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Yesterday, the Peninsula Corridor Joint Powers Board, which owns and operates Caltrain, elected Ken Yeager as chairman and Tom Nolan, vice chairman.

Yeager, who will hold the position for a second term, represents the Santa Clara Valley Transportation Authority on the board.

Nolan, who chairs the San Francisco Municipal Transportation Agency's board, is the founding chair of the joint powers board and was instrumental in the acquisition of Caltrain in 1991.

The board also released Caltrain's performance statistics for November, when average weekday ridership increased 12 percent year over year to 47,326. On-time performance improved to 91 percent versus 83 percent in October.

The ridership increase resulted in a corresponding increase in farebox revenue of $3,969,762, or 15.6 percent more than budgeted. Expenses declined 3.5 percent in November.