MagLev Gets Serious: The push to build a...
Wednesday, Jul 29, 2009 | Updated 7:18 AM PST
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The push to build a maglev system in Southern California to swoosh people and cargo around while floating on magnets has taken another large leap forward, reports the Long Beach Press-Telegram. The law firm of DLA Piper has been hired by the Orangeline Development Authority to raise $20 billion to fund the 108-mile maglev line that will run between Los Angeles and Orange County at a speed of 90 mph. "Revenue sources expected to offset capital costs include passenger fares - structured around a 20-hour day with lower rates outside rush hours - as well as cargo fees, station concessions and advertising. Fares have yet to be determined." [Press Telegram]
Posted Wednesday, Jul 29, 2009 - 7:04 AM PST
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