Australia's Macquaire bank is reportedly letting its parking operations in the US go back to its lenders. Read about it at PT's blog Here. It also seems that they could be having problems in Europe, too. Check this out
The parking business has dodged much of the problems with the economic downturn, however those that focus on airports and have a lot of debt, could have some problems. My interview with Park 'N Fly's new president in May's PT noted that there had been some downward pressure on their occupancy rates, somewhere in the 10-15% range. Seems that if Macquarie couldn't handle that's small downturn, they must have been leveraged to the hilt.
JVH
a down-ward occupancy rate is a a sure sign of economy decline nothing new in that.
Posted by: Harnadi Hidayat | 07 May 2009 at 06:24 PM