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Keyword: bonds

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  • What's so hard about extending tolls? (West Virginia)

    04/26/2017 1:13:08 PM PDT · by Tolerance Sucks Rocks · 20 replies
    The Beckley Register-Herald ^ | April 23, 2017 | Editorial Board
    Why on God’s green Earth has the state legislature dawdled on the question of whether or not to extend tolling on the West Virginia Turnpike? Seriously. We have looked all around the issue for the past few years and have not found a single, solitary good reason the $2 fee shouldn’t be continued once the bonds are paid off in May 2019. Under current state law, toll collections will cease, the Parkways Authority will disband and the commissioner of Highways will assume oversight of the Turnpike the year after next if legislators fail to amend current legislation. Forget – in...
  • State Should Add Interstate Tolls

    04/26/2017 7:18:45 AM PDT · by Tolerance Sucks Rocks · 30 replies
    Urban Milwaukee ^ | April 24, 2017 | Robert W. Poole, Jr.
    Wisconsins highways are seriously underfunded. According to the Wisconsin Department of Transportations Transportation Fund Solvency report, spending only the $28 billion projected to be available over the next decade will lead to double the number of highway miles in poor condition and will preclude even planning any highway expansions for nearly 40 years. Borrowing enough to spend $31 billion would slightly reduce the amount of poor highway miles but still would preclude planning any highway expansions until 2040. But a second WisDOT report offers a way out. Extensive research done last year for the DOT by the consulting firm...
  • Road to fewer highway tolls in Maine is full of curves

    04/17/2017 12:58:19 PM PDT · by Tolerance Sucks Rocks · 11 replies
    The Portland Press Herald ^ | March 24, 2017 | Peter McGuire
    The idea of doing away with the Maine Turnpike Authority and eliminating tolls has a long and unsuccessful history through both Democratic and Republican administrations.Gov. Paul LePage revived the concept at a town hall meeting in Gorham on Wednesday night, saying he would like to see the turnpike authority merged with the Maine Department of Transportation and the elimination of almost all tollbooths, having one only in Kittery to collect tolls from out-of-state drivers. “The only toll we should have is for the visitors coming in and out of the state in the summer months,” LePage said, adding that Mainers...
  • United States: The Plan For The Future Of American Infrastructure

    02/17/2017 4:55:24 AM PST · by Tolerance Sucks Rocks · 2 replies
    Mondaq ^ | February 13, 2017 | Richard P. Puttr, Eric W. Sedlak, Kevin J. McIntyre, Isel M. Perez and James F. Channing
    A Look Into the Opaque Crystal Ball for Infrastructure Initiatives in the First 100 Days of the Trump Administration President Donald J. Trump's "America's Infrastructure First" plan is one of the Trump Administration's priorities during his first 100 days in office. Throughout the campaign, President Trump heralded his plan to build and restore highways, tunnels, airports, bridges, and water systems across America and promised a $1 trillion investment in the infrastructure sector over a 10-year period. Leaders from both parties acknowledge the nation's deteriorating infrastructure, and there have been expressions of support from both sides of the aisle for some...
  • The Coming Dollar Shortage

    12/28/2016 2:09:58 PM PST · by BDParrish · 25 replies
    Daily Trade Alert ^ | December 24, 2016 | Jm Rickards
    In my forthcoming book The Road to Ruin: The Global Elites Secret Plan for the Next Financial Crisis, I make a very simple point: In 1998 we were hours away from collapse and did everything wrong following that. In 2008, we were hours away from collapse and did the same thing. Each crisis is bigger than the one before. The stock market today is not very far from where it was in November 2014. The stock market has had big ups and downs. There was a big crash in August 2015, followed by a big crash in January 2016. Followed...
  • Larsons tunnels: Big plan, even bigger challenge

    11/27/2016 8:28:10 PM PST · by Tolerance Sucks Rocks · 51 replies
    The Connecticut Mirror ^ | November 15, 2016 | Tom Condon
    Not everyone is thrilled with U.S. Rep. John Larson’s proposal to build massive highway tunnels under Hartford, but Daniel Burnham might be, were he still with us. It was Burnham, the great Chicago architect and planner, who said, “Make no little plans. They have no magic to stir men’s blood and probably will not themselves be realized.”Larson’s is anything but a little plan; it is breathtaking in scope. It has stirred the blood of some public officials and business leaders. But the concept is so vast, complex and potentially expensive – it would be longer than Boston’s “Big Dig” tunnels...
  • How Trump Might Try to Fix Bridges and Highways: QuickTake Q&A

