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Monday, September 29, 2014

Chinatown Bus Update

Chinatown Bus Pioneer Fung Wah Strangled by Federal Bureaucracy - Reason Magazine
The company has burned through $3 million, as regulators spend a year and a half deliberating its fate.

And some history on what happened:
Why the Government Was Wrong to Shutdown Fung Wah Bus Company - Reason Magazine

My guesses:

  1. High profile traffic accidents made for great copy by journalists, and created a perceived emergency where the government had to act.
  2. It's easier in the government, and less risk, to do nothing, than make a decision. Think what would happen if an agency approved Fung Wah operating again, and there was a big accident.
  3. The large competitors, Grey Hound, etc. are politically connected and are helping regulators to reduce competition.
  4. The ethnic Chinese owned companies due not understand how the political game is played. Campaign contributions, when done legally and to the right people, seem to help the process in government.

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