Seeking Alpha

California bullet-train project suffers bond setback

  • California state Judge Michael Kenny has blocked the California High-Speed Rail Authority from issuing over $8B in bonds to help fund the proposed high-speed rail line from San Francisco to Los Angeles.
  • In explaining his action, Kenny said the authority's finance committee hadn't properly disclosed its reasons for authorizing the debt.
  • The decision could cause delays and increase the costs of the $68B project, which has been losing public support.
  • ETFs: MUB, BAB, PZA, MUNI, TFI, ITM, MLN, CMF, BABZ, BABS, XMPT, SHM, SUB, PRB, SMB, CXA, PWZ, SMMU, PVI, VRD, GMMB, RVNU
Comments (3)
  • jsijimmy
    , contributor
    Comments (293) | Send Message
     
    they need to talk to Elon Musk.
    26 Nov 2013, 07:19 AM Reply Like
  • Surfer Steve
    , contributor
    Comments (17) | Send Message
     
    As a California resident, I have yet to meet anyone who is in favor of this massive waste of our money. Nobody is asking for high speed intercity rail service, our air service is fine. We desperately need more urban and suburban transportation projects to relieve freeway congestion, but that's not going to be alleviated by a bullet train to Sacramento and Bakersfield.
    26 Nov 2013, 10:04 AM Reply Like
  • jsijimmy
    , contributor
    Comments (293) | Send Message
     
    We have the same thing in central Florida with Sun Rail - another multi-million dollar boon-doggle. They say it will alleviate traffic on I-4. I say, it will become a tourist pleasure ride through Orange County....
    29 Nov 2013, 11:38 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|