The auto subsidies roll on: GMAC, the financing arm of General Motors, is likely to get a $5.6 billion new capital injection from the US Treasury “in the form of preferred equity,” according to two unnamed sources. [Financial Times]
Columnist Dan Walters offers up reasons for his skepticism towards the viability of California’s planned new high-speed rail corridor. He shortsightedly limits his estimate of the line’s economic benefits to the direct construction and operation jobs created. The indirect boosts to the economies of the cities served by the route—as they are literally brought closer together—would be far greater than its direct impact on employment. The CAHSR Blog has a point-by-point rebuttal. Meanwhile, CAHSR’s list of backers is growing by the day.
Travel writer Rob Lovitt heralds recent expansions to the Amtrak network—including the Northeast Regional extension to Lynchburg and the addition of a Portland-Vancouver Cascades round trip—and the railroad’s second-highest yearly ridership total in its history, as signs that trains’ popularity is growing.
The Gulf States are set to spend over $100 billion on rail projects in the coming years—no, we’re not talking about Louisiana, Mississippi, Alabama and Florida (though we wish we were!).
CQ’s transportation reporter Colby Itkowitz contrasts political attitudes towards transportation in the US with those in Germany, where highways and inter-city rail receive equivalent funding because the country’s leaders recognize that transportation is a “major basis of prosperity and quality of life.” It is up to the majority of Americans who know this to be true to press as hard as we can to translate our vision into better public policy. [Streetsblog DC]
Amtrak’s study of returning service to the North Coast Hiawatha route is generating anticipation along the line, as reflected in articles in the Bismarck Tribune and the Missoulian.
LCL: An Amtrak service milestone reminds residents of Port Huron, Michigan, of the train’s importance to the area’s economy and quality of life. *** Transportation Secretary Ray LaHood issues an ultimatum to the Florida legislature, saying the state will lose federal funds for a “shovel-ready” commuter rail line if it doesn’t pitch in its share. *** My hometown newspaper strongly endorses North Carolina’s bid for Recovery Act high-speed rail funds, calling the expansion of passenger rail capacity “a critical infrastructure investment.” *** The Idaho Statesmanexplains local rail advocates’ concerns—echoed by NARP and Sen. Michael Crapo (R-ID)—with Amtrak’s Pioneer restoration report. *** A slice of life at a typical stop on a long-distance train.
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