Dedicated to the advancement of the State of Indiana by re-affirming our state's constitutional principles that: all people are created equal; no religious test shall be imposed on our public officials and offices of trust; and no special privileges or immunities shall be granted to any class of citizens which are not granted on the same terms to all citizens. Advance Indiana, LLC. Copyright 2005-16. All rights reserved.
Wednesday, March 18, 2015
Bankrupt Toll Road Executives Receive $2.5 Million Bonus
There's nothing like being rewarded for failure. The executives of the bankrupt ITR Concessions, the company that went bankrupt operating the Indiana Toll Road, are scheduled to receive about $2.5 million in bonuses as a reward for their services following the sale of the company's remaining lease on the toll road to IFM Investors for $5.72 billion. It still remains a mystery to me how the buyer can cash flow the toll road on just $230 million in annual revenues.
They will be allowed to raise the tolls. Something the state was too stupid to do.
ReplyDeleteThe glorious wonders of the free market, amirite?
ReplyDelete