This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Cities That Bent Over Backward For Big Projects

Projects: Airport and rail line
Denver just loves itself some cost overruns.

Take Denver International Airport. One of the busiest airports in the world, its peaked architecture and automated baggage and solar energy technology made it a wonder among its contemporaries. It was also an economic disaster when it opened in 1995. Design changes, strikes and problems with its baggage system put it 16 months behind schedule and, at $4.8 billion, nearly $2 billion over budget.

Not surprisingly, the city's public transportation initiative FasTracks finds itself in a similar state. A comprehensive plan for light rail, commuter rail and bus rapid transit expansion throughout Denver, Aurora and Boulder, the project was supposed to cost $4.7 billion and be paid for by a sales-tax increase approved in 2004 and implemented the next year.

That just didn't happen. By 2007, the project reported a $1.5 billion overrun. That increased to $1.8 billion by 2010 and, by the time the economic downturn took its toll, finally expanded to $2.5 billion.

The Department of Transportation eventually kicked the project $1 billion to finish up a pair of light rail lines, but it's still nearly $2 billion short of what it needs to finish within the next decade. Under the current budget, the final leg of FasTracks won't be complete until 2042. The regional transit district in charge of the project is considering a ballot issue this fall for another sales tax increase. As overruns mount and rail plans are reconsidered, however, FasTracks is steadily drifting into the slow lane.

9 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
COG $32.87 0.00%
MS $36.75 0.00%
MGM $21.43 0.00%
RJF $56.41 0.00%
S $5.11 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs