European municipalities aren't the only ones trying to pull the plug on expensive -- and often ineffective -- privatization schemes.  Experiencing a bit of sellers' remorse, officials in south suburban Homer Glen are now trying to "take over the business" of controlling its water and sewer system, Mayor Jim Daley tells the SouthtownStar.

Wrestling the utility away from Illinois American Water won't be easy or cheap. A handful of towns are currently trying to figure out how much money they'll need to pool together to begin buying back their local water distribution systems. Estimates, thus far, run in the hundreds of millions of dollars. In the meantime, they hope to pull together a local oversight board that could relax the exorbitant rate hikes they've experienced since privatization.

Will Chicago officials eventually reach a similar conclusion about Mayor Daley's privatization spree?