Boomers Should Love Transit
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- čas přidán 3. 03. 2022
- Prep Work/P3s: How governments lost the ability to manage infrastructure projects until old money came up with a solution
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References & Sources
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[1] rem.info/en/news/south-shore-...
[2] www.herrenknecht.com/de/refer...
[3] www.railjournal.com/signallin...
[4] www.robbinstbm.com/projects/g...
[5] journal.hep.com.cn/fem/CN/art...
[6] www.structuremag.org/?p=10604
[7] www2.deloitte.com/global/en/p...
[8] www.policyalternatives.ca/sit...
[9] columbiainstitute.eco/researc... “A recent 2018 report by the Columbia Institute confirmed the higher costs of P3s”
[10] www.institutionalinvestor.com...
[11] www.cdpq.com/en/about-us/history
[12] www.on-sitemag.com/infrastruc...
[13] www.legisquebec.gouv.qc.ca/en...
[14] Initial: rem.info/en/partners www.on-sitemag.com/infrastruc... $6.3bn Q $1.283 C $1.283 HQ $0.295, Caisse: $3.439bn (91.3%)
2019: www.newswire.ca/news-releases... $6.5bn (94.2%)
2021: montreal.ctvnews.ca/rem-light... $6.9bn (100%)
[15] montrealgazette.com/news/loca...
[16] montreal.ctvnews.ca/rem-light...
[17] plus.lapresse.ca/screens/e5f1...
love this series so far!
Good moment for a plug Bill M!
The next part and many hours of extra content are up on patreon: www.patreon.com/lovesmontreal
Because I do videos about these niche topics that won't get lots of advertising revenue, Patreon is basically my only way to make this work.
Hi Paige. I know that these videos take a long time to make and you're probably really busy with your personal life but still manage to creat such quality content. So I wanted to say thank you for the work and to keep your head up, you're at 6k now but will be 6m before you know it.
Thanks, the subs are nice but I do it for the cause and I do OK. I'm grateful that anyone actually wants to hear me prattling on.
Perfect time to bring up the REM is anytime someone complains about gas prices
Elderly people in Montreal love the transit system. You can get to anywhere you want without needing to drive, or walk the entire way.
Loss of institutional knowledge is a really important point as it is not having the experts to rely on that increases project costs, reliability, and duration. Hopefully, as locales across North America invest more into transit, we can have that foundation of knowledge and expertise to build upon.
What a cliffhanger!
The unique position of the Caisse is an aspect of the REM I never thought about until I actually looked out into how it was financing the project.
Thanks Paige. Your mission to promote this "boring finances story" into the front pages and stall Nimbys all over the island of Montreal (and beyond) is well under way! Keep up the good fight.
really appreciate the choices of music
Thanks, I wanted to get across how intense the story of getting these megaprojects built is and music seemed like a good way to do it.
@@PaigeMTL what is the song at the beginning?
Love your work, as always.
My favourite example of a horrible P3 deal, Highway 407 in Ontario.
It would be cool to hear some good examples of P3's, other than the ones still in construction.
I think the most interesting P3s are actually the original subway lines in New York and London. It’s interesting to me that this thing that seems modern is actually just a rebranding of the way things used to be done.
The privatization of the 407 is an even bigger topic and scandal than the P3 model - it's its own shameful blunder
1:22 Oh hi Paige
can't wait for Episode V: The CAQ Strikes Back
This makes me regret even more the removal of CDPQ for the "Rem de l'est" ...
oh boy I wish the gov would just have financed the extra cost of putting the downtown section underground....
I would love to know if we could do anything like this in Australia.
Yes. In fact the CDPQ's first attempt to export the model was next door: pensionpulse.blogspot.com/2020/06/cdpq-infra-derailed-in-auckland.html
Wow how exiting!
Good video, agree with most of this, but I think it's also worth noting that another issue with P3s is that by offloading part of the risk onto the private sector they will want to raise prices to offset that, which is perfectly understandable, but it does mean that it can cause some cost inflation, which is...really not what we need. But then again, maybe the state of our...state capacity is just so dismal that we kinda need to look anywhere.
Enjoy your analysis of a Public Public Partnership, and you’re absolutely right - the Caisse is helping to enrich society. Let’s hope this model keeps its momentum going! Great work :)
Good explanation and great choice of music!
The biggest thing I disagree with is not even linked to the topic of the video. 6:07 "We live in a democracy..." Not when we still have first-past-the-post voting and not many other ways for average citizens to participate in politics...
Not only that; will such issue (bad deal or bad management of the REM) determine how/who people vote for, and even then, what impostance the issue will be given even if it's in the winning party platform.
Hey Paige, just wanted to say thanks for all the great videos you make! They’re some of my favorite content about Canada on CZcams.
Another great video! Really loving this series thus far.
Woah what the heck is that intro track, I love synthgaze
good content, you're getting better
Awesome video
This is a great video. I learned a lot about REM. Keep up the good work!
Don’t quite get the title. But good video!
7:43
Great vid
Wil you talk about "REM B" (east-end) and "REM C" (Taschereau)? And do you think the Caisse will accept to extend REM B to Lachine like Valerie Plante initially wanted?
Yep, that’s shows up in the 4th part of the series. I suspect the Lachine section won’t work for the REM because tunnelling would cost too much and the viaducts would burn too much political capital. They’re more focused on South Shore and Laval now. I think it’s one of the places where a tram or BRT is the most likely choice if the mayor wants to “technically” meet her objective.
Great video, one think to point out is that the REM is still a public-PRIVATE P3, because the Caisse still has contracts with a consortium of private engineering/construction firms to build, operate, and maintain the system.
All large infrastructure projects have a consortium, eg the new Champlain bridge. But that bridge is not a P3.
P3s are defined by their long term financing agreement/arrangement not the contractors involved in construction.
"Gommunist Gina"
Who does the song at the end?
Great channel, ran across your winter biking video and liked it, so subscribed. Thank you!
Montreal's new rapid transit will be called REM? Will they have a Driver 8, and will Driver 8 take a break, or will they be on the trip too long, still a ways away? As someone that grew up in the 80s, this excites me greatly. 😆
You need to work on your Trump impression bro 🤪❤️