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Heritage Bankshares Inc. Message Board

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  • barkingdog78 barkingdog78 Mar 27, 2012 5:08 PM Flag

    Tunnel/Road Tolls might help HBKS

    All the best stuff is on the Norfolk side ... tolls will kill Portsmouth.

    Tolls say:

    Short TowneBank ... long Heritage.

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    • From Va.-Pilot:

      "A bigger concern to investors was how many people will try to avoid the tolls when they start. Standard & Poor's predicted average annual daily traffic will initially fall by 44 percent before it begins to rise again, compared with the 28 percent drop-off predicted by Elizabeth River Crossings. However, the ratings agency noted that the developer has a $50 million line of credit to cover lower-than-anticipated toll revenues.

      The analysts also counted as a strength the fact that the tunnels are heavily used by commuters and that few convenient alternatives exist.

      "Other options really aren't viable, given the extra time constraints," an analyst said during Fitch Ratings' conference call."

      HOW ABOUT ... STAY IN NORFOLK/VA BEACH!!!!

 
HBKS
14.750.00(0.00%)Oct 13 9:32 AMEDT

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