Investor's may not back bullet train until it starts operating

Investors may not be willing to back the state's bullet train project until after it begins operating, the California High-Speed Rail Authority said in a letter to key legislators, an acknowledgment that again raises serious questions about how the $43-billion construction cost will be paid over the next decade.

The letter gives a preview of the authority's upcoming business plan, a critical document that is supposed to address long-standing concerns that it lacks a credible blueprint for building and operating the system. Even supporters of the Southern California-to-San Francisco system have said the previous business plans were unrealistic in their estimates of construction costs and ridership numbers, among other things.

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-- Ralph Vartabedian, Los Angeles Times

 

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