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MTA Executive Director and CEO Lee Sander is the man in charge of his agency, or is he? Technically, Sander answers to the MTA board and Dale Hemmerdinger, the board chairman, which is a part-time, unpaid position. But the new MTA rescue plan essentially merges the two positions, something first recommended last year by the Ravitch Commission.

"I've felt, always felt, and concurred with Dick Ravitch that the chairman and CEO position should be combined, so you should have a full-time chair and CEO," said Sander.

But that could leave Sander out of a job. Though he's generally received high marks for his leadership, Sander was appointed by Governor Eliot Spitzer, and there's been speculation Governor David Paterson may want to name his own appointee to run the agency.

"I think it's really up to the governor to decide. This is a really important position in terms of the State of New York, and I really think it's up to the governor," said Sander.

The leadership restructuring is just one way the rescue plan would change the way the MTA does business. It also calls for an independent audit of the agency and would create a new office to allow for more public input.

And, of course, it allows the MTA to hold down a fare increase to about 10 percent and eliminate planned service cuts, much to Sander's relief.

"It feels really good. I think that given the state's economic circumstances, that this is a good outcome, in terms of keeping the fare and toll increases to an acceptable level, and also having the first two years of our capital program," said Sander.

The MTA will spend the next several days crunching the numbers to determine exactly how much it'll have to raise the various fares and tolls. The MTA board will then meet in emergency session to approve the changes, most likely on Monday morning.