MTA Chairman Jay Walder Announces Resignation

NEW YORK (CBSNewYork) – Jay Walder is resigining as chairman of the Metropolitan Transportation Authority.

WCBS 880’s Rich Lamb With Reaction

His resignation is effective at the close of business on October 21.

“I want to thank Governors Cuomo and former Governor Paterson for the honor of serving the people of New York State,” Walder said in a press release.

“The MTA’s transportation system is the foundation of the metropolitan region and we are fortunate to have thousands of dedicated men and women who work so hard to provide these critically important transportation services to millions of people each and every day.  I believe that we have accomplished quite a lot in a short period, with the support of two Governors, the Mayor, a hard-working Board and many others.”

Dick Ravitch, who was the MTA chief from 1979 to 1983, responded to a question asking whether ordinary New Yorkers would notice a difference with Walder gone.

“Riders are going to see the benefits of a lot of decisions that Jay made over the last year.  I mean, they’ll see those good results over the next few years.  But they’re also going to feel the pain of the fiscal plight that every governmental entity faces this day and age,” Ravitch told 1010 WINS.

“With the specter of drastic fare hikes on the horizon, we really need a new commissioner who’s looking out for the interests of the riders.  And so, we’ll be watching very closely to see if the new commissioner does have the region — 9 million transit riders — at heart,” said Paul Steely White, of Transportation Alternatives, an advocacy group that promotes public transit.

In a statement, Mayor Michael Bloomberg also thanked Walder for his work, saying “any city in the world would have been lucky to have him.” The mayor applauded the outgoing chief for projects including the 7 line extension, countdown clocks and gateless tolling on bridges.

“He is the type of person we can’t afford to lose, and his departure is a real loss for New York City, the metropolitan region, the state and the country,” Bloomberg said.

Walder joined the MTA in October of 2009 after working on London’s mass transit system.

He will go on to become CEO of the MTR Corporation in Hong Kong. It operates rail services in Asia and Europe.

Walder officially starts there on January 1, 2012, but will be named CEO Designate on November 1, 2011.

“This is an exciting opportunity for me to lead a publicly-traded, multi-national corporation with a broad set of business activities,” Walder said. “The MTR Corp. is widely recognized for its world-leading rail systems and the innovative property developments that are built around stations.”

Please offer your thoughts in the comments section below.

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Comments

One Comment

  1. Dixson says:

    Corporate greed is destroying America. I read somewhere that 4% of the U.S. population now controls 80% of the wealth of this nation; which is like saying that 80% of the U.S. population no longer has anything to do with the economic system of this country which is capitalism. In addition to the upper middle class, lower middle class, working poor, you now have the “slave class” People with virtually no material assets, they can’t own a car or pay for their children’s education, barely afford their monthly rent in a slum or ghetto, and yet they labor for the minimum wage at companies where their multi-millionaire CEO works on becoming a billionaire. The CEO class has forgotten the basic rule of kindergarten: SHARE!!!!!!!

    And basically what can individuals do who find themselves in the “slave class”? Don’t vote Republican, because their political party is now based solely on giving tax breaks to hedge-fund managers to receive donations to finance their re-election campaigns, so it becomes a cycle of greed that the destitute voter who has no voice in the American political system can only suffer for this arrogance. Is re-electing Obama the answer? Who knows?

  2. Bell Toller says:

    It’s time to move on to bigger and better things.

  3. rocky says:

    State should investigate this THIEF SOB

  4. Lawn-Guy Land says:

    So he’s taking a job with (probably) LESS responsibility and (at least) TEN TIMES the salary. Such a deal.

    1. Maggi Rogers says:

      The poor guy just got tired of Moker putting the scres to hi. Good ridence to bad rubish!

  5. Jason says:

    I’m guessing everyone here doesn’t know jack about the MTA and how it runs.

    If you want to whine about rising fares and service cuts, call Albany. Jay Walder was actually one of the best for the position and helped bring the budget in line, even if it meant tough choices.

