Which 121 (Denton Co, TX) Toll Road Proposal Less Risky? Report Says Cintra, But Guess Who Gets PAID by CintraSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


Which 121 (Denton Co, TX) Toll Road Proposal Less Risky? Report Says Cintra, But Guess Who Gets PAID by Cintra

16 June 2007 at 11:33:37 AM

I saw the other day some blah-blah article that said "Report Unveiled (can you hear the trumpets sounding) That Shows Better To Have Privately Funded Toll Roads Do 121 Rather than, Say, NTTA". The report was paid for by the RTC and done by Price Waterhouse Cooper. When I saw this, I thought, hmm, report... any conflict there?

Building Texas 121 in Denton and Collin counties as a privately funded toll road would be less risky, and in most scenarios a better financial deal, than assigning the task to the public North Texas Tollway Authority, concluded an independent report unveiled Thursday.

The report by PricewaterhouseCoopers was paid for by the Regional Transportation Council, which held a five-hour workshop Thursday to talk about details of two proposals it had received to build the road.

One bidder, Cintra/JPMorgan would pay $2.15 billion upfront and $716 million over 50 years for the right to collect tolls on the road north of Grapevine. The money could be used on other North Texas transportation projects. A second bidder, the tollway authority, offered to pay $2.5 billion upfront and $833 million over 50 years.

Yup, there is. Today, I see that Price Waterhouse Cooper is actually in bed with .... CINTRA! So let's review. A report that says a Private Entity running the toll roads would be better; tha report CREATED by the company who has been getting PAID for both auditing and developing financial models for the TTC.

An accounting firm's evaluation of rival bids to build and operate the lucrative State Highway 121 toll road may not have been as independent as first billed, according to some public officials who will vote on the bids.

Corporate records show that Price Waterhouse Coopers, which was hired to evaluate the bids, has served as outside auditor to the Spanish firm Cintra since 2003. Cintra also paid the accounting firm $100,000 to develop financial models for the controversial Trans-Texas Corridor highway project in 2004.

Mike Eastland, executive director of the North Central Texas Council of Governments, defended his agency's hiring of Price Waterhouse. He said many council members knew about Price Waterhouse's work as Cintra's auditor but acknowledged that he or his staff should have informed the 39-member Regional Transportation Council about the accounting firm's work with Cintra on the Trans-Texas Corridor.

"We did fail, apparently, to convey that to the board, and I'll take responsibility for that," Mr. Eastland said. "It's an oversight on our part. I can see nothing in the [Price Waterhouse] analysis or their way of presenting it that would say we're trying to slant this one way or the other."

Executives at the North Texas Tollway Authority, Cintra's rival for the Highway 121 contract, said Price Waterhouse's assessment, delivered to the transportation council on Thursday, was biased.

"Our point is incredibly obvious," NTTA board chairman Paul Wageman said. "The judge of a competition should not be in business with one of the contestants. How can Price Waterhouse Coopers possibly be unbiased and fair in evaluating its partner's proposal against a competitor's?

"What the NTTA, the RTC members and the region didn't know is that Price Waterhouse Coopers is part of Cintra's team on a [Trans-Texas Corridor] project worth billions of dollars," Mr. Wageman said.

"That's sour grapes," said Cintra's Jose Lopez, president of the company's North American operations.

Don't make me LAUGH! Oh, I did. Yeah, Sour Grapes all Right, MR. CROOK! Is there any more we should know about what a corrupt organization Cintra is?

Permalink Tags:          
     Views: 709 
Latest Blog Post by salon -Should Govt Be able to exercise pardons for horrible people (Matt Bevins-KY)
More Posts You Might Enjoy
Don't Like Toll Roads? TxDOT doesn't care what you think- Highway 130 Near Seguin, Texas
TxDOT Continues to Push TTC Swill Down Texan's Throats- Contract to Private Toll Operators
Ron Paul Filed a Bill to Prevent Federal Funds for the Trans Texas Corridor
Video from 2006- Trans Texas Corridor- Waco (McLennan Co) Tex-Lester Gibson

 You! Leave a Comment! You Know you Want To!
You must be a registered member to comment on the blog.
Your first post is held pending approval to make sure you're not a spammer bot

 Not registered? Or you can login!

LOGON - Name:Password:

New poster comments are moderated, meaning they won't show up until approved... or not.  Be patient-we have lives outside this blog, so it might take awhile You want to be rude? totally stupid? inappropriate? Racist? Bigoted? Flame war baiter? Your post may be deleted. Spammers or people posting pretend interest comments but really wanting to hawk their latest book or sell stuff or govt propaganda flacks won't see their posts published. Comments do not necessarily reflect the viewpoint of the site owner(salon).
If you have a problem with logging in or registering, please speak up right away. Love your comments. Oh, except spammers
More on commenting


Click Here for Main Page

Today Is  
Saturday, December 14, 2019

Latest Posts

Should Govt Be able to exercise pardons for horrible people (Matt Bevins-KY)
salon 12/13/2019 Views 26

How Specific Does TOMA Notice Need to be (City of Austin v Lake Austin Collective, Inc)
salon 12/13/2019 Views 30

House Judiciary Committee Votes to Send Articles of Impeachment to the Full House for a Vote
salon 12/13/2019 Views 89

Video re: Danny Chambers Drag Racing Around the Square In Youth (Glen Rose)
salon 12/11/2019 Views 79

Video-Somervell County Commissioners Court Dec 9 2019 Regular Meeting- FULL
salon 12/10/2019 Views 73

Video-Somervell County Commissioners Court Dec 9 2019 Special Session
salon 12/10/2019 Views 64

More Blog Headlines


salon > Quick update on this, via Pacer-Click on pic to see larger (Turk Case Update- Telephone Conference Hearing Set for March 8 2019 )

salon > Lance Been awhile. Send me an email at salon@glenrose.net with the names of who you're talking about, above. Also, the newspaper editor is no longer local, ie officed here, but the paper is run.... (What Happened to Jerry Jacene? )

LanceHall > I'd love to see the Hotel Guest books and see if Jacene's name shows up long before he officially *found* the tracks.  I'd like to know if the Visitor's Bureau has emails wit.... (What Happened to Jerry Jacene? )

LanceHall > I see the land or that part of it is now in the hands of Glen Rose's own Corky Underwood. Is Jacene still involved?   I had already informed the Visitor Bureau manager (who's.... (What Happened to Jerry Jacene? )

Home | Blog Home | About | News | Piazza | Calendar | Audio/Video/Open Rec | Search
Write!  |profile | quotes |
top Daily | top Weekly |top Month | top Year | Top All! | archives | subscribe RSS