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Amtrak Plans?

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  • Member since
    May 2003
  • From: US
  • 22,729 posts
Posted by BaltACD on Tuesday, July 19, 2022 4:04 PM

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.

Never too old to have a happy childhood!

              

  • Member since
    February 2016
  • From: Texas
  • 1,454 posts
Posted by PJS1 on Thursday, July 21, 2022 8:37 PM
“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.    

Rio Grande Valley, CFI,CFII

  • Member since
    July 2016
  • 1,912 posts
Posted by Backshop on Friday, July 22, 2022 7:43 AM

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.

  • Member since
    September 2017
  • 5,041 posts
Posted by charlie hebdo on Friday, July 22, 2022 9:29 AM

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.  

  • Member since
    September 2003
  • 19,015 posts
Posted by Overmod on Friday, July 22, 2022 12:53 PM

Ditto

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