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Kate Linebaugh: And Boring was making headlines with plans to make tunnels in major cities around the country, like LA, New York, Chicago, Las Vegas. But after six years, only one of those projects has happened, and Ted dug in to try to find out why. Okay. And will this episode be boring?Kate Linebaugh: Welcome to The Journal, our show about Money, business and power. I'm Kate Linebaugh. It's Thursday, December 8th. Coming up on the show, what The Boring Company says about Elon Musk.
Janice Rutherford: The potential price tag on the light rail system was going to be about a billion dollars, and that was the starting number. Costs always go up from there. So it was a huge, huge amount. So we were exploring those ideas and figuring out what we could do when our chairman was approached by The Boring Company with this idea of, "Hey, let's put it all underground."
Janice Rutherford: Well, your reservation is, this is brand new. How comfortable are people in Southern California earthquake country going to be getting in a tunnel? And can it really be delivered for $50 million?Janice Rutherford: You put Elon Musk's name with something, there's a certain sexiness to it that makes people think, "Oh, he can get things done." So even though it seems like a fantastical idea to us, if Elon says it, he's going to find a way to make it happen.
Ted Mann: Well, the people who run the convention center say it's very useful. They spent $50 million on it and they say they like it and that it really helps. It is a giant convention center, and so that is a good way to get from one end of it to another. They're planning to connect more of the casinos that are right on the strip to the convention center. They see this as a major attraction.
Janice Rutherford: This is California. We have a lot of very detailed, complex environmental hurdles that have to be cleared. Our typical contract for a design build with a company is about 1,500 pages, a lot of lawyers involved. And the Boring team was not interested in a 1,500-page contract. And as our staff started to work with them on those details, they weren't willing to put a lot of meat on the bone. They wanted something a lot less detailed and a lot simpler.Janice Rutherford: No.
thetrough See the left just hates this country
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