Barnard Professor of Urban Studies Owen Gutfreund Comments on the Possible Transit Strike on PBS Nightly Business Report

New York, NY, December 16, 2002— Barnard Professor Owen Gutfreund commented on the looming transit strike on PBS’s Nightly Business Report on Saturday.

The show’s host, Erika Miller, said that the losses in business activity alone could cost the city as much as $370 million a day. Of that, $320 is expected to be lost in worker productivity, in addition to the $50 million in retail sales.

Commenting on the possible devastating impact of the loss of merchant sales and productivity losses for the city’s businesses, Gutfreund said: "We’re trying to hold things together, awaiting a national recovery with a local economy that has been weak for now 15 months or more. And this is a time when every downward pressure will have exaggerated effects, and the recovery time is likely to be extended."

In an article, titled Let’s Talk Token Utopia, Gutfreund also commented on the peak fares for rush-hour tolls in Saturday’s Daily News, in support of implementing them. For the full article click here.

Contact: Petra Tuomi, Public Affairs, 212-854-7907