    11/24/2016 7:44:35 AM PST · by Tolerance Sucks Rocks · 9 replies
    Bloomberg ^ | November 14, 2016 | Laurence Arnold and Sho Chandra
    Link only - Bloomberg
  • Trump trade sparks stampede out of bond funds into stocks

    11/23/2016 7:16:45 AM PST · by Ernest_at_the_Beach · 9 replies
    Marketwatch ^ | Nov 18, 2016 1:07 p.m. ET | Anora Mahmudova
    Weekly bond outflows were biggest since June 2013 The rotation out of bonds into stock postelection is greatest in years The so-called Trump trade that followed the Nov. 8 election victory of Donald Trump sparked the largest outflow from bond funds since the taper tantrum of June 2013, with investors piling into stocks, according to flow data compiled by Bank of America Merrill Lynch.In the week ended Nov. 16, investors withdrew $9.06 billion from bonds funds. The money withdrawn from bond funds as well as some of the cash sitting on the sidelines, found its way to equity funds and...
  • Whos Going to Pay for Trumps Huge Infrastructure Plans?

    11/20/2016 10:02:22 PM PST · by Tolerance Sucks Rocks · 81 replies
    The Fiscal Times ^ | November 14, 2016 | Mark Joffe
    A rare point of agreement between President-Elect Trump and Congressional Democrats is that America has an infrastructure deficit: The nations transportation, power, water and sewerage facilities are too often outdated and unable to reliably serve a growing population. But while the diagnosis crosses party lines, solutions are more controversial. Democrats may not be too worried about the recent increase in federal deficits, but Republicans who have made an issue of the national debt will be reluctant to produce more red ink. Likewise, tax increases to pay for new federal construction spending are off the table under Trump and a Republican-controlled...
  • Trump promises big on highway funding, could open door to more tolls and privatization

    11/19/2016 11:54:49 PM PST · by Tolerance Sucks Rocks · 33 replies
    Overdrive ^ | November 14, 2016 | James Jaillet
    President-elect Donald Trump said throughout his campaign for the White House that he wants major investments in U.S. infrastructure, calling for $1 trillion on infrastructure projects during his presidency.He reiterated the point in his victory speech last Wednesday. “We’re going to fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals,” Mr. Trump said. “We’re going to rebuild our infrastructure, which will become, by the way, second to none.”However, major infrastructure bills are challenging pieces of legislation to pass, especially since Congress changed little in the election, says Todd Spencer, executive vice president of the Owner-Operator Independent...
  • Are Texans paying twice for toll roads?

    11/10/2016 8:07:35 PM PST · by Tolerance Sucks Rocks · 13 replies
    Click 2 Houston ^ | November 7-9, 2016 | Joel Eisenbaum
    HARRIS COUNTY, Texas - The Harris County Toll Road Authority collected about $760 million in tolls the last fiscal year, yet it is improbable that any Harris County toll road will ever be “paid off,” Channel 2 Investigates has learned.   “Not with system financing, which allows us to borrow money at a favorable rate to build new projects,” said Patti Evans, the authority’s assistant director of communications.In other words, tolls collected today are not only used to pay down system-wide debt, but to construct more toll roads in the future.    “I think it is important to say —...
  • IL Tollway announces $951M infrastructure program for 2017

    11/04/2016 6:43:53 AM PDT · by Tolerance Sucks Rocks · 12 replies
    Construction DIVE ^ | October 31, 2016 | Kim Slowey
    Dive Brief: The Illinois Tollway announced Thursday that it had set a preliminary budget for 2017 that includes $951 million for Move Illinois projects, as well as $336 million for a maintenance and operation program, according to Equipment World.Major Move Illinois capital initiatives planned for next year include the Illinois Route 390 Tollway ($374.5 million), SmartRoad upgrades to I-90 ($163.5 million), reconstruction of I-294 ($56.5 million) and expansion and maintenance of the I-PASS system. The remaining funds will go toward development, repair and maintenance.Move Illinois is a 15-year, $12-billion capital project program financed by bonds and tolls. The Illinois Tollway,...
  • I-69 construction woes lead to another bond downgrade

    10/11/2016 1:03:45 AM PDT · by Tolerance Sucks Rocks · 15 replies
    Indiana Business Journal ^ | September 20, 2016 | Susan Orr
    Continuing delays on the construction of Interstate 69 between Bloomington and Martinsville have led to another ratings downgrade on the bonds issued to help finance the project. Standard & Poor’s has lowered its rating from BB+ to BB- on $244 million in bonds issued by the Indiana Finance Authority in 2014 for the interstate project. “The rating action reflects our view of increased construction risk at the project, which is eight months behind schedule and about 56 percent complete,” S&P Global Ratings credit analyst Tony Bettinelli said in the ratings agency’s statement on the downgrade last week. The 21-mile project,...
  • Gross: Low Rates Pushing Investors to Gold, Bitcoin

