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alstry (34.92)

Bidding for America...Going Going Gone!!!!!!!!!!!!

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August 25, 2008 – Comments (5)

The Tyrone Town Council got a huge dose of reality Thursday night. “We’re broke,”said Finance Director Mary Sturm. Sturm said the city’s operating costs per month are $275,000 per month, but the town has only collected $53,000 in revenue this month.

http://globaleconomicanalysis.blogspot.com/2008/08/tyrone-georgia-finance-director-were.html

The president of the Jefferson County Commission has softened her opposition to bankruptcy and is instructing lawyers to begin research on the impact a bankruptcy filing would have on the county.

http://globaleconomicanalysis.blogspot.com/2008/08/jefferson-county-alabama-considering.html

DONEGAL, Pa. -- Hobbled by the credit crisis, Wall Street firms and many state governments are hoping that a pockmarked strip of Pennsylvania highway could provide a road out.

Next month, the Pennsylvania legislature is expected to vote on a $12.8 billion deal struck between the governor and a group of private investors to lease America's oldest major toll road, the 537-mile Pennsylvania Turnpike.

If it passes, the deal would be by far the largest ever of its kind in the U.S. Under these arrangements, known as public-private partnerships, investors lease or buy roads, bridges or other infrastructure, operate them independently and collect tolls.

A green light in Pennsylvania could bolster the political will of officials in other states trying to hash out similar deals. That in turn could jump-start projects in waiting, from Florida's Alligator Alley to Chicago's Midway Airport. Last month, New York Gov. David Paterson urged legislators to consider leasing some of his state's roads, bridges and tunnels to help shrink a budget deficit projected at $26.2 billion by 2011.

Proponents say the lease approach could provide financial relief to state governments struggling with foreclosures, ballooning pension obligations and reduced tax bases. That's not to mention crumbling roads -- and lately, a drop in tax revenue to pay for repairs, owing to high gasoline prices that have reduced driving. The U.S. needs about $1.6 trillion in investment over the next several years to bring infrastructure conditions to acceptable levels, according to the American Society of Civil Engineers.

Pennsylvania's needs rank among the highest in the nation; the state's Department of Transportation estimates it will cost $11 billion just to repair the state's bridges. Drivers complain about the turnpike's potholes, insufficient shoulder room, and continual construction.

http://online.wsj.com/article_print/SB121971201641371425.html

Wall Street would sell its mother if anyone would bid!!!!!!!!!!!!!!!! 

Can anyone compute math anymore??????????????

Selling the turnpike will barely pay for bridge repair in Pennsylvania.....less other infastructure needs.  How much of a price hike will a private owner demand once it has a monopoly on the turnpike????

Why the hell are we paying taxes anymore?????  The total proceeds of the tunpike sale barely covers 1/3 of NY's projected deficit!!!!!!!!!

Sure Obama wants to give away $100 Billion we don't have(Maybe we can sell the White House?).  Bush prosecutes a trillion dollar war to go after bunch of criminals less organized than most drug cartels in South America.  Is anyone thinking anymore???

What if there is inflation....what will the turnpike sale proceeds look like in a few years????  Will only the rich be able to travel accross Pennsylvania???

The country that our fathers fought and died to protect is now for sale.....why don't we start auctioning off our politicians(not sure there would be any bidders?).....or at least kill their ridiculous pension and other perk packages that the rest of us can only dream about.

5 Comments – Post Your Own

#1) On August 25, 2008 at 11:53 PM, DemonDoug (81.27) wrote:

I read somewhere a quote that went something like, "A capitalist would sell you the rope to hang himself with."

sounds like our "capitalist" comrades are selling off our country bit by bit.

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#2) On August 26, 2008 at 12:08 AM, alstry (34.92) wrote:

Demon,

I am a republic based capitalist..........this is trending more to fascism/communism.

On a side note that I will generally not raise on this blog.....here is an issue that can trump all that we are discussing.  In life, you never want to mess with a bear that has sharper horns than a bull without carefully considering the consequences.

