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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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Agreed,best way to travel but too expensive on a daily basis.

Posted on: 2009/3/17 14:21
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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I love the NY Waterway. I think it is the best way to commute to work. I spent a year and a half commuting via PATH/Subway and it was awful. I don't think it is enjoyable standing next to people that don't shower and I also hate the smell of urine. I know that the NY Waterway is expensive but it is well worth it in my eyes. There are no strange smells. That being said, I hope that the NY Waterway is prosperous in the years to come...

Posted on: 2009/3/17 0:41
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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"The Port Authority needs to acknowledge that the PATH has not been 100% reliable, as further evidenced by their willingness to shut down the WTC station during weekends to allegedly speed up the construction schedule on other projects there."

The closure of the WTC station on weekends is a looming NIGHTMARE for users of the Path. It's already slow motion and packed. Wait until everyone has to sit in HOBOKEN with one less line open on the weekends. We got a fare hike and told we would get new cars and better service. The cars often dirty now and there are almost constant delays on the midtown line. I don't see any new cars and it's almost into April. .
I think the ferry should be kept going as an alternate route. It might need management changes or restructuring but I'd rather see money go to mass transport methods instead of the use of more gas and cars.

Posted on: 2009/3/16 11:57
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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Fat ass - it's clear from your post on the Hilton Hotel thread (pasted below) that you don't ride the ferry. The ferry is actually a great ride - expensive, yes - but a nice way to start the morning. My wife and I ride it most days.

Seems, though, as if this threat to file bankruptcy is a bluff. The boats are full and fuel has become cheap again. One of the biggest complaints I've had about the ferry is that they jacked up rates a dollar every six or nine months for a couple of years while fuel prices skyrocketed (claiming the fare increases were surcharges to offset rising fuel costs) and yet now that fuel costs have plummeted, fares never came back down. On top of that, NY Waterways gets a large subsidy from Goldman, Sachs to maintain midday service between Pier 11 and Paulus Hook. I'm sure Mr. Imperatore will manage without PATH or NJ Transit funding.


F-A-B wrote: "This said, the PATH and the crap Holland tunnel can not accommodate the increase of residents - once NY gets the toll going to enter the city, plus the tunnel toll itself, fuel increases and parking demand, the only way across the Hudson is the PATH and it sucks during peak hours.
I will assume that the ferries must be a bitch in winter and is just too expensive for such a short commute.

Posted on: 2009/3/16 2:52
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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Dump the NY Waterways - NO BAILOUT.

They are mismanaged, have an ageing fleet of ferries that are not fuel effieinct, cost effective and there are environmentally friendly ferries on the market today.

There mere appearance is shabby and some look as if they are run down and on there last 'legs'.

I bet the owners still generate a HUGE salary for themselves !

Posted on: 2009/3/16 0:41
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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Quote:

saabconv wrote:
Did Waterways ever think that charging $8 EACH WAY compared to the PATH that is about $1.80 each way may be one of the reasons why? But instead of management thinking of ways of lowering the prices, they want to sue US Airways....good idea - not only will they be hated for sounding like such sour grapes, they won't get money from that airline anyway. They have even less money than Waterways....


Years ago, when I used to work in the Financial District of New York, I would travel there by NY Waterway ferry and it was a fairly enjoyable commute. I can remember when the World Trade Center PATH reopened (due to the attacks) and the NY Waterway actually RAISED their ticket prices rather then LOWER them to compete with the PATH! I could not believe that with the impending PATH opening that they would raise prices, they knew that they would be losing some commuters due to the PATH but they raised ticket prices anyway..pushing even more commuters away. Why would any business do this? I say NO BAILOUT for the NY Waterway!

Posted on: 2009/3/15 23:28
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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when I lived in Hoboken, I loved starting my day on the ferry, especially the open-air boats. on a gorgeous day, it was totally worth the extra expense (it was around $5 or $6 then).

it's really the only thing I miss about living in Hoboken.

the JC-to-Midtown ride is on a smaller, older, enclosed boat, and on a hot day, it gets rather sea-sicky, a lot like the PATH train, in fact, so I've given it up.

still miss it, though.

Posted on: 2009/3/15 19:32
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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Even for those that do not ride the ferry on a daily basis, it is a very important backup resource in an emergency. All it takes is one fire, an accident, a Presidential visit to the WTC, construction, etc, and the Port Authority is very quick to shut down the PATH. The ferry has been far more reliable from my perspective in getting me home to NJ from work in NYC when something goes wrong.

The Port Authority needs to acknowledge that the PATH has not been 100% reliable, as further evidenced by their willingness to shut down the WTC station during weekends to allegedly speed up the construction schedule on other projects there.

Posted on: 2009/3/15 18:48
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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The ferry drives me crazy. They have a route that goes from right near my apartment to closer to my work than the PATH, as well as a free shuttle bus that goes almost directly to my office. It's not at all walkable without the bus, but guess what? The bus only runs at times when the ferry doesn't! And *neither* of them run during the times when I am going to or from work.

Maybe NY Waterway can stay afloat taking people to downtown once the Port Authority stops the weekend PATH service to WTC?

