The Department of Transportation announced that is it pulling the plug on a $929 million-dollar project in California. A high-speed rail aimed to connect Los Angeles to San Francisco was canceled due to price and the time commitment involved. The Federal agency claims that the State of California didn’t show signs of reasonable progress and will seeking to retrieve around $2 million that has already been disbursed for construction of the rail system.

Until Next Time, 

**Written by Benjamin Derge, Administrative Associate. The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Serving Those Who Serve is not a registered broker/dealer and is independent of Raymond James Financial Services.

High-Speed Rail