MTA proposes ‘value capture’ to New York City

Penney Vanderbilt and KC Jones: All About Railroads

New York MTA Chairman Joe Lhota and New York City Mayor Bill De Blasio—bitter political enemies since at least 2013, when Democrat De Blasio trounced Republican Lhota 73.2% to 24.3% in the mayoral election—have been battling publicly over the City’s share of funding for New York’s subway system, which is in need of major capital investment.

If Lhota and De Blasio can’t or won’t work with each other—a subject the City’s tabloid dailies, the Post and the Daily News, have been feasting upon—perhaps their deputies—MTA President Pat Foye and New York City First Deputy Mayor Dean Fuleihan—can?

New York State’s government is currently hammering out its FY2019 budget, due on April 1. There are several proposed measures “that would provide short and long-term funding to the MTA, which is currently under a state of emergency as a result of decades of disinvestment and disrepair,” Foye points out in a letter…

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Thoughts On General Electric And GE Capital

Penney Vanderbilt and KC Jones: All About Railroads

Seeking Alpha

At the time GE management was disposing of most of its financial divisions, it appeared as if management was doing the right thing to limit focus to just industrial operations.

We are now learning that maybe disposing of the financial divisions, at least so quickly, was not the best thing for the future of the company.

Two problems connected with the shrinkage of assets: first, the industrial operations were not generating that much cash; and second, the financial assets left were not that good.

On the front page of the Wall Street Journal, we continue to read about the woes faced by General Electric Corp. (NYSE:GE): “The Long Shadow of GE Capital Looms Over GE.”

Over the past ten years or so, we saw General Electric struggle to get rid of the financial divisions. General Electric was an industrial company, we were told, and…

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