Influence of Bad day

 

The Eastlink M3 was opened on a bad day.
  
My previous article Openning of Eastlink M3 Freeway  mentioned about this. 
"In term of Chinese Astrology, the day uses to open a major road is not on a lucky day. The Earthly Branch of the day Clashes with the Earthly Brach of the Month. As a result it will attract trouble for the first 100 days."
One week later and this was on the news.
Source : The Age
Investors give EastLink a bypass
Clay Lucas
July 11, 2008
SHARES in Melbourne's newest private toll road have been hammered after the release of the first figures on traffic flows.
Despite 275,000 drivers a day using EastLink since it opened on June 29, the share price of owner ConnectEast dropped by 8% yesterday.
Shares closed at 98 cents — just over half their value late last year when construction of the $2.5 billion road was running months ahead of schedule.
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The traffic figures released yesterday showed the busiest section of the road has been between the end of the Eastern Freeway at Donvale and the Ringwood bypass, with an average 118,000 drivers a day.
ConnectEast said that on the basis of the figures, the average trip would have cost $2.61. The figure is theoretical as the road will be toll-free until July 26.
Toll roads that give drivers an introductory toll-free period usually have a 40% drop-off once they have to pay, industry experts say. This would mean about 160,000 motorists a day using the EastLink once tolls begin, fewer than the 235,000 predicted by ConnectEast when it floated in 2004 at $1 a share.
ConnectEast managing director John Gardiner said the company was pleased. "The community has welcomed the motorway's opening," he said, "and many people are taking the opportunity to sample the fuel and time savings EastLink delivers."

The Eastlink M3 was opened on a bad day.

My previous article Eastlink M3 Opens mentioned about this. 

"In term of Chinese Astrology, the day uses to open a major road is not on a lucky day. The Earthly Branch of the day Clashes with the Earthly Branch of the Month. As a result it will attract trouble for the first 100 days."

One week later and this was on the news.

Source : The Age

Investors give EastLink a bypass

Clay Lucas

July 11, 2008

SHARES in Melbourne's newest private toll road have been hammered after the release of the first figures on traffic flows.

Despite 275,000 drivers a day using EastLink since it opened on June 29, the share price of owner ConnectEast dropped by 8% yesterday.

Shares closed at 98 cents — just over half their value late last year when construction of the $2.5 billion road was running months ahead of schedule.

The traffic figures released yesterday showed the busiest section of the road has been between the end of the Eastern Freeway at Donvale and the Ringwood bypass, with an average 118,000 drivers a day.

ConnectEast said that on the basis of the figures, the average trip would have cost $2.61. The figure is theoretical as the road will be toll-free until July 26.

Toll roads that give drivers an introductory toll-free period usually have a 40% drop-off once they have to pay, industry experts say. This would mean about 160,000 motorists a day using the EastLink once tolls begin, fewer than the 235,000 predicted by ConnectEast when it floated in 2004 at $1 a share.

ConnectEast managing director John Gardiner said the company was pleased. "The community has welcomed the motorway's opening," he said, "and many people are taking the opportunity to sample the fuel and time savings EastLink delivers."