I am sitting in Rome, New York.
Rome has seen better times. Property taxes here are about twice what I pay in Manchester Township. I am currently ten minutes from The New York State Thruway.
Abertis Infraestructuras SA of Spain and Citigroup Inc. withdrew their $12.8 billion offer to operate the 537-mile (864-kilometer) Pennsylvania Turnpike last week after state lawmakers delayed a decision on legislation needed to allow the transaction to go forward. bloomberg
Maybe Citi is busy now trying to scuttle a deal between Wachovia and Wells-Fargo (AP) who they claim jumped their deal. The deal Citi is trying to stop between Wells-Fargo and Wachovia would save taxpayers from paying billions from the Federal Deposit Insurance Corporation (FDIC) to bail-out another bank.
New York is struggling with the same issues with roads and bridges as Pennsylvania and is looking for new ways of funding. Options include a new push to lease out The New York State Thruway and the Tappan Zee Bridge, golf courses, state parks and the lottery. watertowndailytimes.com
I like the idea of leasing when in the case of the Tappan Zee Bridge that is in need of replacement. In this scenario, a company must front the costs and will reap benefit over time.
In other scenarios, the inefficiency of government (our tax dollars) is transferred into private profit and long term uncertainty at the whim of private control.
The question remains. Can we trust the private sector with running our infrastructure any more than inefficient government. At least with government, I still have a vote.
Leave a comment