Hell to pay

The financial crunch is especially hard on all those who are overextended. Transit agencies too are subject to margin calls. This morning's LA Times includes "MTA may have to cut commuter service". Lease-back arrangements with AIG are beginning to bite.

Just two days ago, the Times reported how average daily September 2008 ridership compared to the year before. Applying LA County population numbers for the 2 years and the 3.9 trips per person per day that we found in the NPTS data the LAMTA's various fixed guideway lines served just over 0.8% of daily travel demand, up from just over 0.7% the year before. But less than 1% in either year. Much bigger, however, on the cost and debt side.