Passenger Trains > NJ Does PATH lose $500 million yearly?

NJ.com does a well researched article on how the Port Authority of NY NJ accounts for its bucks. The agency says PATH loses a half billion per year, on 81 million riders.

But the accounting is very selective. Revenue from pricey retail space in PATH facilities goes into a retail account. The billions in New construction around PATH goes elsewhere, etc.

https://www.nj.com/expo/news/g66l-2019/02/fd8883eed19501/the-top-port-authority-facilities-cash-cows-and-money-hogs-for-2019-.html

Posted from Android

Sounds like Amtrak accounting.
World Trade Center is making money, but WTC infrastructure is in the way in the hole.
Lincoln Tunnel is losing money because of work being on "approach road."

It was stated as $400 million, so now it's $500 million.

13.8 route miles, 13 unmanned stations, crappy off peak service compared to the NY subway with the same base fare without free transfers to buses, two person crews, and all of NJT is less than $300 million, the Port Authority is full of it.

Posted from Android

Really, what does it matter?  Are they gonna shut it down and put 81 million more rides a year on area expressways / roads and bridges? 
It gets so old these articles about how much money public transit looses - when public roads and highways cost TRILLIONS of dollars...

dispr Wrote:
-------------------------------------------------------
> Really, what does it matter?  Are they gonna shut
> it down and put 81 million more rides a year on
> area expressways / roads and bridges? 
> It gets so old these articles about how much money
> public transit looses - when public roads and
> highways cost TRILLIONS of dollars...

NY and NJ often spend huge amounts of public money to increase the value of nearby land, often already owned by connected real estate developers. Or individual home owners.  PATH has no way of recapturing the huge increase in value of nearby property, which would go a long way toward improving the system. So, Ross, Vornado, Kushner, etc market their buildings as near PATH, but PATH gets nothing.

In Montclair, for example, home prices in some neighborhoods doubled in less than five years as the Montclair Connection (to NYC) finished.  The state spent years building this mile long connection, and millions of dollars.  The town collected the huge increase in taxes on homes and the parking revenues, etc.  State taxpayers and NJ Transit got bupkis.

A new city is being built in Harrsion, NJ on the ruins of abandoned factories. None of it would be taking palce without the PATH station. 

The Port Authority of NY and NJ is one of the most corrupt quasi-govt agencies in the country.   They answer to no one.  They apply expenses and income to whatever part of their empire  they want.  They spend money like its free. Huge mgmt salaries,  Being in upper mgmt there is a prime political crony appointment.    Political corruption is blatent in this part of the country, and the Port Authority is at the top of list.  ( Alledgedly)