High-Speed Rail Officials Delusional
They don't appear to be able to get crony capitalist companies to pony up to the public trough to suck up the slop.
Oct 19, 2015
We've watched the stumbles of high-speed rail with amusement except for the part that disrupts people's lives. It seems that no matter what happens in the real world, the high-speed officials just keep smiling and telling us everything's A.O.K. Well, they might have hit a wall even they can't crack. They don't appear to be able to get crony capitalist companies to pony up to the public trough to suck up the slop.
We've always doubted HSR's ability to attract private money, but we always thought they would be able to hire contractors to do the work, because working for the government is always a profitable venture. But, maybe not this time.
Private investors are not only suspicious of HSR's financial feasibility, but contractors are doubtful of HSR's ability to pay them for the work they do on the project.
Thirty-six engineering and construction firms have submitted documents to HSR questioning the funding. The documents were obtained by Associated Press under a Public Records Act request. According to the AP, a common theme in the documents was: where's the money? One of the firms, Siemens and Parsons, said "the total funding identified is insufficient."
It's pretty bad when the government can't even hire people to do the work because they are fearful that there isn't money to pay them.
The Rail Authority responded in their typical fashion saying that the 36 responses are a sign that the private sector is very interested. Yes. They're interested in sucking up government money, but even they don't believe the money's there.
Private firms question California high-speed rail funding
Businesses that might bid to build a high-speed rail network across California are questioning whether there will be enough government funding to complete the complex and ambitious project.
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