Transportation industry

A year after firing its new CEO, the Wayne County Airport Authority, Michigan has hired the airport's long-time CFO Thomas Naughton to serve in the top position.

The Louisiana State Bond Commission wants underwriters selling $350 million of state highway revenue bonds to develop a structure to take advantage of the market's current low interest rates.

Lisa Telles has been named acting chief executive officer of the Transportation Corridor Agencies, Orange County, Calif.'s 67-mile toll road system.

The Port Authority of New York and New Jersey's toll increases were necessary to keep the agency's facilities in a state of good repair, according to independent reports made public on Wednesday.

The North Texas Tollway Authority approved refunding up to $150 million of toll revenue bonds.

The Louisiana State Bond Commission will select underwriters and bond counsel for $334 million of revenue bonds backed by the state highway improvement fund.

The Atlanta City Council reauthorized a $350 million commercial paper program for Hartsfield-Jackson Atlanta International Airport.

Standard & Poor's revised the outlook on New Jersey's general obligation bonds to negative from stable, based on the state's structural imbalance and optimistic revenue assumptions.

Arkansas will pay a true interest cost of 1.62% on $225 million of grant anticipation revenue vehicle bonds priced won by JPMorgan in a competitive sale.

Transportation advocates are upset about the sequestration cuts. Although most dedicated funding sources for transportation infrastructure were protected from the mandatory spending reductions, highways and airports could both take a hit if Congress doesn't act.

New York's Metropolitan Transportation Authority will hold a $1 billion refunding bond sale as budget uncertainty, a court appeal and fare increases hover.

Michigan State Sen. Mike Kowell plans to introduce bills to create a new statewide port authority that could issue bonds for economic development projects and expand powers of the Detroit Wayne County Port Authority.

Starved for capital funding, the Regional Transportation Authority of Illinois unveiled a $2.5 billion borrowing proposal Friday that relies on projected growth in existing revenue streams and maintenance savings to repay.

The chairman of New York's Metropolitan Transportation Authority warned about reducing or even eliminating unlimited fare and other MetroCard discounts.

Standard & Poor's affirmed Connecticut general airport revenue bonds for Bradley International Airport at A-minus, and assigned that rating to a new deal.

After an overhaul of its parking authority, the Scranton, Pa., City Council voted unanimously to cover an authority bond payment due Saturday.

An adverse ruling from the Hawaii Supreme Court regarding archaeological surveys for native Hawaiian burial sites has halted construction on Honolulu's $5.16 billion elevated rail project.

Chicago's proposed new use agreement with Midway International Airport's airlines calls for more than $1 billion in capital and maintenance spending over its 15-year term as the city continues to weigh whether to privatize operations.

Broward County, Fla., launches a $2 billion capital improvement program for Fort Lauderdale-Hollywood International Airport Wednesday with the sale of $636 million of bonds.

Fitch Ratings announced Wednesday that uncertainties in federal transportation funding led to downgrades of GARVEES. The agency also warned against further weakening possible along the current trajectory.