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P.A. Accounting Called 'Biased'

Dear Editor:

Though the World Trade Center is a great asset for the Port Authority and the region, the recent article in your Sunday Opinion/Business section regarding the center is not complete. What is missing is the trade center's impact on the PATH train system, something that needs to be fully understood.

In order to gain New Jersey approval for the trade center in lower Manhattan, New Jersey Gov. Richard Hughes was able to convince the Port Authority to take over operation of the Hudson & Manhattan train service. However, to build the foundation of the twin towers, the Port Authority moved the old H&M terminal. The cost of the move was assigned to the PATH system rather than to the World Trade Center real estate which was the reason for the move.

This biased accounting practice continues to artificially inflate the cost of operating the PATH trains.

Everyone should keep this in mind next time the Port Authority proposes increasing the PATH fare.

 


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    Credits

    Author: Daniel Convissor
    Title: P.A. Accounting Called 'Biased'
    Section: Letters to the Editor
    Publication: The Newark Star-Ledger
    Date: 26 May 1991

     


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    Last updated: 4 April 1999