Months later, under new ownership by one of the world’s largest private equity firms and flush with federal military contracts, Vigor expressed concern about accepting risk in its first contract to build the new hybrid-electric boats. Ultimately, Washington State Ferries cut off negotiations when Vigor said the first ferry would cost more than $400 million — more than double the state’s estimate.

Private equity is why. There's no appetite to invest in it when there's easier money to be made elsewhere. There is crazy profit to be had in military contracts and little effective oversight vs. a relatively liberal government that might actually hold them accountable.

This is why our infrastructure is aging so poorly -- operators of privatized infrastructure will never value the externality of the public benefit, and the government's ability to enforce or promote that public benefit is basically nonexistent.

Inter-island ferry service is down in the San Juan islands because: ferry runs aground in San Juan Islands, out of service for repairs. I don't live there, but I do rely on WSF and service has been been getting steadily worse. With that said, I don't know how I feel about a shipyard from the gulf states building our ferries. I wish we could get international bids.