Posted on: 2009/3/15 16:24
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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Maybe there's a story behind the story but at first read there's a bad taste in the mouth. The ferry service and its crews have done a magnificent job over the years. In the US Air landing they performed quickly and well. The crews of these boats along with NY Waterway were acknowledged by the City of New York and were featured on many news stories etc. The management of NY Waterway is miffed that US Air did not acknowledge them. I think that is hardly the case. For sure Sully & his crew thanked them immensely many times over. When one does a good deed for someone it is right to ask that person to pass it on. Yes the ferry is overpriced and yes it could be run more efficiently. That said the management of NY Waterway can find a more tactful way of saying they need a bailout and not suggest that the US Air incident was a contributing factor to its financial problems.

Posted on: 2009/3/15 16:10
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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A lot of the ferry fares are paid on corporate accounts, so they get a discounted fare but its still higher than the PATH.

He is also right that it is a mass transit system that should be subsidized by a public transit company.

Posted on: 2009/3/15 16:05
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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look - it's not waterways fault if dropping us off on the westside highway is inconvenient. fact is, the PATH is convenient and cheap. The ferry is not and not.

if i work on the east side, or in the flat iron area, or in the east village, or pretty much anywhere, getting off at a ferry terminal in NYC means starting a commute all over again. who needs the hassle?

survival of the fittest.

it sucks but it makes sense.

Posted on: 2009/3/15 15:55
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Re: Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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Did Waterways ever think that charging $8 EACH WAY compared to the PATH that is about $1.80 each way may be one of the reasons why? But instead of management thinking of ways of lowering the prices, they want to sue US Airways....good idea - not only will they be hated for sounding like such sour grapes, they won't get money from that airline anyway. They have even less money than Waterways....

Posted on: 2009/3/15 15:49
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Ferry sends S.O.S. -- NY Waterway's owner says next berth is Chapter 11
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Ferry sends S.O.S. -- NY Waterway's owner says next berth is Ch. 11

March 15, 2009
Crains New York
By Lisa Fickenscher

When Captain Chesley Sullenberger landed US Airways flight 1549 in the Hudson River in January, NY Waterway ferries arrived at the scene within minutes, fishing 142 of the 155 airline passengers from the icy water. Then the company transformed its ferry terminals at West 39th Street and in Weehawken, N.J., into triage centers.

Two months later, NY Waterway is the one in dire need of a rescue. The firm, which transports riders to Manhattan from Weehawken and other New Jersey ports, could go bankrupt this year. Its situation is so precarious that the company is preparing a lawsuit against US Airways to recoup the expenses it incurred during the rescue effort.

?We are embattled,? says Chief Executive Arthur Imperatore Sr. ?The question is whether we can survive.?

His list of woes is long. Ridership in February dropped 12% from year-earlier levels, to 26,400 daily commuters. Revenue has been declining since autumn and is now off by $800,000 a month. Complicating matters, the company's three-year equipment loan?which expires in September?will not be renewed by its lender, CIT Group, as that financial company moves to minimize risk.

Mr. Imperatore wants a public agency, such as NJ Transit or the Port Authority of New York & New Jersey, to acquire his company. He argues that the commuter ferry business is part of the mass-transit system and should be supported by public funds. He is likely to file for bankruptcy if he doesn't get his wish.

Captain Robert O'Brien, the U.S. Coast Guard's most senior official in New York, is concerned about NY Waterway's financial troubles.

?They are generally the Good Samaritan that responds to any emergency on the water,? he says.

During the 2003 blackout, the firm ferried 150,000 people out of Manhattan for free, forfeiting more than half a million dollars in fares. It also helped move people out of Manhattan on Sept. 11, 2001, and during the 2005 transit strike.

After the US Airways crash landing, NY Waterway was unable to operate some of its routes for nearly 48 hours. In addition, it paid employees overtime and incurred other expenses that it's still assessing as it prepares its claim against the carrier. Apart from the monetary issue, Mr. Imperatore is miffed that the airline's senior officials have yet to acknowledge his company's role.

Mr. Imperatore, the youngest of nine children, made his fortune in the trucking business. The 83-year-old multimillionaire started the ferry service 20 years ago after purchasing two miles of waterfront property in Weehawken, N.J., hoping to lure residents to the community.

To keep it afloat, he has spent his own money, including $20 million in the past three years alone.

Bailed out before

The last time Mr. Imperatore's venture ran into serious financial trouble, in 2005, real estate lawyer William Wachtel bailed it out. He took over 16 of the company's 34 boats?including the debt payments?and formed a separate company, BillyBey, which pays NY Waterway licensing and management fees to run that business.

Mr. Wachtel says that while ridership is down on his routes from Hoboken and Jersey City to the World Financial Center, BillyBey is ?not in financial straits.? Nevertheless, he says it makes sense for a public transportation system to run the ferry business. ?If public agencies see this as a good time to take over, then it's a vision I can embrace,? says Mr. Wachtel.

It's unclear whether government agencies agree. A spokesman for the Port Authority says, ?We have a strong commitment to a healthy regional ferry service, and we have ongoing discussions with our partners,? but he declined to elaborate on specific talks with NY Waterway.

Mr. Imperatore doesn't relish ceding the company to others, but he simply can't support it anymore.

?I don't have any more money to invest,? he says. ?It's like a bottomless pit.?

Posted on: 2009/3/15 13:20
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