Monday, September 22, 2008

Sorry, Outta Money, Wall Street EATED IT

Chump change in the scheme of things though.

Metro needs more than $11 billion over 10 years to maintain, expand and improve train, bus and paratransit service, General Manager John B. Catoe Jr. said today. More than $7 billion of that is needed just to keep the region's largest transit agency running in a safe and reliable manner.

Metro's needs include replacing one-third of the rail fleet, 300 rail cars that are more than 30 years old and nearing the end of their life cycle; replacement of about 100 buses every year; repairs to leaky tunnels and crumbling station platforms; and repairing old bus garages, one of which is more than 100 years old.