Interesting article:
http://www.theglobeandmail.com/news...anding-ttc-over-to-metrolinx/article17906582/
Here's my take on it (as I posted in the comments):
I'm generally in favour of this, but what I'd like to see is Metrolinx merely becomes the "umbrella" corporation. What I mean by this is that Metrolinx would actually be made up of 8 semi-independent corporations:
Metrolinx Planning - basically what Metrolinx' role is today, a comprehensive transportation planning agency for the entire GTHA
Metrolinx Rapid Transit - A transit operations company looking after all RT in the GTHA, including GO, the TTC Subway/RT system, VIVA, and any LRT/BRT lines being built. This will ensure a seamless connection between all RT in the region.
Metrolinx Toronto, Durham, York, Peel, Halton, and Hamilton - 6 transit operations companies that would look after local transit operations in those areas. For Toronto, it would basically be the TTC with a slightly re-jigged org chart.
This organization would allow Metrolinx to present a seamless front to the public and provide a seamless user experience, but the background work would still be done in semi-independent organizations.
As for funding, I'd like to see Metrolinx RT funded completely by the Province (although the TTC RT system actually makes money, so it's debatable how much outside funding will actually be required).
The 6 Metrolinx Locals would be funded by a combination of the Province and the municipality they cover. For single-tier municipalities (Toronto and Hamilton), the funding mechanism wouldn't change. For two-tier municipalities with a regional transit system (York and Durham), the funding mechanism wouldn't change. For Halton and Peel, their funding model would switch to those like York and Durham, with the lower-tier municipal systems being merged.
This setup, IMO, provides a nice balance of cohesiveness on a regional scale, but still addresses local concerns and lets municipalities keep some control over their local transit systems.