According to a Racine Journal Times article in this morning’s paper, Racine will be selling the city’s cab service — to a Milwaukee businessman for a grand total of $1500. According to the article that’s about 23500 less than what it cost the city to start. This sale includes 3 — count them — 3 vehicles AND the exclusive right to cab services in the city for the next FOUR years.
Hmmm, I would’ve been willing to buy the cab service from the city for that price!
Abdul Hafiz, who also owns a gas station in Racine, offered the city $15000 originally. So, why didn’t we sell to him? Further another investor, Sally Pieske, wanted to buy the cab company for $16000! An even better bet!
So, why in this time of need, where budgets are constantly being cut and we’re told that everyone is broke, is Racine taking such a huge hit?
According to the article, Sam Aiello, the city’s purchasing agent; is quoted as saying, “In our mind, Abdul Hafiz was the best shot.[For selling the cab service] I want to give him every chance to succeed.”
How could he not when his investment is only $1500?