As a team of financial experts, with many years of diverse experience, we have reviewed and analyzed the financial aspects of the planned California High Speed Rail project, and have documented the financial risks of this project in a series of reports. We are proud to present our reports here.
If you are visiting this Web site for the first time, please click on the "1. Background Information" area to the left, or below, for guidance on how to find the information you are seeking.
News Flash - February 7, 2014 - An Addendum has been released to the July 2013 Briefing Paper “Diminishing Prospects For The Initial Construction Section/Central Valley Project”.
This report looks at the contractual and legal issues that exists between the California High Speed Rail Authority (CHSRA) and the DOT/FRA, as well as the obligations of Prop 1A and AB 3034. Underneath this complex set of obligations and constraints, the projected construction costs for the Initial Construction Segment and the available funding are analyzed. The conclusion is that in all likelihood the existing funding may be insufficient to accomplish the objectives of the CHSRA's 2012 Business Plan. The addendum points out that, based on recent cost estimates from the Authority, our initial estimate of $7 Billion to build the ICS needs to be revised upwards to $7.8 Billion. This report and the addendum are available in Section 3.1 of this Web site.
News Flash - January 29, 2014 - This Briefing Paper “Fleecing Local High-Speed Train Riders While Big City Executives Ride Cheaper” refutes California High Speed Rail Authority’s claims, in their 2012 Business Plan, of lower per mile ticket prices for local high-speed rail (HSR) passengers. Riding a HSR train in the Central Valley, Southern California or the San Francisco Peninsula will cost 3-4 times the present-day rail fares between the same destinations. This report is available in Section 3.1 of this Web site.
Note: Between August and October 2013 there were a series of submissions to the court and court rulings with respect to the Tos lawsuit. These documents can be found in Sections 5.5 to 5.9 of this Web site.
Note: As of June 2013, the California High Speed Rail Authority (CHSRA) has a new Web site. It is www.hsr.ca.gov
Their old Web site, which was at www.cahighspeedrail.ca.gov, has been shut down. Any attempt to access this Web site, and any of the information or documents that was contained on this site, will be re-directed to the new site’s home page. Our Web site contains reports and documents that reference, via footnotes, CHSRA documents with a direct link to the old CHSRA’s Web site. Therefore we are providing a list of these CHSRA documents and their new direct link, on the CHSRA’s new Web site. Please go to Section 1.1 for this information on accessing the new CHSRA Web site.
NOTE: On April 26, 2013, following the CHSRA's filing of their
court papers by the Attorney General's Office (which represents the
CHSRA), the lawyers representing Tos, Fukuda and King’s County filed their Closing Briefs and
supporting Declarations. These documents are in Section 5.3 and 5.4 of
this Web site.