Economy

The New York Thruway Authority has started the bonding process for a new Tappan Zee bridge.

The Illinois State Toll Highway Authority board approved two slates of financial teams to underwrite roughly $1 billion of toll-backed borrowing planned in its next two financings.

A plan released by the Washington Metropolitan Area Transit Authority details $6 billion of investment the nation's second-busiest subway system needs to make over the next 12 years, and stresses the need for new revenue to support it.

The large scale changes sweeping the nonprofit health care sector, chief among them changes in payment methods, are driving the record-setting consolidation trend among hospitals, Fitch Ratings says.

Two hospitals in Chicago's western suburbs — Elmhurst Memorial Healthcare and Edward Hospital & Health Services — are the latest to merge, joining the two-year-old surge nationally of not-for-profit healthcare consolidation.

Southwest Airlines and Los Angeles International Airport will fund up to $400 million in Terminal 1 improvements if the Los Angeles City Council approves the plan.

The $3 billion of bonding authority of the Cancer Prevention and Research Institute of Texas would be stripped, except for refundings, by a measure proposed by state lawmaker.

Gov. Andrew Cuomo's proposed $142.6 billion budget for 2013-14 included some plusses for New York City and the Metropolitan Transportation Authority.

Louisiana has delayed the single-tranche sale of up to $350 million of highway improvement revenue bonds, shifting to a plan for phased issues over three years.

With only one proposal for a $1 billion managed toll lanes development on Airport Freeway in the Dallas-Fort Worth area, the Texas Department of Transportation is enlarging the project and seeking more bidders.

Virginia Gov. Bob McDonnell announced on Tuesday that he will recommend over $2 billion of funding for hundreds of transportation projects statewide, new money projected to come from his controversial overhaul of the commonwealth's gas and sales taxes.

The Alameda Corridor Transportation Authority on Jan. 24 plans to price a $265 million refunding that is part of a debt restructuring plan.

Little Rock will save $2 million a year in debt service with a refunding of $24.7 million of airport revenue bonds from 1999 that financed projects at Bill and Hillary Clinton National Airport.

The FAA has cleared the path for Chicago to consider privatizing Midway International Airport, allowing for its release of a request for qualifications from potential bidders.

U.S. Transportation Secretary Ray LaHood told municipal leaders meeting in Washington Friday that he would help protect the tax-exempt status of municipal bonds.

SUNY Downstate Medical Center in Brooklyn faces insolvency as soon as May, said New York Comptroller Thomas DiNapoli.

Rep. Frank Wolf, R-Va., has reintroduced two bills aimed at giving Virginia control of the Metropolitan Washington Airports Authority and strengthening government oversight of the scandal-wracked issuer.

Moody's says the West Penn Allegheny debt restructuring features "close parallels" to the bankruptcy of the teetering health system's predecessor 15 years ago.

New York public health system Nassau Health Care Corp. captured an interest rate of 0.4% and saw broad investor interest Tuesday when it sold $40 million of insured revenue anticipation notes backed by future Medicaid payments.

Following a contentious battle, the Orange County Transportation Authority appointed Darrell Johnson as successor chief executive officer to the billion-dollar public agency.