Public Transit: NYC’s $16 Billion Subway Line Costs

CNBC (May 13, 2023) – Public transit can be extremely valuable for a city’s economy – in New York City 85% of the people who travel into the business district below 61st Street take some form of public transportation.

Chapters: 00:00 — Introduction 01:39 — Second Avenue Subway 06:45 — A national problem 08:37 — Subway costs 15:31 — Solutions

In several major cities – New York, Boston, Washington, D.C., and San Francisco – the subway and other rapid rail systems are key contributors to the prosperity of the city. In NYC for example, more than $37 billion of the Metropolitan Transportation Authority’s $54 billion budget goes to subways. But building subways in the U.S. is very expensive.

In fact, it’s the sixth most expensive country to build rail transit in the world. And even that is likely an understatement. High labor costs, overbuilt tracks and stations, and onerous regulations all jack up costs. NYC’s sheer population density makes it rather worth it – so many people ride the subway that the cost per rider is comparable to many European cities where total expenditures are substantially lower.

However, the high costs hurt the case for public transit in less dense areas of the country. Lowering those costs could go a long way toward building affordable and accessible public transit for smaller cities around the country and reducing traffic congestion, pollution and traffic accidents.


World Economic Forum: Top Stories- May 13, 2023

World Economic Forum (May 13, 2023) – This week’s top stories of the week include:

0:15 This volcanic bacteria eats CO2 – Scientists say they turn CO2 into biomass ‘astonishingly quickly’ and one day could help remove CO2 from the atmosphere. The microbes were discovered off the coast of the Italian island of Vulcano where the ocean is rich in CO2. They bubble up from volcanic vents on the seafloor. The microbes were discovered by scientists from the Two Frontiers Project who found that the bugs sink in water which could help to sequester the CO2 they absorb.

1:35 This Japanese soccer league is over 80s only – It kicked off in April with 3 teams going head-to-head boasting an average age of 83.5. Among the players is ex-national team forward Mutsuhiko Nomura. His career has spanned 70 years and 18 World Cups. Now, aged 83, he patrols the midfield for Red Star. But the league’s veteran is Shingo Shiozawa. The former racing car designer plays in net for the White Bears at the tender age of 93.

3:19 Why we need economic growth – Economic growth may not be the only measure of success but in many countries, it saves lives. But economic growth need no longer happen at the expense of the planet.

6:38 Women need investment, not just empowerment – Non-profit Grameen Foundation is helping millions of people lift themselves out of poverty by teaching women how to manage money, access loans and manage their businesses. Most importantly, Bai says, women need to have the knowledge to ask the right questions.


The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

Travel In Serbia: What To See And Do In Belgrade

DW Travel (May 13, 2023) – Belgrade, the former capital of Yugoslavia, is a real insider tip for a European city trip. With 1.7 million inhabitants, the Serbian capital is one of the largest cities in Europe.

Video Timeline: 00:00 Intro 00:36 Brutalist architecture 01:08 Genex Tower 01:48 Skadarska street 02:03 Dva Jelena restaurant, eat Karađorđeva schnitzel 02:42 Belgrade’s nightlife 02:55 Cetinjska 15

Belgrade is the capital of the southeast European country of Serbia. Its most significant landmark is the Beogradska Tvrđava, an imposing fortress at the confluence of the Danube and the Sava rivers. The fort is a testament to the city’s strategic importance to the Roman, Byzantine, Ottoman, Serbian and Austrian empires, and it’s now the site of several museums as well as Kalemegdan, a vast park. 

Saturday Morning: News And Stories From London

Monocle on Saturday, May 13, 2023: The weekend’s biggest discussion topics, with Georgina Godwin. Siân Pattenden reviews the papers, Andrew Mueller recaps the week and Monocle’s Helsinki correspondent, Petri Burtsoff, brings us a taste of Finnish Eurovision mania.

Plus: Taipei Dangdai art fair.

The New York Times Book Review-Sunday May 14, 2023



Abraham Verghese’s Sweeping New Fable of Family and Medicine

This illustration, in shades of deep green, shows a young woman standing at the edge of a lush landscape with ferns or palm fronds surrounding her and joining above her head.

“The Covenant of Water” follows three generations of a close-knit and haunted family in southwestern India.

Pablo Picasso, the Pariah of Paris

This sepia photograph of a young Picasso shows him standing in front of a run-down Parisian building.

As Annie Cohen-Solal shows in “Picasso the Foreigner,” the Spanish master was always under suspicion in France, simply for being not-French.

By Holland Cotter

Front Page: The New York Times —- May 13, 2023


Border Is Calm as Crowds Cross and Biden Administration Fights Court Ruling

Migrants were searched by Customs and Border Protection agents before being taken to a substation in El Paso, Texas on Friday.

Despite the relative calm, the Biden administration faces court challenges that they say may undermine efforts to deal with record levels of border crossings.

In Migrant Camps, Anxiety and Relief: ‘It Was Worth It. We Are in America.’

Migrants wait to be processed in a camp on a patch of U.S. land between Tijuana and San Diego on Friday.

Pandemic-era migration restrictions were lifted without a fresh spike in border crossings. Thousands of migrants now find themselves in a holding pattern.

Turkey’s President Amassed Power. He Could Still Lose This Election.

Turkey’s president, Recep Tayyip Erdogan, has tilted the political playing field in his favor over the past two decades, concentrating power in his own hands. Still, he faces a stiff challenge in Sunday’s election.

Elon Musk Appoints Linda Yaccarino Twitter’s New Chief

Mr. Musk said Ms. Yaccarino would focus on business operations and he would work on product design and technology at the social media platform.

Finance Preview: Barron’s Magazine – May 15, 2023



How a SpaceX IPO Could End Musk’s Uncomfortable Tesla-Twitter Dance

How a SpaceX IPO Could End Musk's Uncomfortable Tesla-Twitter Dance

A Starlink IPO could raise billions of dollars and mean less selling of Tesla in the years ahead.

The New Bank Landscape—and How to Invest Amid the Turmoil

The New Bank Landscape—and How to Invest Amid the Turmoil

Lenders face steep economic hurdles and stiffer regulations. How to invest as the industry reshapes itself.

Space Could Be a Trillion-Dollar Business. Here Are the Stocks to Play It.

Space Could Be a Trillion-Dollar Business. Here Are the Stocks to Play It.

Rocket Lab, Planet Labs, and other companies are high-risk bets on taking business to the final frontier.