Sunday, November 17, 2013

Despite Financial Concerns, Cities Are Doubling Down on Bike-Share

Ride your own damn bike and spend the money on infrastructure!  Everybody I know who supports this shit has 5 bikes.  In Austin the visiting tourist can rent a bike anywhere.  

Despite Financial Concerns, Cities Are Doubling Down on Bike-Share
Ongoing financial problems at PBSC (also known as Bixi), the Montréal-based bike-share equipment company, continue to ripple across North America. But even so, the continuing popularity of bike-share with the public is leading cities with PBSC contracts to call for expansion of their systems.
The hope among supporters in places including Toronto and New York is that with revised business models, bike-share can solidify its position as an integral element of the urban transportation menu.
According to the most recent public figures, PBSC, which is owned by the city of Montréal, is $42 million in debt, with a $6.5 million deficit and $5 million in outstanding payments. In September, the auditor general of Montréal expressed doubts over the company’s ability to continue operations. Last month, client Nice Ride Minnesota filed a notice of material breach of contract over long-standing disputes about software development, although at the time, Nice Ride officials emphasized that they hope to resolve the issues and that “Nice Ride values its relationship with PBSC and is optimistic that PBSC will restructure successfully.” In Vancouver, meanwhile, worries about PBSC’s financial stability might shut down the rollout of that city’s program altogether.

Despite Financial Concerns, Cities Are Doubling Down on Bike-Share - Sarah Goodyear - The Atlantic Cities

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