Heritage Bankshares Inc. Message Board
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Tunnel/Road Tolls might help HBKS
Definitely won't hurt ... neutral at worst:
You can drive to every HBKS branch without paying a toll.
More things are on Norfolk side.
Tolls might actually help Norfolk and Va. Beach, since more people and businesses will stay or move to the Norfolk side.
Unlikely toll will ever be imposed on I-264 ... it's not on the list of potential tolls.
Hampton tunnel toll could be a problem in the future, but HBKS doesn't have a surrounding area type of market base.
Tolls will probably shape future expansion ... stay on one side of the water, they can't really impose a high toll on you.
HBKS locations: Lucky or by design: Great planning!-
Plus they are adding $1.00 to the EZ-Pass monthly fee.
Even though tolls are delayed until 2014, everyone knows now that they are coming ... so plan accordingly. MOVE TO NORFOLK/VA. BEACH!- 1 Reply to barkingdog78
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Remember, if you don't have an EZ-Pass, they take a picture of your license plate; then mail you a bill. Then stick a big charge on it for mailing. MOVE TO NORFOLK/VA. BEACH NOW!!!!
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All the best stuff is on the Norfolk side ... tolls will kill Portsmouth.
Tolls say:
Short TowneBank ... long Heritage.- 1 Reply to barkingdog78
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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!!!!
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