Today's BB: P3s in the Fast Lane?

Mixed signals from a House hearing on the Federal Transit Administration's "Penta P" public-private partnership initiative -- on the one hand, potential projects are lining up:  The agency has already received 4 applications for a potential 3 slots.  On the other, Rep. Peter Fazio, D-OR, says: “I am not convinced that the private sector has an inherent ability to provide goods and services more quickly, efficiently, or for less money than the public sector."

Meanwhile, public-authority reform rises on NY Gov. Spitzer's agenda.  Details are sketchy, but could include modifying New York's all-important "Public Authorities Control Board," a three-member panel controlled by the Governor, the Assembly Speaker, and the Senate Majority leader that must vote unanimously to approve any bonding (or other major initiative) by the state's hundreds of authorities.

Spitzer tied the initiative back to more than three years of work by corporate attorney Ira Millstein and his New York Commission on Public Authority Reform.  The fact that overlapping board terms will prevent Spitzer from putting his stamp on many authorities for several years couldn't hurt his enthusiasm, either.