“Rodney Dangerfield has nothing on the MTA, which can’t get a bit of credit — or respect — even when it does something right,” Pete Donohue writes for The New York Daily News.
“Take Grand Central Terminal, the historic hub where Apple opened a new store on Friday. It’s the latest addition to the hub’s assortment of 100 restaurants and shops,” Donohue writes. “The Metropolitan Transportation Authority’s net income from rent and special events at Grand Central totalled $8.2 million in 2000. Last year, the net income hit $18.7 million.”
Donohue writes, “That’s a 128% increase and an additional $10.5 million a year the MTA can use for the subway, bus and commuter train network. It’s also a pretty good indication that the authority has done a good job marketing and managing the space. You wouldn’t know it, however, from a flurry of media reports suggesting the MTA is giving away the store on 42nd St.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]