Cubic Corporation Joins Public Transit Systems to #SavePublicTransit

Rhea-AI Summary

Cubic Corporation (NYSE:CUB) is collaborating with the American Public Transportation Association (APTA) to address the financial crisis in the public transportation sector. The organization is advocating for at least $32 billion in emergency funding from Congress to support transit agencies affected by the pandemic. Leaders from Cubic emphasized the importance of public transit for economic recovery and job stability. The company is committed to helping partners develop resilient transportation solutions amid ongoing challenges.

Positive

• Cubic is actively advocating for $32 billion in emergency funding for public transit, positioning itself as a leader in the industry.
• The company's commitment to supporting public transportation aligns with its purpose-driven mission, potentially enhancing its reputation.

Negative

• The severe financial crisis in public transit may affect Cubic's business if funding is not secured, risking the viability of transportation infrastructures.
• Cubic's revenue from transportation systems might decline due to the ongoing impacts of the pandemic on public transit services.

Cubic Corporation (NYSE:CUB) today announced it is joining fellow American Public Transportation Association (APTA) members and industry partners to collectively fight to #SavePublicTransit with a day of mobilization and engagement. Organized by APTA, #SavePublicTransit Day shines a light on the dire financial crisis facing the public transportation industry and urges elected officials to take immediate action.

It is critical that Congress move forward and provide emergency funding for public transit in the “lame duck” session before Congress recesses for the holiday. The industry is calling on Congress and the Administration to provide at least $32 billion in emergency funding to ensure that public transit agencies can survive and help our communities and nation recover from the economic fallout of the pandemic.

“We are a purpose-driven company that strives to make a positive difference in the lives of our people, our customers and the communities in which we serve,” said Bradley H. Feldmann, chairman, president and chief executive officer, Cubic Corporation. “Americans across the country rely on public transportation every day to get to work, school and access basic services. It is absolutely crucial that our country invests in public transportation to prevent reduction in transit services, ensure job stability for frontline workers and help the nation’s economy recover.”

“While the pandemic has caused disruption in all industries, we have seen the devastating effects of the Covid-19 pandemic on public transit services as we work side-by-side with our partners,” said Jeff Lowinger, president of Cubic Transportation Systems. “The unexpected shortfall in revenue is threatening the viability of our transportation infrastructures across the nation, we must encourage everyone to help save public transit.”

As public transit struggles to survive the effects of Covid-19, Cubic is committed to saving public transportation and helping our transit partners create safe and resilient cities.

About Cubic Corporation

Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness. Our teams innovate to make a positive difference in people’s lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit www.cubic.com or on Twitter @CubicCorp.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201215005900/en/

FAQ

What is Cubic Corporation advocating for regarding public transit funding?

Cubic Corporation is advocating for at least $32 billion in emergency funding to support public transit agencies facing financial crises due to the pandemic.

How is Cubic Corporation involved in the #SavePublicTransit campaign?

Cubic Corporation is participating in the #SavePublicTransit campaign organized by APTA to highlight the financial struggles of public transit and push for governmental support.

What impact does the pandemic have on Cubic Corporation's business?

The pandemic has caused a revenue shortfall in public transit, threatening the viability of transportation services and potentially impacting Cubic Corporation's revenue.

Who is leading the advocacy efforts at Cubic Corporation for public transit?

Bradley H. Feldmann, chairman and CEO of Cubic Corporation, is leading the advocacy efforts for public transit funding and emphasizing its importance to economic recovery.

When is Congress expected to take action on public transit funding?

Cubic Corporation urges Congress to act during the 'lame duck' session before the holiday recess to secure emergency funding for public transit.