13th January 2012
Who Pinched My Ride?
“Stolen bicycles have become a solvent in America’s underground economy, a currency in the world of drug addicts and petty thieves. Bikes are portable and easily converted to cash, and they usually vanish without a trace—in some places, only 5 percent are even reported stolen. Stealing one is routinely treated as a misdemeanor, even though, in the age of electronic derailleurs and $5,000 coffee-shop rides, many bike thefts easily surpass the fiscal definition of felony, which varies by state but is typically under the thousand-dollar mark.
