Gov. Rick Scott Rejects Funding for High Speed Rail.

[DiveCon]

Are you saying that the private investors would not accept $1.25 Billion of government funding for a program they would like to see completed?

I find that hard to believe and if that is the case, then the private investors you are speaking of are "Off their frigging rockers"!

Immie

you would put your money in something that the government was going to do anyway?

The $1.25 Billion is a far cry from what it is going to take to build this. If the government gives that kind of money (tax-free) and the private investors are not only going to benefit from the "gift" but keep the revenue for themselves? Hell yes!

Edit: especially, if the government will cover any losses as they are wont to do with Amtrak!

Immie

sorry, but i wouldnt go into business on something like that with that much government money involved
you lose control

 

[Immanuel]

you would put your money in something that the government was going to do anyway?

The $1.25 Billion is a far cry from what it is going to take to build this. If the government gives that kind of money (tax-free) and the private investors are not only going to benefit from the "gift" but keep the revenue for themselves? Hell yes!

Edit: especially, if the government will cover any losses as they are wont to do with Amtrak!

Immie

sorry, but i wouldnt go into business on something like that with that much government money involved
you lose control

What? Do you think the government has any control?

If they are footing the bill for losses and I keep the revenues? Damn right I am going to think seriously about going into business like that.

Who says they are going to control anything? They will provide the seed money. The private investors will get the revenue. Should things go sour like Amtrak, the government will provide incentives to keep the trains rolling... sounds like a win for the private investors all the way around.

Immie

 

[DiveCon]

The $1.25 Billion is a far cry from what it is going to take to build this. If the government gives that kind of money (tax-free) and the private investors are not only going to benefit from the "gift" but keep the revenue for themselves? Hell yes!

Edit: especially, if the government will cover any losses as they are wont to do with Amtrak!

Immie

sorry, but i wouldnt go into business on something like that with that much government money involved
you lose control

What? Do you think the government has any control?

If they are footing the bill for losses and I keep the revenues? Damn right I am going to think seriously about going into business like that.

Who says they are going to control anything? They will provide the seed money. The private investors will get the revenue. Should things go sour like Amtrak, the government will provide incentives to keep the trains rolling... sounds like a win for the private investors all the way around.

Immie

that aint what would happen
they would end up taking over your project

 

[Immanuel]

sorry, but i wouldnt go into business on something like that with that much government money involved
you lose control

What? Do you think the government has any control?

If they are footing the bill for losses and I keep the revenues? Damn right I am going to think seriously about going into business like that.

Who says they are going to control anything? They will provide the seed money. The private investors will get the revenue. Should things go sour like Amtrak, the government will provide incentives to keep the trains rolling... sounds like a win for the private investors all the way around.

Immie

that aint what would happen
they would end up taking over your project

I can't say for sure, but I think you would be wrong on that account.

Immie

 

[DiveCon]

What? Do you think the government has any control?

If they are footing the bill for losses and I keep the revenues? Damn right I am going to think seriously about going into business like that.

Who says they are going to control anything? They will provide the seed money. The private investors will get the revenue. Should things go sour like Amtrak, the government will provide incentives to keep the trains rolling... sounds like a win for the private investors all the way around.

Immie

that aint what would happen
they would end up taking over your project

I can't say for sure, but I think you would be wrong on that account.

Immie

they didnt take over amtrak?

 

[asterism]

If he has all these private investors waiting in the wings then he is even more of a moron to turn down the federal money.

do you not understand that if the government is doing it, the private investors wont

Are you saying that the private investors would not accept $1.25 Billion of government funding for a program they would like to see completed?

I find that hard to believe and if that is the case, then the private investors you are speaking of are "Off their frigging rockers"!

Immie

Government funding would mean government micromanagement of the operation. That's not a good idea for private investors. Look at what happened to GM's bondholders.

 

[Immanuel]

that aint what would happen
they would end up taking over your project

I can't say for sure, but I think you would be wrong on that account.

Immie

they didnt take over amtrak?

