407 ETR = Robbery

[train]

I agree with John Larue.

I think they raised a billion dollars.

The land was not sold but in order to make this deal, they had to lease it for 99 years I believe.

That money was used for this province's public good and not wasted like the federal gun registry.

At least Harris kept his promise.

Do you honestly think that if the government owned it, that we'd be paying less like we do with liquor (LCBO) or gasoline (Petro-Canada)?

Yeah right.

I think the selling price was between $3 and $4 billion and the company that purchased it has already widened it by one lane. I think it was a good deal for the taxpayers in that it cost them nothing and reduced the traffic on the 401 by a huge amount.

 

[buckwheat1]

it was sold for 3 billion, it cost tax payers nothing but if you reverse the thread here most people complaining about the price to travel it. It should of been sold for market value 12 billion at that point in time.

 

[onthebottom]

It's a DFU issue....

OTB

 

[KBear]

I made the same mistake of making a wrong turn and taking the 407 to the next exit. They sent some bills, and then it ended, no problem.

 

[LancsLad]

I don't mind paying the mileage fee for using the 407 ETR. I hate the other
charges. Which other companies charges you for sending you an invoice??

Toll charges: $1.11
Video charges: $3.60
Account Fee: $2.55
Total $7.26

the regulated utilities with their "account" fees. are another example.


.

 

[JohnLarue]

it was sold for 3 billion, it cost tax payers nothing but if you reverse the thread here most people complaining about the price to travel it. It should of been sold for market value 12 billion at that point in time.

Market value is what an asset can be sold for.
Since it was sold for $3B , then $3B was the market value

Now if you are aware of a $12B bid for the asset at the time it was sold, then the govt really screwed up.
However if the $12B is what you think it was worth at that point in time, then thats not market value

My guess is you read some engineering study pegging the value at $12B, but unless you have someone willing to pony up the $12B there is no market at that value

Its similar to a house
If you paid $300K and put $200K into it in renos you might think its worth $500K
But if you list it and the best offer is $350 then the market value of that house is $350, not a penny more

 

[Liber Pater]

Actually it's LEGAL robbery!!!

Actually, its HIGHWAY robbery....

Couldn't resist.

I hit that charge wall a year ago and just got a transponder. Avoids some of the charges, but I am not sure which one.

 

[Tiffany_69]

what

it was sold for 3 billion, it cost tax payers nothing but if you reverse the thread here most people complaining about the price to travel it. It should of been sold for market value 12 billion at that point in time.

Was your taxes if you lived in Ontario that built it. So how did it cost us nothing.

Yes I understand the post on cost Vs Market value.

Cost 12 bil to build and sold at a lost of 3bil to bal the books.

I like to know anual profit, because I was young but hey Harris was pitching it....... Will pay for it self and profits go into Ontario.
Now the profit does not even stay in the country never mind the provence.

Like Many things Harris fucked us out of.

 

[JohnLarue]

Was your taxes if you lived in Ontario that built it. So how did it cost us nothing.

Yes I understand the post on cost Vs Market value.

Cost 12 bil to build and sold at a lost of 3bil to bal the books.

I like to know anual profit, because I was young but hey Harris was pitching it....... Will pay for it self and profits go into Ontario.
Now the profit does not even stay in the country never mind the provence.

Like Many things Harris fucked us out of.

It did not cost $12B to build.
That $12B was a number somebody thought it should sell for
The cost was $1.6B and was sold for a profit of $3.0B

You can read it in this article
http://www.nationmaster.com/encyclopedia/Highway-407

The completed highway cost about $1.6 billion in 1997 and the 407 ETR bought it in 1999 for $3.1 billion. The current road is 108.081 kilometres in length, stretching from Burlington to Pickering.

 

[spankingman]

407

I keep on getting a CREDIT from 407 evey month for one cent!!!!!!! and it costs them .54 cents to mail it to me!!

 

[Tony2Tap]

If you had a Transponder you'd only pay the $1.11. Transponder costs $2/month to rent.

I use it everyday and it keeps me sane...small price to pay.

Transponder costs $2.50/month and there is a $0.25 trip charge on top of that as well...Guess you haven't seen your February bill yet.

Bottom line is it is still our choice to bypass it.

 

[buckwheat1]

Harris sold it because he was in a deficit he only balanced the books 1 year out of his 8 he was also talking about selling LCBO but it makes way to much money for them to sell, it's a cash can just gets fuller by the day. I'd sell TVO
for sure. The 407 should of remained PUBLIC with no tolls and it would of even taken more traffic off the 401. The 407 once put through to #115 will be great for many folks. I think al lot of trucks from Ottawa area will use #7 and then down onto the #407.

 

[Tiffany_69]

ok

It did not cost $12B to build.
That $12B was a number somebody thought it should sell for
The cost was $1.6B and was sold for a profit of $3.0B

You can read it in this article
http://www.nationmaster.com/encyclopedia/Highway-407

The completed highway cost about $1.6 billion in 1997 and the 407 ETR bought it in 1999 for $3.1 billion. The current road is 108.081 kilometres in length, stretching from Burlington to Pickering.

so make a profit still I would have like to see it kept local.