Amtrak Plans?

[Overmod]

Ditto

[charlie hebdo]

PJS1

“So, what the HECK are they doing with our money? Is it just drawing interest in an account somewhere or what?”

 

By “our money” I presume you mean the taxpayer’s monies that were transferred from the General Fund to Amtrak.

 

In FY21 Amtrak received $4.1 billion in paid in capital from the General Fund and $242 million in federal and state capital assistance.  It paid down $194 million in debt and lease obligations, leaving a net increase in cash provided by financing activities of $4.1 billion. 

 

The company used $1.9 billion (net) to refurbish property, plant, and equipment; $1.2 billion (net) for short-term investments and for sale securities, and approximately $970 million to cover the operating cash deficiency.  Adjusted for immaterial items, cash and cash equivalents at the end of the year increased by approximately $82 million.    

 

A substantial portion of the incremental increase in the paid-in capital from the federal government was invested in short term and/or for sale securities presumably to cover future capital expenditures.   

 

Amtrak buys and sells debt securities when it is to the company’s advantage. In FY21 the company sold $10.5 billion of short-term securities and bought $10.7 billion of like kind securities.  Presumable the company had a gain on the sale and was able to replace them for a lower net cost.  Without access to the company’s books, however, it is impossible to know the gain, if any, on the sales and the discounts, if any, on the purchases. 

 

The amounts shown don’t balance due to rounding.    

 

Also glad to see you back.  

[Backshop]

PJS1--Welcome back!  Where ya been?

Balt--People nowadays don't know what service means but they also don't want to pay for it.  Witness the rise of the ULCC airlines like Spirit and Frontier here and EasyJet and Ryanair in Europe.

[PJS1]

“So, what the HECK are they doing with our money? Is it just drawing interest in an account somewhere or what?”

 

By “our money” I presume you mean the taxpayer’s monies that were transferred from the General Fund to Amtrak.

 

In FY21 Amtrak received $4.1 billion in paid in capital from the General Fund and $242 million in federal and state capital assistance.  It paid down $194 million in debt and lease obligations, leaving a net increase in cash provided by financing activities of $4.1 billion. 

 

The company used $1.9 billion (net) to refurbish property, plant, and equipment; $1.2 billion (net) for short-term investments and for sale securities, and approximately $970 million to cover the operating cash deficiency.  Adjusted for immaterial items, cash and cash equivalents at the end of the year increased by approximately $82 million.    

 

A substantial portion of the incremental increase in the paid-in capital from the federal government was invested in short term and/or for sale securities presumably to cover future capital expenditures.   

 

Amtrak buys and sells debt securities when it is to the company’s advantage. In FY21 the company sold $10.5 billion of short-term securities and bought $10.7 billion of like kind securities.  Presumably the company had a gain on the sale and was able to replace them for a lower net cost.  Without access to the company’s books, however, it is impossible to know the gain, if any, on the sales and the discounts, if any, on the purchases. 

 

The amounts shown don’t balance due to rounding.    

[BaltACD]

Sunnyland

I just returned for a trip on Amtrak CZ from Chi to Sacramento and train was packed, they had to rotate in lounge car so everybody got a chance to sit there, on the eastbound trip, they had 2 lounge cars so that helped.   And the second River Runner has been restored in MO, which is good news  for us.  Hard to figure out what is going on with them, as somebody commented they got more money from Biden than they have in years. They are upgrading coaches and engines with the Chargers from Siemens, but they have some kinks  to work out.  Think outside  the box , there is more than NEC, and Amtrak was set up to be a nationwide network.  I have heard NEC means nothing else counts and sometimes it seems like it.  I hope Amtrak can keep running as I want to keep riding trains.

By now Amtrak has reached the point where no one in their employ have any first hand knowledge of what the operation of Railroad Owned primere passenger trains was all about and they can only refer to Amtrak service of years gone by as their yardstick for what is good or bad service.

The reality is, very few in today's 'fast food' type world have any understanding of what customer service is all about.

[Sunnyland]

I just returned for a trip on Amtrak CZ from Chi to Sacramento and train was packed, they had to rotate in lounge car so everybody got a chance to sit there, on the eastbound trip, they had 2 lounge cars so that helped.   And the second River Runner has been restored in MO, which is good news  for us.  Hard to figure out what is going on with them, as somebody commented they got more money from Biden than they have in years. They are upgrading coaches and engines with the Chargers from Siemens, but they have some kinks  to work out.  Think outside  the box , there is more than NEC, and Amtrak was set up to be a nationwide network.  I have heard NEC means nothing else counts and sometimes it seems like it.  I hope Amtrak can keep running as I want to keep riding trains.