    You’ll see, whomever we end up with next is going to ruin the progress Walder made.

  6. NYC IS A CESSPOOL says:

    I HOPE YOU DIE YOU BALD HEADED C O C K S UC KE R

    1. Debbie says:

      @ NYC…Wow you’re vicious, I don’t like him but what did he ever do to you..LOL

  7. Angry says:

    He should have been fired, but MTA never fires the major leeches. The much-vaunted clocks only inform people that the trains are up to 15 minutes apart on a normal day. I pity Hong Kong. He’ll take a huge salary, mess up their system, and move on.

  8. MAD AS YOU KNOW WHAT says:

    SEE YA !!!
    After 10yrs of service with MTA, they gave me my lay-off papers, yet they generate millions on a day-to-day basis. He had a sky-rocketed annual salary and did absolutely nothing for the general public or his inside people.
    Here’s an idea:..Take a few of the so-called Union Reps with him and watch how much MTA saves.

    SEE YA JAY..!!!

  9. midi-man says:

    Good Riddance. Don’t let the door hit you in the butt on the way out.
    Get Rudy he fixed NYC he can mos definably fix the MTA!

    1. Lawn Guy Land says:

      (1) As mayor, Rudy pulled cops OUT of the subway. That doesn’t bode well.

      (2) Rudy has never seen the inside of a bus/train/station in his life, and he’s PROUD of that.

      (3) The MTA is still subject to STATE politics and STATE funding whims regardless of who’s in charge.

  10. celo green says:

    now that the job is open maybe the hundreds of self proclaimed experts on the MTA will apply and make the difference they rail nobody else can

  11. BYE BYE JAY says:

    Good Riddance. Don’t let the door hit you on the way out you creep.

  12. Bill for NY says:

    the federal government should put this guy in jail. One day the people will get tired of price raises, inefficiency, monopoly, unaccountable, subsidized MTA. Until then you are just sheep in a heard

    1. Island of Staten says:

      What specific crime(s) has he committed?

      1. MAD AS YOU KNOW WHAT says:

        @ Island…He’s the man sitting in the chair remember?
        He’s the biggest crook at the top, take a day and view the 465 stations, a good percentage are run-down, in need of massive repairs, unsanitary conditions on the trains and platforms, numerous un-manned booths..why ? Because this was MTAs’ way of saving. Yet, the thousands who travel thru-out daily not only place their hard earned money in the pot but endanger their lives when they ride at night.
        What crime did he commit.? .He’s a crook..he padded his own pockets and every board meeting he supposedly justifies where the millions are going, Oh I know in HIS POCKET AS HE IS ON HIS WAY OUT !!!

      2. Lawn-Guy Land says:

        @ Mad…

        If you have SPECIFIC evidence of a SPECIFIC crime, then present your evidence so he can be prosecuted. Otherwise, don’t begrudge him his salary (which is many orders of magnitude LESS than what other CEO’s are paid for similar responsibility).

      3. STILL MAD AS YOU KNOW WHAT says:

        @ Lawn..Who are you kidding ?
        A crook is a crook is a crook….He does his dirty work under the table, it goes un-noticed..he uses the john and still comes out with his hands dirty. Look at Madoff..he was a crook for many years and went un-noticed..crooks have a way of diligently staying out of the line of fire until the bullet hits them head first.
        HE’S A CROOK..he’ll take his..MTA..money and quad-droople it..!

  13. frank says:

    May I recommend buying puts on MTR Corp starting in January.

  14. anonymous says:

    Hallelujah

  15. General says:

    Thank goodness, he should have been gone long ago.

  16. T says:

    Nice I guess he realized the MTA is beyond repair so get while the getting is good

  17. evm says:

    By leaving on his own does he still get an $800,000 buyout?

    1. Lo Rhent says:

      Yes! And free Metrocard for life! He’s too smart to use it, tho.

    2. Jason says:

      No, that was only if he was fired.

Comments are closed.

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