Jonathan Kantrowitz

Political activist, health nut

Archive for February 17th, 2012

CT RAIL COMMUTER COUNCIL ASKS…“WHERE’S THE MONEY FROM THE FARE HIKE?”

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A review of Governor Malloy’s proposed FY 2013 budget finds that, while an additional $9.27 million will be raised by the January 1st 2012 fare increase, $9.8 million less will be spent on rail operations than last year.

“Commuters were told that the railroad needed more money,” says CT Rail Commuter Council Chairman Jim Cameron. “So why then did the fare increase revenue just offset earlier subsidies and not get spent on the trains?”

According to the Governor’s budget, the increased fare revenue will end up in the Special Transportation Fund which is used to, among other things, to rebuild roads and bridges.

“Everyone in Hartford knows that The Special Transportation fund isn’t a ‘lock-box’, it’s a sieve, regularly ‘dipped into’ to fund non-transportation projects or to balance the budget. The Governor’s proposed CDOT budget calls for $30 million in town aid grants for road repaving,” says Cameron. “And it looks like $9.8 million of that is coming from rail fares. How does the Governor argue for a Metro-North fare hike that doesn’t get spent on improving service?”

The CT Rail Commuter Council is backing State Representative Gail Lavielle’s (R-Wilton) proposed bill HB 5067 which would require increased revenues from rail fares to be spent on the trains. That bill has yet to be heard by The Transportation Committee.

“We are urging concerned commuters to contact their State Representatives and Senators and ask that HB 5067 be heard and that rail fares stay where they belong… being spent to improve rail service,” says Cameron.

Romney Wanted To Let Detroit Go Bankrupt

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Dan Akerson, CEO and chairman of General Motors:

Did President Obama save General Motors?” Reynolds asked

“Without the money, without the funding, it would have been very problematic,” said Akerson. “At the risk of alienating a whole lot of potential customers, I would say the Obama administration did a good job.”

Republican presidential hopeful Mitt Romney and other critics have argued the bailout was unnecessary, and that the regular bankruptcy process would have made GM and Chrysler stronger companies.

“Would that have happened?” Reynolds asked.

“Not in my opinion,” asked Akerson. “It would have been in bankruptcy for years and I think you could have written off this company, this industry and this country.”

On Thursday, GM announced 47,500 blue collar workers in the U.S. will each get a profit-sharing checks next month — checks of approximately $7,000 a piece.

Ready, Aim, Fire!

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WWE Press Release:

STAMFORD, CT– January 9, 2009 – World Wrestling Entertainment® today announced a 10% reduction of its staff across all areas of its global operations. This reduction will result in annual savings of approximately $8 Million in compensation and benefit costs. Additionally, the Company will incur an approximate $3 Million one-time restructuring charge in the first quarter of 2009.

The staff reduction is consistent with the Company’s previous commitment to implement stronger cost controls, increase earnings and margins, and reduce its cost base by $20 million in 2009. In addition to staffing, the Company has completed a comprehensive evaluation of its operating and capital expenditures and has identified additional efficiencies. Collectively, these initiatives will strengthen the Company’s financial performance.

“These efficiencies will help position the Company for the long term, by placing it in a stronger, more flexible position,” said Linda McMahon, CEO, WWE. “With these actions, we believe we can execute our key strategic initiatives, including our digital strategy and international expansion, in a more profitable manner.”

Additional information on World Wrestling Entertainment Inc (NYSE: WWE) can be found at wwe.com and corporate.wwe.com. For information on our global activities, go to http://www.wwe.com/worldwide/.

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