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September 23, 2008

Marbleheader's finance acumen suits board to T

By Alan Burke

MARBLEHEAD — Marblehead lawyer Ferdinand Alvaro, 56, has been named to the financially troubled MBTA's nine-member board of directors. His mandate will include tackling the transportation agency's budget.

"One of the challenges facing the T is in the financial area," Alvaro said following his appointment. An enormous portion of the agency's income goes to debt service, he said. "One of the challenges is controlling the budget and how to deal with that."

Explaining that he has had no previous relationship with the governor, Alvaro cited his experience in finance as the reason he was chosen for the unpaid job. He has dealt in financial transactions all over the world and worked as chief executive officer of the Cantarell Nitrogen Co., a consortium of international companies organized to develop a $1 billion infrastructure project in Mexico from 1997 to 1999.

The New York-born Alvaro is a graduate of Harvard Law School and a partner at the Boston firm Adorno and Yoss.

"Mr. Alvaro brings a wealth of business experience and understanding to the MBTA's board of directors," said Gov. Deval Patrick in a press release. "We welcome his contributions."

The appointment comes only days after the selectmen considered a request by its MBTA representative Rick Patoski to decrease bus service in the town as a way of improving the agency's efficiency, and perhaps decreasing the town's assessment.

Board members decided unanimously to leave the service as it is. "Unless we're going to see a reduction of the fee," said member Bill Woodfin.

And when Town Administrator Tony Sasso pointed out that this was precisely what Patoski was suggesting would happen, a skeptical Woodfin replied, "I don't believe it's going to happen."

For his part, Alvaro said that he cannot do much officially for Marblehead or the North Shore in his new position, but he will bring an appreciation of the area and its transit difficulties to his new job.

"Certainly, I can lend a sensitivity," he said.

Alvaro conceded that he does not take the MBTA to work every day, "But I do ride the Red Line and the Green Line pretty regularly." He said he and his wife have also used the town's bus service on occasion.

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