TriMet pumped millions of dollars into a shaky Colorado company in recent months, keeping it alive despite mismanagement so it could finish the agency’s new commuter rail cars.
The agency handed $5.5 million to the nearly bankrupt Colorado Railcar Manufacturing on top of $17 million awarded to the company for four specialized cars. TriMet expected to easily reclaim $3 million of the extra payments, but a court fight jeopardizes that hope.
The mess explains in part why TriMet is late launching its new westside commuter service, and it shows what can happen when a public agency makes a risky choice to do business with an unproven vendor.
Full story is HERE.
The agency handed $5.5 million to the nearly bankrupt Colorado Railcar Manufacturing on top of $17 million awarded to the company for four specialized cars. TriMet expected to easily reclaim $3 million of the extra payments, but a court fight jeopardizes that hope.
The mess explains in part why TriMet is late launching its new westside commuter service, and it shows what can happen when a public agency makes a risky choice to do business with an unproven vendor.
Full story is HERE.
