KEEP YOUR PROMISES, CAP METRO!
●Wasteful spending on executives - The Board authorized a generous golden parachute for former CEO Fred Gilliam that doubled his pension. Even though Gilliam served for only 8 years, he was credited for 35 years of service - more than doubling his pension to almost $90,000 per year (Austin American-Statesman 4/25/10).
●Mismanagement of the MetroRail line from the start - Due to poor planning the rail project ended up costing more than twice the original estimate of $60 million (Austin American-Statesman 5/25/11). $30 million was supposed to have been provided by federal government; however Capital Metro failed to secure the grants (Austin American-Statesman 3/6/10).
●Unnecessary spending - Capital Metro used the reserve funds on the building of new park-and-ride lots and a new maintenance facility further contributing tot he agency's money problems (Austin American-Statesman 5/24/11).