    10/05/2016 7:43:54 AM PDT · by oblomov · 7 replies
    Barron's ^ | 4 Oct 2016 | Bill Gross
    My country club locker room is a fascinating 19th hole observatory where human nature and intelligence often come into conflict. Almost all of my golfing buddies are risk takers by nature and many of them are gamblers not just in the card room but also in the casinos in Las Vegas. Having spent some time in Sin City myself in my early 20s as one of the first blackjack counters, I was, and still am, most familiar with odds and the impossibility of beating the House in any game other than blackjack over a long period of time. Still,...
  • State Department Admits It Lost Clinton Foundation Email

    10/02/2016 12:40:35 AM PDT · by detective · 28 replies
    Breitbart ^ | 1 Oct 2016 | John Hayward
    The State Department has admitted it lost a 2012 email between Hillary Clinton aide Jake Sullivan and a Clinton Foundation employee, which may demonstrate a financial conflict of interest for the former secretary of state. The Washington Examiner describes the message as follows: The email contained an attachment memo about Greek bonds a significant detail given the heavy investments Clintons son-in-law, Marc Mezvinsky, was making in the Greek economic recovery during that same period.
  • Pa. Turnpike wedded to toll hikes, mired in debt

    08/20/2016 8:06:18 PM PDT · by Tolerance Sucks Rocks · 35 replies
    The Lehigh Valley Express-Times ^ | July 31, 2016 | Express-Times Letter to the Editor
    Is it possible that a toll road could price itself right out of its market? That's essentially what the Pennsylvania Turnpike is prescribing for itself. Last week the Turnpike Commission informed us that tolls will go up a ninth consecutive year in 2017 and stay on a steadily upward trajectory until 2044. And of course, there's no guarantee after that. By then, we can only hope, the turnpike will have morphed into a giant solar-powered car-train for self-driving cars, of course. "Unsustainable" is an overused word these days, but it applies to the toll road's future. The turnpike...
  • Worlds Biggest Pension Fund Loses $51 Billion in Stock Rout

    07/30/2016 6:26:17 AM PDT · by CorporateStepsister · 13 replies
    Bloomberg ^ | July 30 2016 | Yuko Takeo and Shigeki Nozawa
    Japans $1.3 trillion Government Pension Investment Fund lost 3.8 percent in the year ended March 31, or 5.3 trillion yen ($51 billion), the retirement manager said Friday in Tokyo. Thats the biggest drop since the fiscal year ended March 31, 2009. GPIF lost 10.8 percent on domestic equities and 9.6 percent on shares in other markets, while Japanese bonds handed the fund a 4.1 percent gain.
  • Germany Is About To Sell Zero-Coupon 10 Year Bonds For The First Time Ever

    07/13/2016 5:20:11 AM PDT · by Leaning Right · 27 replies
    Zero Hedge ^ | July 13, 2016 | Tyler Durden
    *snip* According to Bloomberg, on Wednesday morning Germany will sell 10-year bonds with a zero coupon for the first time, as a rally in fixed-income securities pushes investors to forgo annual interest payments in order to hold the safest assets.
  • Highway project delays rack up $700 million cost overruns

    06/24/2016 9:54:35 AM PDT · by Tolerance Sucks Rocks · 20 replies
    The Milwaukee Journal Sentinel ^ | June 13, 2016 | Catie Edmondson
    Madison Faced with delays and inflation over the past five years, four major state highway projects including a Madison artery have accumulated overruns in excess of $700 million. While some of these increases come from faulty cost estimates or unavoidable inflation, the new figures underline the obvious: Delays can be costly for Wisconsin taxpayers. When projects are paused because of financial challenges in the state's road fund, the price of materials, labor and real estate can rise. The numbers compiled by the Milwaukee Journal Sentinel underline the urgency of a divisive issue for Wisconsin's Republican leaders: finding a...
  • 2001 California Electricity Bonds

    06/07/2016 12:32:50 PM PDT · by sheana · 27 replies
    Vanity, need help with research ^ | June 7, 2016 | Sheana
    In 2001 Governor Gray Davis signed SBX1 6 which authorized the sale of $5 billion in bonds to purchase electricity for California. I believe these were 15 year bonds. As a result our electricity rates were tiered and prices went way up. At the time I contacted PG&E and asked them what they were doing with the extra monies. The answer.....we send it to the state to pay back the bonds. The 15 years is now up and our rates are the same. Nothing has changed. I've contacted news people and asked them to look into it...silence. I called the...