Lease your infrastructure to foreign interests. The next thing we know is that our ports might be turned over to our arab friends.
Of course we can trusty the government to do only the right things with the taxpayers’ money. Once that is squandered away, then what will sell or lease to get the next big welfare payday?
Rendell is a jackass, as such would make the perfect VP for Obama or Clinton.
What’s next? Are we going to lease out all our 7-11’s to India or Pakistan???
Not much financial info.
I love the logic. Lease your state assets for 75 years, have your citizens pay through the nose with increased tolls - but get the money NOW to pay for your Fast Eddie socialist programs to keep buying votes!
The lease is either too long or too cheap. Of course, there won’t be any traffic on the road since there won’t be any traffic at all anywhere so the management of this management company is already suspect.
Killing the Turnpike Commission AND the raid on I-80 might just be worth it.
We have a Spanish group running the “interstate” system here in Chile. The roads are GREAT but DAMN are they expensive. Watch what you wish for!
Just when you though Fast Eddie couldn’t do something any dumber.....
And HE is on the Dem’s VP short list? I heard Beckel say that Rendell would be his first pick for VP.
Going home to dig the shelter another 10 feet deep.....
With a 25% rise in charges at no additional spending, we are talking an out of the gate profit of almost $400 Million per year.
Divide that into 12.8 Billion you get a payback period of a little more than 30 years - but the lease runs for 75.
Conclusion: this would be very profitable for the company and is just another way Rendell is trying to rip off the taxpayers.
So fast Eddie, how much did you get?
Wow - last time I drove the Pa Turnpike (admittedly a few years ago) it was like driving along a creek bed with 4 flat tires. Between the potholes, cracks and leftover material from previous ineffectual repairs, driving the speed limit in a stiff-suspension vehicle was similar to the old “magic fingers” hotel bed experience. Add in the “convenience” of plaza monopoly food and gas, and you had a complete “why would anyone ever pay to drive on this pig trail” moment. Maybe private ownership is a good thing.
First Kennywood, and now the Turnpike.. guess its time to just start accepting that PA is a Spanish satellite state.