According to his resume, KPMG employee Tim Wilschetz was paid to advise the “private consortia” bidding on the Indiana Toll Road in 2005. The following year the road was leased to foreign investors who, after doubling tolls for Indiana’s drivers, are now on track to default on their loans to finance the deal.
The project didn’t work out too well for Indiana either. By early 2012, six years after the lease was signed, the state had already allocated all of the money it received from the deal. Since they gave away control of the road, and all of its revenue, for 75 years, no more cash was on the way and they were right back where they started.
Privatization of the Indiana Toll Road was an unmitigated disaster for the state. But consultant Tim Wilschetz continued to fare pretty well.
As the state’s money quickly ran out, Wilschetz shifted gears and got a new job advising Indiana Governor Mitch Daniels on other toll road and public-private partnership endeavors, including bridges that will charge state residents new tolls to commute between Indiana and Kentucky.
As we wait for the results of Kasich’s $3.4 million study of the Ohio Turnpike to be revealed, it’s worth noting that the SAME guy, Tim Wilschetz, toll road troubadour and public/private partnership panderer extraordinaire, is leading the study for KPMG on Ohio’s turnpike.
If Wilschetz’s past is any indicator, we can expect a very similar, and similarly disastrous, plan in our state.