PISA, ANYONE? No doubt you have probably heard of our 58 story sinking and leaning tower next door. One of the things I want is for the TJPA be absolutely transparent about what it knew, when it knew it, and who it told about the problem. Already it has taken a big step toward that as you might tell from our press releases to date: http://transbaycenter.org/news-information/press-room/press-releases
At the next TJPA board meeting though, I intend to propose that the TJPA take a further step by making available on its website every single document that it delivers or discovers through the litigation or in response to a Freedom of Information Act request. The TJPA is a public agency, so what it knows or discovers, the public should be able to easily discover. The process of discovery, and fights over discovery, is what drags litigation out. I’ m hoping that by making everything known early, the litigation might end sooner. Fortunately for the TJPA, between its contractual indemnification rights and its own liability insurance, whatever happens it is well protected.
It may be though that if most of the liability cannot be pinned on others, some group of investors are looking at hundreds of millions of dollars in financial exposure, with much of that uninsured. For them, if bankruptcy is foreseeable, the litigation costs are minor in comparison to those loses, so ala-Trump they may choose to litigate for a long time before conceding.