CORP News

CAPFLYER,
All we have to go by is whats published by the media. If the media is wrong, and then make them retracted their statements. Publish the facts in your own defense
So far, neither you nor RA has offered up in hard proof that your company is being treated unfairly in the media or elsewhere.
You seem to be asking us are take your word to the contrary without any evidence and I
don’t believe that’ll ever happen.
inch

 

I post the news stories so we can keep up on whats goin on. I think most of us know the media is not always correctly representing the entire story. It would be interesting to see some .pdf files or links to documents or transcripts so we could also see the other parts of the story. If anybody has any, feel free to add to the discussion.

 

Folks:

Both sides of the issue stubbed their toes badly handling this situation. RA no doubt alerted the State that circumstances were getting bad on the line and taht they needed help, but they really blew it by not giving the shippers enough notice to find alternatives before they shut it down. That was bad.
On the other hand the shippers and the state officials rather than helping to remedy the situation and sit down calmly to discuss options started laying out mandates and did their best to stir everybody up on how bad RA was and that shining stars of the state were going to ride in and hang them. After reading all the media reports I am sure more than one political person got lots of media attention off an easy mark to get him further re-elcted. Certainly not an uncommon situation.
But you know, after reading this whole tale I believe RA got precisely what they wanted as a result of the recent meeting. No doubt what reputation they have or had is pretty well trashed but they now have the ability to negotiate a nice sale price and get out of a costly no win situation and allow someone else to take over the problems. Pretty smart folks. Would I have done it that way? Absolutely not. Would I have gotten out of a money pit and willingly sold it to someone else... in a heartbeat. My condolences to whoever assumes operations. I hope they have a big heart and lots of money or access to money because they are going to need it. As Boxcab has stated, because of the lack of attention to repair or maintainence it will probably be atleast a year before operations can start again. Deep in my heart I hope it all gets resolved and fast so shippers can get service and the line will grow and prosper.

Barry

 

The STB filings for abandonment is online. The attachments contain RA's case for why they are filing for that abandonment. Transcripts of the information is online as well.

The problem I have in the matter is that as an employee of a sister company to the CORP, I get information from several sources which I have found to be reliable in addition to actual corporate finance information that I am not allowed to divulge. I don't care if you don't take my word for what the RA side is. What I'm trying to state is that the media and the propaganda they're printing (since they're simply taking someone's quote and putting it forward as fact and not an opinion) is not giving anything close to a realistic view of what was and is going on. You're hearing politicians talking about the public who's been biased by false media reporting being upset at RailAmerica for doing something that was (to us) purely a safety issue and that when we were told that we couldn't use state funds to repair a serious issue, we did what we had to do to protect our employees. That's the long and short of it. Other posts on here have given links to RA's side of the story, and information from officials whom made public statements on why CORP did what it did.

Again, it was handled the wrong way, but the core issue was legitimate - the tunnels were unsafe and there was no way to feasibly repair them without sinking the entire railroad at the same time without outside help. That outside help didn't materialize and so the railroad to the next action it though appropriate. That action ended up being handled wrong, but then again, I get the feeling from reading some of the claims by the shippers and the politicians, that CORP tried to work with them before closing the line and whether they're done an embargo with 30 day notice or simply filed for abandonment, the fight would have been the same.

 

CAPFLYER,
Could ya please post a link to those STB files? Cause I general don’t have much luck pushin buttons.
Also are those filings going to answer the question I have about after [Lundberg] “28% of the gross profit, 13% above national average” on the line. The tunnels were still too dangerous to use or are we going to have even more questions.
inch

 

If they spent 28% and the line still sucked so bad, then maybe they should have spent more the year before, or the year before that, or maybe spent 30% so they could continue making money long term. Railroads are a long term business and they don't seem very interested.

I get internal reports from my company too. I'd rate their accuracy as about the same as the media's.

Oregon's handing out Rail improvment Money like Candy. I find it hard to believe that in the atmosphere up there, that they really tried hard to get some assistance. It just doesn't make sense in the face of recent oregon railroad history.

 

I think most of us agree that things were done wrong. I think most of us would love to see the line continue in operation. I think most of us would like to continue being informed about what will happen with this line.

It appears steps have been taken to correct some of the things that were done wrong. Filings have now been properly filed and the steps are being undertaken for CORP to abandon the line or sell it to the shippers. The shippers are doin what they can to keep the line in operation.

End of argument. Nothing to attack, nothing to defend.

From here on out, I just like to be kept notified about what is happening, whether it is abandonement and scrapping, sold and operated by a new company, or CORP is forced to repair and continue service, etc, etc. I appreciate any info that comes my way as to these procedings. The end result is all that matters to me.

 

The International Port of Coos Bay has filed a request with the Surface Transportation Board to allow them full access to inspect the Coos Bay rail line.
The complaint filed with the STB states that the Port was only allowed 3 days to inspect 111 miles of rail line and they were not allowed to inspect the troubled tunnels.
Bob Ragon, spokesman for the Coos-Siskiyou Shippers Coalition says “This type of foot dragging will only prolong the potential restoration of rail service to the shippers on the line”.
Still pending is a full STB review is the Ports forced sale application
to buy the line from CORP.
Also pending is the CORP/RailAmerica abandonment application.
The STB is expected to take action on the applications by the end of October.


This week has been active one concerning railroad issues. CORP filed the required response yesterday afternoon with the STB about shipper’s requests for Alternative Rail Service.
Roseburg Forest Products, Timber Products, Suburban Propane and the Yreka Western Railroad filed the request with the STB last week.
Senator Ron Wyden has sent a letter to the STB in support of the shippers filing for alternative rail service.
In the CORP filing the railroad states that the complaint filed against them is not about a lack of service but a complaint about freight rates.
CORP said in the filing to avoid a government mandated solution they are willing to enter into an agreement that would permit another railroad to operate over the Siskiyou’s.
To allow this proposal to happen, CORP has asked the STB to delay any action against them for 15 days. The delay will give the parties times to negotiate a voluntary agreement.