Regulatory panel says the railroad promoters’ application was ‘incomplete’
http://trn.trains.com/news/news-wire/2017/08/31-great-lakes-ended
I guess $151.00 doesn’t buy you what it used to!
Seriously? $151 bucks? Embarrassing.
THOMAS & FRIENDS™ “DIESEL” LIONCHIEF™ READY-TO-RUN SET
http://www.lionel.com/products/thomas-friendstm-diesel-lionchieftm-ready-to-run-set-6-30221
This costs $200. Could they finance the rest with $151 in the bank?
If they could finance the purchase, it would be more valuable than what they propose in the 12 inch to the foot scale
Guess they thought if the Pacific Imperal Railroad could do it …
No big deal, all they have to do is to refile meeting the boards requirements. That isd what they have lawyers and accountants for.
Well, I think that PIR maybe had more than $151 in the bank…not much more…but enough “pie in the sky” to rival Marie Callender’s baking output.
Dang, now I’m hungry for pie!
One fears the project was less Marie Callender and more Betty Crocker…
Amazing what a misplaced decimal can do…$151.00 (vs.$151) . With those available funds, the ‘Promoters’, GLTC, et al., did not have enough funds to buy a plane ticket out of Illinois. [:S] Which they would have probably would have needed at some point…
I think, it was at some point earlier, in this discussion BaltACD, made a statement that the “… GLTC was a solution in search of a problem…” { possibly, a search for another ‘Golden Fleece’?}. After all, it is in Illinois(?).[:-^]
Maybe for 151 bucks they could invest in a brass spike (brass, because you wouldn’t want to use “bleeping golden” in Illinois), to be placed, with appropriate fanfare, at the completion of a major CREATE project, such as the 75th Street corridor, which might help perform the funcion desired by the GLB (open to other suggestions for location). Make sure the place is known, and the spike maintained and replaced as necessary as “the GLB Memorial Spike.”
There may be enough shell casings around the area to melt down for the brass.
[(-D]
As Benjamin Braddock declares to his father’s suggestion that his plan to wed Elaine Robinson sounded kind of half-baked: “Oh, no, sir, it’s completely baked.”
Too bad the plan is kuput. From a hobbiest perspective, it would have been neat to watch a brand-new railroad be built. I mean, COME ON! A brand new railroad!
One wonders how much the Union Pacific and Central Pacific had in the bank before the government offered the about $55 million in bonds to build the roads. Focusing on the amount of money a venture has is silly. They won’t get funding until approvals by various agencies. Agencies should not dismiss a venture for funding they cannot get until approved. Catch 22 all over again.
I suspect UP & CP each had more the $151 ‘free cash’ available before seeking and getting the US financing to further their efforts.
The old saying, ‘It takes money to make money’ certainly applies to railroading. Just like getting any loan, you have to have such a financial position that you could ‘possibly’ do what you want the loan for, without gettng the loan. Those making the loans desire to be paid back - WITH INTEREST! If you don’t present yourself as being able to do it, you won’t get the loan.
Balt,
An ‘old saw’ comes to mind. It basically said that to obtain a loan you had to prove to the lender that you didn’t really need the money. Today, many interests are seeking federal funds for various sundry projects; some of them worthwhile, others not so much.
Although I’m not experienced in that area I can’t help think that anything that would reduce the congestion in Chicago would be of benefit to not only the railroads but the entire economy. Reduced travel times would result in lower costs for the railroads and hopefully consumer prices.
But it brings to mind whether the new railroad can be privately financed and be profitable or whether taxpayer assistance is required. If the former, I’m all for the bypass. If the latter, taxpayers have taken enough beating from past experience to wish to opt out.
The problem most don’t see about the operation of Chicago - It is the actual destination for a high volume of the traffic that enters the city. Additionally the through traffic doesn’t just go to a single carrier upon leaving the city and those carriers departing Chicago go in multiple
$151.00? Gee the cheapest Lionel train set is $250.00.
Now really they did find about 1.5 million dollers in investment capital but that is still short because its about 500,000 to a 1,000,000 a mile on existing right of way to build track.
Couldn’t some of that traffic be diverted to a location, or multiple locations where through trains experienced no delay? I’m thinking of a ‘neutral zone’ ala Conrail where transfers and hand-offs take place. Wouldn’t that help clear the congestion in Chicago? The proposed railroad may not be the answer but there has to be a solution somewhere. Not perfect, but it seems to have merit at this time.
Exchange between the eastern and westrern roads at Chicago is not set in stone. There are other options that may benefit all.
Can someone explain why the J or CN Loop is not working?