CALIFORNIA | LOCAL
April 24, 2012 | By Ralph Vartabedian, Los Angeles Times
The state rail authority has grossly underestimated future operating costs of California's proposed bullet train, meaning taxpayers potentially will have to provide billions of dollars annually once the system is running, according to an analysis released Monday by a group of outside financial experts. The California High Speed Rail Authority's claim that its future system would generate hundreds of millions of dollars in surpluses is based on unrealistic assumptions about what it will cost to operate the network, according to the study group, which included former World Bank official William Grindley and Stanford University management professor Alain C. Enthoven.
CALIFORNIA | LOCAL
April 23, 2012 | George Skelton, Capitol Journal
SACRAMENTO - The car salesman offers you a sleek new luxury model for $33,000. Go for it, you think. Time for an upgrade. Sold. Oops, the sales guy says later. Those numbers won't pencil. We'll need $98,000. You're stunned and outraged. Tell you what, the dealer counters. We'll let ya have it for $68,000 and take off some options. Take the car and shove it, you tell him. Can't afford it. Don't need it. You're entitled to do that - back out of a car deal before taking delivery.
CALIFORNIA | LOCAL
April 18, 2012 | By Ralph Vartabedian, Los Angeles Times
The plan to build a bullet train has so many funding uncertainties and so many other details that remain unclear that the state should delay any decision this year to commit billions of dollars to the project, the nonpartisan research branch of the Legislature recommended Tuesday. The tough advice came on the day before two key legislative committees are to examine the plan and an accompanying request by Gov. Jerry Brown for funding to start a $6-billion construction segment in the Central Valley.
CALIFORNIA | LOCAL
April 11, 2012 | By Ralph Vartabedian, Los Angeles Times
The plan to build the California bullet train is almost certain to be approved Thursday by the state's high-speed rail authority at a board meeting in San Francisco, but the project is facing a less certain future in Sacramento. The rail authority has long insisted that it needs to move as quickly as possible, starting construction on an initial $6-billion segment of track through the Central Valley this year to meet the terms of a federal grant that covers more than half of the initial project.
CALIFORNIA | LOCAL
April 10, 2012 | By Dan Weikel, Los Angeles Times
A congressional committee has launched a wide-ranging examination of the California high-speed rail project, including possible conflicts of interest and how the agency overseeing it plans to spend billions of dollars in federal assistance. The House Committee on Oversight and Government Reform, chaired by Rep. Darrell Issa (R-Vista), notified the California High-Speed Authority about the review Monday and ordered the agency to preserve its documents and records of past communications.
CALIFORNIA | LOCAL
April 9, 2012 | By Dan Weikel and Ralph Vartabedian, Los Angeles Times
A transportation expert hired by California bullet train officials to ensure the accuracy of critical ridership forecasts worked for the company that prepared the estimates and maintains a close relationship with one of the firm's top executives. The consultant, Frank S. Koppelman, a professor emeritus of civil engineering at Northwestern University, has chaired the California High-Speed Rail Authority's ridership review panel since December 2010, assessing the projections of Cambridge Systematics Inc., a Massachusetts-based research company.