METRO is broke (cont’d)

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NEARLY TWO WEEKS after the Examiner‘s Michael Reed reported on METRO’s deteriorating financial situation after analyzing June/July 2010 financial information, METRO’s PR wing at the Chronicle concedes today that METRO’s (and, by extension, the Chron‘s) previously “sunny outlook” has now been “replaced by warnings of fragile finances.”

Last Friday, Paul Knight revisited one aspect of METRO’s financial mismanagement under the Bill White era management team: The questionable process by which Frank Wilson consummated a $118 million deal with Spanish rail-car vendor CAF.

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