Southern Connector now profitable. (Greenville: fit in, 2013, bankruptcy)

[g-man430]

It's actually making a profit finally: Southern Connector Claims Record Revenue Year - WSPA

[Sunbather]

Originally Posted by g-man430

It's actually making a profit finally: Southern Connector Claims Record Revenue Year - WSPA

You cannot tell from the article whether it could actually be considered profitable as a whole yet (which I am skeptical of, depending on the definition they are using). The only thing the article really said, which is still good news, is that 2013 had a record revenue. But the difference between revenue and overall profit in finance is HUGE (especially when just talking about the revenue from a single year...after a bankruptcy).

Keep in mind that I believe they were in debt close to $500 million (can't remember but that's the number sticking in my head) before dealing with all the bankruptcy. So a record profit of $7 million for a year, while better than the initial numbers they were pulling, is still not a success.

The project is still a great example of poor planning and a waste of money unfortunately (and is even cited in other states as an example of toll road execution failure).

[Carolina Knight]

The Southern Connector may be profitable, but I am yet to see initiative from Greenville County leaders for it to pay off. There is plenty of space in Moonville to bring in industry. No one has been aggressive enough to recruit industrial companies.