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State auditor issues financial warning on California bullet train

(Source: Los Angeles Times, January 25, 2012)

LOS ANGELES — California's $98.5-billion bullet train project has become "increasingly risky" because of uncertainty about where the money will come from to finish even the first phase, the state auditor warned Tuesday. The report found that the California High-Speed Rail Authority has made some progress in addressing planning and fiscal concerns but still has important work to do to ensure that the project can be built as promised.

Full story: Los Angeles Times

Wednesday, January 25, 2012

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