[ by Melanie Gretchen ]

Goldman Sachs finally launched its new ferry service operation, that crosses the Hudson River linking the World Trade Center Area with Jersey City,  The service was expected to begin 2 years ago, after Goldman shelled out $5 million for 2 custom-made ferry boats - quiet, smooth, luxuriously appointed - that passed inspection. The boats are named "York" and "Jersey."

The big secret - like many other aspects about the firm - is why there was a 2-year hiatus.  So far, no one is talking.  This much we know - Goldman apparently intended the ferry service for its personnel - to transport them between the firm's NY and NJ office building locations.  Two years later, the ferries are required to provide service to non-Goldman riders - a condition for Goldman's ferries to use publicly-owned piers.  A one-way crossing costs riders $6 apiece.

What happened since then?    Additional details may explain the delay  Apparently, private funding of a public service is inherently prone to delay.  Goldman ordered the 72-foot-long catamarans to improve the experience of crossing the water that separates its headquarters in Battery Park City and its office tower on the riverfront in Jersey City.  Furthering the "private" nature of their presence is the operation by private ferry operator, the BillyBey Ferry Company.

And yet, because they boats land at a public pier near the World Financial Center, they would would not fly New York Waterway flags, as their predecessors did; nor would they bear the ferry service’s name or logos.  Going forward, the boats would follow the New York Waterway schedule and fares for the route.

For his part, even BillyBey president Paul Goodman said he was sworn to keeping Goldman’s secret about the delay.  When asked by the Times, Mr. Goodman was reluctant even to describe the interiors of the cabins for fear of endangering his charter contract by upsetting Goldman executives.  Peeking out of the cloak of secrecy, Ms. Galvin was accommodating when it came to the boats' benefits:

"We’re pleased to have these environmentally friendly, efficient boats in service. We think they benefit Goldman Sachs employees and the downtown community."

For further details, go to [NY Times, 2/19/13].