MTA Finances
MTA Statement On Budget Cuts
As I noted in the previous entry, I expected the MTA to release a statement on the approval of budget cuts by the Board today. Here is their statement: The Metropolitan Transportation Authority (MTA) Board today approved a package of service changes needed to help fill a nearly $800 million budget shortfall for 2010. The […]
MTA Approves Budget Cuts
Within the last couple of hours, the MTA Board officially approved budget cuts in order to trim down a $400M+ budget shortfall. Lets first take a look at a brief report by Michael M. Grynbaum of the New York Times: The board of the Metropolitan Transportation Authority voted 11-2 Wednesday afternoon to implement a package […]
Repeat Offender Still Owes MTA $18M
In May of 2009, I wrote an entry about an advertising company owing the MTA $7.5M. Flash forward to 2010 where a report in the New York Daily News exposes how the same company, Titan Outdoor Holdings (albeit under the name Titan Worldwide in 2009) now owes the cash strapped transit agency $18M. Pete Donohue […]
MTA To Gain Money From Budget Amendments
On the 21st of January, I wrote an entry about how the executive budget for fiscal year 2010-2011 unveiled by Gov. Paterson would short change the MTA $104 million. Fast forward to earlier today when the 21-day amendments to the 2010-11 Executive Budget were released which featured a net gain of $230M for the beleaguered […]
Bloomberg Questions Student Metrocard Cuts
Over the last few weeks, the MTA’s piss poor financial situation has been in the news. Staring down the barrel of even bigger issues, the agency has been working on different ways to cut down on costs. One of those plans called for the elimination of Student Metrocards. As one would expect, this plan has […]
