Septa to shut down all weekend service

[Deeko]

This is probably a repost, but the search function seems to be broken, so i'm posting it anyway.

http://www.septa.org/news/press_releases/090904.html

 

[y2kc]

This is how they extort the state to fund their mishandling of funds. They do the same crap over and over. They go to the press threatening "drastic cuts in service", the public gets outraged and voila', they are bailed out again.

And in the end, they raise fares anyway.

septa's a joke.

 

[Scouzer]

Annual Operating Budget Results (in millions)
1997 Expenses - $685.8; Revenue & Subsidies - $685.9; Net - $0.1
1998 Expenses - $673.7; Revenue & Subsidies - $673.9; Net - $0.2
1999 Expenses - $687.9; Revenue & Subsidies - $685.9; Net - ($2.0)
2000 Expenses - $713.3; Revenue & Subsidies - $714.2; Net - $0.9
2001 Expenses - $783.2; Revenue & Subsidies - $783.5; Net - $0.3
2002 Expenses - $816.4; Revenue & Subsidies - $817.0; Net - $0.6
2003 Expenses - $843.1; Revenue & Subsidies - $843.4; Net - $0.3
2004 Expenses - $867.8; Revenue & Subsidies - $868.0; Net - $0.2

FY 2006 - 2010 Projections
(Amounts in Millions of Dollars)
Without a subsidy source having growth potential, deficits continue to grow

FY 2006 Annual Deficit - (92.2)
FY 2007 Annual Deficit - (131.0)
FY 2008 Annual Deficit - (180.5)
FY 2009 Annual Deficit - (234.7)
FY 2010 Annual Deficit - (295.8)



HUH? Those numbers make NO SENSE...

 

[Deeko]

I don't understand how they rack up these debts. They've been taking out more and more loans every year, and the interest on those loans is catching up to them...but still, I just don't understand how you can be THAT fiscally irresponsible. I mean, this organization gets state/city funding, AND already has pretty damn high rates. How can they lose that much money???

 

[FFactory0x]

screw the transit. I use the trolly for work every day. Its bs there rasing fairs!! Im just gonna go down and buy 500 tokens beforce the price hike

 

[y2kc]

Originally posted by: Deeko
I don't understand how they rack up these debts. They've been taking out more and more loans every year, and the interest on those loans is catching up to them...but still, I just don't understand how you can be THAT fiscally irresponsible. I mean, this organization gets state/city funding, AND already has pretty damn high rates. How can they lose that much money???

they know they're gonna get bailed regardless. it's criminal.

 

[Doggiedog]

Originally posted by: Scouzer
Annual Operating Budget Results (in millions)
1997 Expenses - $685.8; Revenue & Subsidies - $685.9; Net - $0.1
1998 Expenses - $673.7; Revenue & Subsidies - $673.9; Net - $0.2
1999 Expenses - $687.9; Revenue & Subsidies - $685.9; Net - ($2.0)
2000 Expenses - $713.3; Revenue & Subsidies - $714.2; Net - $0.9
2001 Expenses - $783.2; Revenue & Subsidies - $783.5; Net - $0.3
2002 Expenses - $816.4; Revenue & Subsidies - $817.0; Net - $0.6
2003 Expenses - $843.1; Revenue & Subsidies - $843.4; Net - $0.3
2004 Expenses - $867.8; Revenue & Subsidies - $868.0; Net - $0.2

FY 2006 - 2010 Projections
(Amounts in Millions of Dollars)
Without a subsidy source having growth potential, deficits continue to grow

FY 2006 Annual Deficit - (92.2)
FY 2007 Annual Deficit - (131.0)
FY 2008 Annual Deficit - (180.5)
FY 2009 Annual Deficit - (234.7)
FY 2010 Annual Deficit - (295.8)



HUH? Those numbers make NO SENSE...

The top is operating. It looks like they break even on an operational basis but they probably have lots of non-operating stuff like debt payments, pensions, etc. Those debt and pension payments can be a killer.

 

[SoylentGreen]

All of these metro area transit companies are run poorly.

8 fscking dollars to cross a bridge here.

 

[Doggiedog]

Originally posted by: SoylentGreen
All of these metro area transit companies are run poorly.

8 fscking dollars to cross a bridge here.

I used to work in public finance so I've seen a lot of the stuff that goes around.

For the transit organizations, bus and train service is a huge money loser for them. They offset the losses in transit with tolls from bridges, tunnels and highways. The initial outlay of money for those projects is high but once they are built its a cash cow because the cost of maintenance and labor is very low compared to a transit system.

So basically, they ream you on the tolls to make up for the train and bus service.

 

[Goosemaster]

Originally posted by: Doggiedog

Originally posted by: SoylentGreen
All of these metro area transit companies are run poorly.

8 fscking dollars to cross a bridge here.

I used to work in public finance so I've seen a lot of the stuff that goes around.

For the transit organizations, bus and train service is a huge money loser for them. They offset the losses in transit with tolls from bridges, tunnels and highways. The initial outlay of money for those projects is high but once they are built its a cash cow because the cost of maintenance and labor is very low compared to a transit system.

So basically, they ream you on the tolls to make up for the train and bus service.

Yeah..t.what they do to people who cross the Verrazzao in NY should be downright illegal...


$6 fvking dollars..yeah..fvk you too NY:|

 

[Doggiedog]

Originally posted by: Goosemaster

Originally posted by: Doggiedog

Originally posted by: SoylentGreen
All of these metro area transit companies are run poorly.

8 fscking dollars to cross a bridge here.

I used to work in public finance so I've seen a lot of the stuff that goes around.

For the transit organizations, bus and train service is a huge money loser for them. They offset the losses in transit with tolls from bridges, tunnels and highways. The initial outlay of money for those projects is high but once they are built its a cash cow because the cost of maintenance and labor is very low compared to a transit system.

So basically, they ream you on the tolls to make up for the train and bus service.

Yeah..t.what they do to people who cross the Verrazzao in NY should be downright illegal...


$6 fvking dollars..yeah..fvk you too NY:|

One way or two way?

The Tri-borough is something like $7.50 one way. And to add insult to injury, one time after paying with EZ Pass that stupid arm blocking the toll went up and as I went through came crashing down on my SUV. No one helped me so I ended up driving through and ripping it off. When I got home, I had 4 dents on my roof and tons of scratches on my hood.

fvk you too NY!

 

[Goosemaster]

Originally posted by: Doggiedog

Originally posted by: Goosemaster

Originally posted by: Doggiedog

Originally posted by: SoylentGreen
All of these metro area transit companies are run poorly.

8 fscking dollars to cross a bridge here.

I used to work in public finance so I've seen a lot of the stuff that goes around.

For the transit organizations, bus and train service is a huge money loser for them. They offset the losses in transit with tolls from bridges, tunnels and highways. The initial outlay of money for those projects is high but once they are built its a cash cow because the cost of maintenance and labor is very low compared to a transit system.

So basically, they ream you on the tolls to make up for the train and bus service.

Yeah..t.what they do to people who cross the Verrazzao in NY should be downright illegal...


$6 fvking dollars..yeah..fvk you too NY:|

One way or two way?

The Tri-borough is something like $7.50 one way. And to add insult to injury, one time after paying with EZ Pass that stupid arm blocking the toll went up and as I went through came crashing down on my SUV. No one helped me so I ended up driving through and ripping it off. When I got home, I had 4 dents on my roof and tons of scratches on my hood.

fvk you too NY!

Yep...the only city where even the inanimate objects are bigger assholes than you've ever met...