Some Profs at UBC did a study of Canadian Crown Corps that were privatized in between 1985-1997 (think, Air Canada, CN Rail, CAMECO, Potash Corp, PetroCan plus a bunch of others) and found that post privatization the companies increased profits, decreased debt ratios and improved efficiency fairly dramatically. CN Rail used to require hundreds of millions in annual subsidies and was constantly loosing market share, now it is one of the biggest and most efficient railway operators on the continent with healthy margins and expanding market cap. A similar World Bank study in '97 found that of 60 privatized companies in a dozen or so countries, on average efficiency rose by 11%, output by 23% and profitability by 45%.
The TTC seems to operate at oddly unhealthy levels. It's just one example, but the very idea of booth monkeys earning six figure salaries is preposterous. No private sector equivalent would pay such a low skill job more than min wage. I'm even surprised a public company would pay that much. I mean, the TTC's labour force shot up by 25% since the '80s, despite ridership falling for most of the time and only recently coming close to earlier highs. Productivity has somehow fallen, which is to my knowledge one of the few examples of a modern workforce declining in productivity.