Passenger Trains > PATH loses $400 million per year - Yikes

The NY Times has an article about the situation faced by PATH. The Port Authority TransHudson Railroad connects Manhattan island with NJ. Thirteen station, loses $400 million per year on 82 million passengers.  By that accounting, it costs about $8 to carry a single passenger over a one way trip. Fare is under $3

The Port Authority parent is known for highly paid political hacks in senior jobs, and for outrageous expenditures.  Its $4 billion Oculus station in NYC is the most expensive station ever built, the article asserts. Even a station like Harrison will probably cost a half billion when completed.

No question PATH has spurred huge development around its stations, but PATH gets nothing from that.  The area around Harrison station is full of new construction


https://www.nytimes.com/2019/01/02/nyregion/path-train-nj-nyc.html

No one has ever been able to drill down into their finances, but I know people who have worked there that say they charge depreciation of buildings at JSQ and WTC to PATH's operating budget. It is merely a 13.8 mile subway system. $400 million makes no sense, There are no station agents. Their off-peak service frequency doesn't hold a candle to what the NYCT has, and those trains can be packed as well.

Operating losses, or total losses.   Like it says, they spend huge amounts of money needlessly, all political payoffs to construction companies, etc.
The PATH board is where u put friends who helped u get elected.  
Even if they say its operating losses, I wouldnt believe them for a second.  Im sure they are expensing stuff thats not operational.  They have to (try to) hide a lot of frivolous expenses somewhere.

Its a 13 station system that carries 225,000 people a day.  Youre gonna tell me that it costs over 700K A DAY to operate a 13 station subway system?  I doubt it.

IMHO, if the feds ever investigated PATH,  there'd be a lot of ppl going to prison. 

Look fellas, I am sure if you drill down farther you will find a address in NJ . I am sure that some of the losses are going to that address. The mob, mafia, union is getting a big cut. This is what happens in my union pay....

Posted from iPhone

Jimmy Hoffa is burried under the new Tony Soprano Memorial Harrison station.

If it has wings and / or rubber tires and loses money, it's no big deal.  If it has flanged wheels and loses money, it loses its right to exist and must be done away with immediately.  

That seems to be the mindset of this society and every lawmaker in Washington.  

Name one Airline with loses close to that getting subsidized by tax payers? I can name a couple Airlines that went belly up because they couldn’t cut it. Airlines pay a big chunk of money to Airports they fly in and out of. They should charge each passenger what it costs to run the DAMN railroad. $8.00 so be it.

Valleyman


CA_Sou_MA_Agent Wrote:
-------------------------------------------------------
> If it has wings and / or rubber tires and loses
> money, it's no big deal.  If it has flanged
> wheels and loses money, it loses its right to
> exist and must be done away with immediately.  
>
> That seems to be the mindset of this society and
> every lawmaker in Washington.  

Valleyman Wrote:
-------------------------------------------------------
> Name one Airline with loses close to that getting
> subsidized by tax payers? I can name a couple
> Airlines that went belly up because they
> couldn’t cut it. Airlines pay a big chunk of
> money to Airports they fly in and out of. They
> should charge each passenger what it costs to run
> the DAMN railroad. $8.00 so be it.
>
> Valleyman
>
U doint get it. PATH doesnt really lose money running the trains...they just say that to try to hide the Port Authority's extravagant political patronage spending.

Valleyman Wrote:
-------------------------------------------------------
> Name one Airline with loses close to that getting subsidized by tax payers? I can name a couple Airlines that went belly up because they couldn’t cut it. Airlines pay a big chunk of money to Airports they fly in and out of. They
> should charge each passenger what it costs to run the DAMN railroad. $8.00 so be it.

https://skift.com/2015/04/09/wikileaks-disclosure-shows-u-s-airlines-received-billions-in-subsidies/