Tuesday, May 20, 2008

MTA: Good At Wasting Our Money

With a budget in the billions of dollars, fiscal planners might not think much of $200,000. To 99 percent of us that is a hefty chunk of change and no one likes seeing that many dollar bills going to waste. However, the MTA doesn't seem to think much of it, or their riders for that matter when they decided to give the said amount to a man that doesn't even work for them anymore.

From The NY Daily News:

Metropolitan Transportation Authority veteran Thomas Savage will receive a full year's salary as if he was still reporting to work as president of the MTA Bus Co. - even though he stepped down from the executive post last month, the authority said.

Spokesman Jeremy Soffin described the $200,000 as a necessary cost of a larger initiative to consolidate management positions, which the authority expects to lead to financial savings down the road.

Savage retired despite having one year left on his multiyear contract, Soffin said.

Gene Russianoff of the Straphangers Campaign had kind words for Savage and the MTA's efforts to streamline operations - but said he believed the MTA is "too generous" when crafting packages for executives.

A necessary cost?

How exactly is a fully loaded salary for someone that left their position necessary for the MTA, or any company for that matter. Especially when the dollars come from taxpayers and/or straphangers, that type of waste is pathetic.