(Source: Tree Hugger)

Trivia: New York’s is also the only subway in the world to run 24 hours a day, 365 days a year.

Image courtesy: TreeHugger

Our friends at Treehugger have put together a great, easy to understand compilation of subway/metro train fares for a handful of major cities around the world, with a promise to update the list in the near future.  The article takes a stab at comparing the New York Subway system fares against the rest and goes on to analyze What Makes a Subway Fare Fair? and Why is New York City Raising the Subway Fare? Makes for quite an interesting read.

Click here to read the entire article.

(Source: NYTimes.com)

Plummeting tax and fare revenues that have been depressed further by the ailing economy could increase the Metropolitan Transportation Authority’s budget deficit this year by $650 million, according to a new estimate made public on Monday. If the doomsday forecast is borne out, the authority’s deficit this year could grow to nearly $2 billion.

Subway ridership fell 2 percent in January compared with last year.

The authority has already proposed a steep increase in fares and deep service cuts if it does not get a state bailout. But if its finances worsen significantly, it could be forced to take even more drastic measures.

“This is obviously breathtaking,” Gary Dellaverson, the authority’s chief financial officer, said as he presented the projections to a meeting of the authority board’s finance committee.

Click here to read the full article.