Virgin Rail née Brightline/AAF Orlando - Miami FL FEC

This is a forum for all operations, both current and planned, of Virgin Rail USA formerly known as Brightline, and Virgin Worldwide Rail operations, past and present. Official Sites:
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electricron
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by electricron » Fri Aug 17, 2018 8:12 pm

gokeefe wrote:That is only true if this is the only thing he has done. A disclosure such as this one immediately begs the question whether or not he has taken actions in office in order to support the project.

As far as Florida law goes you're in the wrong section of the law library. Find the federal statutes and take a look at honest services fraud. If there's a criminal issue here it may very likely be a federal case.
Governor is a state office, not a federal office.

gokeefe
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by gokeefe » Fri Aug 17, 2018 8:31 pm

Your are 100% correct. You can also ask a couple of recent former Illinois Governors how they ended up getting convicted on public corruption charges in a federal court house and serving time in federal prisons.

"Them's the rules ... "
gokeefe

Bonevalleyrailfan
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Bonevalleyrailfan » Sat Aug 18, 2018 12:34 am

mtuandrew wrote:Remember that shovel-ready Orlando HSR project canceled by Rick Scott in the first months of his governorship?

Disgusting.
What about this is disgusting? Is it how Ms. Klas intentionally omitted many facts in her article in order to support her tenous argument that Scott profited directly from AAF by investing in a Fortress company totally unrelated to FECI or AAF? She conveniently left out facts that AAF is paying fair market rent and per passenger fees to the GOAA and CFX agencies for use of the new train station at the airport and the right of way along SR 528 respectively. It seems you are agreeing with Ms. Klas in her interpretation that the financing for AAF heavily involved taxpayers as she said? Did you actually read the stuff in her article and understand what she is doing? She is out to get Scott and does not care about the facts in her agenda against him. Ms. Klas' reporting is why so many call the media fake news anymore.

I think that Scott rejected the HSR funds not to profit from AAF but to satisfy his tea party base that elected him in 2010. That is where Ms. Klas gets it wrong by insinuating that Scott wanted to profit from rejecting the money.

I don't care for Scott and oppose most of his policies as a resident of Florida. But in the end, his decision to reject HSR funding from the feds in 2011 turned out to be a good decision. We would never have passenger rail between Tampa and Miami. Now we have a good chance of that happening with AAF.

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R&DB
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by R&DB » Sat Aug 18, 2018 9:54 am

Bonevalleyrailfan wrote:
We would never have passenger rail between Tampa and Miami.
Two words: Silver Star
Opinion: Gov. Scott saved taxpayers (National, not just Florida) money. Public officials can invest in any industry they wish as long as there is full disclosure, as there was in this case.
The article referenced HSR. AAF is not HSR as defined by FRA.
Harry

Arlington
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Arlington » Sat Aug 18, 2018 11:06 am

R&DB wrote:Two words: Silver Star
Agreed: My understanding of Silver Star Ridership is that they do a significant day-trip business intra-florida. A faster, more frequent Tampa-Miami service would probably do very well.
"Trying to solve congestion by making roadways wider is like trying to solve obesity by buying bigger pants."--Charles Marohn

Noel Weaver
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Noel Weaver » Sat Aug 18, 2018 1:40 pm

There is no doubt in my mind that a decent intercity service within Florida would be a winner for all concerned. Yes!, Tri-Rail is a commuter service in every respect although a rather longer distance commuter operation. I have ridden Tri-Rail within the past month a couple of different times and the parking lots had a lot of cars parked in them. The old saying you run the trains and we'll ride them applies in Florida for sure. It might be a bit longer but down the road intercity passenger trains have a good future here in Florida.
Noel Weaver

Bonevalleyrailfan
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Bonevalleyrailfan » Sat Aug 18, 2018 5:35 pm

Having lived in the Tampa area for over 20 years, I am well aware of the Silver Star. In my haste to post my comment last night I should have clarified that I meant that we would finally have meaningful and reliable and convenient passenger rail service between Tampa and Miami when Brightline expands to Tampa. The Silver Star is none of these. It is typically late (often more than an hour) and runs only once a day in each direction. In other words, in my opinion, the Silver Star is not an option for 99.8% of the potential riders between Tampa and Miami. Brightline will provide hourly service and, if current operating trends continue, will be on time more than 95% of the time.

