File this under “Predictable”: The city’s bike-sharing program is broke, and its general manager just quit.
And put this next one under “Mark Our Words”: If the failing bike program gets so much as a nickel in public funding, it won’t be long before taxpayers are on the hook for millions. Even though bike-sharing was sold as a new transportation option that wouldn’t burden taxpayers with new costs.
On Wednesday, New Yorkers learned that the general manager of Citi Bike, Justin Ginsburgh, had resigned. Turns out Ginsburgh submitted his resignation weeks ago. In between, Mayor Bill de Blasio said the company faces “a serious economic situation.” Transportation Commissioner Polly Trottenberg cited “financial and operational challenges.” Now some folks are eyeing a taxpayer bailout.
We hope we’re not the only ones who remember that when then-Mayor Michael Bloomberg announced financing for the program in 2012, he said there’d be “no cost to taxpayers.” So optimistic were officials, they devised a deal under which the city would split profits.
Luckily, Bloomberg made no promise to split losses. But that’s not stopping other pols: “Every other form of transportation receives some public subsidies,” says City Councilman Brad Lander.
That’s not exactly true, of course — at least if cars, taxis and hoofing it count as transportation. Even if it were true, with all the programs taxpayers are on the hook for, why add another? You can bet that once city money starts flowing, costs will soar.
We’ve been skeptical of the bikes from the start. Maybe if they don’t kill too many folks or cost taxpayers, there’s a place for them. But those are key “ifs.”
So far, de Blasio’s nixing a bailout. “At this moment,” he says, “city budget money is not on the table.” Wise words. Because shoveling taxpayer money into this dubious venture will surely lead to a downward, uh, cycle.