Thursday, May 6, 2010

Sell Your MTA Bonds

Today the MTA was scheduled to lay off about 1,000 workers in an attempt to close an $800 million budget deficit. But the layoff was cancelled by a last minute court order. So these workers will continue at their jobs.

About half these workers are "customer-service agents." If you aren't familiar with the MTA, I can assure you that getting rid of these agents should have little impact on "customer service" there.

The rationale for the restraining order is supposedly that the required hearing was completed too long ago, back in 2009. So, if I have this straight, the reward for keeping the workers on for at least an additional six months (maybe more; I'm not sure when the hearing actually took place in 2009) is to keep them on forever. Maybe the MTA will learn the lesson and lay them off more quickly next time. Is that what the union is shooting for?

Meanwhile, the public-sector unions keep their teeth firmly inserted into the veins of the public fisc. Here in New Jersey our governor is facing down our own public-sector unions, and it's a huge problem. In New York City, it's probably well-nigh hopeless.

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