Tutor Perini is a large construction firm that is building many of the nation’s large transit infrastructure projects, including California High Speed Rail and the San Francisco Central Subway project. We have expressed concern about a disconnect between accounting profits and cash losses – a pattern that has continued since we highlighted it during the high speed […]
Archive | 2016
California high speed rail: an exercise in constantly moving goalposts
The California High Speed Rail Authority has started construction in the Central Valley. How is it going? Our own analysis says it is 3 years late and at least 20% over the original budget. The Authority tells everyone that everything is coming in under bid. At first glance, this seems right. The contract bids are […]
Tutor Perini lost money on a cashflow basis in 2015, again
Tutor Perini released their earnings today. As previously announced in January, they were much, much lower than previously forecast. Why should people interested in California High Speed Rail care? Tutor Perini won the contract for the first 29 miles of civil construction for the California High Speed Rail Authority. They almost didn’t win the contract. […]
CARRD’s Updated cost estimates and oversight concerns
By Nadia Naik on January 27, 2016 in Business Plan, CARRD, CHSRA, Funding, Legislative Analysis, Parsons Brinckerhoff
Today we submitted comments for the Assembly Budget Subcommittee meeting focusing on High Speed Rail Oversight. Our main points of concern: In this case, construction bids and construction estimates are not (and have never been) apples-to-apples comparison. There is no public document that incorporates, tracks and forecasts all relevant costs for the ICS project, relative […]
California state legislature oversight hearings for high speed rail project
There are four committees in the California state legislature with explicit oversight responsibilities for the California High Speed Rail Authority. In the Assembly (California’s equivalent of the House of Representatives): 1 Budget Subcommittee 3 on Resources and Transportation – currently chaired by Richard Bloom (D-50) California has a fiscal year that ends on June 30th. The governor’s […]
Britain’s Embattled Network Rail: Why did California hire them?
In June 2015, the California High Speed Rail Authority (“CHSRA”) awarded a seven year, $700 million contract to manage the overall project to a consortium led by Parsons Brinckerhoff (PB). Network Rail was part of the winning consortium. Who is Network Rail anyway? British Rail, the old nationalized railway system, was dismembered a number of […]
Status of Environmental mitigation projects in the Central Valley
The California High Speed Rail Authority’s website states the Authority “is committed to working with local, state and federal agencies and local stakeholders to develop a high-speed rail system that preserves open spaces and environmental resources that make California golden. Because the project is starting work in the Central Valley in the summer of 2013, the […]
New California High Speed Rail Authority report released: will key federal funding be forfeited?
California High Speed Rail report shows delays and real challenges meeting federal deadlines for spending grant funds.
Why did Oakland’s Shimmick Construction bail out of CP 2-3 team a week before contract signing?
We clearly are not paying close enough attention to the high speed rail project. A team of Dragados (35%), Flatiron West (35%) and Shimmick (30%) had the winning bid for CP 2-3, a 65 mile stretch of civil construction in California’s Central Valley. It turns out the work will be done without Shimmick, who is involved […]