The Spark Newspaper articlesCalifornia: Public millions funneled to private companies
California governor Arnold Schwarzenegger’s administration is handing out at least 170 million dollars of bond money to two railroad companies, Union Pacific and Burlington Northern Santa Fe, according to the Los Angeles Times.
In 2006, California voters passed a bond measure approving 20 billion dollars for public transportation. The money going to Union Pacific and Burlington Northern comes from this bond issue.
How much more of it is being milked by big business? How many other companies are doing the same thing? We may never know, as this kind of information usually never sees the light of day.
One thing is clear: These companies are making California taxpayers pay for their normal business expenses.
The bosses like their profits private, but obviously they have no problem socializing their expenses.