US Bankruptcy Court In Manhattan has signed off on the pre-agreed plan of reorganization under which Alinda Capital Partners cedes its remaining interest in American Roads LLC to its major creditor Syncora. Syncora has suspended its litigation against Alinda alleging fraudulent traffic and revenue studies from a defunct forecaster Maunsell were used to obtain underwriting of debt that went bad.
Reports out of Ankara say the government of Turkey will make another effort at privatizing its tollroads, this time through a public offering of the stock. In February the government cancelled a procurement of a concessionaire when bidders failed to meet a $5.7 billion reserve price.
The public offering is planned for the first quarter of 2014.
CA15 Express, MN394, TxKaty, CA10/110 and any other toll lanes operators with significant bus operations should be looking at electric vehicle recharge on the fly.
President Obama’s denial of knowledge about the various scandals in his administration that are coming to light suggests that his titles should now include Innocent-Bystander-in-Chief.
It has long been my belief that the sight of a good-looking woman lowers a man’s IQ by at least 20 points. A man who doesn’t happen to have 20 points to spare can be in big trouble.
Jonathan Last: "(W)e had it worse in the '70s… when you look back on that period, some of thinking on display suggests that the world had temporarily lost its mind. Examples:
In 1972, the Supreme Court heard the case Sierra Club v. Morton, in which the Sierra Club was attempting to prevent the Forest Service from allowing development of a valley near Sequoia National Park….(Justice) William O. Douglas offered that not only should the Sierra Club have standing, but that legal standing ought to be granted to inanimate objects, too:
For ten years or more people have worked on 5.9GHz developing standards and specifications hoping that the toll biz in North America would make the leap from 915MHz. USDOT spent many millions of dollars in grants supporting the effort on the basis that it would provide the front-end technology for national toll interoperability.
Word from the IBTTA-led committees is that 5.9-gig WAVE isn't even going to be eligible for consideration as one of the approved protocols because it isn't in actual use anywhere for tolling.
Construction starts soon on another tollway in the Houston area, the SH249 Tomball Tollway which will provide connections for northwestern edge communities such as Tomball to the Sam Houston Tollway SH8, the Grand Parkway SH99 and the expressway network of greater Houston. It also improves access for communities further out like College Station where the major campus of Texas A&M University is located.
A temporary fix for the troubled new $6.4b East Span of the San Francisco Oakland Bay Bridge will allow it to be opened September 3. A Toll Bridge Oversight Committee comprising Caltrans, the state's California Transportation Commission and operator Bay Area Toll Authority (BATA) approved the plan this week following general agreement among engineering consultants and federal and state officials.
from James Walker, NMA: Declan O'Scanlon is right. Almost all posted speed limits on main roads should be set at the 85th percentile speed of free flowing traffic under good conditions. This methodology would improve safety and be far more effective than arbitrarily low limits set by politicians who are not trained traffic safety engineers.
On and off over the next week or two I'll be working on a piece on the conception and early years of E-ZPass. I'm told the official repository of the early E-ZPass documentation including minutes of meetings was held by PANYNJ in the World Trade Center building in lower Manhattan and destroyed in the Islamist attacks of Sept 11 2001.