Meanwhile, the CAHSR Authority revealed the bidding prices for the first leg of the project. The joint venture Tutor Perini / Zachry / Parsons came in with a $985 million bid. The highest bid came from California High Speed Ventures (a joint venture of Kiewit Infrastructure West and Granite Construction) at $1.54 billion. Officials estimated that the first leg of construction, from Fresno to Madera, would cost between $1.2 billion and $1.8 billion. The Reason Foundation will have none of that, however, as their own analysis states that (surprise, surprise) the project will cost more to build, take longer to travel upon completion and require operating subsidies from taxpayers.