
Coins? Cards? Apps? The hell that is paying for parking in L.A.
He tried to scan the QR code with his phone but the screen was so scratched with graffiti it didn't work. So he sent a text to the number on the 'Pay to Park' sticker below the coin slot. After waiting for a minute and wondering if the text went through, he received a text back with a link to a website. He opened the site on his phone and typed in his credit card number and address. But before he completed the payment, the site alerted him that he would have to pay an additional processing fee just to park for 15 minutes.
'It was only 35 cents, but I was like, 'Forget this, I'll find a stale bagel in the office,' ' Glaeser said.
Finding parking in the L.A. area has long been a struggle, but these days, paying for parking can be just as odious. Depending on whether you're parking in L.A., Santa Monica, Beverly Hills or Pasadena, a meter might ask you to pay with quarters, a credit card, an app or some combination of all three. In public lots, you might need to memorize a zone, space number or license plate and often don't know which one until you get to the pay station. It's enough to make a law-abiding citizen give up, cross her fingers and hope a parking enforcement official doesn't pass by.
As 25-year-old comedy writer Emma Parsons of Palms put it: 'Parking is already one of the things I hate the most. I don't want to spend more time on it.'
People who study parking acknowledge that the proliferation of parking apps and other methods of payments has made the modern experience of paying for parking unusually complicated and frustrating. The two parking apps L.A. city uses — Park Smarter and ParkMobile — do offer useful innovations like alerting drivers when a parking session is about to expire and allowing them to add more time remotely, but when each city in the SoCal area has contracted with a different app that has to be downloaded on the street in order to avoid a ticket, those perks may no longer seem worth it.
Parking apps have been around for more than a decade but researchers say Southern California is still in the early stages of their evolution with a host of providers vying to become the default method of payment for the region. Just as the universal adoption of the USB-C cable has streamlined the ability to charge a variety of devices at home, whether they're made by Apple, Samsung or another company, experts say a single parking app that allows drivers to pay for parking at meters and lots across the region would greatly reduce frustration and increase compliance. They're not advocating for one company to have a monopoly on Southern California's parking meters or for a law that restricts competition, but they say a more uniform system is possible. For instance, Europe's EasyPark app operates in 20 countries and more than 3,200 cities.
'We're a bit behind the curve,' said Mike Manville, professor of urban planning at UCLA and author of the recent paper 'The Causes and Consequences of Curb Parking Management.' 'The apps aren't new, but they haven't quite gotten sorted out to a point where we can see if we are going to get some standardization.'
Tony Jordan of the Parking Reform Network, a nonprofit organization that educates the public about the impact of parking policy on climate change, equity, housing and traffic, said he's hopeful that a more streamlined system will come soon.
'I think we're getting close,' he said. 'The technology is getting there both on enforcement and payment. If we make it through the next couple of years, this problem might get better.'
Los Angeles, home of the nation's first freeway and drive-in church, has long been ambivalent if not downright antagonistic toward paid parking. The city installed its first parking meters in North Hollywood in the summer of 1949 (five cents an hour) but only after the city council rejected three previous attempts to put meters on the streets in 1940, 1942 and 1946. Editorials in this newspaper at the time railed against parking meters, with one declaring it would be 'just as fair to install turnstiles for sidewalk pedestrians.'
The city kept meter prices fixed for 17 years from 1992 until 2008, when it raised prices as high as $4 an hour for metered parking in the most congested areas. The first meters that accepted credit cards were installed in 2010, years after most people had stopped carrying loose change. As the late Donald Shoup, a professor at UCLA and beloved guru of parking studies used to say, the parking meter was one of the few inventions that barely changed from its inception in 1928.
Today the L.A. Department of Transportation operates 35,261 metered spaces, including 32,944 on-street metered spaces and 2,317 off-street metered spaces, said LADOT spokesperson Colin Sweeney. It also manages 11,347 off-street parking spaces in lots and garages. Collectively, those meters and pay stations collected approximately $40 million in the last fiscal year.
Apps to pay for parking were first introduced in L.A. in 2014, and the widespread adoption of contactless options was accelerated due to the pandemic. Despite some drivers' frustrations, the city is now leaning further into mobile payments for parking. Text-to-pay options will be available on all L.A. meters by the end of 2025 and app payment and tap-to-pay will be installed on all L.A.'s parking meters by the end of 2026. At the same time, meters in the L.A. area will continue to accept both coins and cards as well, Sweeney said — as long as the coin slots aren't jammed and the card reader works. (Gleaser should have been able to pay by card at the Larchmont Boulevard meter unless the reader was broken, Sweeney said.)
The agency also plans to install new and improved parking equipment at LADOT parking facilities and improve wayfinding signage to those facilities. According to the LADOT website, there are currently no plans to add Apple Pay to meters.
