Uber vs. Taxi vs. Bike Shows Mass Transit Failure

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July 8 (Bloomberg) -- Global Gateway Alliance Executive Director Stephen Sigmund and Bank of America Merrill Lynch Senior U.S. Economist Michelle Meyer discuss New York City Uber pricing on “Bloomberg Surveillance.” (Source: Bloomberg)


The organization was founded by a realty developer to bring attention to these kinds of issues.

Sometimes you need to perform stunts.

Like writing a speed bike to laguardia.

We had seven people take different forms of transportation to get lip -- to laguardia.

Taxi, uber, airport transportation, and i wrote a city bike.

-- rode the city bike.

Did you wear a helmet?

I did.

I got there and 49 minutes.

You followed all the traffic rules?

I followed all paths.

Some of the red lights were little but optional.

In the middle of my ride, i did have an nypd cruiser notice i went through a red light and follow me for a few blocks.

You work for the port authority.

You are uniquely qualified to talk about why america has lousy infrastructure.

If uber destroys these industries with lower prices come does that -- prices, does that assist us?

Your point is right.

The mass transportation infrastructure needs to get better.

We show that double transportation -- we need public transportation access to our airports, particularly laguardia.

It is the only closed in business airport that does not have a direct transportation link.

The mta try to create some links, but there is no mass transportation link.

It highlights a larger problem.

We have completely underinvested in mass transportation infrastructure and it asserting the business community and people and passengers.

We tried the experiment going out to jfk.

We put out a monorail but you have to make three transfers.

This thing was how many billions.

What are we doing wrong?

You don't have one seat ride.

Every time, you have to transfer you lose passengers.

Even air train, which you described, to jfk, the transfers.

There is not a direct transfer platform.

You have to get off, walked down, walk.

We have talked about building a flyover.

A simple 200 foot connection.

Michelle meyer with us from bank of america merrill lynch.

Can infrastructure boost the nation's economy?

Of course.

That was a focus of a lot of the fiscal stimulus we saw during the heart of the recession.

Pumping money into the economy, build out infrastructure.

That helps in terms of hiring and investing in real time, but it has benefits and multipliers down the line.

It can make things more efficient, if it can make transportation run more smoothly.

It will be beneficial for the economy.

That was one thing we started to see.

It arguably did not go far enough.

A lot of people say we did not invest enough in wi-fi, as well.

New york city airports now offer 30 minutes of free wi-fi.

Why are they limiting it to 30? it took about a year and a half of work to get that 30 minutes.

The port should be credited for getting the contractors there.

It is being limited to 30 because there was a terrible situation in 1999. i want the answer.

With all of these agencies and all of that, what is the number one constraint to better trends like switzerland or better airports like heathrow?

Heathrow was down in the dumps and they rebuilt it.

Why can't the port authority or in chicago or lax -- sfo is worst in class.

Some parts are pretty good.

What are the constraints?

Money, commitment, and the federal government.

Because the aviation system and the train system -- because it is an integrated national system, you have to have the federal government spend money and make a commitment.

There is a satellite system for air transportation, nexgen, you have to spend the money in the time and the commitment to get nexgen in 21st century technology.

Given your perspective on infrastructure and logistics, uber price cut.

How does this percolate through the whole network and disruption?

I think it is a very interesting move.

We use uber.

There was a technical glitch is the reason it came in third.

The apps it not work particularly well.

There are issues that uber and technologies like them need to work through.

But they can be very transformative.

Particularly outside of the manhattan core.

Quite transformative.

If it is priced right.

I know michelle and i are addicted to uber.

Six hours later you get the little e-mail, you look at the price, you say, you're kidding me, that is all it was?

The trick there is that you do not have to deal with any of the pricing while you are on the ride or right afterward.

No cash.

The ride ends up being more expensive, it is six hours later, so it is like, oh.

[laughter] thanks for writing -- riding

This text has been automatically generated. It may not be 100% accurate.


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