Here's a good article on how bicycle crooks are not just kids but adults.
The article states how adults were stealing a new bike locked to a bike rack. Sound similar? There must be millions of bikes stolen from racks each year and I suspect this is the most common location of theft in the country. The discussion questions on other silly methods regrading bicycle security like cages. How about this one. Don't Use Bike Racks.
The only time I can remember my bike being vandalized by crooks wanting to steal it was when I used a bike rack. In fact, the only time I've witnessed bike theft was on bike racks. Lets fact the facts, bike racks are a bad idea whose time has come and gone. It used to be safe to park your bike to these devices back in 1905 but not in 2005! I can see someone locking their rusted $50.00 Huffy to these racks but the educated cyclist does not park anything of value outside in plain view of other crooks. I do not consider these bike crooks who use racks to be cyclist and that is the problem.
The solution to this problem is very easy. Hide the bike, don't use bike racks and use an industrial lock.