|
|
| Re: NYC Rail networks—bursting at seams? (1352817) | |||
 |
|||
| Home > SubChat | |||
|
[ Read Responses | Post a New Response | Return to the Index ] |
|
||
|
Re: NYC Rail networks—bursting at seams? |
|
|
Posted by WillD on Tue May 19 21:09:48 2015, in response to Re: NYC Rail networks—bursting at seams?, posted by Broadway Lion on Tue May 19 07:45:27 2015. Investors thought that they could make money when they built the IRT and the BMT,If by "investors" you mean those who bought the city's bonds, because the subway lines were built as what today would be a DBOM with city money. Investors didn't have anything to do with their construction other than buying bonds, same as today. but if I recall, it was another communist mayor who broke that up, profits *are* immoral you know. And it was a latter-day right winger who jacked the fare up to make the subway lines "profitable" so he could drive NYC's deficit into the stratosphere building highways. So now no investors. No, same financing plan as a century ago. Unless you subscribe to the fantasy that the BMT or IRT were shelling out their own money for the capital expenditure on subway lines, which again was not the case. Hell, back then the city even used a primitive form of the sort of tax increment financing used to build the 7 train extension. Would investors take over the system today, the fare would have to go to about $5.00. The operating expense per unlinked trip for the subway network is $1.79 as of 2013. If you're saying the private operating company would require a more than 100% markup to make operating the subway worth their while then it's a very good thing we had that "communist" mayor to create the IND so NYC wasn't hamstrung by such highway robbery. At least with investors, they will put their money up in hope of a return. Why? They never have in the past. Again, you're reinventing history to make it fit your narrative. The city paid for the subway lines, the BMT and IRT merely operated those lines. |
|
|
|