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California’s high-speed rail leaders sound alarm over project’s financial future
Los Angeles Times ^ | May 1, 2025 3:26 PM PT | Colleen Shalby

Posted on 05/01/2025 7:30:42 PM PDT by E. Pluribus Unum

As California’s High-Speed Rail Authority awaits word from the Trump administration over its future support for the train, leaders who oversee the project sounded the alarm about its financial viability.

The authority’s board of directors voted Thursday to approve contracts for the development of Central Valley station designs and to solicit and approve construction bids for the Fresno station. Ahead of the votes, board member James Ghielmetti raised concerns over the potential loss of funds from the Department of Transportation and the risk of moving forward on payment commitments when federal funding is in jeopardy.

“I’m very nervous about receiving the federal funding,” Ghielmetti said. “I want to make sure my fellow board members are aware that if the federal money does not come through, somebody’s got to backstop these contracts.”

Authority staff said that contracts include termination clauses if there isn’t enough money and that contingency funds existed to make up a shortfall if funding fell through. Ghielmetti argued that the termination of any contract would only move the project further off course and stressed that if the goal is to get back on schedule, those funds need to exist.

The board consists of nine members, each serving a four-year term, tasked with approving policies related to the project’s businesses, finances and strategies. Board member Martha Escutia echoed Ghielmetti’s concerns and said that a financial plan needs to be cemented as the board continues to vote on how money will be spent.

“We are obviously in trouble,” she said.

The Department of Transportation initiated a compliance review of the project in February following...

(Excerpt) Read more at latimes.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News; Government; Politics/Elections
KEYWORDS: alarmoverfinances; colleenshalby; corruption; debacle; moneylaundering; moneypit; obviouslyintrouble; thankscaptobvious
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1 posted on 05/01/2025 7:30:42 PM PDT by E. Pluribus Unum
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To: E. Pluribus Unum

There is only one correct answer to this boondoggle:

No.

Good article on this today:

https://www.zerohedge.com/political/california-bullet-train-good-lesson-political-deception


2 posted on 05/01/2025 7:32:30 PM PDT by cgbg (It was not us. It was them--all along.)
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To: E. Pluribus Unum

“We are obviously in trouble,”

People are getting wealthy off this lady, just looks like you are one of them.


3 posted on 05/01/2025 7:36:06 PM PDT by BenLurkin (The above is not a statement of fact. It is opinion or satire. Or both.)
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To: E. Pluribus Unum

They should crap in one hand...


4 posted on 05/01/2025 7:42:21 PM PDT by HYPOCRACY (Long live The Great MAGA Kangz!)
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To: E. Pluribus Unum

U.S. Secretary of Transportation Duffy predicted this 6 weeks ago in CA and got booed and had tomatoes thrown at him.

CA is the cereal state.

5.56mm


5 posted on 05/01/2025 7:43:48 PM PDT by M Kehoe (Democrats: Not self aware, hypocrites, lacking morals who believe history begins when they wake up)
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To: E. Pluribus Unum

It was widely discussed at the time this huge boondoggle was proposed how senator Feinstein and Pelousi stood to profit from it.
These matters warrant investigation imho.


6 posted on 05/01/2025 7:45:09 PM PDT by faithhopecharity ("Politicians aren't born, they're excreted." Marcus Tullius Cicero (106 to 43 BCE))
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To: E. Pluribus Unum

The billions and billions have already been distributed to politicians and their friends’ bank accounts far and wide.

Time to rob the American taxpayers again...


7 posted on 05/01/2025 7:48:43 PM PDT by SuperLuminal (Where is rabble-rising Sam Adams now that we need him? Is his name Trump, now?)
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To: E. Pluribus Unum

For historical context the Central Pacific and Union Pacific built the transcontinental railroad in six years covering a bit more than 1900 miles. Trains were running and generating revenue the day after the golden spikes were driven at Promontory Point.

It’s been 10 years since construction of the first 120-mile section of California’s high-speed has begun with zero miles of track laid.


8 posted on 05/01/2025 7:53:32 PM PDT by hanamizu ( )
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To: E. Pluribus Unum

For comparison, the first transcontinental railroad, connecting Omaha, Nebraska, to Sacramento, California, took about six years to build, from 1863 to 1869. Construction began in 1863, with the Central Pacific Railroad starting from Sacramento and the Union Pacific Railroad from Omaha. The two lines met at Promontory Summit, Utah, on May 10, 1869, completing the 1,912-mile route. Delays from terrain, weather, labor shortages, and funding issues extended the timeline, but the project was a massive engineering feat for its time.