Noel Weaver
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Noel Weaver » Sun Aug 19, 2018 7:26 pm

Bonevalleyrailfan wrote:Having lived in the Tampa area for over 20 years, I am well aware of the Silver Star. In my haste to post my comment last night I should have clarified that I meant that we would finally have meaningful and reliable and convenient passenger rail service between Tampa and Miami when Brightline expands to Tampa. The Silver Star is none of these. It is typically late (often more than an hour) and runs only once a day in each direction. In other words, in my opinion, the Silver Star is not an option for 99.8% of the potential riders between Tampa and Miami. Brightline will provide hourly service and, if current operating trends continue, will be on time more than 95% of the time.
I agree with all of this, Tampa - Miami would be a very good market and would provide a very useful service.
Noel Weaver

Jadebenn
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Jadebenn » Tue Aug 28, 2018 1:11 am

Brightline's decided it's willing to sit down with the Treasure Coast and neogtiate about adding a stop to the train's route in the area:
https://www.mypalmbeachpost.com/busines ... XKgW18sjI/

I can't help but see this as a move done solely to try and defuse the opposition to the project, but that's not necessarily a bad thing.

Matt Johnson
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Matt Johnson » Tue Aug 28, 2018 10:51 am

Bonevalleyrailfan wrote: I don't care for Scott and oppose most of his policies as a resident of Florida. But in the end, his decision to reject HSR funding from the feds in 2011 turned out to be a good decision. We would never have passenger rail between Tampa and Miami. Now we have a good chance of that happening with AAF.
If that happens (big if, but I'm surprised that Brightline has gotten this far), I will happily eat my words and admit that my extreme skepticism was wrong. I hope AAF/Brightline can make the Orlando extension happen at the very least.

bostontrainguy
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by bostontrainguy » Tue Aug 28, 2018 3:04 pm

Report on CNBC this morning about Amazon's new second headquarters. Reporter was telecasting from near the downtown Miami station and commenting on the importance in the bid for transit services which are plentiful now. One of the other pluses was the new train service to Orlando.

Other pluses:
Three nearby International Airports
Closeness to new potential Central American markets

Noel Weaver
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Noel Weaver » Tue Aug 28, 2018 5:59 pm

Report now is that Brightline is considering a stop on the Treasure Coast. Here is a link.

http://www.sun-sentinel.com/news/florid ... story.html" onclick="window.open(this.href);return false;

I think this is a very positive move.

Noel Weaver

Noel Weaver
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Noel Weaver » Thu Aug 30, 2018 11:32 am

Brightline made the news again today and I think it is positive. Here is the link:

http://www.sun-sentinel.com/news/florid ... story.html" onclick="window.open(this.href);return false;

Noel Weaver

Gilbert B Norman
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by Gilbert B Norman » Thu Aug 30, 2018 12:31 pm

The Sun-Sentinel article linked by Mr. Weaver, reports that the $1.6B are to be Private Activity Bonds. Again, we should note that, while PAB's do have a strong drawing point in that they are exempt from Federal Income Tax, and sometimes State as well, they are secured only by the cash flow, or EBITDA, that the activity for which they were issued can generate.

Now simply that the State agency with jurisdiction over such matters has approved their issue, does not mean they can be issued at a YTM (effective interest rate) that will enable AAF to be a going concern.

While I cannot be certain what kind of rating the various rating concerns will give these bonds, my guess it will be "junk" (Moody's C or less).

But of course, I've been mistaken about everything to date regarding AAF, and I remain totally astounded how AAF thus far has "slain the dragons". But lest we forget, Florida will have "a new hand at the throttle" in Tallahassee come January, and will he be friend or foe to AAF interests?

gokeefe
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Re: Brightline fka All Aboard Florida Orlando - Miami FL FEC

Post by gokeefe » Thu Aug 30, 2018 8:17 pm

Too late to stop them now.
gokeefe

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