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2016-02-17 Home Front: Politix

Browndoggle High Speed Rail Costs to Rise

The prospect of higher-than-expected costs for high-speed rail construction in Fresno and Madera counties is prompting the California High-Speed Rail Authority to consider a big change in its allowance for potential cost overruns.

"At this time, we are forecasting a need to increase the contingency by about $150 million" for Construction Package 1, the first 29-mile segment from Fresno to Madera, agency risk manager Jon Tapping told the authority's board members at their meeting Tuesday in Sacramento. That's on top of the original $160 million contingency allowance that was established for the $1 billion contract awarded in 2013 to Tutor Perini/Zachry/Parsons, the prime contractor for the work.
This "train from nowhere to nowhere" is a money pit that will never succeed and violates all ballot promises that got it approved. Jerry Brown is a sleazy dirtbag

Posted by Frank G 2016-02-17 10:51|| || Front Page|| [11133 views ] Top

#1 on the bright side, the failure of this project to achieve cost control and the pitiful ridership they will have after operation begins may actually end or, at least deeply blunt, the high speed rail obsession among many politicos in this country

Posted by lord garth 2016-02-17 11:21|| 2016-02-17 11:21|| Front Page Top

#2 Center for Public Integrity:

Chairman and CEO Ronald Tutor and billionaire investor Richard Blum, who together own investment groups that hold 75 percent of Perini's voting stock, control the company. Blum is the husband of U.S. Sen. Dianne Feinstein.

In addition to Perini, Tutor and Blum conduct a great deal of business through another company called Tutor-Saliba. Among that company's largest projects is the Los Angeles subway system.

Posted by Betty Hitler2611 2016-02-17 11:26|| 2016-02-17 11:26|| Front Page Top

#3 ...au contraire, too many believe in the Magic Money Tree(tm). Only when it all disappears do they sometimes grasp the need for fiduciary responsibilities.

Posted by Procopius2k 2016-02-17 11:26|| 2016-02-17 11:26|| Front Page Top

#4 on the bright side

Politicians don't learn from mistakes (or, rather, people don't)

Posted by g(r)omgoru 2016-02-17 11:26|| 2016-02-17 11:26|| Front Page Top

#5 25% contingency on a capital project that's had this long to be planned is a total travesty*!

*Unless they're including inflation expectations that disagree with those fed figures..

Posted by Bright Pebbles 2016-02-17 11:29|| 2016-02-17 11:29|| Front Page Top

#6 I said long ago this is just a money transfer to California in return for political favors. This project will never pay for itself. If things keep going the way they are going, Mexico will have themselves the best train in the world in a while. :-)

Posted by gorb 2016-02-17 12:25|| 2016-02-17 12:25|| Front Page Top

#7 the initial piece of construction will cost $1B (at least) and not result in any actual high speed operation (that has to wait until many years later)

it will, however, allow for slightly faster Amtrak service saving about 3000 passengers per day about 5 to 10 minutes on their way between Bakersfield and Stockton (most passengers go on to either Sacramento or SF).

at that point it will be difficult for any politicos to defend

Posted by lord garth 2016-02-17 13:44|| 2016-02-17 13:44|| Front Page Top

#8 That only sounds like a good deal if I have an uncle in the CA senate.

Posted by swksvolFF 2016-02-17 15:40|| 2016-02-17 15:40|| Front Page Top

#9 CA's answer to Boston's Big Dig.

Posted by Raj 2016-02-17 17:22|| 2016-02-17 17:22|| Front Page Top

#10 Unexpectedly? I'm surprised no one else said it.

Posted by Elminetle Ebbaling4985 2016-02-17 18:30|| 2016-02-17 18:30|| Front Page Top

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