407 Congestion Relief
- Thread starter TeeJay
- Start date
Nope. Maybe they should sell it back to Ontario for 1% more than they paid for it.
They only got a sweetheart 99 year Lease deal with the Ontario Government. Something that the 407 ETR have already recovered and are now basking in their Glory of jacking up the prices on an annual basis to make it the most expensive highway in the world. Something that we the taxpayers paid for the purchase and construction of it, and now he have to fill the pockets of these leasers of the 407ETR!!
Thanks to Mike Harris. All so that he could pretend for one year that the books were balanced. We've been paying ever since.
I have to say no. The consortium of companies that bid for (and now runs) the highway should have factored this into their pricing so they should absorb the loss. Them's the breaks. Assistance should be given to people and companies that couldn't predict these events, or couldn't have coped with them even under the best of circumstances. The 407 is neither.
407 is a great highway especially because it's mostly empty and the extension to 115 is fabulous. I often find myself all alone, there. LOL!! It is a controversial piece of road, but in all fairness, why shouldn't the ownership not apply for relief? Like everybody else they too have been hit by the government's restrictions. The prices are high, but they've kept it in an immaculate condition. And besides, it's the only major route in the GTA with the entirely predictable travel times. Too bad it cannot be extended all the way to St. Catharines, Kitchener and north to Barrie. Oh yeah, the speed limit is screaming to be raised to 120km/h.
I thought the Spaniards were the majority owners, turns out its Ottawa.
Lease Ownership[edit]
As of August 2019, ownership of the 407 ETR Concession Company Limited ("407 ETR"), the operator/manager of the highway, is as follows:
Lease Ownership[edit]
As of August 2019, ownership of the 407 ETR Concession Company Limited ("407 ETR"), the operator/manager of the highway, is as follows:
- Indirectly owned subsidiaries of Canada Pension Plan Investment Board 50.01%[35][36]
- Cintra Global S.E., a subsidiary of Spanish firm Ferrovial S.A. 43.23%[35][36]
- SNC Lavalin 6.76%[35]
The 407 should get in line after the mom and pop shops that, unlike the 407, are likely not going to be around to recover or to do any business whatsoever.
Instead of having a hand out, the 407 might consider easing the pain for others and discount the gov build route for some or all vehicles.
Instead of having a hand out, the 407 might consider easing the pain for others and discount the gov build route for some or all vehicles.
Just as a point of fact.
The right to operate the 407 was an international tender.
Whoever paid THE MOST would receive the right to run the 407 (the government of Ontario still owns it).
Included with that deal was the cost of extending the 407 in the west from 427 to the QEW / 403 interchange in Burlington and the east from Markham Road to 135. Also included was the cost of all maintenance and operating costs.
Here's the thing to remember:
The winning bidders paid THE MOST to the province of Ontario. Let me repeat that, they paid the most of anyone in the entire world. You could have bid on it if you wanted to.
And here's the other thing to remember like any government run institution, if Ontario had of maintained ownership of the operation of 407, it would have been staffed and run by legions layabout government workers. Workers who move like molasses and believe they should all make 150 grand a year with full bennefits and pensions. If it had of remained in government hands, its operation would have become political, hugely in efficient, run by some commission, with rows and rows of fat cats and corrupt unions and it would be costing hundreds of millions a year if not billions a year to operate
Harris saved this province from a nightmare and instead of hemorrhaging money like everything else government it is actually making the province money.
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Not to mention that they would have just covered the concrete with crappy asphalt and it would become just as shitty as the 401 within one season. The current operator replaces the whole slabs and does it in one day and on the weekends, too.
The 407 was not built by the government. The land was acquired by the government over the years prior to construction.
Phase 1 of the construction, the government underwrote the loans under the then Transportation Capital.
Phases 2, 3 and 4 of the construction and all maintenance are paid by the consortium that runs it.
True, but such is life and those who cannot afford steak eat hamburger.And what would that cost per round tripmore than gas burned I bet
Interesting. Thanks for the info.
They do receive continuing government support through the force of law and cost of collections that doesn't apply to mom and pop shops, or any other private sector entity as far a I know.
Actually, the consortium pays the OPP to provide enforcement. I don't know who gets the ticket revenue.
Why should the 407 be treated any differently than any other business in Ontario or Canada which is receiving some sort of government handout?I don't care at all if they APPLY for relief. Just so long as the answer is NO FUCKING WAY.
Unless of course they want to renegotiate their contract.
Though I would be the first to insist that a full accounting of their books would need to be undertaken (by a government appointed auditor and the 407 would need to reimburse the government to 100 percent.)
