California’s high-speed rail project threatens California’s financial future, according to a high-powered review board, which recommends that it be delayed. Will the report itself make it harder to raise needed money? Has California lost the vision required to maintain its worldwide technological leadership?
FROM THIS EPISODE
Another bid to buy the Dodgers from Frank McCourt. LA developer Rick Caruso—who created the Grove in LA’s Fairfax District and Glendale’s Americana at Brand—has joined forces with Joe Torre, who managed the Dodgers after taking the Yankees to four World Serious championships.
California’s High Speed Rail project and the California High Speed Rail Peer Review Group were created by state voters in Proposition 1A. The Review Group is a high-powered panel that provides the legislature with progress reports on the multi-billion dollar system to link the state’s major cities. But its latest report is a dire warning: the project represents “an immense financial risk to California” because there are no “credible sources of adequate funding.” The Rail Authority says the report is flawed—and that just releasing it will “create a cloud” threatening the very support the Review Group finds lacking.
The Iowa caucuses failed to produce a clear winner, and it’s on to New Hampshire, South Carolina and Florida before the end of this month. Rick Santorum came within 8 votes of 1st-place Mitt Romney, and Ron Paul was not far behind. But nobody got more than 25% of the vote. A dismal finish drove Michelle Bachman out of the race—but Rick Perry may still be a contender. Newt Gingrich says he’s not ready to quit.
Michael Scherer, Time Magazine (@michaelscherer)
Dean Spiliotes, Civic Scholar, Southern New Hampshire University
Dave Levinthal, Center for Public Integrity (@davelevinthal)
Gary Langer, Langer Research Associates and ABC News (@garylanger)