The Public Service Commission is giving further study to its decision to approve a rate increase for the Cruz Bay-Red Hook ferry run.
Tickets would rise 40%, from $5 to $7 one way. The PSC has also said it would cut the price of the Cruz Bay-Charlotte Amalie run 20%, from $10 to $8.
In a public hearing this week to reconsider the rate changes, the PSC heard from just a few residents, according to the St. John Source’s report of the meeting.
Deep in that story, St. John’s Pam Gaffin … a bookkeeper and author … said what so many many people believe: the ferry company’s books are unreliable.
Of course they are. When was the last time you got a receipt for a ferry ticket or anything like a barge trip receipt that could be traced and verified.
Gaffin said that corrected financial statements submitted by the ferry companies “show the companies are making prlofits,” the Source reported. Even though the attorney for the ferries said the boats are losing $1 million a year.
Figures can lie … and …
The PSC plans a second hearing about ferry fares on St. Thomas. In the meantime, the fares stay where they are.
- Read the full St. John Source story here: http://stjohnsource.com/content/news/local-news/2009/09/02/psc-ferry-rate-hearing-focuses-accounting-questions
2 thoughts on “Ferry companies really making money?”
There’s a webcam at the dock and the ferry schedule makes it easy to count the passengers every hour, add em up for a month and you’ll know a lot more than anyone else.
Cool they have a webcam to count customers. Transportation system owners make more money than you’d expect, even in 3rd world countries. The employees don’t though.