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As previously disclosed, the company was initially notified by Nasdaq on October 24, 2023 that the company was not in compliance with the Bid Price Requirement for a period of 30 consecutive business days.
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As president, Brent Phillips will lead the sales, assembly, procurement, and engineering teams, while also clearly setting the direction and expansion of the company's sales and operations programs.
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The new lanes will move 50,000 weekly bus riders through the congested Sepulveda Blvd. corridor while improving bus speeds by 15% or more and increasing service frequency.
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The changes to the bus schedules will be implemented as part of the agency’s scheduling process, whereby bus employees are able to “pick” their work assignments at designated times throughout the year.
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The funding is aimed at reconnecting communities cut off by transportation infrastructure decades ago, leaving entire neighborhoods without direct access to opportunity, like schools, jobs, medical offices, and places of worship.
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The Draft Environmental Impact Statement, an important step in an applicant’s process to potentially receive federal funding, allows government agencies and the general public to review the proposed project and provide comments.
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CapMetro will represent Keolis’ largest bus contract in the U.S. and build upon significant contract growth in the last year.
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The budget gap is a result of several factors, including lower ridership revenue that is still recovering from the pandemic, the depletion of federal pandemic relief funds, a subsidy credit provided to jurisdictions in 2020, and historic inflation.
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The report makes near-term recommendations that can provide immediate relief to WMATA and the Virginia localities that provide funding to WMATA, as well as critical actions that must be taken in the coming months.
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The final report shows an increase in customer boardings and estimates a reduction of approximately nine million vehicle miles traveled during July and August.
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