Parking apps will likely become more intuitive over time as providers work out the kinks and users become more accustomed to them, but for now, Angelenos must navigate the city's parking payment woes as best they can.
Parsons, the 25-year-old comedy writer, has taken to keeping a pill bottle filled with quarters in both her purse and car since moving to L.A. in January because she's found paying for parking with coins easier and quicker than any other method.
'I never carried cash around with me in my life, but I don't want to download an app every time I go somewhere new,' she said. 'It's rare that I have a dollar bill on me but paying for parking with quarters is great. I love it.'
Leah Ferrazzani, who lives in L.A. and works in Pasadena, said she currently has four parking apps on her phone — two for L.A., one for Pasadena and one for USC, where she goes for medical appointments.
'The only one that makes my life easier is the Pasadena one because it is the most user-friendly and because I work here so it's the one I use most often,' she said.
Even the most app-savvy have found the current systems frustrating. Jonathan Badeen, a 43-year-old resident of Sherman Oaks and co-founder of the dating website Tinder recently spent 10 minutes trying to figure out how to pay a meter on Ventura Boulevard when his iPhone couldn't read the QR code on the screen before he eventually gave up. In the end, he spent more time trying to pay for parking than running his errand.
Badeen is glad meters have evolved from the quarters-only era he remembers from his early days in L.A. in the aughts, but he also thinks parking apps aren't making parking easier for anyone.
'Unless the country or city or the whole metro area wants to standardize on something or they slap an Apple Pay on there, I think it's a bad idea,' said the man who invented swipe right. 'And I know something about apps.'
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As of Aug. 1, S&P 500 firms are tracking for 10.3% earnings growth for Q2. If that rate holds, it will mark the third straight quarter of double-digit earnings growth for the index. Investors are still waiting to hear from the remaining third of companies, however. On deck next week are results from AMD (AMD), Snap (SNAP), McDonald's (MCD), Disney (DIS), Uber (UBER), Lyft (LYFT), and more. Here's a look at the earnings calendar for the next five business days: Monday: BioNTech (BNTX), Hims & Hers (HIMS), Palantir (PLTR) Tuesday: AMD (AMD), Amgen (AMGN), BP (BP), Caterpillar (CAT), Duke Energy (DUK), DuPont (DD), Lemonade (LMND), Marathon Petroleum (MPC), Marriott (MAR), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Snap (SNAP), Super Micro Computer (SMCI), Toast (TOST) Wednesday: Airbnb (ABNB), Disney (DIS), DraftKings (DKNG), Dutch Bros (BROS), e.l.f. (ELF), Joby Aviation (JOBY), Lyft (LYFT), McDonald's (MCD), Novavax (NVAX), Occidental Petroleum (OXY), Shopify (SHOP), Sunrun (RUN), Uber (UBER), Zillow Group (Z) Thursday: Atlassian (TEAM), Block (XYZ), Celsius Holdings (CELH), Crocs (CROX), Eli Lilly (LLY), Hertz (HTZ), Instacart (CART), Intuitive Machines (LUNR), Papa John's (PZZA), Peloton (PTON), Pinterest (PINS), Rocket Lab (RKLB), Texas Roadhouse (TXRH), Sweetgreen (SG), Warner Bros. Discovery (WBD), Wynn (WYNN), Yeti (YETI) Friday: Under Armour (UAA), fuboTV (FUBO) Big Tech quarterly results show greater willingness to spend on AI Recent quarterly results from Amazon (AMZN), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) showed Big Tech is still ready to spend hefty sums on artificial intelligence. As the chart below shows, the four tech firms plan to spend $364 billion cumulatively in their fiscal 2025 years. Yahoo Finance's Laura Bratton breaks down Big Tech's AI spending spree: Read more here. Recent quarterly results from Amazon (AMZN), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) showed Big Tech is still ready to spend hefty sums on artificial intelligence. As the chart below shows, the four tech firms plan to spend $364 billion cumulatively in their fiscal 2025 years. Yahoo Finance's Laura Bratton breaks down Big Tech's AI spending spree: Read more here. Colgate-Palmolive beats quarterly estimates on steady demand for essentials Colgate-Palmolive (CL) stock rose on Friday after the Softsoap maker beat first quarter sales and profit estimates. Despite rising prices and tariffs, consumers continued to purchase essential personal care products, the company said. Colgate reported adjusted profit of $0.92 per share, above analysts' estimates of 90 cents per share, according to data compiled by LSEG. Quarterly net sales reached $5.11 billion, beating estimates of $5.03 billion. Reuters reports: Read more here. Colgate-Palmolive (CL) stock rose on Friday after the Softsoap maker beat first quarter sales and profit estimates. Despite rising prices and tariffs, consumers continued to purchase essential personal care products, the company said. Colgate reported adjusted profit of $0.92 per share, above analysts' estimates of 90 cents per share, according to data compiled by LSEG. Quarterly net sales reached $5.11 billion, beating estimates of $5.03 billion. Reuters reports: Read more here. Regeneron beats second-quarter results estimates on Dupixent sales boost Regeneron Pharmaceuticals (REGN) stock rose more than 5% before the bell on Friday after beating Wall Street estimates for its second-quarter revenue and profit. The pharmaceuticals company was helped by robust demand for its blockbuster eczema product, Dupixent. Reuters reports: Read more here. Regeneron Pharmaceuticals (REGN) stock rose more than 5% before the bell on Friday after beating Wall Street estimates