by gokeefe
A lot of lumber. And as I recall that's been going on since the beginning.
gokeefe
Railroad Forums
Moderator: MEC407
newpylong wrote:...The obvious question is - why is an owner who is already so wealthy keeping something that contributes very little to their bottom line, especially if they are not willing to run it like a real railroad? There are scores of similar size operations throughout the country that are run smoother, have a better physical plant, and are financially viable. They saw their bread and butter traffic of the past 100 years drying up ahead of the implosion and were able to adapt and grow new traffic. ...My guess is estate planning. Isn't Mr Mellon rather elderly? If he sold PAR he'd have to pay capital gains tax (presumably), then turn around within a few years and his heirs would have to pay inheritance tax. Better to pay just one tax?
b&m 1566 wrote:30% voter turn out!!! That tells me the rest of the voters didn't give a rats *** one way or the other.The article as written actually spent quite a few paragraphs addressing exactly this issue. They were able to conclusively prove in my eyes at least that the interest from voters was unusually high for a special election.