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February 13, 2008

Tolls : A week of fun

  • Carona comes out in favor of raising the gas tax. He still won't commit to ending toll deals which is a real concern. The reality is that tolling isn't a good way to raise money. Period. It's not good for taxpayers and it's certainly not good for invesotrs.

  • Speaking of investors, they're taking a bath on the Central Texas toll roads...

    According to that statement, the three roads will make $8.7 billion in toll revenue through 2042. In that same time, there will be $7.2 billion in debt payments for that borrowed $2.2 billion, $1.1 billion in operations costs, $752 million in routine maintenance and $388 million for long-term maintenance. The net of all that? Almost $750 million in the hole over 35 years.

    More like an economic jalopy.

    Yeah, the traffic projections aren't panning out either. Traffic is about 73% of the projections. Didn't see that one coming

  • TURF's suit moves ahead with depositions due this week from TTC Commissioners Saenz and Houghton. Good luck, TURF!

    • In other privatization news, the Camino Columbia toll road (the first private 'superhighway' in Texas) was sold... to one of it's original investors. The road was built for $90million and sold for $12million. What a great investment! If you're looking for other great investments with a similar return, you might try Bear Stearns. I hear they are trying to unload some SIV's chock full of subprime paper.

    Posted by mcblogger at February 13, 2008 06:30 PM

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