for its second-quarter revenue and profit. The pharmaceuticals company was helped by robust demand for its blockbuster eczema product, Dupixent. Reuters reports: Read more here. Moderna beats Q2 estimates, announces cost cuts and layoffs Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion. The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data. Reuters reports: Read more here. Moderna (MRNA) stock fell 5% in premarket trading on Friday after the company lowered its 2025 sales forecast on the top end to $1.5 billion to $2.2 billion. The vaccine maker's quarterly results were better than feared, however. Moderna's adjusted loss of $2.13 per share was smaller than the $2.97 a share loss expected. Revenue of $142 million dropped 41% year over year but also came in ahead of estimates of $112.9 million, per LSEG data. Reuters reports: Read more here. Chevron beats Wall Street profit estimates with record production Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Chevron (CVX) beat analyst estimates on Friday for second-quarter profit as record oil and gas production and lower capital expenditure helped the US oil producer boost earnings despite weaker crude prices. Chevron shares were flat in premarket trading. Reuters reports: Read more here. Exxon beats profit estimates with higher production despite weak oil prices Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices. Reuters reports: Read more here. Shares in Exxon Mobil (XOM) rose more than 1% before the bell on Friday after the company beat Wall Street estimate for second-quarter profit as higher oil and gas production helped the top US oil producer overcome lower crude prices. Reuters reports: Read more here. Amazon tosses a bone to the Fed chair Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript. Interesting call out by Amazon CEO Andy Jassy: I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless. Fed Chair Jerome Powell should read the Amazon (AMZN) earnings call transcript. Interesting call out by Amazon CEO Andy Jassy: I don't necessarily agree here, as many CEOs have told me they are hiking prices because of tariffs. But it's a good talking point from Jassy nonetheless. How to think about Apple's quarter... We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly. The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL). Overall, I like how the Evercore ISI summed things up this evening: "Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal." We knew the tariff hit was coming on Apple (AAPL). It came, and it was ugly. The earnings call wasn't that eventful, mostly Tim Cook trying to soothe concerns that Apple will be a player in AI. I did like Apple was another tech player calling out an acceleration in their cloud business (similar to Microsoft (MSFT) and Alphabet (GOOGL). Overall, I like how the Evercore ISI summed things up this evening: "Apple delivered a better than expected quarter and the services growth and commentary around limited impact from the Epic ruling will chip away at part of the services bear case. Stock likely remains relatively range bound as we await the more impactful ruling on the Google revenue sharing deal." Apple 'significantly growing' AI investments, sees $1.1 billion tariff hit in current quarter Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit: Listen to the earnings call live here. Apple (AAPL) executives offered some color on the iPhone maker's quarterly results Thursday and the outlook ahead amid tariffs and the impact of Google's antitrust lawsuit: Listen to the earnings call live here. First Solar raises annual sales outlook, expects higher prices due to tariffs Reuters reports: Read more here. Reuters reports: Read more here. Strategy results show company buoyed by bitcoin in Q2 Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD). For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million. For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80. As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%. "Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60." Strategy (MSTR) stock rose less than 1% after the company soared past estimates, lifted by a Q2 rally in bitcoin (BTC-USD). For the second quarter, the Michael Saylor-led firm reported cash and cash equivalents of $50.1 million, below Bloomberg consensus estimates for $1.11 billion. Diluted earnings per share were $32.60, versus estimates for a $0.03 per share loss, per S&P Global Market Intelligence. Revenue came in at $114 million. For the full year, Strategy expects operating income of $34 billion, net income of $24 billion, and diluted earnings per share of $80. As the largest corporate holder of bitcoin, crypto investors looked to the software maker's results as a bellwether for the crypto market. As of June 30, the company held approximately 597,325 bitcoins and achieved a year-to-date bitcoin yield of 25%. "Strategy has achieved a year-to-date BTC Yield of 25%, meeting our full year target well ahead of our initial timeline," the company said. "As a result, our BTC $ Gain now exceeds $13 billion, and the increase in the price of bitcoin in the second quarter drove second quarter operating income of $14 billion and Q2 diluted EPS of $32.60." Apple reports earnings, revenue ahead of forecasts Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments. Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion. Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter. Apple stock was up about 2% following the results. Apple reported results Thursday that beat forecasts on the top and bottom lines as the iPhone maker boasted about double-digit revenue growth across its iPhone, Mac, and Services businesses, as well as growth in all of its geographic segments. Earnings per share came in at $1.57, ahead of the $1.43 Wall Street had expected, while revenue tallied $94 billion, up 10% from last year and ahead of forecasts for $89.2 billion. Its Services revenue totaled $27.4 billion, a new record, and comprised nearly 30% of its total revenues in the quarter. Apple stock was up about 2% following the results. Roku reports surprise profit in Q2, revenue beats expectations Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday. The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG. Reuters reports: Read more here. Roku's (ROKU) second quarter results got a boost from an expanding user base and advertising sales, the company reported Thursday. The company reported profits of $0.07 per share, above the $0.17 per share loss analysts expected. Revenue came in at $1.11 billion for the quarter, compared to the analysts' average estimate of $1.07 billion, according to data compiled by LSEG. Reuters reports: Read more here. Coinbase stock falls 7% after results disappoint Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts. Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago. In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million. Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year. Crypto giant Coinbase (COIN), a recent addition to the S&P 500, saw shares fall more than 7% in after-hours trading on Thursday after the company posted second quarter results that came in below Wall Street forecasts. Coinbase reported second quarter revenue of $1.5 billion, below the $1.59 billion analysts had forecast, while trading volume and transactions revenue both fell shy of expectations. Subscriptions and services revenue in the second quarter totaled $656 million. Adjusted EBITDA in the second quarter totaled $514 million, down from $596 million a year ago. In the third quarter, the company expects subscriptions and services revenue to fall within a range of $665 million-$745 million. Since the April 9 bottom in the stock market, Coinbase shares have roughly doubled; ahead of Thursday's results, the stock was up more than 50% this year. Reddit stock soars as company posts fastest quarterly revenue growth in 3 years Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years. Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected. Yahoo Finance's Laura Bratton reports: Read more here. Reddit (RDDT) stock jumped as much as 13% after hours after the social media company reported its fastest revenue growth in three years. Profits reached $0.48 per share in the second quarter, above the $0.19 per share projected by Wall Street analysts. Revenue grew 78% to $500 million, higher than the $425 million expected. Yahoo Finance's Laura Bratton reports: Read more here. Amazon posts earnings beat but stock slips Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported: AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year. The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025. Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs. The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours. Read more here. Amazon (AMZN) profits and sales beat estimates for the second quarter, the company reported: AWS revenue rose 17% to hit $30.8 billion versus an expected $30.7 billion. It topped $26.2 billion in Q2 last year. The company's report follows Google's (GOOG, GOOGL) and Microsoft's (MSFT) own blowout announcements, highlighting growth across their respective cloud businesses on the back of increased customer spending on AI. Rival Microsoft reported that its Azure business generated $75 billion in fiscal 2025. Amazon widened its guidance for operating income on the lower end. For the third quarter, Amazon expects the operating income to come in between $15.5 billion and $20 billion, potentially indicating a headwind from tariffs. The initial reaction on the Street was downbeat, with Amazon stock slipping 2% after hours. Read more here. Apple Q3 earnings to give Wall Street better view of tariff impact Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell: Read more here. Yahoo Finance's Daniel Howley previews what to watch when Apple reports earnings after the bell: Read more here. Reddit set to report Q2 earnings as Wall Street scrutinizes daily active user growth Reddit (RDDT) will report second quarter results after the bell on Thursday. One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users. Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit: Read more here. Reddit (RDDT) will report second quarter results after the bell on Thursday. One key metric to watch will be daily active users, which disappointed Wall Street over the last two quarters. Changes to Google Search's algorithm could further disrupt the platform's users. Yahoo Finance's Laura Bratton breaks down what the Street is hoping to hear from Reddit: Read more here. Unilever's personal care business delivers solid results, but ice cream was the standout Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year. The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand. Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company. Reuters reports: Read more here. Unilever (UL) beat sales growth forecasts in the second quarter but reported a 50% drop in free cash flow year over year. The ice cream business outperformed in Q2, with sales rising 7.1%, led by double-digit growth in its Magnum brand. Unilever's ice cream business is on track to be spun off in November. The new company will be called The Magnum Ice Cream Company, and Unilever will retain a 20% stake in the company. Reuters reports: Read more here. Sign in to access your portfolio