Rick Callahan, writing for the Associated Press, reports that the Indiana Toll Road is in financial trouble and that the Indiana Finance Authority has sent a 90 day letter ITR Concession Co., a subsidiary of Cintra-Macquarie, requiring the company “to show that it can meet its obligations to its lenders in compliance with the company’s lease responsibilities.”
The Toll Road operator is reportedly considering bankruptcy and selling its interest in the toll road to someone else. We are something like 11% of the way through the 75 year lease at this point.
The invisible hand of the market wins again!
So they sell their interest to some other company. What could possibly go wrong?
I personally thought Aaron Renn nailed it:
Of course that genius was accompanied by the judgment to build I-69 with lowered construction standards so it began falling apart less than five months after it was opened (the subsidence near the Patoka River). And, of course, it is still unfinished and the folks in Bloomington will tell you that when I-69 dovetails into 37, that will bring in a whole new raft of traffic problems and congestion. Meanwhile,the lease money is gone, but we have an interstate that was built just in time for the 1970’s traffic.
Read the last paragraph of Renn that I quoted. Pretty much everything done in Indiana could be done better if we only had smarter elected officials.
That, though, shouldn’t be an excuse to do NOTHING, to try NOTHING. Indiana has way too many people happy with the status quo when it isn’t working.
Actually, that was the reason why we voted (oh,the regret!) for Mitch the first time. Nothing was happening, and here was a guy who wanted to do something. We didn’t expect him to do deplorable stuff. We figured the guy would be, like, conservative in his efforts, not Bennett/cheat the schools radical. I think the same thing is being threatened with Raumer in Illinois. There is regret just waiting for them.
Conservative in his efforts? He tried to rid the state of township government.
Not perfect, but he’s probably the last Republican in this state for some time who will ask the party to forget about the social conservative stuff and work on something more important.
Voted for him twice, would vote for him again. Especially over the empty suit who now occupies the office in the delusional belief it’s qualifying him to run the country.
Every time I talk with someone about politics, I hear another bunch of reasons why they dislike Pence. And they are often Republican types. If he wants to be President, I think he had better lower his expectations for the group over which he wants to preside.
I dunno, I had to watch some Fox News yesterday. Teleprompter couldn’t spell “theif” right. I’d say Pence is pretty much hitting the target demographic.
I voted 3rd party in 2012. Couldn’t find a reason to vote for Gregg because the Indiana Democrats aren’t exactly a grand improvement over the Republicans, and no way he was going to beat Pence after his “campaign”. So voting was a total waste.