The most visible instance of such degradation was the General Motors streetcar scandal: Beginning in the late 1930s, several automobile-related businesses, including GM, Firestone, and Standard Oil, created front companies to purchase and dismantle rail-based transit systems, especially inner city tramways, and replace them with less efficient bus lines. In 1949, the companies would be convicted of a conspiracy to monopolize transportation, but the damage was already done.
via Please Feed The Meters: The Next Parking Revolution | Collectors Weekly.