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Biggest Bike Share in Trouble?

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Associated Press
Published 10:18 pm, Friday, March 21, 2014

The Times Union reported troubles with the CitiBike program related to financial health and ongoing software/operational issues

NEW YORK, NY - MARCH 21: Citi Bike users pedal through the streets of Manhattan on March 21, 2014 in New York City. The leaders of Citi Bike are trying to raise millions of dollars to keep the money-losing bike-share program in business, following a severe winter which greatly reduced bicycle usage in New York City. (Photo by John Moore/Getty Images) ORG XMIT: 480247795 Photo: John Moore / 2014 Getty Images

"The city's nearly year-old bike-sharing program is apparently facing a serious economic situation, Mayor Bill de Blasio said Friday, and he wants to help — but there are no plans for New York City to contribute funding to the program known as Citi Bike

"I know that we value, I certainly value, Citi Bike," de Blasio said. "I think it's proven to be very helpful to a lot of people in this city. We hope to expand it to the outer boroughs. But they do have real economic challenges that they're facing."

De Blasio was responding to a report in The Wall Street Journal that said the privately funded bike-sharing system needs to raise tens of millions of dollars if it is to survive."

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