High-speed rail derails in Wisconsin

The loss of a total of $810 million in high-speed rail funds in Wisconsin means the promise of thousands of new jobs will not be realized.

1 of 6
BACKNEXT
$1.2 billion in rail funds goes to other states
In Watertown, Wisconsin, Mayor Ron Krueger stands at the spot where a proposed train station was to be built and looks down the track for a high-speed train that will never arrive.

The U.S. Transportation Department took a combined $1.2 billion in funding for high-speed rail away from Wisconsin and Ohio and redirected it to 13 other states.

The federally funded project was canceled this month thanks to a difference of opinion between the Transportation Secretary and Wisconsin's Republican governor-elect. Proponents of high-speed rail claimed it would result in economic growth but the governor-elect said the state would be left with the bill for annual operating costs.

NEXT: Boosting commerical rail traffic
Last updated December 16 2010: 4:36 PM ET
More Galleries
15 top executives with $1 salaries Some CEOs and founders agree to salaries of just $1 a year. But once goodies like bonuses and stock options are added in, some of those executives end up taking home many millions of dollars a year. More
Mercedes SL65 AMG: 621 horses of topless power Turn heads as you blow by traffic in this roadster convertible from Mercedes. More
Where the middle class is most unequal CNNMoney looks at the five states with the biggest differences in middle class incomes. More

Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.