Trucker Strike

[b s express]

HERE IN INDIANA THEY SOLD THE TOLLWAY TO SOMEONE IN SPAIN . PRICE WILL BE $8.00+ TO GO FROM CHICAGO TO OHIO WITHIN THREE YEARS. you must get a "speedpass" (toll transponder) to save big money.

They do not talk about all the tax that is on that gas anymore. It is not the gas price as much as the TAX we pay on that gallon of gas that is not put back into the roads. NOT HERE IN NORTHWEST INDIANA.. THE WORST ROADS I HAVE DRIVEN ON IN MY TRAVELS ACROSS THIS COUNTRY ARE IN FRONT OF MY HOUSE AND IN SOUTH LAKE COUNTY INDIANA.

[78KW]

Jack, I agree. Indiana roads are generally no pleasure to drive on, especially where you live. No offense meant, by the way.

[Deleted]

The sold the toll road to some one in Spain? How can they do that?

I sort of agree with the taxes on fuel that are supposed to go back into the roads. Not to mention the tolls on the NYS Throughway, and all the tolls on the bridges in NYC. Last time I was down there it was $6 to go through the Lincoln Tunnel & $3.50 each way for the bridges per car! Where is all of that money going?

[41chevy]

The NYC tolls go to not only the bridges but also the LIRR ,subways, Metro Rail and Path in N.J., the Ferry boats and the rail link and lots at the airports. The Bridge and Tunnels tolls are for NYC only. Sold to Spain....I can believe it. Jones Beach is now Trump on the Ocean ,Nassau Colissium is owned be Wang of Computer Associates. Paul

[78KW]

The people from Spain(I forget the company's name) also work with an Austrailian company that is looking to invest in toll roads here in the states. Incidentally, I believe along with the Indiana Toll Road(Jack, correct me if I'm wrong) that the Chicago Skyway was part of that deal. Not sure though. I do remember it being fiercely contested from the reports I saw, but the governor(if he's not gone he needs to be) was relentless in pushing for it. The money gained from the lease was going to be this magic pill for Indiana, but I wonder if it will do all he said it would.

Now check this out. Part of many toll road leasing agreements that these various states get into, is that parallel roads to these toll roads can not recieve improvements other than maintenence. In other words, they can't make a 2 lane into a 4 lane, or other major investments. It's a non-compete clause, basically. Also, and Indiana is guilty of this, but I don't know how well it's enforced, states that do this are going to limit truck traffic on the nearest alternate routes. In other words, except for drivers that actually need to make a delivery off of US 20 or US 30 in Indiana for instance, trucks that are passing thru to bypass the toll road aren't supposed to use the US highways. New Jersey did a rule like that 8 years ago roughly. We as truckers were avoiding the Turnpike, so they passed a law that unless you have a pickup or delivery, you are to stay on the interstates. It was to prevent trips down US 1 and US 130 instead of the NJTPK. If you're just passing through, no wandering off the interstate beyond the truckstop or dealership basically. I don't know if NJ is considering a foreign lease or not, but I know PA is, and I think(don't quote me on this one) OH might be as well. This has been the big topic in the industry for the last few years.

My old boss was VERY strict about the use of any toll road. We were to use them only if we had NO choice, or basically, if the load needed to move, like, yesterday. Our office was in NW Ohio, and the OH TPK was off limits. That's because OH was raising the rates almost annually at that time(late'90's/early2000's). So the western 1/2 of northern Ohio was done all on 2 lanes for us. I learned how to avoid almost every toll from Chicago on east in the 4 years I drove for him. If you're not one who constantly has to stop, it didn't add that much more time to the trip. I left them 6 years ago, and with the freedom to use whatever road I wanted, I still enjoy a 2-lane cruise. Crazy, huh?!? LOL

Hey Paul. In the City, there is a place you and I knew as Rockerfeller Center when we were growing up. I heard years ago that it was supposedly sold off. What do they call it now? Do you know? I wonder how many other landmarks in NY will have their name changed. I notice even sports stadiums around the country were getting corporate names. Do Yankee and Shea Stadium still retain their names? The one in St Louis was named after TWA, but they are a defunct airline now, so I'm not sure what they call it anymore.

[78KW]

Apr 7, 2008 10:29:24 GMT -5 41chevy said:

It is amazing how nothing has changed!! My wife found all of my 'OVERDRIVE' mags from the late 70's.The first one I picked up was October 1978. Had a nice Superliner on the cover, but the editorial was about a national truckers strike to protest high fuel costs. 30 years later and it is still the same. Paul

Just out of curiosity, do you have the January issue of that year. I was born in Jan 1978, and I'm curious what pretty girl and truck combo they had on that one. I know it wasn't too many years later Overdrive quit putting girls on the front cover.

[ajy]

the skyway is chicago.it has nothin to do with indiana.but,it was also leased to someone els.

[78KW]

I know it's Ill, but I thought I read that the same people got it, too, but I'm not sure.

[ajy]

im not sure who got it.i think it was somone from penn.all i know,i used it about 2 weeks ago and it went up from $8.60 to $12.80.with the new roads they built on 94 in chicago,there isnt much of a delay anymore.so the 20 minuts i saved using the skyway to get downtown every day isnt worth takin the skyway.

