Turnpike bid 'a slam dunk' for state, Rendell says

Of The Morning Call HARRISBURG - A joint Spanish and American investment consortium has made a $12.8 billion offer for a 75-year lease of the Pennsylvania Turnpike, setting into motion the state's plan to ...

[noname]

Commuters get hosed and Fast eddie gets his slush fund to hand out to his Mob buddies. I wonder if he has the big novelty checks already printed for the photo ops. If $4.00 gas hasn't driven people to using public transportation in Philadelphia and Pittsburg why does anyone think dumping billions of dollars into it will? The commercial base in this state is too widely distributed for effective mass transportation.

[Flavious_Maximus]

Any state rep that votes for this boondoggle should be voted OUT of office in November. We are already paying 37 cents a gallon tax to PAY FOR ROADS AND BRIDGES!!!! F-U Rendle!

[gdd]

Pretty soon the united states wont have anything to give away. The writings on the wall, and its not a good story.

[Allentown tax payer]

First why are we going out of the country, second why doensn't Rendell reduce the gas tax one of the highest in the nation, and third Karen Beyer and Pat Browne, I am watching what you do with this. Vote no. Too many jobs are being lost because of out of the country takeovers. Call the Morning Call and say you didn't get a newspaper, end up in India I bet.

[Nice Job]

Soon it will cost $150 to travel from Philly to Pittsburgh just in gas and tolls alone.

[OMG]

The turnpike will go down the tubes now that the pork chops are going to be involved..... and Eddie and his Mob kronies are getting pocket cash...

[Berks_Iraq_Vet]

Guess it depends on what your definition of "slam dunk" is.

Drop dead Rendell.

[We need to]

We need to:
slam dunk rendell.
don't get me started.
this guy is another bushie.

this is one sphere of political influence that needs to be out of Pa.
as well as, the united states of america.

let the "new world order" / "new economy" die now. it will certainly kill us all.

[Idiots]

OK a 75-year lease with a 10 year payout. So, what happens in year 11? I cannot possibly believe that our state gov't would be fiscally responsible enough to *BUDGET* the 1.1billion a year. They'd spend it like there's no tomorrow. And then, come year 11 there would be a budget shortfall.

While the I-80 tolls may seem unpalatable to many, at least the income stream wouldn't dry up in 10 years.

[Moronic Governor]

This creep is a crook!
Indict him with a grand jury and the Supreme Court judges as well.

[Lets Move Ahead]

This is the worst idea of all time from Gov Rendell, but why would that surprise anyone.

[VETO]

The only slam dunk here...is the mega cheesesteak Eddie is jammin down his gullet. The house needs to reject this debacle. Tolling I-80 would be the better scenario. But, on the otherhand GIVING THIS BULLY NOTHING would be the better option. 8 years of Rendell is mismanagement of state funds at its finest. At least that would stay within the state and create new jobs for people. Raising the tolls on the turnpike by an aveage of 2.5%/year. In 10 years in will cost $5.00 minimum to go from Allentown...to...Quakertown.

[ha ha nice]

This is the worst deal ever for that state. If the house does not shoot this down all of them need to be voted out of office. How much kick back in Fast Eddie 's picket. Remmer the casio's to lower our taxes, an other lie. What about the act 72 for the school taxes when Eddie said "we did not understand" all this guy wants to due is screw us over. He raised the gas tax the minute he was re-elected. Thanks to all the idiots that voted for him. What will this guy try next.

[LoLa]

Hey get your story straight, he doesn't eat cheese steaks, he's into the Burger King on the turnpike. I'm a witness.

[Bethlehem Taxpayer]

This is NUTS... Fast Eddie is the biggest crook! This jerk wants to lease a roadway that we allready pay to maintain to a foreign interest. We allready buy our oil, etc. from a foreign interest and we can all see how well that is going. Fat Eddie allready destroyed Philly years ago I can not believe we are letting him do the same to our once beautiful state.

PA Lawmakers - I will be watching your vote on this issue and will lead a strong campain against any of you who vote for this.

It looks to me like current turnpike employees are safe and secure for the next four years but after that I can't wait to see who this foreign company hires to maintain "their" turnpike, I gaurentee it will no be people who live and work in our community.

[Horse Head]

Eddie is selling the deal to the public the same way he sold the gambling deal. Lights action camera! Eddie and cronies are a bunch of crooks. Vote this clown out of office. Swann would of been a better choice. His presidential pick failed. The public saw right thru that smoke and mirrors show and they need to see through this on too.

[Horse Head]

The top bidder backed out at the last minute. Hmmmmmmm. Perhaps they did not want to pay the large donation that is required to obtain the deal.

[Horse Head]

LoLa wrote:

Hey get your story straight, he doesn't eat cheese steaks, he's into the Burger King on the turnpike. I'm a witness.

Hopefully you pissed on his Whopper before serving it to him.

[comment]

$12.8 billion
less bond debt outstanding of nearly $4.8 billion

Net of $8.0 billion to the state.

The turnpike does 144 million vehicles per year. This would take all of $42.55 per vehicle to reach $8.0 billion.

I think Citi Infastructure will recover their money in the first 2 years for paying back Pennsylvania, over the first 4 years, they will do a tremendous amount of upgrading to justify the 25% toll hike, plus the series of 2.5% hikes. They will also maximize the workforce they have pushing them harder than they ever worked before. This thing could be nearly paid for by Year 5, which leave 70 years of collecting nearly all profit, minus a greatly reduced operating budget, and incremental capex spending.

I am telling you this. The Commonwealth should have never sold this for under $70 billion based on the cost per mile per passenger per year that was paid for Chicago Skyway.

Do not pass this and let us hope that US Department of Transporation says no to "tolling I-80". Then fat baby Ed can go cry until 2010.

I am all for the Turnpike being sold, just not at giveaway prices. If you wanted $30, why would you settle for $12? Poor businessmanship.

[magnus]

we are handing our country over ..piece by piece by piece.

if the legislators hand the turnpike over to Spain.. I say a mutiny is in order.... storm Rendell's office.
VOTE NO NO NO NONONONONONONONO