http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/ The Latest in Retail, Entertainment, and Development in Raleigh Mon, 06 Oct 2008 04:59:35 +0000 http://wordpress.org/?v=2.6.1
http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5964 Ken Metzger Fri, 03 Oct 2008 12:59:43 +0000 http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5964 Dana, I thought the point was that NYC's system was in the red. That system supports everyone. If people believe that it will break-even then they are uninformed or mislead. I agree that trains are marketed at the middle class, but that still doesn't really matter. EVERY public transit system runs in the red, or else private companies would be running their own buses and trains to get in on the profits. Locally, I do believe we will need a train system in the future. It will need good local systems to support it, and shuttles running from the major employers in RTP (Glaxo, IBM, RTI, Bayer, EPA). The key is to a great system is being multimodal, and a well planned train system could be a key component.
Dana,
I thought the point was that NYC’s system was in the red. That system supports everyone. If people believe that it will break-even then they are uninformed or mislead.
I agree that trains are marketed at the middle class, but that still doesn’t really matter. EVERY public transit system runs in the red, or else private companies would be running their own buses and trains to get in on the profits.
Locally, I do believe we will need a train system in the future. It will need good local systems to support it, and shuttles running from the major employers in RTP (Glaxo, IBM, RTI, Bayer, EPA). The key is to a great system is being multimodal, and a well planned train system could be a key component.
http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5907 Ken Thu, 02 Oct 2008 23:34:39 +0000 http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5907 New York City transit runs at a farebox recovery ratio (a measure of fare revenues versus operating expenses) of 80 percent or higher, a figure which most transit systems do not come close to approaching. The MTA's financial woes stem from capital debt accumulated when the system had to dig itself out of a state of near collapse caused by systematic disinvestment in the 60s and 70s. These capital expenditures were funded by debt instruments because Albany, which controls the purse strings for the MTA, refused to step up to the plate. What's the alternative? Twenty new bridges and tunnels for cars? New York's highways are in no great shape either, if you've had occasion to drive them lately. While $900 million is a lot, remember that the New York Metro area accounts for one-third of all transit trips in the nation. Average weekday riders total 8.5 million, and the annual MTA budget is 10.8 billion.
New York City transit runs at a farebox recovery ratio (a measure of fare revenues versus operating expenses) of 80 percent or higher, a figure which most transit systems do not come close to approaching. The MTA’s financial woes stem from capital debt accumulated when the system had to dig itself out of a state of near collapse caused by systematic disinvestment in the 60s and 70s. These capital expenditures were funded by debt instruments because Albany, which controls the purse strings for the MTA, refused to step up to the plate.
What’s the alternative? Twenty new bridges and tunnels for cars? New York’s highways are in no great shape either, if you’ve had occasion to drive them lately.
While $900 million is a lot, remember that the New York Metro area accounts for one-third of all transit trips in the nation. Average weekday riders total 8.5 million, and the annual MTA budget is 10.8 billion.
http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5900 Dana Thu, 02 Oct 2008 22:24:02 +0000 http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5900 Ahh, but see, the planned TTA train is NOT about moving the "bottom brackets". It's being sold as a way of relieving white-collar traffic on I-40 to RTP, and doesn't serve poor neighborhoods at all. Buses do. So the hey-it-helps-the-poor-it-doesn't-matter-how-much-it-costs argument is moot.
Ahh, but see, the planned TTA train is NOT about moving the “bottom brackets”. It’s being sold as a way of relieving white-collar traffic on I-40 to RTP, and doesn’t serve poor neighborhoods at all. Buses do. So the hey-it-helps-the-poor-it-doesn’t-matter-how-much-it-costs argument is moot.
http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5884 Ken Metzger Thu, 02 Oct 2008 19:36:12 +0000 http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5884 That is what taxes do? Legislators are often not in favor of the costs of transit being completely paid for by fares, because it is a disproportionate fee. It does not charge people with more money proportionality (actually charges the bottom brackets more), because they use a public system more. That is why the revenue is usually made up with a sales tax, property tax, or income tax. Every transit system runs in the red. It is whether or not one thinks public transportation, including trains, benefits the population as a whole.
That is what taxes do?
Legislators are often not in favor of the costs of transit being completely paid for by fares, because it is a disproportionate fee. It does not charge people with more money proportionality (actually charges the bottom brackets more), because they use a public system more. That is why the revenue is usually made up with a sales tax, property tax, or income tax.
Every transit system runs in the red. It is whether or not one thinks public transportation, including trains, benefits the population as a whole.
http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5875 Dana Thu, 02 Oct 2008 17:15:16 +0000 http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5875 One of the big points never mentioned by pro-rail people is the incredible cost structure associated with rail systems. Construction has been the only point debated with the TTA's plans. People assume operations will be in the black. However if a city like New York (and there are MANY, MANY, MANY more examples of this) cannot make ends meet, then why do we want to jump in? The current financial crisis is seeded in bad finance. "Oh it'll work out" thinking got us here, and it's exactly what is going on with rail proponents. They call rail transit "smart". Is it really smart if it runs staggering deficits? You have to cover costs, whether it is with a subprime mortgage or with a transit system.
One of the big points never mentioned by pro-rail people is the incredible cost structure associated with rail systems. Construction has been the only point debated with the TTA’s plans. People assume operations will be in the black. However if a city like New York (and there are MANY, MANY, MANY more examples of this) cannot make ends meet, then why do we want to jump in?
The current financial crisis is seeded in bad finance. “Oh it’ll work out” thinking got us here, and it’s exactly what is going on with rail proponents.
They call rail transit “smart”. Is it really smart if it runs staggering deficits? You have to cover costs, whether it is with a subprime mortgage or with a transit system.
http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5871 Jedidiah Thu, 02 Oct 2008 16:11:22 +0000 http://www.gogoraleigh.com/2008/10/02/nyc-joins-cash-strapped-transit-cities/#comment-5871 www.gogonewyorkcity.com ?