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Why does a fire truck cost $2m

These firefighters just wanted to save lives. Private equity had other ideas

And it’s not just in Chicago: Across the fire truck industry, increased consolidation has led to spikes in demand, production delays and sky-high prices, leaving departments nationwide scrambling to provide life-saving services to their citizens. Shifting contracts: “Here’s the real crime: now they have what they call floating prices,” says Ed Kelly, general president of the International Association of Fire Fighters (IAFF). Back in May, the IAFF co-authored a strongly worded letter to the Department of Justice, alongside the American Economic Liberties Project, urging them to investigate what it called an aggressive consolidation effort over the last decade.

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