NEW YORK (Reuters) - New York's Metropolitan Transportation Authority wastes 15 cents of every one dollar collected in fares and has been eclipsed by its peers in cities from London to Bogota, its new chairman said on Friday. Chairman Jay Walder, reporting on his first 100 days in the job, said too little had changed since 1983, when he began ...

The board of the nation's largest transit agency reluctantly approved a 2010 budget Wednesday that would cut bus and subway service and leave New York City children without free rides to public schools. Several members of the Metropolitan Transportation Authority board said that while ...

NEW YORK (Reuters) - New York's Metropolitan Transportation Authority on Wednesday approved drastic service cuts as part of its new budget that must close a nearly $400 million deficit. The service cuts would include closing two subway lines, cutting station agents, slashing weekend and overnight service, and forcing pupils to pay for their travel to school, but MTA Chairman Jay ...

NEW YORK (Reuters) - New York Governor David Paterson on Tuesday nominated Jay Walder, the former chief financial officer of the Metropolitan Transportation Authority, to the MTA's top two posts, combining the roles of chairman and chief executive for a six-year appointment. Walder, a London-based partner with management consultant McKinsey & Co, rose to become CFO of the nation ...