Portland-based Alta's Citi Bike bicycle-sharing system going broke in New York City: Commuting roundup (Oregonian)
"It has been a rough month for Portland-based Alta Bicycle Share. First, a messy bankruptcy involving an equipment supplier prompted Portland to once again delay launching a $4 million bike-sharing plan in Alta's hometown until 2015. Now, the Wall Street Journal reports that Alta's Citi Bike system, launched with crown-jewel fanfare in New York City last summer, is on the ropes financially. And Alta, run by former city of Portland bicycle planner Mia Birk, is largely to blame for the system's problems, sources told the newspaper." http://www.oregonlive.com/commuting/index.ssf/2014/03/portland-based_altas_citi_bike.html http://online.wsj.com/news/articles/SB10001424052702304256404579451770072629130?mg=reno64-wsj *Leaders of Citi Bike are moving quickly to raise tens of millions of dollars to rescue the popular bike-share program as it loses money, according to people familiar with the matter.* *Citi Bike's bright blue bicycles have become a seemingly indispensable part of some city neighborhoods, but its managers don't believe it can survive if it doesn't become more appealing to tourists and expand to new neighborhoods, the people familiar with the matter said.* *The program's leaders have approached officials in Mayor Bill de Blasio's administration about raising Citi Bike's rates, the people said.* *Earlier this month, Polly Trottenberg, the city's new transportation commissioner, said the bike-share program faced "a number of financial and operational challenges," though she didn't detail them.* *"We are working as diligently as we can to help the company resolve them and strengthen the program going forward," she said March 6 during an appearance before the City Council's transportation committee.* *Asked for comment Thursday, the city transportation department provided a statement identical to a portion of Ms. Trottenberg's earlier testimony* a Andy Bach, [email protected] 608 658-1890 cell 608 261-5738 wk
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