European Stars and Stripes (Newspaper) - August 21, 1994, Darmstadt, Hesse Sunday August 21, 1994 the stars and stripes Page 13 the French Tiv train seen in France is not Likely to be seen crossing Texas because a franchise for the project has been revoked. Texas derails Bullet train plan franchise owner forfeits Deal after financing fails Austin Texas a the Texas Bullet train reached the end of the line Friday As a state Board revoked the franchise for a 200 Mph Railroad. The Texas High Speed rail authority ended More than two years of re search and preparation by approving a settlement with Texas Tiv corp., which failed to raise $170 million in Early financing for the $8.4 billion project. This has been a Noble Experiment said authority Board member Jim no gent. This Experiment is at an end. We need to terminate it wrap it up move it out and allow whoever else out there who thinks they might be inter ested in it an Opportunity to come for Board members decided against re Quiring Texas Tiv a French Ameri can company to pay a $2.5 million Bond for abandoning the project. Attorney general Dan Morales had said Texas was entitled to the Bond Money. But several Board members said they feared that insisting on it would cause a lengthy court fight and keep landowners along the train s route mired in uncertainty. I am concerned about the people that have had their land and their lives in limbo because of this. There is a value. To bringing this to an end said Board member David Bernsen. The project would have linked aus tin Dallas fort Worth Houston and san Antonio with Bullet trains similar to those in France offering some Relief to crowded interstate highways. Texas Tiv failed to meet a dec. 31, 1993, deadline for raising equity financing. Some experts said the project could t be built without Public funds. But state Law prohibited that. Texas Tiv chairman Glenn Biggs said the company would repay the almost $640,000 balance of a $1 million Cash and Vance approved by the legislature pro vide funds to keep the rail authority run Ning through August 1995, when it is merged into the Railroad commission and give the state research work it did Over the past 2vi years. Biggs said the company also would set aside $100,000 to finance seminars and other projects designed to Advance High Speed rail in Texas. While it is not yet widely under stood by the Public Texas faces grow ing gridlock of its highways and air ports that will Handicap our future growth and Prosperity Biggs said. Texas Tiv spent about $40 million in the Effort. The rail authority s 6-1 vote was applauded by the project s opponents Many of whom Are Rural residents who did t want the trains speeding across their land. I m glad you think this is a Noble Experiment. But i resent being your Guinea pig said Gail Randle of Geronimo. We spent thousands of dollars of our own Money thousands of hours of our own time to defend ourselves from the state of Texas she said that an Gers Sega planning 50 High tech theme Parks Tokyo a Sega enterprises plans to open up to 50 High tech theme Parks in the United states by the end of the Century a newspaper reported tues Day. Sega officials told the asian Wall Street journal that following the Success of its two existing theme Parks in Japan the company has been swamped with of fers from around the world to develop similar mini theme Parks. But they said Sega was most interested in focusing on the . Market where i already has 40 to 50 proposals for partnerships to build new Parks the report said. A week ago Sega announced plans for a similar High tech Park near Universal studios in los Angeles. The $25 million joint project with Universal Parent Mca inc. Will Combine Mca entertainment themes and characters with Sega exper Tise in virtual reality using film sound and moving theater seats or platforms to simulate actual motion. The report said Sega Hopes the mini theme Parks which feature both traditional video games and larger interactive rides will be a key contributor to near term growth partly because the Viteo game business has been in a slump. Bel South will pay to Settle a Case Washington a Bel South communications systems will pay the Federal government $840,000 to Settle allegations that it and a predecessor com Pany overcharged the department of veterans affairs for Telephone switches at a medical facilities the Justice department announced Friday. The predecessor company was univer Sal communications systems. Assistant attorney general Frank hunger of the civil division said Bell South did not pass discounts from the switch manufacturer on to the Vaas required by Law. The equipment was in stalled from 1986 through 1990. Mutual new York a weekly investing companies Glyta Tow High Low and last Nav for the week with the net change from the previous week1 last Nav. All quotations supplied by the National association of securities dealers inc., reflect net asset values at which securities could have been sold. 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