State Highway 130 Toll Road Operator Files For Bankruptcy

[DhhD]

http://www.texastribune.org/2016/03/02/sh-130-toll-road-files-bankruptcy/?goal=0_141c96f7df-440d1db2de-99982765&mc_cid=440d1db2de&mc_eid=d4f392404c
snip
A private company that operates part of the Texas toll road with the highest speed limit in the country filed for bankruptcy Wednesday, fewer than three years after the section of the road it oversees first opened.

The SH 130 Concession Company, a partnership between Spain-based Cintra and San Antonio-based Zachry American Infrastructure, opened the 41-mile-long southern portion of the State Highway 130 toll road, from north of Mustang Ridge to Seguin, in October 2012 to much fanfare. In addition to the record 85 mile-per-hour speed limit, the company signed an unprecedented deal with the state to build and operate its section of the road for 50 years in exchange for a portion of the toll revenue.
more at link


How costly can driving SH 130 become? Bankruptcy can take a long time to resolve. Will other toll systems fail also? Abbott promised no more toll problems when he ran for governor in 2014. Beginning in about 2005, Republicans lawmakers needed money for the failing state budget when they selfishly lowered property taxes on those that could afford to continue to pay their share of taxes. Now with dirty energy taxes failing, what will happen with the upcoming state budget when the Texas Legislature returns to session in January 2017? Republicans are bringing a losing system to Texans. Democrats will hopefully campaign on what is coming?

[liberal N proud]

1. Let's privatize all roads

What could possibly go wrong?

[TexasTowelie]

2. I'm surprised that this happen,

but then again I've been reporting this story for months and posted this story on my site yesterday morning. using KUT as the source.

http://democratsforever.freeforums.net/thread/4711/toll-road-operator-files-bankruptcy

[unc70]

3. Same company in Charlotte, NC

Project just starting there. Expect it to be reviewed heavily. I really hate toll roads.

[They_Live]

4. Now I get to say...

"I told you so."

[Javaman]

5. no surprise there.

it was a land grab money laundering scam.

lots and lots of well connected repukes made bank on this worthless POS highway.

it comes as no surprise to me that they went bankrupt. It's completely underused because 1) it serves no useful purpose 2) no one is willing to shell out the fee to drive on it.

Maybe it will be viable in 20 years when development finally reaches that area but frankly, I seriously doubt that will happen.