Transportation industry

The Oklahoma Transportation Commission last week approved an estimated $4 billion construction plan for the next eight years that will include projects in each of the state’s 77 counties.

Public-private partnerships for transportation deals that involve concessions are likely to be held to new standards on pricing and competition, under a rule proposed last week by the Federal Highway Administration.

DALLAS - With short-term interest rates in a volatile state, the Texas Department of Transportation is planning a current refunding of $150 million of variable-rate toll bonds, most of which are held by Germany's Depfa Bank.

New Jersey officials last week approved toll increases on three toll roads, a move that will boost debt service coverage on New Jersey Turnpike Authority debt and help fund transportation infrastructure projects throughout the state.

The Federal Aviation Administration plans to go ahead with auctions of flight slots at three airports owned by the Port Authority of New York and New Jersey, the U.S. Department of Transportation announced yesterday.

WASHINGTON - House Speaker Nancy Pelosi will convene a forum here Monday to launch the development of a second economic stimulus package.

The Massachusetts Bay Transportation Authority is eager to sell $350 million of new-money assessment bonds, once market conditions allow for the agency to issue long-term debt.

The New Jersey Turnpike Authority plans to vote on its proposed toll hikes at a special meeting set for Friday, with those potential changes to take effect on or about Dec. 1, according to spokesman Joe Orlando.

The highway advocacy group Driving Louisiana Forward has launched an effort to boost state spending on road and bridge projects by at least $145 million a year.

DALLAS - Tarrant County, Tex., voters approved about $433.1 million of debt for new roads and criminal justice facilities in May 2006, but cost increases and credit market upheaval have kept most of the road projects on the shelf.

CHICAGO - Chicago would bar financial institutions from inclusion in city bond deals if they seek aid from the federal government's bailout plan but don't strictly limit executive compensation under an ordinance introduced yesterday to the City Council.

CHICAGO - As local governments across the country struggle with rising fuel costs, Indiana is launching a gasoline and diesel fuel-hedging program designed to help its municipalities offset the growing expense.

Denver International Airport lost $12 million in the first six months of the year, despite rising revenue. The airport reported a $9.2 million profit for the same period in 2007.

After two years of debate on how to finance transportation needs, voters in Hays County south of Austin will decide whether to issue $207 million of road bonds.

CHICAGO - Chicago's chief financial officer called the $2.521 billion price a private consortium will pay to operate Midway Airport for 99 years a "good value" for the city that may not get any better even if delayed until the current international fiscal crisis subsides.

Massachusetts Gov. Deval Patrick last week called for dismantling the Massachusetts Turnpike Authority and merging it into another state transportation agency. Meanwhile, one MassPike board member is calling for immediate toll hikes to help boost debt service coverage on $2.4 billion of debt.

The U.S. Government Accountability Office last week found that the Federal Aviation Administration did not have the legal authority to auction flight slots. The GAO’s decision handed a victory to the Port Authority of New York and New Jersey, which had threatened to prevent flights from landing if they used auctioned slots.

The deep freeze that the primary market has endured the last two weeks may begin to thaw a bit this week, aided by the much-anticipated news on Friday that the House approved the $700 billion financial rescue plan. But some market participants said it was too early to expect new-issue business to bounce back quickly given that the nation's economic crisis is far from over.

Pacific Ethanol Inc. Monday announced that it had launched production at its new Stockton facility.

The capital needs of airports across the country are expected to grow significantly during the next five years, the Federal Aviation Administration warned in a report issued yesterday.