Thursday, December 28, 2006

Pat on the back Sydney

Congrats to you Sydneysiders who have sent the Cross City Tunnel into receivership. Building a private toll road under the city may or may not have been a good idea. Even though the predicted traffic numbers were wildly overestimated, you have refused to use the road in significant numbers.

You did not put up with the road alterations designed to funnel traffic into the tunnel and forced the government to re-open streets and undo changes. You did not pay $3.50 for a journey of a couple of minutes. A couple of corporate heads have rolled, along with the head government department head and a government minister was 'moved on'. The owners of the company may lose between half and one billion dollars.

The banks who financed the project have taken it over and appointed receivers.

Well done Sydney.

There is plenty of reading in today's online edition of the Sydney Morning Herald.

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