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  • Jimmy Wilson and possible use of the U-34CH

  • Pertaining to all railroading subjects, past and present, in New Jersey
It is currently Fri Jun 14, 2024 6:02 am

Jimmy Wilson and possible use of the U-34CH

Pertaining to all railroading subjects, past and present, in New Jersey

Moderator: David

  by RichM
 
CJPat... I understand your point, however, have you priced a $100 million liability policy for anything lately? Especially with the $100,000 cap on self-insurance, that's like a $10 deductible on your car insurance.

What makes high value insurance affordable is when you have financial resources to self-insure up a certain dollar level. $100 million is affordable if you can self-insure the first $5-10 million. I doubt this is the case here, especially with the clause restricting the value of self-insurance.

Isn't going to happen on these tracks, gentlemen.

  by blockline4180
 
RichM wrote:CJPat... I understand your point, however, have you priced a $100 million liability policy for anything lately? Especially with the $100,000 cap on self-insurance, that's like a $10 deductible on your car insurance.

What makes high value insurance affordable is when you have financial resources to self-insure up a certain dollar level. $100 million is affordable if you can self-insure the first $5-10 million. I doubt this is the case here, especially with the clause restricting the value of self-insurance.

Isn't going to happen on these tracks, gentlemen.

Uhh, you would be surprised how much financial resources Mr. Wilson posesses!! I'm sure something good will happen and something will run someplace on some track somewhere!

Mr. Wilson has pulled rabbits out of his hat in the past and I'm sure he will in the future!! Please don't doubt him!

  by RichM
 
OK, I'm game.

I'm not intending to flame, honestly.

What rabbit has he pulled out of the hat recently?

And before anyone answrs relative to insurance costs, think first that excess liability policies are usually written around probabilities. And think of how many derailments and other accidents have happened in NY in the past three years, add to that the flooding and other "acts of God" that while possibly not covered may have contributed to an overall reduction in reliability of the roadbed.

Let's go one further, because now I'm curious. Anyone here with the group that runs the Easter Bunny Train on NJT, the Volunteer Railraoders Association? Running NJT equipment with NJT personnel, isn't there still a small insurance rider? Or friendly enough with Mr. Levin to see what challenges he faces on both Amtrak and other railroads?

  by Steamtown Observer
 
What makes high value insurance affordable is when you have financial resources to self-insure up a certain dollar level. $100 million is affordable if you can self-insure the first $5-10 million. I doubt this is the case here, especially with the clause restricting the value of self-insurance.
More hypotheticals - there are various local and regional government entities that would want this to happen. If they know that the insurance premium is the difference between go and no-go there are certain tourist related budgets that are in a position to kick in.

  by CJPat
 
RichM wrote:I understand your point, however, have you priced a $100 million liability policy for anything lately?
Honestly...no. I am not familiar with insurance rates for public events. I do find it odd that they put such a low limitation on self-insurance within the Lease. Of course the yang of my statement "the cost may be very reasonable.." is "the cost may be very expensive". Only the insurance professionals would know for sure. Anybody with that kind of knowledge out here?

  by blockline4180
 
Rich,

I didn't intend to flame you! I just made a point to keep an eye out to see what unfolds and to not give in easily!

As far as pulling white rabbits out, NOBODY thought he would be able to run on the Dundee Spur! That line was basically left for dead after Conrail stopped serving ACF.. The towns of Garfield and Passaic were just about ready to pave over the tracks, but Mr. Wilson prevented that from happening. He also has a rather lucrative C&D business that is now producing some 50+ car loads a week!!!!

I would say his tiny little shortline is in the process of growing, don't you agree?? IMHO, something special is in the works with regards to dinner or passenger trains! If he is denied to run on the Southern Tier then he will run someplace else(i.e. lookup Lackawaxen & Stourbridge)! And it is a fact he bought Bennett Levins former Erie 833 for this particular purpose!

WOW, were WAYYY off topic now!!! :(

  by RichM
 
Oh sure, we're all kind of kooky friends on these boards, no offense intended and none taken.

