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Chairman of the Metra board Norm Carlson and the incoming CEO and Executive Director Jim Derwinski made a presentation about the challenges Metra is facing. Carlson admitted the way Metra has been operating its business is outdated and needs modernizing for the current economy.
“Metra is facing its most significant financial crisis in its 33-year history,” Carlson said.
Carlson talked about the difficult choices the Metra board had to make in approving it’s 2018 budget, which the Metra Board approved on Friday. Those choices included cost reductions, fare increases, deferral of capital spending and, for the first time in Metra’s history, service cuts to close a $45 million budget deficit.
“Metra has an economic model that is not sustainable,” Carlson said. “This is in large part due to macroeconomic changes in our society.”