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DEBATE * USA - Privatization Toll Roads
* Pass GO, collect billion$ - Big spenders battle for public assets in high stakes game
Grain Valley,MO,USA -Land Line Magazine: March/April 2007, by David Tanner & Sandi Soendker -April 2, 2007: -- ... Even with the administration’s position well-documented, it was still a surprise when U.S. Transportation Secretary Mary Peters announced Jan. 8 that the DOT would assist states with model legislation on how to privatize infrastructure... Who are these mega-corporations that now essentially own the Indiana Toll Road, the Chicago Skyway and Canada’s 407 Express Toll Route? Who are these powerful big spenders now rolling the dice for dozens of other major highways? Pay attention. Here are some of the top players:
* Macquarie Bank –
* Cintra Concesiones de Infrastructuras de Transporte, S.A. –
* Transurban Group –
* Abertis –
* SNC Lavalin –
* (And) Others ready to take their turn – You may not know their names yet, but there are more players ready to enter this lucrative game. Some are funded by foreign consortiums and will be controlled by foreign management... Some of them are on the long list of companies that filed proposals in Pennsylvania, and are among the stream of bidders for privatized toll roads in Texas. It’s clear that companies like Credit Suisse, Iridium of Spain, OHL Concesiones of Mexico, Deutsche Bank, Arcadis of the Netherlands, Skanska of Sweden, and Grupo Ferrovial – which owns Cintra of Spain – are ready to play... Sounds of rattling dice are already emanating from outfits like Morgan Stanley, ING Group, Bear Stearns, J.P. Morgan, KPMG, Wachovia and others. The Carlyle Group is a cagey veteran and must not be discounted as a major grabber upper...
The lawyers and brokers
Where would any of these deals be without the lawyers? The Ice Miller law firm... Mayer, Brown, Rowe & Maw... And don’t overlook Goldman, Sachs & Co...
Anybody challenging these big spenders?
In recent months, the Pennsylvania Turnpike Commission made news, going up to bat against 47 companies that submitted proposals to Gov. Ed Rendell to privatize the state turnpike. Commissioners suggested the state itself should add tolls to Interstate 80 to help fund transportation, rather than leasing or selling the turnpike to private, for-profit businesses... State lawmakers around the nation who are proposing legislation to keep public-private partnerships in check are getting some attention, too...
Opinions abound across the board
Truckers, taxpayers and lawmakers are on the front line, speaking out about these high-stakes deals. Here is a sampling of what they are saying. We also included a view from one of the companies involved in this big-money game, so you can learn a bit about their motivation – profit...
* It’s a private matter - Legislators tackle privatization of public roads, infrastructure
Grain Valley,MO,USA -Land Line Magazine: March/April 2007, by Keith Goblestate -April 2, 2007: -- While more than 20 states already allow for privatization of public roads, lawmakers in two states where the process has been implemented are working either to expand the concept or diminish its appeal... Legislators in another statehouse are waging a battle about whether to allow their state to join in the leasing process... What happens in these battleground states is being watched closely by power brokers throughout the nation – and the world. Some lawmakers see privatization as a way to generate cash for their strapped state budgets. Others say the cash they get now won’t help in the long run...
* Mississippi lawmakers OK use of tolls
Grain Valley,MO,USA -Land Line Magazine -April 2, 2007: -- After a decade’s worth of unsuccessful attempts, the Mississippi Legislature has approved a bill that would create tolls along some roads and bridges in the state and give the state another tool to raise revenue... The bill – SB2375 – would authorize the Mississippi Department of Transportation, county boards of supervisors and city officials to contract with private industry to construct roads and bridges and collect tolls to pay off the work. Local governments also would be allowed to use bonds to finance toll projects...
* Unleash private sector? That dog don’t hunt
Washington,DC,USA -Land Line Magazine: March/April 2007, by Rod Nofziger -April 2, 2007: -- Imagine a day in the not-too-far-off future, let’s say 10 years or so from now. You are planning to run a load along the turnpikes from Philadelphia to Chicago. Now that Pennsylvania, Ohio and Indiana – along with the city of Chicago – have privatized their turnpikes, the trip will cost you upwards of $400 in tolls... Want to duck the tolls? Your options are significantly limited. Most alternative routes are either too congested from traffic diverted off the toll pikes, or not available because local folks got tired of all the big rigs running through town and banned trucks. Some have tolls on them as well... In fact, the interstates you might take to get around turnpike tolls are also up for sale by now – states ran out of money, again. By the way, you will also confront tolls out West where states like Montana and Utah have jumped on the tolling and privatization bandwagons... Before heading down the road, do not forget to factor in the costs from increased fuel taxes, permitting fees and mileage weight taxes that the federal government and states have instituted. They had to do that to fill the holes left in transportation funding after they squandered away taxpayers’ money... Also, be sure to think through every conceivable manner in which you can cut your on-the-road expenses...
* USA - New rates for trucks on Toll Road
Indianapolis,IN,USA -The Indianapolis Star/WSBT-TV/The South Bend Tribune - April 2, 2007: -- Truckers are now paying more to drive the Indiana Toll Road... The new toll rates took effect Sunday for commercial vehicles with more than two axles. Driving the entire 157 miles will cost $10 for three-axle trucks and $17.50 for four-axle vehicles. The hike would not effect standard cars and trucks... Last year, the state leased the toll road to an overseas consortium for 75 years in exchange for nearly $4 billion...
Labels: privatization toll roads
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