Futures and now derivatives have been used as hedges by farmers and other business interests to lock in prices of their goods. Unlike futures and derivatives used for speculation on the price of the commodity etc increasing or decreasing - hedging is used to put a collar around prices as an ‘insurance premium’ against wild fluctuations of prices which could hurt the farmer/business person.
One can only wonder, in an audit of RTD’s management of Fast Tracks if these hedges were employed and if so to what extent to minimize the impact of price fluctuation on this $1.2+ billion overrun characterizing Fast Tracks as the ‘Big Pig’ (in deference to the Big Dig).
If not, or placed incompetently, then the onus is on Mr. Marsella’s tenure as well as the board’s for it’s oversight failure.
I am for mass transit - but against mass incompetence. This letter has not been edited.