Click to see preamble.


APRIL 21, 2013


CA Bullet Train Derailed 

California High Speed Rail Summary.pdf
Today's guest: Joseph Vranich



Joseph Vranich is an Executive Coach/Consultant with clients located throughout the United States. He has been a guest many times on ABC, BBC, C-SPAN, CBS, NBC, CNN, Fox News, Japan Broadcasting, MSNBC, PBS, NPR, and has appeared on several hundred local broadcasts. He has served in executive positions with Fortune 50 companies, as a "corporate ambassador" to international customers, and as CEO of an international trade association where he testified before Congress many times. Moreover, he is an author and public speaker, has had speaking engagements throughout the United States and in Europe and Asia. His speeches have focused on business and commerce and on federal and state public policies that injure businesses. The Business Relocation Coach and Spectrum Location Solutions are Divisions of JV Executive Consulting, Inc. Email his new address:

Video: California's High-Speed Rail Boondoggle:

An Interview With CFEC's Eric Christen

More videos:


The CALIFORNIA HIGH SPEED RAIL Project (2012-2022)
California High Speed Trains: Business Plan
High-Speed Rail in the U.S.
Websites and material mentioned on today's program:
Spectrum Location Solutions - Joseph Vranich
The California High Speed Rail Proposal: a Due Diligence Report
Bullet Train Derailed by Facts

Click to enlarge.Many of you know that the Reason Foundation was planning to issue a new report on California's extravagant rail program, which it did on April 11 with "California High-Speed Rail: An Updated Due Diligence Report" authored by yours truly and Wendell Cox, with Adrian Moore as Project Manager.

I'm in the midst of intensive business travel and am not planning to write anything for the time being. However, I do want to share with you links to the source documents (in case you want to forward them to anyone) as well as a summary of media exposure as compiled by Reason.

Reason Documents
Here is a link to the press release about the report:
"Study: California High-Speed Rail System Would Lose $124 Million to $373 Million a Year"
April 11, 2013
Link to a commentary posted the same day:
"The GAO Didn't Endorse the California High-Speed Rail Project"

Link to a 12-page summary of the report:
Link to the full report:
Subsequent Media Attention
Associated Press 
Calif. governor praises Chinese for bullet train 
Yet critics and questions abound on both of those massive projects. A study released Thursday by the libertarian Reason Foundation said California rail officials were overestimating ridership on the high-speed rail line by as much as 77 percent, which would mean far less revenue once the bullet train begins operating. That contradicts a report given to members of Congress last month by the Government Accountability Office, which said the rail authority's ridership and revenue forecasts are reasonable. 
San Francisco Chronicle 
Sacramento Bee 
San Jose Mercury News 
U-T San Diego 
Contra Costa Times 
Fresno Bee 

Ventura County Star 
San Luis Obispo Tribune 

Merced Sun Star 

Lompoc Record
California taxpayers to subsidize high-speed rail -report 

(Reuters) - While California Governor Jerry Brown rode a bullet train in China, the libertarian Reason Foundation released a report on Thursday saying the state's planned high-speed rail system will likely need between $124 million and $373 million a year in operating subsidies once its core line is completed.


Wall Street Journal

April 12,2013
Gov. Brown Goes to China
By Allysia Finley
(CAUTION: ERROR in story. It's doubtful that the Wenzhou crash was at 217 mph, so none of you should quote that. The train was headed toward the nearby station and the actual speed of the train may have been about 120.)

Los Angeles Daily News 

If bullet train is built, a taxpayer bailout may be needed, study says 
A think tank warns slower-than-promised travel times on the planned Los Angeles-San Francisco bullet train could turn off many passengers, leaving the California High-Speed Rail system bleeding up to $373 million a year and needing a taxpayer bailout to keep operating. In a report being released today, the libertarian Reason Foundation said the California High-Speed Rail Authority - scheduled to break ground on the project in the Central Valley this summer - overestimated ridership by 65 to 77 percent. Long Beach Press Telegram Pasadena Star News Whittier Daily News San Bernadino Sun Ontario Inland Valley Bulletin
KFI: John and Ken Show
The California High-Speed Rail Authority is overestimating ridership by 65 to 77 percent and will need $124 million to $373 million a year from taxpayers to cover its operating costs and financial losses, according to a new study by Reason Foundation.

Also, Wendell Cox interview:

U-T San Diego 
Bullet train: Huge annual losses loom for troubled project 
By Wendell Cox & Joseph Vranich 
Our new Reason Foundation study compares the most recent California ridership and revenue estimates to comparable high-speed train experiences around the world and finds California’s numbers are still a fantasy.
Heidi Cuda
Brown Rides China's Rail While Report Blasts Bullet Train
The Record Searchlight /
April 14, 2013
New Study Says CA High-Speed Rail Will Lose Up To 373 Million Annually
Best regards,

Joe Vranich




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