Wakey wakey Wall Street Journal - Penn Pike is bigger-$s than Chrysler

The Wall Street Journal gives acres to coverage of the death throes of Detroit. Every day in the past week for example there's been something about the sell-off of Chrysler. That company's worth about $9 billion.

But when the Governor of Pennsylvania, Edward Rendell proposes to sell a concession on the Pennsylvania Turnpike, and top Morgan Stanley analysts formally advise the state that the franchise is worth $12b to $18b - much more than Chrysler, a reader of the Wall Street Journal would be clueless.

Not a word has appeared in that newspaper despite a small army of reporters and a large tribe of editors.

Of course last time the Wall Street Journal had a shot at reporting tollroads they had Gov Mitch Daniels of Indiana privatizing I-85 (which traverses the states of VA, NC, SC, GA, and AL) several months after he'd closed on the $3.85b deal for the Indiana TR (I-80/I-90).

 See our earlier report on this.

Guess this is what comes of reporters and editors living in a city where they worship the choo-choo train and know zilch about what highway is which.

TOLLROADSnews 2007-05-25