House Committee Hearing on Gunn's Firing

[jeaton]

Don

Let me know when you need backers for producing your version. I'll be there, but I would still want to get Karl Rove in the story. Maybe the romance angle?

Jay

[Big_Boy_4005]

Don, the really scary part is it probably doesn't cross their minds.

Jay, that is also a good theory, and between the two probably lies the truth behind the plan. Let's rob every possible domestic program, and pour it all into the "WAR ON TERROR", where we have a lot of friendly contractors, and are heavily invested.

Bottom line, screw the people, lets make some real money.

If we work on the plot long enough it might make a good TV movie.[;)]

[Anonymous]

Well, the inmates are definitely running this asylum of a topic.

Lock them up and throw away the keys. Somebody. Anybody!

[jeaton]

... with futuremodal as the Fox News commentator giving the fair and balanced coverage of the story.

[Jack_S]

oltmannd >> GWB. I've always thought that "puppet master" portrayal was a bit unfair

Jack > on the other hand I have always wondered where Cheny gets his shoulder length rubber gloves.

[TomDiehl]

QUOTE: Originally posted by Jack_S

oltmannd >> GWB. I've always thought that "puppet master" portrayal was a bit unfair

Jack > on the other hand I have always wondered where Cheny gets his shoulder length rubber gloves.

Jack, you should REALLY reconsider that screen name.

[Jack_S]

QUOTE: Originally posted by TomDiehl

QUOTE: Originally posted by Jack_S

oltmannd >> GWB. I've always thought that "puppet master" portrayal was a bit unfair

Jack > on the other hand I have always wondered where Cheny gets his shoulder length rubber gloves.

Jack, you should REALLY reconsider that screen name.

Rather than reconsider it I flaunt it with pride.

[samfp1943]

QUOTE: Originally posted by Big_Boy_4005

QUOTE: Originally posted by oltmannd

Hmmm. Let's see.... A turnaround artist.... With a railroad/passenger background..... Hmm. Who's available who would take a $250,000 year job?

I hear there's a guy in Nova Scotia who fits this profile. Has a house in N. VA already, too!

Now what was his name again?[:D]

I think I saw that guy on C-SPAN the other morning, but I'm not sure he wants the job (again).[:(][B)][;)]

Maybe if they offered him more money (still doubtful). The man has integrity and principles in the face of stupidity. The president with his plan can stick it.

Don, I think you and I smell the same rat behind the Bush plan. I didn't see any other railroads doing special commemorative loco paint jobs for Bush Sr. The big business connection is too much, and it is becomming obvious.

As a matter of fact the UP ran a "President's Special " train through here yesterday morning..Headed for the Houston Area according to the "Parsons Sun" ..You guys may have something cooking.. they were supposed to meet Bush 41 in HOuston..[?][?][?]

[oltmannd]

QUOTE: Originally posted by daveklepper

What about money to be made in picking pieces of a carcass?

Lot's of "there" there, for sure. Laney has alleged conversations with people interested in buying the NEC. There's a ton of money to be made there by deferring maintenance and sucking cash out.

[PNWRMNM]

Don,

I doubt that there is much "excess maintenance" to liquidate. The NEC has three big problems.

Amtrak's own business is break even at best.

Massive investment demands such as fire escape for Hudson Tunnels, for one. Track and wire for another.

Have to carry the local comuter operators at avoidable cost, losing hundreds of million per year as compared to getting average cost from them.

Getting involved in the "profitable" NEC is a sure route to no money. I doubt that anyone in the private sector would be so brave.

Mac

[oltmannd]

They are talking about an NEC asset company with Amtrak & commuter agencies paying for use. I think this includes scrapping the current agreements with the commuter agencies to get to more "realistic" payments.

To suck out money in this scenario, you lay off 2/3 of the maintenance workers, stop doing 3/4 of the program track ,signal and catenary work. The cash payments coming from Amtrak and the Commuter agencies go striaight out at dividends.

The NEC is in pretty good shape, for the most part right now, so you can coast for a few years without anyone really noticing. Then, once the failures and slow orders start to become more noticable, you start making plausible excuses that this is only a temporary situation - workforce turnover, labor issues, weather, vendor problems - whatever - all of which you have been working on and will have things fixed up in "no time". Meanwhile the cash continues to flow through to the investors.

You might even be able to borrow some money - or beg for some from the gov't like the airlines did on 9/11 - and flow that through as dividends, too.

Since there isn't anyone in an oversight position (other than the FRA) who knows beans about maintaining a RR, you can get away with this for quite a while.

Finally, things will get so bad that it will be obvious to everyone what's been going on, you declare bankruptcy and sell the whole thing back to the Fed or state gov'ts and walk away with several billion sitting in your investor's pockets.

If you did all this as a private company, you may not even have to show your books to anyone. (is this true? I'm no accountant)