That was accomplished with zero computers, no aerial survey mapping, no gasoline or diesel powered equipment, all hand drafting, and no dynamite.

The Central Pacific, starting from Sacramento, built 15 tunnels to cross the Sierra Nevada, as the rugged terrain necessitated extensive tunneling to maintain a workable grade. These 15 tunnels, concentrated between Cisco and Truckee, California, were a major engineering challenge, with the longest being the Summit Tunnel (Tunnel No. 6) at 1,659 feet. The tunnels were primarily hand-chiseled by Chinese laborers using black powder and nitroglycerin, a process that was slow and dangerous, averaging about one foot of progress per day.

What is happening today on Cal HS Rail is just pitiful. It is perfectly emblematic of Democrat single-party governance, corruption, unions, and gross incompetence.


9 posted on 05/01/2025 7:53:46 PM PDT by ProtectOurFreedom (“Diversity is our Strength” just doesn’t carry the same message as “Death from Above”)
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To: cgbg
Rail CEO says project could take roughly 20 years to complete if private sector can be utilized.

California years are like dog years. This means 140 years.

10 posted on 05/01/2025 7:54:36 PM PDT by Right_Wing_Madman
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To: E. Pluribus Unum

Sounds to me like they are spending money that they do not have.


11 posted on 05/01/2025 7:57:17 PM PDT by Repeal The 17th (Get out of the matrix and get a real life.)
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To: E. Pluribus Unum

California’s high-speed rail grifters sound the alarm...


12 posted on 05/01/2025 7:58:05 PM PDT by kiryandil (No one in AZ that voted for Trump voted for Gallego )
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To: faithhopecharity

FEINSTEIN’S HUBBY GOT THE CONTRACT..RICHARD BLUM


13 posted on 05/01/2025 7:58:48 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: hanamizu

NOW—THEY NEED ANOTHER 20 YEARS????

THIS IS OUTRAGEOUS.


14 posted on 05/01/2025 7:59:51 PM PDT by ridesthemiles (not giving up on TRUMP---EVER)
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To: E. Pluribus Unum

From what I understand, there hasn’t been any track put down even to this day.


15 posted on 05/01/2025 8:10:51 PM PDT by wjcsux (On 3/14/1883 Karl Marx gave humanity his best gift, he died. )
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To: wjcsux

That’s what the article says.


16 posted on 05/01/2025 8:15:20 PM PDT by E. Pluribus Unum (Democrats are the Party of anger, hate and violence.)
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To: E. Pluribus Unum

POOR grifting crooks in California. Can’t get everyone else to pay for yountrillion dollar boondoggle. I would love to see the forcensoc accounting with all the money wasted on that project.


17 posted on 05/01/2025 8:16:59 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eye)
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To: E. Pluribus Unum

POOR grifting crooks in California. Can’t get everyone else to pay for yountrillion dollar boondoggle. I would love to see the forcensoc accounting with all the money wasted on that project.


18 posted on 05/01/2025 8:17:07 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eye)
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To: hanamizu; Kaslin; BenLurkin; Lazamataz; Liz; SunkenCiv; Red Badger; governsleastgovernsbest

No. It is worse than that.

Even BEFORE the Transcontinental Railroad was complete, EACH SIDE (Union Pacific and Central Pacific) was carrying so much paying freight and paying passengers to the towns further back down the tracks from back east and San Francisco) that the Operations Divisions of each railroad got in screaming fights with the construction companies and schedulers about who got priority!

Paying freight to a town in the middle that was already connected? Or rails and ties and nails and lumber to build the new railroad out a little bit further to the next town waiting to get connected?

In Pelosi’s and Feinstein’s California, they have spent billions buying land from each other, and grading right-of-way but no bridges, but have not connected ANY CITIES yet with rails.


19 posted on 05/01/2025 8:17:57 PM PDT by Robert A Cook PE (Method, motive, and opportunity: No morals, shear madness and hatred by those who cheat.)
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To: E. Pluribus Unum

We’re on the road to nowhere.


20 posted on 05/01/2025 8:23:38 PM PDT by Huskrrrr (Alinsky, you magnificent Bastard, I read your book!)
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