[Gramp]

I hold little hope for Amtrak.  Forever a political football. Example... let's dig in to battle about three routes toward Montreal. While major US cities go without service. 
My interest is now dominated by Briteline. 

[Fred M Cain]

charlie hebdo

Maybe their plans don't include much money for the LD services?

 

 

Well, yeah, that's a good point.  But like a lot of people, including NARP have stated all along, the American tax payers are not likely to continue supporting an endeavor with their tax dollars that's not national in scope.

 

I'm not even sure that I do.

[Fred M Cain]

CMStPnP

I just googled today and read an article in a competing publication that Amtrak forecasts no real movement on improvements or new trains until late 2023.    So we have more than a year of waiting and hopefully the $20 billion to Amtrak is not repurposed or clawed back by a new Congress.

 

Milwaukee Road,

 

Having the money clawed back by Congress is a very real possibility.  Some political pundits are forecasting a congressional landslide for the Republicans in November.  They might just wind up with a veto-proof majority then they can pretty well call all the shots.

 

One can only hope that there are enough Republicans that want to see more Amtrak service and that keeping Amtrak on track might turn out to be somewhat of a bipartisan issue.

 

But the way management is running this outfit, well, yeah, it looks discouraging

[charlie hebdo]

Maybe their plans don't include much money for the LD services?

[Fred M Cain]

CMStPnP

Maybe I am being impatient but I am curious has anyone seen any movement on ANY Amtrak future plans since the infrastruture bill was passed.    Beyond the Amtrak teaser press releases of what they plan to do several years out.    I have not seen any movement on past initiatives that should have been ready to move ahead with proper capital funding.     For example the extension of the Heartland Flyer to connect with the Southwest Chief.......nothing new announced.     They did an inspection train, several studies, they should have been close to execution on it.   I am sure there are a few other projects like that across the country.    Something should be moving forwards at this point?    Shouldn't it?

 

 

I don't believe that your impatience is unwarranted.  Joe Biden and the Democratic Congress has given Amtrak a huge amount of money - far more than they have ever received before.

 

So, what the HECK are they doing with our money? Is it just drawing interest in an account somewhere or what?   Where is the order for new Superliners which, had they had the money, should've been ordered at least five years ago if not ten.

 

I am getting really discouraged with Amtrak management.  In the past, there were years where they had good managers like Graham Claytor Jr. but no funding.  Now they have money, but what about management?

 

Some long distance trains are down to two coaches and just one or two sleepers simply for lack of equipment.  If you don't have the equipment, how are you supposed to grow the business?

 

As an old presidential candidate once was supposed to have quipped, "Where's the Beef"?

 

Regards,

Fred M. Cain

[blue streak 1]

It comes down to Amtrak management quit worrying about Amtrak management and concentrate on passengers riding the trains now and the potential passengers who cannot get on a train due lack of equipment and operating personnel.

[CMStPnP]

Electroliner 1935

Try this 

https://www.amtrak.com/content/dam/projects/dotcom/english/public/documents/corporate/reports/Amtrak-General-Legislative-Annual-Report-FY2020-Grant-Request.pdf

Right idea, wrong year though....needs to say FY2023.

[CMStPnP]

Overmod

I am reading stories that indicate Amtrak won't start spending on most things until 2023.

A competing publication to Trains (which I cannot link to) published Amtraks 2023 funding request to Congress, it is for $3.3 Billion.    I believe a chunk is for another batch of replacement LD cars (I think they expect to match that with another grant from another program as it seems low to me or else it is the start of a multi-year request).     Additionally, they have all their wish list of expansion trains including (a suprise to me), extension of Hiawatha to Madison, WI. (listed under potential expansion).

[Electroliner 1935]

Try this 

https://www.amtrak.com/content/dam/projects/dotcom/english/public/documents/corporate/reports/Amtrak-General-Legislative-Annual-Report-FY2020-Grant-Request.pdf

[CMStPnP]

Finally, Page 70 and Page 93:

file:///C:/Users/19728/Downloads/Amtrak-General-Legislative-Annual-Report-FY2023-Grant-Request%20(1).pdf

Oh crap, well I guess you'll have to wait for Amtrak to upload it to it's website.

