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Transit authority plans to question Ansaldo about finances

By Gene Park

LAST UPDATED: 02:29 p.m. HST, Aug 25, 2011

The Honolulu Authority for Rapid Transportation wants the winning rail car contractor to answer questions about the company’s financial stability.

Board members agreed the company should appear before the authority, but did not set a date for the appearance.

Questions about Ansaldo Honolulu’s finances arose after its parent company, Italian conglomerate Finmeccanica, said it wants to restructure or sell AnsaldoBreda, one of the partners that make up Ansaldo Honolulu. 

For now the city is moving forward to execute a contract with Ansaldo Honolulu. The rail agency is waiting for the company to put up bonds as part of the procurement process, said interim HART Executive Director Toru Hamayasu at today’s board meeting in Kapolei Hale.

U.S. Sen. Daniel Inouye also made an appearance before the board, and offered words of encouragement.

“I’ve been in this political business for over half a century,”?Inouye told the board. “And I find that it’s very easy to oppose. It’s much more difficult to be for something. Because you gotta stand up and take a lot of crap.”

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HonoluluHawaii wrote:
If I were to buy a house from somebody, or to sell a house to somebody, or to rent an apartment to somebody, I think I would look into a person's finances. Why did it take so long for HART to go ahead with this inquiry? Because HART thinks that the few and the proud need work? I think work will be created outside of Honolulu, more than here at ground zero. If there is any chance of a scam going on, I think at the least the yellow light is on, and maybe ready to turn to RED. You guys at HART are getting duped, if you ask me.
on August 25,2011 | 02:06PM
butinski wrote:
Well it's about time for HART to start worrying about the stability of Ansaido Honolulu. The rest of Hawaii citizens are. As for Senator Inouye's comments, what else can he say since he has advocated "rail" from day one. The whole project is beginning to smell worse than the Sand Island sludge, especially after new subcontracts are being awarded to companies with family ties.
on August 25,2011 | 03:29PM
saywhatyouthink wrote:
These HART members are only concerned about their own interests, they could care less about the taxpayers or wasting money. They're all politically connected people with no experience whatsoever in mass transit, worse yet most of them have conflicts of interest because they are connected to or employed by developers, contractors or unions. Now... Whose interests to you think they will represent?
on August 25,2011 | 06:05PM
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