Amtrak - Wikipedia, the free encyclopedia

The National Railroad Passenger Corporation, doing business as Amtrak (reporting mark AMTK), is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States. "Amtrak" is a portmanteau of the words "America" and "track".[1] It is headquartered at Union Station in Washington, D.C.[2]

I'm not following you. As far as I know, Amtrak is government owned and always has been.

There is more at the link.

Amtrak came about because the passenger railways were failing. The way I understand it is that the government did not "take over" from the railways rather they had it thrown in their laps. It was either fund it or watch the industry go "Buh Bye".

Immie

 

[DiveCon]

I can't say for sure, but I think you would be wrong on that account.

Immie

they didnt take over amtrak?

Amtrak - Wikipedia, the free encyclopedia

The National Railroad Passenger Corporation, doing business as Amtrak (reporting mark AMTK), is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States. "Amtrak" is a portmanteau of the words "America" and "track".[1] It is headquartered at Union Station in Washington, D.C.[2]

I'm not following you. As far as I know, Amtrak is government owned and always has been.

There is more at the link.

Amtrak came about because the passenger railways were failing. The way I understand it is that the government did not "take over" from the railways rather they had it thrown in their laps. It was either fund it or watch the industry go "Buh Bye".

Immie

they took over other failing railroads and made Amtrak out of it

 

[Immanuel]

do you not understand that if the government is doing it, the private investors wont

Are you saying that the private investors would not accept $1.25 Billion of government funding for a program they would like to see completed?

I find that hard to believe and if that is the case, then the private investors you are speaking of are "Off their frigging rockers"!

Immie

Government funding would mean government micromanagement of the operation. That's not a good idea for private investors. Look at what happened to GM's bondholders.

That is a completely different set of circumstances than what we have here.

My personal opinion is that the auto industry and the banks cried wolf and we bailed them out when we should not have done so. Basically, I would have called their bluff.

I have not been following the issue with the bondholders, so, I am only answering this from what I can see in the few minutes that I have been looking for this.

Buying bonds is a risk. Anyone who buys a bond is taking the risk that the issuer will default. In this case, that is what has happened although it seems that they are being offered stock to replace their losses... that is more than most bondholders of defaulting companies receive.

GM bonds to keep trading after IPO | Business News for Wichita Kansas | Local Journal of Wichita Business News and Kansas Business News | Wichita Eagle

During GM's bankruptcy last year, the bondholders were given a 10 percent stake in the new GM. But they won't receive the shares until the liquidation of the cast-off portion of the old GM that is still in bankruptcy. That's expected to take three to six months, according to an insider from a firm that's a major bondholder. Until then, GM's bonds will continue to trade.

In the case of the HSR, it seems more like this would be seed money to start the process not control the rails. It does not appear that the money offered to the State of Florida came with "strings attached" it was just seed money.

Immie

 

[Immanuel]

they didnt take over amtrak?

Amtrak - Wikipedia, the free encyclopedia

The National Railroad Passenger Corporation, doing business as Amtrak (reporting mark AMTK), is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States. "Amtrak" is a portmanteau of the words "America" and "track".[1] It is headquartered at Union Station in Washington, D.C.[2]

I'm not following you. As far as I know, Amtrak is government owned and always has been.

There is more at the link.

Amtrak came about because the passenger railways were failing. The way I understand it is that the government did not "take over" from the railways rather they had it thrown in their laps. It was either fund it or watch the industry go "Buh Bye".

Immie

they took over other failing railroads and made Amtrak out of it

A) Took over or

B) Had the rails dumped in their laps?

Hint: choose B.

Immie

 

[DiveCon]

Amtrak - Wikipedia, the free encyclopedia



I'm not following you. As far as I know, Amtrak is government owned and always has been.

There is more at the link.

Amtrak came about because the passenger railways were failing. The way I understand it is that the government did not "take over" from the railways rather they had it thrown in their laps. It was either fund it or watch the industry go "Buh Bye".

Immie

they took over other failing railroads and made Amtrak out of it

A) Took over or

B) Had the rails dumped in their laps?

Hint: choose B.

Immie

took over


question, has Amtrak ever been in the black?

