Coming to New York City: Umbrella rentals

Watch out Citi Bike, there's a new sharing system in town.

According to The Wall Street Journal, the company 'brellaBox will set up 500 green boxes full of umbrellas throughout the city. Pedestrians will be able to rent an umbrella for $2.50 for 12 hours, or purchase one for $15. The pilot program will roll out this May in Manhattan's Financial District, and if all goes well, the program will be in full effect next spring.

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Kaitlin Roberts is the TheWeek.com's web intern. She has worked for StoryCorps and American Documentary and is a graduate of Davidson College.