Well…It hasn’t been made absolutely official but it appears that FEC is soon to be part of the RailAmerica network of shortlines and regionals.
Word has gotten around in certain circles of FEC’s rank and file that RailAmerica managers are on their way to FEC headquarters in Jacksonville at the behest of their bosses at Fortress. During my most recent outing at Fort Lauderdale yard I was asked by a conductor if I was with Fortress; I of course replied no, just a railfan. He told me that people from Fortress have been around taking pictures of [their] new property.
Those here who actually read “Trains” knows that Fortress Investment Group bought both RailAmerica and Florida East Coast Railway earlier this year. Now, I don’t really know very much about RailAmerica, only that it is the result of the consolidation of over 40 shortlines and regionals in 25 states and 3 Canadian provinces within the past 21 years. Ironically, their headquarters are right here in Boca Raton, Florida, a city served by FEC. Coincidence, I think not.
The FEC is a company that has been around for 112 years. It has seen it’s share of hard times having filed for bankruptcy protection once, I believe, only to rebound and eventually become sucessfully profitable. It’s sale to Fortress was said to be in the ballpark of $3.5 billion dollars.
Either way, things at FEC are going to be changing very soon.