Economy

Highmark wasted no time taking over West Penn Allegheny Health System after regulators approved a $604 million deal that ended 18 months of turmoil and offered bondholders 87.5 cents on the dollar.

Chicago settled a legal dispute with the private operators of its parking meter system over lost revenue in an agreement that modifies the much maligned lease and could save the city as much as $1 billion over the next seven decades.

Arkansas will use federal Medicaid funds to purchase health insurance for an additional 250,000 low-income residents under a new pilot program.

A small health care district in Northern California, the Mendocino Coast Health Care District, is still slogging its way through Chapter 9 bankruptcy and hopes to exit this summer without impairing bondholders.

Austin is considering a plan to lease its airport to finance a light rail system, a move that would allow the city to bypass bonds for an inaugural 5.5-mile transit line.

Ontario, Calif., officials filed a claim on April 11 seeking to dissolve a joint powers agreement in an attempt to wrest control of its local airport away from Los Angeles World Airport.

Oregon Gov. John Kitzhaber said the $3.4 billion Columbia River Crossing bridge project will die if Washington lawmakers try to kill light-rail from the proposal, according to reports.

The Port Authority of New York and New Jersey voted Wednesday to use a public-private partnership to replace the Goethals Bridge between New York and New Jersey.

Moody's Investors Service issued a report on Wednesday that examined the local governments and school districts that rely on federal employment, procurement, Medicare reimbursement and education grants that would be most affected by sequestration.

The federal government will need to make difficult and politically divisive choices to maintain highway funding in coming years, transportation experts told members of the House Budget Committee Wednesday.

New York MTA chairman-designate Thomas Prendergast said favorable state aid might partially offset the size of a fare and toll increase in 2015.

New Orleans Aviation Board will build a smaller but more efficient passenger terminal with proceeds from $475 million of airport revenue bonds.

Gilt-edged Charlotte, N.C., will close May 7 on a $171 million deal that saw significant refunding savings as well as low borrowing costs at pricing, according to Treasurer Scott Greer.

Ratings agencies are awaiting details on the debt structure of the combined St. Luke's Episcopal Health System of Texas and Colorado-based Catholic Health Initiatives before issuing an opinion on the $2 billion deal.

Central Arkansas Transit Authority has the legal ability to issue tax-exempt bonds, but not the revenue to support the debt.

New York's Metropolitan Transportation Authority completed its first bond transaction entirely managed and underwritten by minority- and women-owned firms.

Variable-rate represents 8% of the total debt of New York's Metropolitan Transportation Authority and is well under its threshold, a finance official said.

Investors who bought $860.1 million of Charlotte Airport revenue bonds could be impaired by a bill in the North Carolina General Assembly, according to a bond attorney.

The trustee for $113 million of bonds issued for a privately owned and operated airport at Branson, Mo. are negotiating possible modifications to a forbearance agreement for the struggling airport.

A report from the American Association of State Highway and Transportation Officials details the funding plans of 30 states, including some creative options.