Economy

The Port Authority of New York and New Jersey last week elected former New Jersey Attorney General David Samson as chairman.

Both the main airport and seaport in the Commonwealth of the Northern Mariana Islands remain shaky financial propositions, Fitch Ratings said this week in affirming their speculative-grade ratings.

CHICAGO — Chicago Mayor Richard Daley on Thursday questioned the sincerity of American Airlines and United Airlines' willingness to meet with him in an attempt to resolve differences over the timing and financing of $3.36 billion worth of expansion projects at O'Hare International Airport.

The New Jersey Turnpike Authority could roll back toll increases to reflect $1.25 billion it no longer needs to spend on a canceled mass transit tunnel project and still meet contractual debt-service coverage levels, according to an analysis from the Office of Legislative Services.

CHICAGO — States already facing big challenges balancing their budgets should brace for new costs and volatility stemming from implementation of the new federal health care law over the next few years, Standard & Poor’s said in a new report.

The Metropolitan Atlanta Rapid Transit Authority signed a $142.9 million contract last week to begin a major overhaul of its aging train-control and rail-safety systems in a deal that is expected to require some bond financing.

In an effort to drum up a new source of revenue for Florida’s beleaguered transportation trust fund, two lawmakers have filed identical bills authorizing the sale of naming rights and advertising space on state-owned transportation facilities.

CHICAGO — Chicago Mayor Richard Daley will meet with executives at American Airlines and United Airlines Thursday as a legal standoff over $3.36 billion worth of expansion projects at O’Hare International Airport drags on.

DALLAS — As Denver International Airport embarks on the largest expansion project in its 16-year history, it’s benefitting from surging passenger levels and an improving economy that yielded a new traffic record in 2010.

Gov. Pat Quinn last week signed Medicaid reform legislation aimed at saving Illinois at least $624 million over five years.

WASHINGTON — The Internal Revenue Service is auditing $51 million of auction-rate securities that were issued in a conduit deal in 2005 by the Orange County, Fla., Health Facilities Authority to current-refund bonds and finance a hospital project.

WASHINGTON — The District of Columbia expects to issue $81.7 million of federal highway grant anticipation revenue bonds on Wednesday in a deal that was delayed from December at an additional cost to the district of about $2 million.

A ceremony last week in San Antonio celebrated the beginning of a $900 million expansion of University Hospital, which is being financed with help from a $751.2 million debt program authorized in 2008 by Bexar County commissioners.

BRADENTON, Fla. — The Nashville Metropolitan Transit Authority has hired Parsons Brinckerhoff to do a year-long study of high-capacity transit options to shuttle workers and tourists to and from the city’s busy downtown business and entertainment districts.

Philadelphia International Airport plans a $5.2 billion expansion project that would include about $4.2 billion of borrowing to help finance an increase in capacity. Officials also would like to improve the facility’s on-time record, especially during bad weather.

The Dormitory Authority of the State of New York gave final and preliminary approval last week to nearly $600 million of bonds.

New Jersey is seeking underwriting services as the state’s Transportation Trust Fund Authority plans to issue $600 million of tax-exempt, new-money bonds by April 15 to help finance roads, bridges, and public transportation.

CHICAGO — Chicago has backed off from its plan to sell $1.1 billion of O’Hare International Airport bonds next week as it fights a lawsuit filed by the airport’s two largest carriers challenging its authority to finish work on an $8 billion expansion plan without airline consent.

CHICAGO — Three weeks after the Federal Trade Commission sued Promedica Health System, arguing it violated antitrust rules, the Ohio-based hospital chain is keeping a $249 million new-money deal on hold.

Attracting private-sector investment is a key element to building a high-speed rail system in the Northeast, witnesses and Congress members said Thursday at a hearing in New York City.