McAuliffe frustrated with losses at Virginia Port Authority

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Associated Press

Posted on April 7, 2014 at 7:26 AM

NORFOLK (AP) — Gov. Terry McAuliffe says he's not going to tolerate continuing losses at the Virginia Port Authority.

McAuliffe says he plans substantial changes at the authority's board. He also has asked Virginia Transportation Secretary Aubrey Layne to determine whether the authority's 20-year lease of APM Terminals' Portsmouth facility can be renegotiated.

The Virginian-Pilot reports that the governor criticized the port's performance during an address last week at a Hampton Roads Chamber of Commerce gathering.

McAuliffe ordered a review of the port's finances in January. He told the chamber gathering that the port has lost $120 million over the last five years.

Eleven of the board's 13 members are appointed by the governor. Former Gov. Bob McDonnell replaced 10 members in 2011.

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Information from: The Virginian-Pilot, http://pilotonline.com

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