MTA on track to name new chief - finance expert Jay Walder

[CPBO]

MTA on track to name new chief - finance expert Jay Walder

By Pete Donohue

DAILY NEWS STAFF WRITER

 

Saturday, July 11th 2009, 4:00 AM

 

 

 

Management consultant Jay Walder is on track to get the newly-merged position of chairman and chief executive officer of the Metropolitan Transportation Authority, sources told the Daily News Friday.

 

An official announcement could be days away, sources said. An appointment by Gov. Paterson would need to be confirmed by the state Senate.

 

Former MTA chief executive Elliot Sander stepped down in May after Paterson said he wanted to install new leadership at the nation's largest mass transit system.

 

A spokesman for Paterson didn't return messages for comment.

 

Walder, 48, an American who once worked for the MTA, served as Transport for London's finance and planning director between 2000 and 2006.

 

He is now a partner with the international management consulting firm McKinsey & Company - and recently wrote a report for the MTA on moving beyond the MetroCard to a so-called smart card that could be linked to riders' personal accounts.

 

In addition to playing a significant role in London's winning bid for the 2012 Olympics, Walder introduced the Oyster smart card used by millions of Londoners who ride the Tube.

 

When he left London's transit authority, Walder was praised by then-Mayor Ken Livingston for identifying $2 billion in savings through efficiency.

 

London Transport Commissioner Peter Hendy said Walder was a key figure in turning the agency into "an organization that is respected around the world for its record of delivery and innovation."

 

Walder worked at the MTA from 1983 to 1995, rising to chief financial officer and executive director.

 

"Jay Walder knows New York City, he knows transit and he's one of the most innovative people I've ever known," city Transportation Commissioner Janette Sadik-Khan said.

 

In a 2003 interview, Walder told Accountancy Age that it was "an incredibly satisfying feeling" to help rebuild the MTA's subway system after it fell into disrepair and was on the verge of collapse.

 

pdonohue@nydailynews.com

[Shortline Bus]

I admit i dont know this guy but at least it seems he has 'transit management' experience and has MTA roots. IMO seems to be a very good pick.

[SubwayGuy]

Shaking my head BIGTIME over here. I hope not. Not another finance guy. They need someone versed in running a railroad, or service, not these dime a dozen MBA types. And I do not want ANYTHING tied to my personal accounts. There is no reason in a society paranoid with identity theft that ANYONE should have my account numbers for any reason.

[metsfan]

Bring someone in from CSX, NS or Amtrak or (NJT). Those roads seem to not have year after year deficit, and have not only costs under control, but are thriving and expanding and upgrading equipment etc. Better yet have an advisory council made up of folks from the various other rail ops. Might be able to figure out some other stuff aside from how to run something as complex as the without losing millions a week. If PATH, (NJT), MARC, VRE, METRA, MBTA, SE, CSX, NS, CN, etc and so on can turn a profit while delivering at least a minimal standard of service, why can't ? It's a question that needs answering. If the utterly underfunded for decades can not have looming deficits, and still offer decent rail, bus, trolly, subway and high speed lines service, why is the massivly funded massively failing? I am pretty sure that has more busses than too, if not then (NJT) definitely does.

 

- A

[Joe]

Andy and Drew both have the right idea. They're missing one thing though: is too BIG. One organization managing: commuter rail, rapid transit, bus, and automobile bridges. Not to mention the two commuter rails are two different entities with their own unique challenges.

 

You don't manage a bus company the same way you run a railroad. Nor do you oversee bridges with a rapid transit mindset. This is like needing a new toilet put in...and calling an electrician.

[SubwayGuy]

Andy and Drew both have the right idea. They're missing one thing though: is too BIG. One organization managing: commuter rail, rapid transit, bus, and automobile bridges. Not to mention the two commuter rails are two different entities with their own unique challenges.

 

You don't manage a bus company the same way you run a railroad. Nor do you oversee bridges with a rapid transit mindset. This is like needing a new toilet put in...and calling an electrician.

 

LOL LOL the problem is even worse than that...true of all business not just ...the MBA's are taking over, and they don't necessarily know what they are doing, "hey this worked on a homework problem in grad school so it should work in the real world...right?...right?"

 

Try:

 

"you dont run a railroad like you run a law firm"

 

or

 

"you don't call a stock trader to fix your plumbing"

[Shortline Bus]

Andy and Drew both have the right idea. They're missing one thing though: is too BIG. One organization managing: commuter rail, rapid transit, bus, and automobile bridges. Not to mention the two commuter rails are two different entities with their own unique challenges.

 

You don't manage a bus company the same way you run a railroad. Nor do you oversee bridges with a rapid transit mindset. This is like needing a new toilet put in...and calling an electrician.