 

[Immanuel]

they took over other failing railroads and made Amtrak out of it

A) Took over or

B) Had the rails dumped in their laps?

Hint: choose B.

Immie

took over


question, has Amtrak ever been in the black?

Not to my knowledge, but I think you are wrong in the answer to my question.

Immie

 

[rightwinger]

I am on the Acela right now, moving along at about 30 mph waiting for traffic ahead to clear

 

[Immanuel]

I am on the Acela right now, moving along at about 30 mph waiting for traffic ahead to clear

I had to look up "Acela". I had no idea what it was. 30 mph? Dang, if it were any slower you could outrun it! Well, if you could go the distance that is.

Immie

 

[DiveCon]

I am on the Acela right now, moving along at about 30 mph waiting for traffic ahead to clear

I had to look up "Acela". I had no idea what it was. 30 mph? Dang, if it were any slower you could outrun it! Well, if you could go the distance that is.

Immie

i assumed it was some local service in NJ
but i had to bing it too
it takes them 7 hours to get from Boston to DC
shoot, i can take a turbo prop from Portland ME and get to DC in a couple hours

 

[Synthaholic]

I can't say for sure, but I think you would be wrong on that account.

Immie

they didnt take over amtrak?

Amtrak - Wikipedia, the free encyclopedia

The National Railroad Passenger Corporation, doing business as Amtrak (reporting mark AMTK), is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States. "Amtrak" is a portmanteau of the words "America" and "track".[1] It is headquartered at Union Station in Washington, D.C.[2]

I'm not following you. As far as I know, Amtrak is government owned and always has been.

There is more at the link.

Amtrak came about because the passenger railways were failing. The way I understand it is that the government did not "take over" from the railways rather they had it thrown in their laps. It was either fund it or watch the industry go "Buh Bye".

Immie

Yes, that is correct.

 

[Synthaholic]

they didnt take over amtrak?

Amtrak - Wikipedia, the free encyclopedia

The National Railroad Passenger Corporation, doing business as Amtrak (reporting mark AMTK), is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States. "Amtrak" is a portmanteau of the words "America" and "track".[1] It is headquartered at Union Station in Washington, D.C.[2]

I'm not following you. As far as I know, Amtrak is government owned and always has been.

There is more at the link.

Amtrak came about because the passenger railways were failing. The way I understand it is that the government did not "take over" from the railways rather they had it thrown in their laps. It was either fund it or watch the industry go "Buh Bye".

Immie

they took over other failing railroads and made Amtrak out of it

"took over" is loaded language, and incorrect. "Saved" the passenger rail industry from extinction is closer to the truth.

Do you remember 'truth'?

 

[Synthaholic]

I am on the Acela right now, moving along at about 30 mph waiting for traffic ahead to clear

I had to look up "Acela". I had no idea what it was. 30 mph? Dang, if it were any slower you could outrun it! Well, if you could go the distance that is.

Immie

i assumed it was some local service in NJ
but i had to bing it too
it takes them 7 hours to get from Boston to DC
shoot, i can take a turbo prop from Portland ME and get to DC in a couple hours

What is the cost?

 

[DiveCon]

I had to look up "Acela". I had no idea what it was. 30 mph? Dang, if it were any slower you could outrun it! Well, if you could go the distance that is.

Immie

i assumed it was some local service in NJ
but i had to bing it too
it takes them 7 hours to get from Boston to DC
shoot, i can take a turbo prop from Portland ME and get to DC in a couple hours

What is the cost?

it was part of a flight to another location, so i dont know

 

[DiveCon]

Amtrak - Wikipedia, the free encyclopedia



I'm not following you. As far as I know, Amtrak is government owned and always has been.

There is more at the link.

Amtrak came about because the passenger railways were failing. The way I understand it is that the government did not "take over" from the railways rather they had it thrown in their laps. It was either fund it or watch the industry go "Buh Bye".

Immie

they took over other failing railroads and made Amtrak out of it

"took over" is loaded language, and incorrect. "Saved" the passenger rail industry from extinction is closer to the truth.

Do you remember 'truth'?

yes, too bad you dont
the truth is they took over FAILING railroads