- May 20, 2009
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Here's 2 real world concrete examples of why government sucks and should never perform private enterprise functions:
World Trade Center Redevelopment. The NY and NJ Port Authority, an organization that outlived its usefulness after WWI has control of the redevelopment of the WTC site. Larry Silverstein, a private developer had control of a site immediately next door, he's built and fully occupied. But because unionized government workers benefit the longer it takes to build and the more it costs, the PA site is years late and billions overbudget. Who pays for it? Does the PA have to come out of its pocket to make up the difference? No! The suckers, that is the taxpayers, pay for it.
The NY MTA controls Grand Central Station, one of the busiest commuter hubs on the planet. They are the landlord, they handle leasing the space. Apple computer just signed a lease there for $80/foot and no percentage rent, that's right NO percentage rent and less than half the going rate for the space. There is not a private real estate investor or landlord that would remain in business longer than a day if they operated like that, but because the MTA Commuter and the taxpayer make up the difference we get to pay for their criminal incompetence. Also, the commuter railroad run by the MTA, has no business class, no wifi, not even seats with cup holders and to top it off, because its run by morons in unions, half the seat face backward.
PA and MTA should be privatized.
True story.
World Trade Center Redevelopment. The NY and NJ Port Authority, an organization that outlived its usefulness after WWI has control of the redevelopment of the WTC site. Larry Silverstein, a private developer had control of a site immediately next door, he's built and fully occupied. But because unionized government workers benefit the longer it takes to build and the more it costs, the PA site is years late and billions overbudget. Who pays for it? Does the PA have to come out of its pocket to make up the difference? No! The suckers, that is the taxpayers, pay for it.
The NY MTA controls Grand Central Station, one of the busiest commuter hubs on the planet. They are the landlord, they handle leasing the space. Apple computer just signed a lease there for $80/foot and no percentage rent, that's right NO percentage rent and less than half the going rate for the space. There is not a private real estate investor or landlord that would remain in business longer than a day if they operated like that, but because the MTA Commuter and the taxpayer make up the difference we get to pay for their criminal incompetence. Also, the commuter railroad run by the MTA, has no business class, no wifi, not even seats with cup holders and to top it off, because its run by morons in unions, half the seat face backward.
PA and MTA should be privatized.
True story.
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