EDITORIAL: Not all trains have to be boondoggles - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
October 30, 2019 Newswires
Share
Share
Post
Email

EDITORIAL: Not all trains have to be boondoggles

Orange County Register (CA)

Oct. 30--California's high-speed rail system has been a slow-motion train wreck since 2008, when voters approved an initiative providing nearly $10 billion in bonds to fund a starter segment of a system to connect San Francisco to Los Angeles. An Orange County Register columnist rightly termed it "the very definition of a boondoggle."

This bullet train has been plagued with cost overruns. There's no need for it, given that Southwest Airlines already takes passengers from L.A. to the Bay Area quicker and cheaper than rail ever will.

Gov. Gavin Newsom scaled it back to focus on a segment through the San Joaquin Valley. It's a far cry, though, from the original grandiose promises.

It's time to pull the plug. But high-speed rail, like most forms of transit, is not bad per se -- provided such projects are based on their ability to cost-effectively solve transportation needs.

By contrast, this one was designed with the political motive of luring Californians out of their cars to fight against climate change. This is what happens when government ideologues, rather than transportation planners, conceive major projects.

By contrast, a proposed high-speed rail route connecting Los Angeles with Las Vegas has taken steps toward reality. A privately funded group is seeking regulatory approvals in Nevada and California. Trains could be running as early as 2023. This could address an actual traffic problem -- as anyone knows who has driven north on Interstate 15 on a Friday night.

Crowds want to go from Southern California to Vegas, which explains why the line has attracted private investment and the state plan to link Bakersfield to Merced has not.

We're not thrilled the Las Vegas project developer is seeking $800 million in tax-exempt private activity bonds, even though it's a far cry from the $68 billion-plus in direct subsidies sought by California bullet-train officials.

We'll watch how this idea progresses.

It's a reminder, though, that transit systems based on demand and funded by investors can offer real-world solutions.

Maybe our government can learn from them. At the very least, such projects are unlikely to become taxpayer sinkholes.

___

(c)2019 The Orange County Register (Santa Ana, Calif.)

Visit The Orange County Register (Santa Ana, Calif.) at www.ocregister.com

Distributed by Tribune Content Agency, LLC.

Older

Radian Announces Third Quarter 2019 Financial Results

Newer

Tiptree to Hold Conference Call for Q3 2019 Results on Thursday, November 7, 2019

Advisor News

  • What advisors think about pooled employer plans, alternative investments
  • AI, stablecoins and private market expansion may reshape financial services by 2030
  • Cheers to summer, and planning for what comes next
  • Why seniors fear spending their own retirement wealth
  • The McEwen Group Merges with Prairie Wealth Advisors to Form Billion Dollar RIA
More Advisor News

Annuity News

  • AuguStar Retirement launches StarStream Variable Annuity
  • Prismic Life Announces Completion of Oversubscribed Capital Raise
  • Guaranteed income streams help preserve assets later in retirement
  • MassMutual turns 175, Marking Generations of Delivering on its Commitments
  • ALIRT Insurance Research: U.S. Life Insurance Industry In Transition
More Annuity News

Health/Employee Benefits News

  • Mandela Barnes proposes blocking use of AI to boost consumer prices
  • NCOIL adopts Individual Coverage Health Reimbursement Arrangement Model Act
  • All about AHCCCS: Navigating Arizona Medicaid’s changing landscape
  • A unique Oregon law allows it to block healthcare deals. The state hasn't used it.
  • UNM faculty union fights 13% health insurance hike
More Health/Employee Benefits News

Life Insurance News

  • AI, stablecoins and private market expansion may reshape financial services by 2030
  • Transgender plaintiffs win preliminary victories in three gender-affirming care lawsuits
  • AM Best Upgrades Issuer Credit Rating of Southern Farm Bureau Life Insurance Company
  • Industry Innovator Scores New High-Water Mark: Reliance Matrix Logs 8 Millionth Employee Benefit/Absence Claim
  • $150M+ asset sale payout distributed to Greg Lindberg policyholders
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Why Blend in When You Can Make a Splash?
Pacific Life’s registered index-linked annuity offers what many love about RILAs—plus more!

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Discipline Over Headline Rates
Discover a disciplined strategy built for consistency, transparency, and long-term value.

Press Releases

  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
  • ePIC Services Company Joins wealth.com on Featured Panel at PEAK Brokerage Services’ SPARK! Event, Signaling a Shift in How Advisors Deliver Estate and Legacy Planning
  • Hexure Offers Real-Time Case Status Visibility and Enhanced Post-Issue Servicing in FireLight Through Expanded DTCC Partnership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet