California rail CEO seeks state backing for investors

California's high-speed rail project needs state backing to attract private investment, according to the new CEO, Ian Choudri, to secure funding for the project. Choudri is urging the state to guarantee repayment to private investors, potentially with interest, to secure the project's future amid rising costs and delays. The project, initially approved in 2008, has faced significant setbacks, with costs exceeding $100 billion. The project aims to connect San Francisco and Los Angeles with high-speed rail, but construction is far behind schedule. Critics question the project's viability, while supporters hope for its completion to reduce travel times and emissions.