Airlines: notorious for over booking, running down planes on maintenance schedules, failing to pay staff properly, providing increasingly worse service to passengers whilst simultaneously jacking up prices, Airlines in my country had to be bailed out over COVID, they’ll leverage the full power of their bottom line to prevent new airlines from entering their market and competing with them, have been caught adjusting (read, increasing) prices on customers based on device and browsing habits.
Airlines are close to the worst example I’d have given for “can do things better”. Basically the only reason plane travel is as safe as it is, is because governments had to get the regulation stick out and force them to do the right thing.
> The private sector would ruthlessly fire people, cut and restructure costs
The private sector would fire people, make everyone else do triple the work, increase costs for consumers, do even less maintenance if they could get away with it, and exit with a fat check the first chance they can.
airlines used bankruptcy to restructure their finances and liabilities, my argument is MTA must go through deep clean as well, before even thinking about extra $ of taxpayer money.
most importantly people must be changed to more qualified, with less greasy palms, fewer connections to corrupt contractors and political connections
It is routine procedure, the very purpose of chapter 11 is to protect the company from liabilities and negotiate a new structure where both shareholders and bondholders and employee unions take a haircut in order to salvage the company and its business model.
Company will never recover from chapter11 Unless bondholders, employees, union, all take a haircut and build a new economics(cost structure) for existing business model
> The private sector would ruthlessly fire people, cut and restructure costs. I see none of this happening.
Again: please read the history of the IRT and BMT. I think you'll find that "cut and restructure" is not an unknown practice in the history of NYC's mass transit, and that it didn't have the effects you're thinking it might.
> Airlines seem to have no problem fixing their finances and their bankruptcy arguably made them only better
Airlines are famous for receiving large federal subsidies to keep them afloat.
Airlines seem to have no problem fixing their finances and their bankruptcy arguably made them only better