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| I’m
fascinated by the relatively new trend in the US of leasing state toll
roads (already in existence and collecting tolls) to be run by private
companies. The other angle of this situation has been going on for a while
now, that is the construction and management of toll roads by private companies.
Either way you cut it there are huge sums of money involved. And it all
boils down to a lack of funds of state and municipal governments to either
build new roads or properly maintain existing ones.
Roadwork is always competing for dollars with schools and healthcare (the largest money black holes), not to mention police, garbage collection, libraries and every other service governments must support through tax and other revenue sources. The largest source of funding for the nation’s roads and transit systems – state and federal gasoline taxes – are unable to keep up with demand for road construction and maintenance and its spiraling cost. Materials and labor for road construction rose 35% from 1998 to 2005, while the consumer price index rose 19.8%. The US Chamber of Commerce predicts the gas tax revenues will fall $1 trillion short of meeting transportation needs by 2015. Guess that poses another long range dilemma in that if we are successful in replacing part of our present oil consumption on the highways with alternative fuels, those fuels are going to have to be taxed at least as much as oil to provide funds for further road construction; a real Catch 22. Privately owned toll highways already operate in Canada, Spain, Australia, New Zealand and other countries, in fact one of the largest private road building and operating companies in the world is an Australian entity. In 1999 a metropolitan Toronto toll road was sold for $2.1 billion, think of all the brake pads and rotors that would buy, mind boggling. Also in 1999 Italy sold its major state-owned toll way agency for $6.7 billion. The Skyway Concession Co., LLC that just leased the Chicago Skyway is jointly owned by the two largest such companies in the world Cintra Concesiones de Ifraestructuras de Transporte SA, of Spain and the Macquarie Infrastructure Group from Australia. The deal gave SCC the management of the Skyway for 99 years for $1.83 billion with controlled toll increases stipulated throughout the lease. According to Macquarie’s numbers the 2005 tolls collected by Chicago were $54 million. I’d love to see the numbers they used in calculating the present value of that $5.3 billion (at today’s toll rates + higher toll rates) plus how they projected their own costs for labor and road maintenance over 99 years to arrive at $1.83 billion today. Numbers fascinate me. Finally for now, Macquarie just this month took over the Indiana Toll Road for the next 75 years for $3.8 billion. Sounds like a lot doesn’t it?? Harvard’s endowment could have bought both the Chicago Skyway and Indiana Toll Road FOUR (4) TIMES and have $5 billion left over - - - and the student band didn’t have enough funds to go to Albany for the NCAA Frozen Four semi-finals both days, but the BC and Michigan State bands did. DON’T let me get started on that soap box. Do you remember The Hollywood Squares?? Q. Do female frogs croak?
Q. If you're going to make a parachute
jump, at least how high should you
Q. True or False, a pea can last as long
as 5,000 years.
Q. According to Cosmopolitan, if you meet
a stranger at a party and you
Q. In bowling, what's a perfect score?
Q. It is considered in bad taste to discuss
two subjects at nudist camps.
Q. It is the most abused and neglected
part of your body, what is it?
Q. Who stays pregnant for a longer period
of time, your wife or your
Q. When a couple have a baby, who is responsible
for its sex?
Q. According to Ann Landers, what are two
things you should never do in bed?
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