[78KW]

I know to go from the Ohio border Lake Station, IN was less than $13, for an 18 wheeler. A trip of 140mi. I hear it's supposed to be close to $30 for the same trip soon. I'm not 100% sure what it will go to, but that's the figure I read. Needless to say, I take US 30, or on rare occasions, US 20 across Northern IN. I don't lose that much time doing that.

[longhaul]

Heres all the information on the chicago skyway. It is owned by a joint venture between Austrailia and Spain. These people lease out and privatize toll bridges and roads. They also own the Indiana Tollroad---Highway 407 in Ontario---and are the ones pushing for or have gotten the Trans-Texas Corridor.

If you read below you will find out how much Chicago sold out a piece of America for.

Jeff CASE STUDY NAME: CHICAGO SKYWAY « back
Location Chicago, Illinois
PPP Option Long Term Lease (99 years)
Mode Toll Highway
Description The Chicago Skyway is a 7.8-mile elevated toll road connecting I-94 (Dan Ryan Expressway) in Chicago to I-90 (Indiana Toll Road) at the Indiana border. The facility includes a 3.5-mile elevated mainline structure crossing the Calumet River. Built in 1958, the Skyway was operated and maintained by the City of Chicago Department of Streets and Sanitation. The facility carried approximately 50,000 vehicles per day in 2005.

In March 2004, the City of Chicago issued a request for qualifications (RFQ) from potential bidders interested in operating the facility on a long-term lease basis in March of 2004. It received 10 responses and in May 2004 invited five groups to prepare proposals. Bids were submitted in October 2004, with the long term awarded to Cintra/Macquarie on October 28, 2004. Cintra/Macquarie bid $1.83 billion for the 99-year concession, 2.6 times as much as the next highest bidder, a French and Canadian group led by Vinci Concessions. Abertis Infraestructures of Spain was the only other bidder, offering $505 million for the lease.

The Skyway Concession Company, LLC (SCC) assumed operations on the Skyway on January 26, 2005. SCC is responsible for all operating and maintenance costs of the Skyway but has the right to all toll and concession revenue. This agreement between SCC and the City of Chicago was the first long term lease of an existing toll road in the United States.
Sponsor City of Chicago

Cost $1.83 billion
Type of Finance Original financial structure:

Cintra equity: $397 million
Macuarie equity: $485 million
Bank Loans: $948 million (approximately)
SSC subsequently refinanced capital structure, which reduced the equity holdings of Cintra and Macquarie to approximately $510 million. Originally financed by European banks, the $1.550 billion refinancing also included Citgroup. $971 million of the refinancing involved capital accretion bonds with a 21-year maturity with an interest rate equivalent to 5.6 percent. There is an additional $439 million in 12-year floating rate notes, and $150 million in subordinated bank debt provided by Banco Bilbao Vizcaya Argentaria and Santander Central Hispano of Spain, together with Calyon of Chicago.

Revenue Sources Tolls: Up to $2.50 until 2008

$3.00 until 2011, $3.50 until 2013, $4.00 until 2015, $4.50 until 2017, $5.00 starting in 2017

Potential congestion pricing provision
Project Delivery / Contract Method NA

Private Operator Skyway Concession Company, LLC (SCC)

Private Investment Partners Cintra/Macquarie

Cintra is a part of Grupo Ferrovial, one of the largest infrastructure development companies in Europe with a market capitalization of more than US$8 billion.


Macquarie Infrastructure Group (Macquarie) is a subsidiary of Macquarie Bank Limited, Australia’s largest investment bank, with market capitalization of US $8 billion

Lenders Original financing: Banco Santander Central Hispano, Calyon, Banco Bilbao Vizcaya Argentaria, Depfa bank syndicated $1.2 billion nine-year non-recourse senior debt to 15 international banks.
Status Refinancing closed in August 2005

Innovations First long term lease of an existing public toll road in the United States

Funded a $500 million long-term and $375 million medium-term reserve for the City of Chicago, as well as a $100 million neighborhood, human, and business infrastructure fund to be drawn down over five years.
Related Links / Articles Official Site: www.chicagoskyway.org/

The TOLLROADSnews archives contain several informative articles on the Chicago Skyway www.tollroadsnews.info/archives.shtml

[78KW]

Whoa. You really put some effort into that research. I thought these people were in on the Trans Texas Corridor also, but wasn't sure. The last I heard some residents were fighting to stop it because I think they were going to lose their houses. It's been awhile since I heard mention of the one in Texas, so I'm not sure.

[06impala]

If the Govenor of Pa., "Fast" Eddie Rendell gets his way, I-80 across Pa. will become a toll road from Jersey to Ohio, also,look for the Pa Turnpike to get leased. Lease is said to be for a term of 75 YEARS! The toll collectors and maintenence workers are Teamsters. I'd like to see this one unfold,lol

[78KW]

Apr 21, 2008 20:50:08 GMT -5 06impala said:

If the Govenor of Pa., "Fast" Eddie Rendell gets his way, I-80 across Pa. will become a toll road from Jersey to Ohio, also,look for the Pa Turnpike to get leased. Lease is said to be for a term of 75 YEARS! The toll collectors and maintenence workers are Teamsters. I'd like to see this one unfold,lol

I'm waiting 2 see what becomes of that, but that's one of the reasons I left PA. It's getting expensive to live and do business there.

[ajy]

how about all of us owner opps sell our trucks and put our money togeather and buy an island somewhere.then we can charge people to come and vacation there.