The construction debris business appears to be a money-maker for all parties involved in the NY metropolitan area, no question about that, I'm just not sure how many absolute bottom line dollars are generated.

Also, I agree with the sentiments of the thread; I'd love to see Mr Wilson's equipment operate somewhere in the area too!

I just think these particular lease terms were written to restrict any such operation unless it was undertaken by a corporation with similar insurance already in place, or a government transportation agency, whether existing or to be created in the future.

I'm not sure about local government participation in helping offset an insurance premium, that seems like a non-starter for the relative sizes of the counties and towns, but with that I can comfortably state I have no idea!

  by David
 
Is the U-34CH going to be used?--On topic now-- :wink:

  by blockline4180
 
David wrote:Is the U-34CH going to be used?--On topic now-- :wink:

Well, if they can get a 2ND dinner train or some sort of fall folliage excursion train running then maybe the U-34CH can be used on that somewhere!!

I think the original plan for the passenger train is to use the E8(s) he bought !

  by Steve F45
 
so wait, he bought two E8's or one? If he did have a dinner train why not just have the u34ch trail and use it on the return run?

OT. i did receive an email about mr. rich's health. I too hope he pulls through with a full recovery. I've always thought since rumors were abound last fall about Mr. Rich retiring, if Mr. Wilson would step up and maybe merge his and nysw together somehow.

  by blockline4180
 
2005Vdub wrote: if Mr. Wilson would step up and maybe merge his and nysw together somehow.

You never know! Anything can happen! :P

  by Steve F45
 
blockline4180 wrote:
2005Vdub wrote: if Mr. Wilson would step up and maybe merge his and nysw together somehow.

You never know! Anything can happen! :P
haha

  by blockline4180
 
From the Wayne County EDC site:

Ideal Steel Supply Corp. is anxious to start using Palmyra Business Park for steel storage. Corporate officials are making regular visits to the County and working on details with the Shippers Assoc. Restoration of the Hawley railroad bridge is a major component of the overall project. A funding application for bridge repairs is with the Federal Emergency Management Agency (FEMA) and the agency has 90 days to review the request. Sen. Specter and Cong. Carney have provided good support for the project.



Got this from the PA forum! Thought it was relevant since it may be NY&GL providing the freight service!

  by cjvrr
 
RichM wrote: Let's go one further, because now I'm curious. Anyone here with the group that runs the Easter Bunny Train on NJT, the Volunteer Railroaders Association? Running NJT equipment with NJT personnel, isn't there still a small insurance rider? Or friendly enough with Mr. Levin to see what challenges he faces on both Amtrak and other railroads?
Rich and Group,

The VRA's rental agreement with NJT of the train set comes with the proper insurance coverage. Hence the reason we run these trains with NJT equipment and crews.

Remember a few years back someone advertised a trip here to run an Amtrak train up the Deleware? They were using Amtrak because by renting a train from them you automatically get the proper insurance to run on the line. A novel idea that just didn't work out because the ticket prices were in the $200+ range.

As an aside, I got a price for a one weekend $100 million dollar insurance policy for a motorcar excursion. The price was $90,000 to increase the limits of insurance.

No matter how you slice it, its going to cost some major money to get the proper insurance in place. But with Erie E-8, a U34-CH, the EL Dining Car Preservation Society's work and the collection of pax cars that Mr. Wilson has put together, if it all comes together it will be one FINE trip as darn near as you will ever get to the real thing.


Chris

  by blockline4180
 
No matter how you slice it, its going to cost some major money to get the proper insurance in place. But with Erie E-8, a U34-CH, the EL Dining Car Preservation Society's work and the collection of pax cars that Mr. Wilson has put together, if it all comes together it will be one FINE trip as darn near as you will ever get to the real thing


Thats for damn sure!! I'm crossing my fingers that some sort of passenger/dinner train or excursion will run SOMEWHERE by this Fall or the following summer!

From what I was told, Jimmy has pretty deep pockets now so if anything happens he can make it happen! Lets hope! :-D
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