Briefs

A new work assigns 18th century turnpikes a key role in the industrial revolution in Britain. Stephen Davies a professor of history at Manchester Metropolitan University writes that improvements in transportation were of crucial importance in supporting industrialization, and turnpikes were more important than canals. He writes:

President Eisenhower credited with being the father of the U.S. interstate highway system wanted it tolled. Even after the Congress instituted the special gas tax to finance it, Eisenhower kept coming back to tolls as a way of supplementing the fuel tax revenues. But he faced implacable anti-toll prejudice from bureacrats at the Bureau of Public Roads, the predecessor to the Federal Highway Administration, and there would have been major obstacles in the Congress.

What are US toll collections we often get asked?

I've been hiking in the mountains near here, which generated this bit of semantic trivia. For $3.00 I bought from Maryland's Department of Natural Resources - they run the state parks - a very professionally produced map of the Gambrill State Park in the mountains just west of here. In its prominently displayed "Directions" to the Park the map says: "From U.S. Route 70, exit on to U.S. Route 40 at Frederick..."

TransCore, the leading tollroad systems integrator in the US is going public. It has filed with the Securities and Exchange Commission (SEC) for an initial public offering of stock it calls Enhanced Yield Securities, and 'senior subordinated notes.' It will use the equity to pay down debt. It warns that existing private stockholders may also be selling stock.

Lehman Bros are doing the float. The announcement quaintly says Lehmans "will be the sole book running manager."

IBTTA SPRING TECH WKSHP SOUTH BEACH MIAMI - 7

IBTTA SPRING TECH WKSHP SOUTH BEACH MIAMI - 6

Low point of the IBTTA conference this year was a presentation by a Microsoft representative, John Blevins. It was pitched at such a low intellectual level it was an insult to conference attendees and IBTTA. This was a serious conference with serious people. The contributions generally were meaty, informative, and insightful. Top flight people with good presentations, a few outstanding. They often provided original information, news. From Microsoft's Blevins nothing whatever of any value.

IBTTA SPRING TECH WKSHP SOUTH BEACH MIAMI-4