• High Speed Rail HSR (Houston - DFW Dallas Fort Worth) (FKA Texas Central )

  • Discussion related to Amtrak also known as the National Railroad Passenger Corp.
Discussion related to Amtrak also known as the National Railroad Passenger Corp.

Moderators: GirlOnTheTrain, mtuandrew, Tadman

  by Tadman
 
John_Perkowski wrote: Tue Apr 23, 2024 4:18 pm Admin note

If you are a contract law attorney, we invite you to share your knowledge here.
There's a lot more at play than just a few headline soundbytes. With regard to the "buy american" questions, Amtrak is a private entity that the feds own 100pct of preferred stock (common owned by BNSF et al) and controls by naming directors. There are probably easy ways to get around Buy American requirements, if they even are requirements or just policy set by management who knows what their instructions are from above.

With regard to the existing contracts, they may be very valid and useful and since they were signed before Amtrak's influence, you can't retroactively cancel them.

With regard to "we're in the driver seat", I'd like to see more detail. Was the operation sold to Amtrak? Strategic partnership? Operations subcontractor? "driver seat" is not a term of art and tells us nothing about this agreement. Also recall that Virgin was "in the driver seat" at Brightline for a hot minute and that didn't last.

Finally, the "it was planned for bankruptcy" doesn't work for me. I know places that did this and someone has to benefit to make this work. If Texas Central started up and then filed, who benefits? Not TC, not the investors, not all the creditors they still owe money to. The state of Texas was outwardly against the project. Who does that leave?
  by Jeff Smith
 
https://www.msn.com/en-us/news/us/texas ... b7f0&ei=11
Texas Bullet Train Update as Route Unclear
...
NCTCOG transportation planning manager Brendon Wheeler confirmed at a public meeting that the agency is trying to find an outside partner but admitted potential investors are concerned about how the National Environmental Policy Act (NEPA) process would affect their income.
...
According to The Dallas Morning News, Wheeler said at Monday's meeting that the search for a commercial partner for the Dallas-Fort Worth line won't begin until the project gets NEPA clearance, which is forecast for early 2025.
....
Proposals for a new elevated station in Cedars, Dallas, have already been approved federally and are expected to be incorporated into any Dallas-Fort Worth high-speed line.

Underground stations are planned for Fort Worth and Arlington, but their locations have not been confirmed, which will have to be done before the project gets environmental signoff.
...
  by charlesriverbranch
 
Amtrak is a private entity that the feds own 100pct of preferred stock (common owned by BNSF et al) and controls by naming directors.
I thought the Supreme Court ruled a few years ago that Amtrak is a government agency.
  by Gilbert B Norman
 
Mr. Charles River, a good rule to remember that if Amtrak deems it it's in their interest to be a private enterprise, it will be such. If in its interest to be a Federal Agency, then so be it.

They've played both ends against the middle through their entire fifty three year life.
Last edited by Gilbert B Norman on Wed Jun 19, 2024 8:58 am, edited 1 time in total.
  by Tadman
 
charlesriverbranch wrote: Tue Jun 18, 2024 10:39 am
Amtrak is a private entity that the feds own 100pct of preferred stock (common owned by BNSF et al) and controls by naming directors.
I thought the Supreme Court ruled a few years ago that Amtrak is a government agency.
It depends.

For certain purposes they are considered a private entity and for certain purposes they are considered a public agency. As GBN notes they try to use the most convenient classification depending on the needs and scenario. This comes about because it is a private company, but the preferred stock is 100pct owned by the US government and the losses have always been covered by the US government. You also have the common stock owned by BNSF, UP, and a few other Class 1's. It seems like a bit of a mess to me.
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