New Chicago Skyway owners need long investing view

November 16, 2015

Ferrovial and Macquarie paid $1.8 bln in 2005, $1 bln more than the next bid. Now three Canadian pension funds are buying the Windy City turnpike for $2.8 bln. Thanks to extra debt, the sellers won’t see much profit on their equity. At least the buyers can afford to be patient.

Rob Cox: Can we Grand Bargain before going bust?

May 29, 2014

Kumbaya has broken out in Detroit: Michigan’s legislature, the UAW and even JPMorgan are chipping in to help the city emerge from bankruptcy protection. While good news, it’s also a sad comment on America’s broken political system that it takes so much failure to come together.