Bikeshare in trouble in New York

From the New York Post:

Citi Bike honchos need tens of millions of dollars to save the struggling bicycle-share program---but Mayor de Blasio said Friday that it won’t come from the wallets of New York City taxpayers.

“At this point, city budget money is not on the table,” he said. “We will collaborate with them to help them find ways to be more efficient and more effective.”

The program was launched last year with a promise from Mayor Michael Bloomberg that it would not require public funding.

But lawsuits, glitches and a lack of use have made Citi Bike’s first year a rough ride — and the program needs a small fortune to stay in business, The Wall Street Journal reported Friday.

Alta Bicycle Share, Citi Bike’s parent company, could generate revenue by raising the annual membership fee of $95, but a City Hall source said that can’t happen until it fixes its operations...

Thanks to Diehipster.com for the link.