Lining up at the turnpike gates
The Pennsylvania Turnpike Commission is interested in leasing the 360-mile turnpike it now runs.
The commission's submission was among 48 letters received by the state Department of Transportation by the deadline Friday. The commission's letter was not anticipated.
"We have submitted an expression of interest that outlines our recommendations on how we could help close the gap that exists in highway and mass-transit funding in Pennsylvania," said Carl DeFebo, a Turnpike Commission spokesman.
Yesterday was the deadline set by Gov. Ed Rendell for companies to submit the letters of interest. Leasing the turnpike is viewed as a way to pay for shortfalls in highway, bridge and mass-transit spending.
Before he became governor, Rendell was employed by the law firm Ballard Spahr Andrews & Ingersoll LLP, which submitted a letter.
PennDOT spokesman Rich Kirkpatrick would not comment on the content of the letters but said officials would review them.
"This was an open call for expressions of interest to assist the commonwealth in pursuit of the concept of leasing the turnpike," he said. "Any entity was free to submit information."
Submitting letters were:
Abertis, Alexandria, Va.
Allen & Overy, New York City
Ballard Spahr Andrews & Ingersoll LLP, Washington, D.C.
Banc of America Securities LLC, New York City
Bear, Stearns & Co. Inc, New York City
Borealis Infrastructure, Toronto
Cabrera Capital Markets Inc., Chicago
Cash-Ware Inc., Monroeville
Chapman and Cutler, Chicago
Cintra Developments LLC, Austin, Texas
Credit Suisse Securities (USA), New York City
Deloitte Consulting LLP, Harrisburg
FFC Construction S.A., Spain
First Southwest Co., Houston, Texas
Fluor Enterprises Inc., Arlington, Va.
Goldman, Sachs & Co., New York City, and AIG Financial Products Co., Wilton, Conn.
Global Capital Finance, Purchase, N.Y.
HDR Engineering Inc., Pittsburgh
HH Capital Advisors LLC (The Herrick Co. Inc.), Cedar Knolls, N.Y.
Halcrow Inc., Herndon, Va.
ING Group, New York City
Infrastructure Management Group, Bethesda, Md.
= IRIDIUM Concesiones de Infraestructuras S.A., Spain
J.P. Morgan Investments Management, New York City
J.P. Morgan Securities Inc., New York City
KPMG Corporate Finance, Austin, Texas
Lazard Freres & Co., LLC, New York City
Lehman Brothers, Philadelphia
Macquarie Securities (USA) Inc., New York City
Mayer, Brown, Rowe & Maw, Chicago
Merrilll Lynch, New York City
Michael Baker Corp., Moon
Morgan Stanley, New York City
National Economic Research Associates Inc, Philadelphia
Navigant Consulting, Pittsburgh
Nossaman, Guthner, Knox & Elliott LLP, Los Angeles
Parsons Brinckerhoff, New York City
Pennsylvania Turnpike Commission, Harrisburg
Ramirez & Co., New York City
Rand Corp., Santa Monica, Calif.
RBC Capital Markets, St. Petersburg, Fla.
RREEF America LLC, New York City
The Carlyle Group, New York City
Transurban (USA) Development Inc., New York City
UBS Investment Bank, New York City
Vantage Point Associates Inc., Norwalk, Conn., and The Public Private Strategy Group, Philadelphia
Wachovia Capital Markets LLC, Charlotte, N.C.