift that keeps on giving... to the new owners of the meters, that is.

WGN-TV reports this morning, that according to the records of Chicago Parking Meters, LLC, the new, higher parking rates in the city of Chicago are netting the company profits of about a million-dollars-per-week.  Yep.  PER WEEK.

Just imagine, if, instead of selling out the meters for a lump cash sum, The King had just bumped up the meter rates for the city... then he would have had a steady stream of revenue for the rest of time. 

Oh, and guess what... the rates are going up AGAIN on Jan. 1, 2010.

Here's the Deal:

2009 Rates           2010 Rates          % Increase

$1.00/hour            $1.25/hour             25%

$2.00/hour            $2.50/hour             25%

$3.50/hour            $4.25/hour             21%

Looks like the company will also be well into the black next year.