Evocative Cal Cable Book Worth a Read

Book cover for San Francisco's California Street Cable CarsNothing evokes vanished San Francisco more than the old California Street Cable Railroad Company, more familiarly known as “Cal Cable.” This private company, founded by Leland Stanford, operated cable cars from 1878 to 1951, when it went bankrupt and was taken over by Muni. After that, politicians effectively dismembered it, and we’re still talking about whether its remnants can be improved.

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Muni Derailed by Wall Street?

The Los Angeles Times ran a troubling story saying that many large transit agencies, Muni among them, could face big-time financial problems because of rail car lease deals gone sour in the current economic meltdown. The Times noted that between 1980 and 2003, many transit properties sold their rail cars and leased them back, reaping a one-time cash infusion. But in the case of the Los Angeles Metropolitan Transportation Authority, at least, the leases — with the troubled financial services giant AIG — may have to be paid back suddenly, which would require drastic service cuts.

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