We know the MTA is facing a financial crisis; we know the threat of a second fare hike in two years looms large; and we know the MTA has planned to cut services — but not yet service — to address what is now being labeled a $700-million budget gap.
Today, we find out [...]

The MTA hasn’t started advertising on its (non-existent) straps as they do in Seoul. (Photo by flickr user Queenbean79)
As the talk of the MTA’s budget problems has grown, we’ve heard stories, on and off, about the agency’s efforts to attract more advertising dollars. In April, I warned riders that more ads were soon to be [...]

New York City Comptroller William Thompson holds forth on the MTA as Gene Russianoff, left, and firefighters union head Steve Cassidy, right, look on. (Photo from the Comptroller’s Office)
William Thompson, New York City’s Comptroller, has launched the latest salvo in the ongoing battle between New York officials and the financially-beleaguered MTA.
Speaking Wednesday in the [...]

High gas prices are pushing more commuters onto mass transit options. (Gas $4.37 by flickr user 54east)
As Americans prepare to hit the road later today for their Fourth of July weekend travels, gas prices are at an all-time high. The national average cost for unleaded regular gas checks in at $4.092 per gallon while New [...]

Neil deMause urges Mayor Bloomberg to find a dedicated source of revenue for the MTA. The agency can no longer rely on the volatile tax revenues, and the city, he argues, isn’t ponying up nearly enough money to keep the trains running. Well said. [Metro New York]

It’s no secret these days that the MTA is in financial trouble. While the word bankruptcy hasn’t been tossed around yet, with the agency facing a few billion dollars in debt, we’re probably not too far away from that point. But an unlikely source of funds — in the form of pork — may [...]

The rehabilitation plan for the Smith-9th Sts. subway stop is just one of more “deferred” projects. (Photo by flickr user Victoria Belanger)
Ah, to yearn for the innocent days of November when it seemed like the MTA would actually be rehabbing the stations along the Culver Viaduct while they did the necessary engineering work on the [...]

While Elliot Sander’s recent $10,000 package raise was largely symbolic, the timing, as I argued yesterday, could hardly have been worse. Today, the Daily News editorial board takes the MTA to task for approving the raise. Sure, Sander could have jumped to the private sector; sure, he’s not compensated as well as other transit heads. [...]

For the past few years, the MTA has relied on various sources of real estate revenue to cover budget gaps. The authority had to turn to real estate taxes to keep pace with their operating budgets, and it has banked on land deals — such as the Hudson Yards sale — for vital economic contributions.
In [...]

Ever looking out for the public’s bottom line, New York State Comptroller Thomas DiNapoli has issued another report on the state of the MTA’s finances. This one reveals that the transportation authority has doled out over $1.2 billion for personal claims and property damage over the last 12 years.
The Times’ William Neuman broke [...]