I don't think that's true. For nearly all private railroads, both divisions are profitable, though real estate has higher margins.
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Replying to @alon_levy
no, not the profitability--what I mean is they *need* ownership of their own land (at minimum) to do justice to their rail
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Replying to @380kmh @alon_levy
if they were renting their stations, etc, from other landowners they'd be screwed
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Replying to @380kmh
Well, if we're talking about station facilities, then every subway in the world owns real estate.
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Replying to @alon_levy
ya but subways are hardly the only kind of transit out there, you know?
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Replying to @380kmh
Very different from the transportation-real estate synergy that exists in Japan and Hong Kong.
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Replying to @380kmh @alon_levy
American transit providers--even where they DO own real estate--don't think of themselves as developers
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Replying to @380kmh
Translink isn't a developer, but encourages TOD on top of its stations, and this has led to high ridership on SkyTrain.
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Replying to @alon_levy
encouraging development = acting like a developer at one remove; that ridership is good but they could also use the revenue...
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...from handling the development themselves, no?
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