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McKinsey & Company Bain & Company Hey everyone -
Not the exact right bowl, but looking for advice/referrals for a close family friend trying to break into ESG/climate change/sustainability consulting.
They have ~7 YOE in finance (mostly junk debt, some S&T) and 20 YOE in development banking at an IGO (think World Bank, doing everything from public debt offerings, infrastructure, etc. all w heavy ESG/compliance requirements).
Thanks for the help!
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By investing in it as the optimal mode of transport for moving large commuting populations, not just a solution for people who can’t afford cars
I agree. It needs investment to make it clean, safe, have predictable and frequent schedules and take you where you need to go.
Metro agencies should diversity revenue streams into real estate so that you have dense, appreciative property right on top of a transit station. That’s what Singapore MTA does
Revoking use of transit for “problem” riders. People who are frequently publicly intoxicated, urinate on transit, vomit, use drugs openly, have a history of assaulting fellow travelers/drivers. If you do these things on public transit the use of it should be revoked for a “cooling down” period depending on the severity of the crime. One-off citations/fines are not an effective deterrent.
This is going to be reeaaally unpopular, but two suggestions based on work I did with a major US transit agency before BCG: bust unions and stop awarding contracts to consulting firms.
Yes, I know union-busting is a real damn taboo thing to say, but to improve operations, you need to either cut costs or boost revenues. People practically riot when you raise fares, and in their defense, mass transit has to be affordable. The labor costs for mass transit are outrageously high because of the grip unions have. We tried to automate rail defect detection, and it was shut down because the union wanted people to roll an ultrasonic trundle wheel on the tracks BY HAND. Ignore the fact that there was a minor derailment daily and untold numbers of delays because they were so terrible at their job. The pensions and wages were also crazy high for roles a small child could do. It’s just not sustainable.
The US also has the highest cost per mile for building new track or rail lines, and for what I saw, it was due in part to hiring do-nothing design and engineering consultancies that fleeced the transit authority and brought work to a crawl with an army of morons. When consultancies delay like I have seen, they should have their contract forfeited or face an audit.
BCG4, you’re right that my critiques are a bit oblique to the question, and I should mention that my next step would be using these cost savings and general operational improvements to just build a more functional transit system. If the service improves in reliability, more will use it, and ideally those cost savings could then be used for expanding the network or further improving service.
I am not in the boat that transit needs to absolutely run at a profit — I am undecided there and don’t think it’s unreasonable for it to run with tax assistance since it has great externalities. However, at least putting some effort into closing the gap wouldn’t hurt.
By shutting it down until we have the pandemic under control. NEXT!
I can think of somewhere to start:
https://www.nytimes.com/2018/06/19/climate/koch-brothers-public-transit.html?referringSource=articleShare
Ad agencies who transform the image of public transit from poor people to successful urbanites. Get rid of the social stigma around trains and buses entirely and only then, start investing in infrastructure. Increase budgets for transit at a local level (local politics has an immediate impact on your day to day... get involved!) and enforce rules on problematic passengers
By moving to one of the European/ SEA countries where public transit is already functional.
It’s not happening for the USA
Second this. Public transit works great where I live in Europe. My commute is 8 minutes by train, but 15 minutes by car. People of all walks of life take it to not have to deal with the inconvenience of parking. The city limits parking, and clean/reliable transit makes it the preferable option for commuting.
Kill it.
We don't need public transit in an Uber/UberPool world
Sell the Tunnels, let industry figure out if they want to use it to transport people or do something else instead. My bet, especially in Manhattan, is that it's better used for package / goods Deliveries.
Ok Ayn Rand
Get rid of it. Public transit is the bane of existence.
Where do you live?
Autonomous cars are the future. Subways will be great for the most densely packed cities, but busses will go extinct.
Actually I see bus use increasing with more bus rapid transport systems being planned. These have significant advantages over both light rail and regular buses.
Make everyone live right on top of each other. Outlaw suburbs and only legit farmers can love in the country. Hey, you asked.
The primary reason more cities don’t have public transit is that the cities are too spread out. You can’t have 2-3 train stops in each neighborhood.
Bullet trains between major cities. Metros within the city.