SMART MONEY MISSES BY 85 PERCENT
Smartmoney.com reports on the increase in transit ridership, posted at “yahoofinance.com:”
Thanks to sky-high fuel costs, public transit ridership is at its highest level in 50 years, according to the American Public Transportation Association, an industry group. In the first quarter of this year, riders took 51% more trips on subways, commuter rails, streetcars, trolleys and buses than they did during the same period in 2007.
Actually the American Public Transportation Association has reported a 3.4% increase in ridership. Smartmoney.com missed the mark by about 85%.
There is no doubt that the increase in transit ridership is due to high gas prices. On the other hand, much of a “clueless” media has missed an even bigger point --- that more than 97% of the decline in car travel has not transferred to transit.