From a business owner’s perspective.
A privatized railway system would be a better railway system.SEPTA needs money. Lots of it. In fact, a recent report said that unless SEPTA gets more money, the system “... will be forced to gradually truncate its system and eliminate services … ."
Mayor Nutter would be doing the city—and the country—a favor by declaring bankruptcy.
It does not take a genius to figure out what is going on here. Philadelphia is bankrupt. Without even seeing the details, it is safe to assume untenable union wages and pension benefits are at the heart of it all. A 47.6% funded pension is rather telling in and of itself.