NEWS
 
Bike share program files for bankruptcy protection
Bixi owes City of Montreal $48M
6 0

Montreal's bike sharing service, Bixi, has gone bust.

Bixi has filed for bankruptcy protection, but Montreal Mayor Denis Coderre said Monday that the service is still expected to operate this summer.

However, Coderre said the City of Montreal can't lend Bixi any more money.

Montreal has provided $37 million in loans to Bixi and is covering about $11 million in loans for the Public Bike System Company, which runs the bike sharing service and was created by the city.

``It's not the role of the city to replace private enterprise,'' Coderre told a news conference.

Coderre said while Bixi is a good idea, he has to protect taxpayers since Montreal has ``already done its part.''

Bixi was developed in Montreal in 2008 and expanded internationally to countries such as the United States and Australia.

Coderre says Bixi has been trying to sell its international operations to raise money, but has been unsuccessful so far.

It also operates in Ottawa and Toronto, but Mayor Rob Ford has said Toronto should get rid of the Bixi program because it loses money.

Bike riders can join Bixi for a yearly fee or pay a casual rate for use.

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  1. SCOTT posted on 01/20/2014 07:51 PM
    Rob Ford and Don Cherry are in nirvana...fewer commie pinko cyclists on our streets.

    Death to cyclists...
  2. Neo posted on 01/20/2014 08:24 PM
    Slug: 'bankrutsy'....You go newstalk!
  3. Ernie posted on 01/20/2014 08:34 PM
    Another hair brained idea that cannot live on its own without taxpayer support - don't only let it die but stab it in the heart and turn the blade while you do it
  4. Karl Burgin posted on 01/21/2014 09:26 AM
    At what point will "I told you so" come, when this lovely idea goes belly up? Or will city Councillors keep shoveling more tax payer money into this 'mistake' to make a point- or spite the mayor?
  5. don was right posted on 01/21/2014 11:55 AM
    pinkos at city hall of course pissed 4million into this sinkhole by playing a shell game with Miller crappers and Astral. Brilliant
    1. Frankie posted on 01/21/2014 12:08 PM
      @don was right The $ 4 Million that Astral was supplying to something else will now be wasted on another government hair-brained scheme.

      If Olivia Chow becomes mayor this will be the least of the taxpayer waste.
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6 0

Montreal's bike sharing service, Bixi, has gone bust.

Bixi has filed for bankruptcy protection, but Montreal Mayor Denis Coderre said Monday that the service is still expected to operate this summer.

However, Coderre said the City of Montreal can't lend Bixi any more money.

Montreal has provided $37 million in loans to Bixi and is covering about $11 million in loans for the Public Bike System Company, which runs the bike sharing service and was created by the city.

``It's not the role of the city to replace private enterprise,'' Coderre told a news conference.

Coderre said while Bixi is a good idea, he has to protect taxpayers since Montreal has ``already done its part.''

Bixi was developed in Montreal in 2008 and expanded internationally to countries such as the United States and Australia.

Coderre says Bixi has been trying to sell its international operations to raise money, but has been unsuccessful so far.

It also operates in Ottawa and Toronto, but Mayor Rob Ford has said Toronto should get rid of the Bixi program because it loses money.

Bike riders can join Bixi for a yearly fee or pay a casual rate for use.

Leave a comment:

showing all comments · Subscribe to comments
  1. SCOTT posted on 01/20/2014 07:51 PM
    Rob Ford and Don Cherry are in nirvana...fewer commie pinko cyclists on our streets.

    Death to cyclists...
  2. Neo posted on 01/20/2014 08:24 PM
    Slug: 'bankrutsy'....You go newstalk!
  3. Ernie posted on 01/20/2014 08:34 PM
    Another hair brained idea that cannot live on its own without taxpayer support - don't only let it die but stab it in the heart and turn the blade while you do it
  4. Karl Burgin posted on 01/21/2014 09:26 AM
    At what point will "I told you so" come, when this lovely idea goes belly up? Or will city Councillors keep shoveling more tax payer money into this 'mistake' to make a point- or spite the mayor?
  5. don was right posted on 01/21/2014 11:55 AM
    pinkos at city hall of course pissed 4million into this sinkhole by playing a shell game with Miller crappers and Astral. Brilliant
    1. Frankie posted on 01/21/2014 12:08 PM
      @don was right The $ 4 Million that Astral was supplying to something else will now be wasted on another government hair-brained scheme.

      If Olivia Chow becomes mayor this will be the least of the taxpayer waste.
showing all comments

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