newpylong wrote:Fortress still owns Florida East Coast. I have no idea how that railroad is run.
Pretty well from what I understand, but they have some significant advantages. The intermodal market is prime, as they can move bulk into the Miami area, and truckers are all over it, because it saves them a serious backhaul empty. They also have a really solid aggregates business, being its Florida home of "everbody gets a condo," and also of about 0 in the way of grades. Used to be a scheduled railroad, things got done when theysaid they would. Like a mini-CN, a lot of the management at FEC had CN/IC experience. Don't know about current management, but they have enough cash to throw some at a hsr project in south Florida.
It will be interesting to see how this all plays out, Fortress obviously has the experience but its a rough environment, one that has claimed 3 railroads in 20 years. Certainly hope that they will do okay, they have an advantage over the 3 previous owners, size and cash. Will hopefully allow them to invest in the MMA to make the necessary improvements to make it work.