MTA lays off 1000 people while Titan Outdoor owes money to MTA
February 23, 2010
More than 1,000 layoffs are expected as the MTA is trying to cope with dwindling revenue and an advertising agency that refuses to pay the bills. WCBTV is reporting Even though Titan outdoor owes the MTA $18,000,000 that may have saved many of them their jobs.
Enjoy it people, you’re losing your job so Titan can keep theirs.
So what’s the real story? An article written by Daily News calls Titan “deadbeat”
“Titan Outdoor Holdings has stiffed the MTA out of about $18 million, coming in short with its monthly payments for nearly a year and engaging in some questionable accounting, an internal Metropolitan Transportation Authority audit revealed.”
Hot stuff… yet now 1000 people are getting canned so Titan can keep the contract… even get it extended?
Someone explain the logic to me? I am at a loss. Why can an advertising agency / media company / whatever you wanna call it / get away with this whereas 1000 people were just shown the walking papers.
These people will be entering into a great depression like economic environment where the U-6 unemployment rate is nearing 20%.
The chances are remote that any of them will find jobs in a reasonable time frame.. well Titan might be hiring, they got $18,000,000 laying around in a bank somewhere.
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