 

[charlie hebdo]

Out-of-service rails in US and Canada

It was supposed to show a map, but apparently not allowed.

[BaltACD]

daveklepper

More lack of skilled technicians.  Tools?  They still have Wilmington and possibly Juniata, as well as Beech Grove.

Also, did not Beech Grove eventually serve all the New York Central System and, susequently, PC?

NYC & PC were both having financial issues.  In the railroad industry, when you have financial issues the first things that pay the price is anything associated with maintenance - maintenance of track, maintenance of equipmet, maintenance of anything.  Beech Grove is a product of financially failing organizations beyond its Big4 heritage.

[daveklepper]

More lack of skilled technicians.  Tools?  They still have Wilmington and possibly Juniata, as well as Beech Grove.

Also, did not Beech Grove eventually serve all the New York Central System and, subsequently, PC?

[BaltACD]

CMStPnP

 

daveklepper

Takes time to order and build new equipmeent.   Not surprised by the time frame, just wish Antrak would use what is on-hand more efficiently. 

Or at least maintain a reserve fleet instead of being so hasty to scrap or sell it off.   It's not like they are paying for track space charges at Beech Grove.

To repair, rebuild damaged equipment you need skilled manpower with the necessary shop tools and equipment to do the job.  Amtrak's starvation budgets of the past half century have caused the destruction of what Beech Grove once was for the Big4.

[blue streak 1]

CMStPnP

 

Or at least maintain a reserve fleet instead of being so hasty to scrap or sell it off.   It's not like they are paying for track space charges at Beech Grove.

 

 

Plus there is enough land there where more tracks could be built with used ties and rail from the NEC.

[CMStPnP]

daveklepper

Takes time to order and build new equipmeent.   Not surprised by the time frame, just wish Antrak would use what is on-hand more efficiently.

Or at least maintain a reserve fleet instead of being so hasty to scrap or sell it off.   It's not like they are paying for track space charges at Beech Grove.

[daveklepper]

Takes time to order and build new equipmeent.   Not surprised by the time frame, just wish Antrak would use what is on-hand more efficiently.

[CMStPnP]

I just googled today and read an article in a competing publication that Amtrak forecasts no real movement on improvements or new trains until late 2023.    So we have more than a year of waiting and hopefully the $20 billion to Amtrak is not repurposed or clawed back by a new Congress.

[blue streak 1]

Amtrak may need to provide much service to smaller cities.  The ensuing pilot shortage is going to cause loss of all airline service.  The next 10 years is going to have a lot of pilots into forced retirements at age 65.

Air Transport World - April 2022 - page 24 (atw-digital.com)

 

 Air Transport World - April 2022 - page Cover (atw-digital.com)

[Electroliner 1935]

That poor pedestrian, he keeps getting by a train every three hours. Can't be much left of him.

 

[MidlandMike]

CMStPnP

 

 

blue streak 1

Amtrak planning to serve Burlington by this July?  Hopefully all the small punch list items  will get finished in time.

All aboard! Amtrak is Burlington-bound this July, officials say - VTDigger

 

 

 

 

I think they are trying to eventually extend that train to Montreal if I am not mistaken.    I believe parts of the route were the former Montrealer train Amtrak used to run and something went South with the track usage or track maintenence.

 

The extension to Burlington is an extension of the Ethan Allen which runs on Vermont Rail System (ex-Rutland).  The ATK train that ends in St. Albans, Vermont, and used to run thru to Montreal, runs on the ex-Vermont Central.  That train stops at Essex Junction about 10 miles from Burlington.  There is a connecting branch between Essex JC and Burlington.

Also, I wonder how the Burlington train will opperate thru Rutland, which is about 2 miles off the new thru route.

[CMStPnP]

blue streak 1

Amtrak planning to serve Burlington by this July?  Hopefully all the small punch list items  will get finished in time.

All aboard! Amtrak is Burlington-bound this July, officials say - VTDigger

 

I think they are trying to eventually extend that train to Montreal if I am not mistaken.    I believe parts of the route were the former Montrealer train Amtrak used to run and something went South with the track usage or track maintenence.

[blue streak 1]

Amtrak planning to serve Burlington by this July?  Hopefully all the small punch list items  will get finished in time.

All aboard! Amtrak is Burlington-bound this July, officials say - VTDigger