The Chicago Transit Authority’s bizarre business model of robbing Peter to pay Paul, just isn’t working, anymore. Truthfully, it never did.
In 2009, the top-heavy transportation giant struck a deal with Governor Pat Quinn, which required CTA to freeze fare hikes for two years.
That agreement ends December 31, 2011. There are signs that CTA officials are already wringing their hands and licking their chops, in anticipation of next year's 2012 fare increases.
When asked about CTA's financial future, CTA President, Forrest Claypool, reportedly said, “It’s too early to speculate, but it’s just obvious to me that you’ve got a perfect storm of financial problems.”
Well, we all know what that means. Soon, already-dissatisfied CTA passengers will be paying even more and getting even less.
It may sound crazy, but I have a novel idea.
Maybe if CTA spent more money on security and less dough on high-paid figureheads, they’d have more money to