Redflex Ousted From Chicago; Is Arizona Next?

In case you missed it:

Just in time for the Scamera Ban bill to be filed in Arizona Legislature, the ground is crumbling around Redflex Traffic Systems, who used to own the freeway photo radar system in this state.

Now Redflex is losing a huge chunk of business that was even bigger than Arizona /DPS. The corruption at Redflex is so bad that even Mayor Rahm Emanuel of Chicago, who brought Redflex in as a lobbyist, has now been forced to cancel their contract, effective July 2013.

HB 2579 would make photo radar and red light cameras illegal in Arizona. It should be heard in the AZ House Transportation Committee this week.
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13% of Redflex Traffic Systems’ yearly revenue will evaporate in the next 6 months.

You don’t have to take our word for it, just check their latest news release [here].

This one is going to hurt and Redflex knows it. Last Wednesday, the foreign held camera vendor requested that the Australian Stock Exchange halt trading their stock ahead of the news that hit on Friday about the massive corruption in Chicago and the ongoing internal investigation.

The AUS gave them their wish, but it only temporarily staved off the investor bloodletting which came during Monday’s resumed trading of Redflex common shares.

At close of market, the stock had lost nearly 25% of its value as news hit the wires in Australia about the coming demise of Redflex’s largest (by far) contract. By 2012 figures, this would mean the company will start losing money very quickly.

Redflex’s deal with Macquarie Bank in 2011 fell apart in late negotiations after a shareholder revolt, but don’t be surprised to see them seek a bidder or have a hostile takeover bid before the summer of 2013.

The news is especially problematic as legislatures in Arizona, Colorado, Florida and Ohio are considering bills to make photo ticketing illegal in their respective states… [Continue Reading]

5 Responses to Redflex Ousted From Chicago; Is Arizona Next?

  1. Kim Dyer says:

    You guys are a bunch of fakes. You get your data base filled then move forward to the next victims. YOU WORK FOR REDFLEX. Get a life already disinformation pervert shills.

    Sent from my iPhone

    On Feb 11, 2013, at 10:38 PM, “ – The Cameras are Coming

  2. Sam says:

    The fight isn’t over, and we can never forget the traitors to the constitution that work for ATS and RedFlex. They must be imprisoned or deported for their traitorous acts against their fellow American. Until we oust them from our country, we should be ashamed to count them as one of us.

    Don’t give me any lines of “just doing their job” or “feeding their family” either. You have a choice for whom you work. To chose to work there means you are no better than a prison guard who worked at the internment camps. A person who sees what they do, and goes along with it just to earn a paycheck. The very definition of scum.

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    but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all
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