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So Many Divvy Bikes Are In Lake Michigan That There's Now A Group Dedicated To Fishing Them Out
(blockclubchicago.org)
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banner credit: tim gouw
Are the bikes just left parked around the city? Here in Montréal, we have Bixi, with docks for the bikes every few blocks, and bikes have to be returned to a dock when you're done (or you'll get docked for the price of the bike, pun intended) so we don't hear about discarded bikes much.
The program is also a resounding success here!
It's the same general process you as you described. Us Americans are just kind of dicks.