OT: "We're Broke" - BART
51 million; that's how much the BART agency is estimating its deficit for 2004. This comes after 563 layoffs and fewer trains to lower operating costs.
This is the real kicker: "...and similar or bigger deficits for each of the next 10 years." - Oakland Tribune. So basically, BART is not projected to break even or have a surplus. Hmm. That can't be good, can it? While the labor union is saying that the majority of waste is via management and contractor issues, BART is projecting it's loses based solely on the increase of labor costs.
Two questions remain, how are these cost-of-living projections made and will there be a ballot initiative/state request for additional funds? This situation impacts Oakland and San Jose because any new site that is away from the coliseum will need BART access and if the funds are being diverted just to keep the agency afloat, then it's a major damper on keeping the A's in the Bay Area.
This is the real kicker: "...and similar or bigger deficits for each of the next 10 years." - Oakland Tribune. So basically, BART is not projected to break even or have a surplus. Hmm. That can't be good, can it? While the labor union is saying that the majority of waste is via management and contractor issues, BART is projecting it's loses based solely on the increase of labor costs.
Two questions remain, how are these cost-of-living projections made and will there be a ballot initiative/state request for additional funds? This situation impacts Oakland and San Jose because any new site that is away from the coliseum will need BART access and if the funds are being diverted just to keep the agency afloat, then it's a major damper on keeping the A's in the Bay Area.
posted by Genaro at 1:59 AM
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