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Heritage Bankshares Inc. Message Board

  • barkingdog78 barkingdog78 Jul 17, 2013 8:50 PM Flag

    Tolls are back on the table

    The State Supreme Court has expedited the appeal and will hear it in September. They will rule the tolls are constitutional tolls ... almost certainly. It's really brilliant the way Heritage Bank planned around the tolls!

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    • Think now that tolls will actually help HBKS, because people at the Beach don't commute - so more business will move to the Beach: "Fewer than 40 percent of working Virginia Beach residents commute to work outside the city limits, according to data from the Census Bureau's 2010 American Community Survey. In Portsmouth, by contrast, more than half of the working population travels elsewhere."

    • Definitely won't hurt ... and might actually help HBKS:

      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 ... and it's probably a long way down the road.

      Tolls will probably shape future expansion ... stay on one side of the water, they can't really impose a high toll on you.

      Could help buyout potential ... banks will want to bulk up on the Norfolk and Va. Beach side of the water ... that's where the future growth is.

 
HBKS
15.500.00(0.00%)Jul 10 3:20 PMEDT

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