Despite recent fare and toll hikes and continued high ridership, the Metropolitan Transportation Authority (MTA) continues to face significant future budget gaps. The picture is complicated by an ill-advised 2002 debt refinancing that left the aut Read More
State and local government workers enjoy pensions that far outstrip the norm for private-sector workers, most of whom have no guaranteed pension at all. Rising pension costs have been straining budgets for every level of government in New York, and future obligations will continue to climb as the number of retirees grows. Read More
Soon after the end of the Transit Workers Union's illegal 60-hour walkout in December 2005, Local 100 President Roger Toussaint boasted that his members had made good on a "credible threat" to strike. Later today, a state judge in Brooklyn will decide if they can get away with it. Read More
The media treated it as good news when the Metropolitan Transportation Authority and Local 100 of the Transport Workers Union said last week that they'd settle their next contract through binding arbitration. Read More
Barely three months after the state Legislature approved a $2.3 billion package of tax and fee hikes to bail out the financially troubled Metropolitan Transportation Authority (MTA), members of the MTA's largest union have been awarded a pay increase that will break the authority's tenuously balanced budget. Read More
Thirty-five years ago this month, the state Urban Development Corp. defaulted on its short-term debt -- setting off bond-market alarms that culminated in New York City’s 1970s fiscal crisis. Could the Metropolitan Transportation Authority become this era’s UDC? Read More
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