 

Perfectly said bro. (MTA)MTA bridges and tolls should merge with NYC or NYS department of transpor.(DOT) Other than connection to Robert Moses i never understood how a highway toll is related to subways/trains & buses?

[Amtrak7]

Well, he at least is a step in the right direction. You're all right, the MTA is too big to be treated like any other RR/RTO. Bridge tolls should be kept here for now, since its the only profitable part of the MTA and will continue to provide a stream of funding.

[RokuSix]

I think a finance-based person is the best that the MTA can use. The agency has many divisions, too many, which creates a problem in hiring former railroad managers or bus company managers. The MTA requires a "jack-of-all-trades" of sorts. A person with a financial background at least already has some management skill.

[SubwayGuy]

I think a finance-based person is the best that the MTA can use. The agency has many divisions, too many, which creates a problem in hiring former railroad managers or bus company managers. The MTA requires a "jack-of-all-trades" of sorts. A person with a financial background at least already has some management skill.

 

LOL sadly that's what all the business schools want you to think, and it's wrong. Not saying anything either way specifically about Walder, but if anything the last 18 months have shown that having a finance background does NOT mean a person has management skill.

 

Management skill most often comes from direct experience in that which is being managed, or being willing to listen to and consider the opinions of those who have relevant experience. Finance is no prerequisite to either of that, which is why high school educated people with a good idea and the willingness to learn can grow multi million dollar businesses and many college degreed people wind up as burnouts or failures, or more recently just can't get jobs.

 

Business degrees are dime a dozen, it's experience that counts for anything, or willingness to listen to those that have it.

[Shortline Bus]

LOL sadly that's what all the business schools want you to think, and it's wrong. Not saying anything either way specifically about Walder, but if anything the last 18 months have shown that having a finance background does NOT mean a person has management skill.

 

Management skill most often comes from direct experience in that which is being managed, or being willing to listen to and consider the opinions of those who have relevant experience. Finance is no prerequisite to either of that, which is why high school educated people with a good idea and the willingness to learn can grow multi million dollar businesses and many college degreed people wind up as burnouts or failures, or more recently just can't get jobs.

 

Business degrees are dime a dozen, it's experience that counts for anything, or willingness to listen to those that have it.

 

Well said. Off topic but related i been reading in the papers that the State Senate in reply to Gov Paterson getting involved in their recent leadership war w/ the GOP and Espanda and to 'punish' him, the State Senate may delay on voting on the Walder pick until at least September.

[SubwayGuy]

Well said. Off topic but related i been reading in the papers that the State Senate in reply to Gov Paterson getting involved in their recent leadership war w/ the GOP and Espanda and to 'punish' him, the State Senate may delay on voting on the Walder pick until at least September.

 

That's why nothing ever gets done anymore. All the struggles caused by the robber barons and the industrial revolution which led to worker protection, protection of unions, antitrust laws, business regulation, and the depression leading to rules to protect finance and keep banks separate from investing...all of that has been gradually taken away.

 

That stuff was implemented for a REASON. Things didn't work without it, and they worked with it. Now hot shots come along and forget the lessons of history, and roll things back to the way they were in the name of fat checks and wheeling and dealing and we are doomed to repeat past mistakes all over again while those self serving "masters of the a-hole universe" profit at our expense.

 

It took strong leadership to overcome those problems. Strong leadership that was willing to refuse bribes, kickbacks, and lobbying dollars and say me getting dirty money is less important than fixing this system. Now that is needed again, only all that is around is wimps, cowards, pundits, schemers, and spin doctors. No one's trying to do anything anymore, they're just trying to look good for their next move.

 

Since no one is ready to tackle the tough problems, nothing gets done..."leave it for the next guy" and the problems get worse and fester. Albany is another example of just that. :mad::tdown:

[metsfan]

'zactly. Separate rapid transit and commuter. I mean (NJT) has light rail, and will be having more and will be expanding existing, it has commuter rail, and it has bus both local and longer distance. If trenton had a subway, it would likely be ran by (NJT), but under a semi-attached "capitol subway division". It's not like the NCS is grouped in with the main line rail operations, it's only loosely attached with state oversight.

 

has a good model, and it was underfunded since birth, so you know it has to be financially viable to even exist. They have had some unprofitable stints, but in general they break even at least, even with huge projects.

 

I think that is not only poorly run but poorly organized and should at LEAST be divided between in city only and out of city services, this way there is more oversight less waste and no excuses. Also, give (NJT) full operating authority to run the lines that go into NY vs leased pool service. Would allow more flexibility in equipment assignments, and draw attention to the lack of state run rail service outside of the NY metro area.

 

- A