More Potential Trouble for the NC DOT
Are there states where the Department of Transportation works out of pure interests for the people, and not for power, political, or financial gain?
The NC DOT may have more troubles coming its way in the near future. (And they don’t seem to be able to admit when they may have made a mistake.)
According to an article on WBTV.com, the NC DOT made a deal with Spanish company Cintra to build and operate toll lanes along I-77. It appears that may have been a poor decision. Cintra does not have a great track record. The Texas subsidiary of Cintra just went bankrupt. In fact:
Of the four toll projects Cintra has had a hand in operating in the United States, three of them have faced financial difficulties. A Cintra subsidiary that operated the Indiana Toll Road declared bankruptcy in 2014 and was forced to sell its rights to toll the road. Another subsidiary that operated the Chicago Skyway sold its rights to collect those tolls in the face of financial difficulties. The third is SH 130, the subsidiary for which declared bankruptcy Wednesday.
The fourth US toll road operated by Cintra, the North Tarrant Expressway, opened less than two years ago in October 2014.
But the NC DOT still defends its choice of Cintra for I-77, and repeats assurances that the firm has a dependable track record.
The “I’m always right, even when I’m proved wrong” philosophy has never been successful in the long run. It’s a bully’s position, which might fool folks temporarily, but it is doomed to fail eventually. Let’s hope the powers in charge wise up before the NC DOT wastes more taxpayer money.