Russia played a trump card in its strategic poker game with the West yesterday by threatening to suspend an agreement allowing Nato to take supplies and equipment to Afghanistan through Russia and Central Asia.

The agreement was struck at a Nato summit in April to provide an alternative supply route to the road between the Afghan capital and the Pakistani border, which has come under attack from militants on both sides of the frontier this year.

Zamir Kabulov, the Russian Ambassador to Afghanistan, told The Times in an interview that he believed the deal was no longer valid because Russia suspended military cooperation with Nato last week over its support for Georgia.

Asked if the move by Russia invalidated the agreement, he said: “Of course. Why not? If there is a suspension of military cooperation, this is military cooperation.”

“No one with common sense can expect to cooperate with Russia in one part of the world while acting against it in another,” he said.

http://www.timesonline.co.uk/tol/news/world/europe/article4608250.ece

I am not sure the average American truly understands the impact and implications of our current policy moves with respect to Georgia and the region.....it could truly screw up most of our "retirement" plans.

This is a very complicated issue and I will refrain from making future posts on the subject that can't be simply and directly correlated to investing.....but based on your online character.....you seem to get it.

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#3) On August 26, 2008 at 1:50 AM, DerektheDude (98.82) wrote:

Nebraska has a ballot measure up this year that would allow public and state agencies/governments to "prudently" invest in public companies.

While we haven't yet reached the point of leasing out Memorial Stadium here in Lincoln for bachelor parties and college keggers, this is still a step in that same direction. Anymore, everyone is looking for a way to keep their goodies but to make sure that someone else is paying for it.

And yes, "Bush's trillion-dollar war" has definitely not helped the economy here at home, who needs that money the most.

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#4) On August 26, 2008 at 1:59 AM, lquadland10 (< 20) wrote:

And thus is the next step in the North American Union with Canada USA and Mexico. Buy some silver for the Amero. Welcome to the New World Order that PRES. Bush Sr. talked about. Brush up on your French and Spanish it will help. Don't forget about the Drug cartels and corruption that we will inherit from Mexico. Not that the country does not have the same problems. We Do. a group of private investors to lease America's oldest major toll road, Were the buyers from this country or a different country? Like Spain or Dubi or whatever. this is trending more to fascism/communism. Now you know what people have been saying after they realized what the creation of the FED really is. The events of 9?11. Why do you think that everyone tried to say about Bush acting like Hilter and how could the germans let it happened. You are living it again and the question will be why did we let it happen. Remember that Bushes grandpappy's bank helped hilter into power and used the labor from the death camps. It is time to cull the worlds population so there will be WW III and you see how they are using the bible to give us the grand picture. A little money here and a little money there and get the right leaders in place all over the world in the right governments to do there job. The pope has been a really busy man traveling these days and it usually takes 6mos to a year for all heck to break out after he does this. I know this seems far fetched but I have watched the patterns from 1910 and this is what happens. Regan messed up the time line with the first cold war so now with the new people in place the writing is on the wall.How is that going to mess with retirement? Yep and Georgia admitted to being a new world order country after they killed men women and children in the dead of night. I had to scoop my jaw off the floor. Russia is now telling us to back off he will not take it like Afghanistan or Iraq. Yep it is a mess and little old ladies tell me that Our government do not care about us because they are run by corporations and the America they knew is not what it is now. As they wipe a tear from their eye and tell me that there is to much money in washington to be conserned with the people. Welcome to globalazation.

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#5) On August 26, 2008 at 1:01 PM, GNUBEE (25.25) wrote:

Alstry, have no fear. The albertis (yes lguadland spaniards) deal will not happen. Rendel's plan assumes that PA can come out ahead by investing the money Albertis/CITI gives PA in.............

.......The Stock Market "which has returned 12% historically"

Yeah, right chief. Rendel's gotta be kidding himself if he want's to bet the future revenue stream of the state on the "market" returning 12%.

Also for this crackpot scheme to work I-80 would have to be tolled too. Again, ain't happenin.

The precident will have to be set somewhere else.

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