Word: subway
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Dates: during 2000-2009
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...Boston-area residents, the subway system is more than just a convenient tool for travel. It is a staple of an urban lifestyle that also has a low impact on the environment. Massachusetts historically led the way for the United States in terms of going green, as exemplified by the recent passing of the Global Warming Solutions...
However, all of the positive legislation and momentum will be pushed backward if several proposed changes to the Massachusetts Bay Transportation Authority take place. Last week, officials of the MBTA released budgeting information that included major cuts to its subway services, including ending weekday commuter rail service after 7 p.m., removing customer service personnel from all stations, and cutting enough overall service from its bus lines and rail systems to generate a loss of over 40 million riders annually...
Boston has always been one of the pioneers of public transportation, including being the first American city to implement an underground subway system, and, at a time when easing the burden we put on the environment is a major priority, it is an inopportune moment to cut back on service. Many major cities today still lack robust public transportation, and to benefit its citizens and lower energy usage we need to increase, rather than curtail, mass-transit programs. It is understandable that in these tough economic times money has to come from somewhere, but alternative sources do exist. A legislative...
...scheme seemed a bit convoluted from the start, but it offered oodles of money to the participants. An American investor agreed to lease tram and subway cars from BVG, Berlin's mass-transit company. And BVG, in turn, leased them back for terms ranging from 12 to 30 years. Under U.S. tax law at the time, the American investor was able to take a depreciation tax benefit on the equipment because it was held on a long-term lease - a financial benefit the investor shared with BVG. (Read about Paris' public bicycle system...
Between 1997 and 2004, Berlin's public transportation company entered into 22 such lease and lease-back deals, covering a total of 511 tram cars and 647 subway cars, with various American investors...