MTA Finances
MTA’s Global Bond Investments Backfired
Yesterday’s print edition of the New York Times contained a must read piece which talked about how global bond investments by the MTA & others have backfired. The piece focuses on bonds known as “Collateralized Debt Obligations” or “C.D.O.’s”. These bonds are considered an asset backed security/structured credit product. They come in the form of […]
MTA Schedules A Special Meeting
We all know by now that the MTA is in the midst of a huge financial crisis. Just how crazy have things been for the agency in terms of finances? Well chew on this, in February they projected the 2009 budget deficit to be $216 million. Then in July when MTA CEO/Executive Director Elliot Sander […]
Too Little Too Late Might Be The Story For The Ravitch Commission Report
This past June, I wrote an entry about New York Governor David Patterson appointing 12 members to the MTA Financing Commission. The commission which is headed by former MTA Chairman Richard Ravitch is known in most circles as The Ravitch Commission. Their goal was to recommend strategies to fund MTA capital projects and operating needs […]
370 Jay Street Has Become A “Blight On The Face Of Downtown Brooklyn”
B.B.P. Marty Markowitz & other borough leaders at today’s press conference on the MTA’s mishandling of the property in & around 370 Jay St. Photo courtesy of the Brooklyn Borough President’s Website. This strong statement was made by Brooklyn Borough President Marty Markowitz in response to the MTA letting their property at 370 Jay Street […]
Save Time & Money By Axing The Bus Fare?
Here’s an idea for the MTA, axe the bus fare on routes such as the M34 & M42 because it would speed up the commute & save money from the need of fewer buses to service the routes. Sound crazy? The Regional Plan Association sure doesn’t think so as they proposed the idea this past […]
