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Tom M wrote: ↑Fri Nov 01, 2019 3:04 pm Looks like a New Hampshire plate to me. AP (as in apportioned), not AF.TM: The pictured bus has New Hampshire Commercial plate AF9615...GM had this right.
On Wednesday, October 30, 2019 In an article entitled "Start-Up Rail and Bus Service Frustrated by RIDOT Bureaucracy", the GoLocalProv Business Team wrote: Start-Up Rail and Bus Service Frustrated by RIDOT BureaucracyRead the rest of this story at GoLocalProv's web site
Wednesday, October 30, 2019
GoLocalProv Business Team
Vincent Bono is not your average transportation CEO. The former tech executive who is trained as an engineer has been working for the past three-plus years to build one of America’s first modern private passenger rail companies — Boston Surface Rail Company.
He says his biggest challenge is working with Rhode Island bureaucrats.
The first market the company selected to provide service was Rhode Island to Central-Massachusetts and specifically, Woonsocket to Worcester. Bono said it was Rhode Island Department of Transportation (RIDOT) officials who worked to recruit his company to locate at the historic train depot which was built in 1882.
“The area is underserved — there is a tremendous number of people in the greater Woonsocket area that commute to Worcester. Woonsocket has virtually no transportation options, and one of the biggest corporations in the country [CVS] is unsupported by public transportation,” said Bono.
“More transportation options for Rhode Island is better,” said Bono, who expects to test the rail service in 2020.
Starting more than three years ago, the company signed a lease with RIDOT to takeover the Woonsocket station.
“DOT recruited us hard to locate to Woonsocket, but since those two people retired, Director [Peter] Alviti has been very difficult and been working to get us out of the Depot,” said Bono.
Bono tells GoLocal that as a result of the deal between RIDOT and Boston Surface Rail, Rhode Islanders have saved over $60,000 in maintenance costs annually and the company has paid $35,000 and is now paid ahead in its rent.
Bono said the company filed for Chapter 11 bankruptcy protection in Federal Court in New Hampshire for the sole purpose of protecting the asset the lease.
On 10/30/2019 In an article entitled "Train company launches bus service", LAUREN CLEM, Valley Breeze Staff Writer wrote:Read much more of this story at the Valley Breeze's web site
Train company launches bus service Company officials: Bankruptcy filing is ‘business strategy’
By LAUREN CLEM, Valley Breeze Staff Writer
WOONSOCKET – Less than one month after filing for Chapter 11 bankruptcy in the state of New Hampshire, the company looking to bring passenger rail service to the Blackstone Valley is introducing a new transportation method.
The Boston Surface Railroad Company announced this week they plan to offer thruway bus service between Woonsocket, Providence and Worcester, Mass., beginning next February. The service will offer commuter-time transportation between the three cities, with seven round trips from Woonsocket and four round trips from Worcester planned daily.
“This is, of course, a pre-service to our intercity rail service which will be launching one year later,” Vincent Bono, company founder, said during a press event on Monday.
The announcement came just three weeks after the company filed for bankruptcy in Concord, N.H., on Oct. 6. The company incorporated in Concord last year after initially incorporating in Massachusetts in 2013.
Defending the filing on Monday, company officials said it was a “business strategy” intended to forestall the Rhode Island Department of Transportation’s attempts to evict them from their current office location at the Woonsocket Train Depot. In April, RIDOT filed suit against the company for allegedly failing to make lease payments for several months. A District Court judge ruled against the company in June, awarding more than $8,000 in lease payments to RIDOT. The company appealed the decision in Superior Court but filed for bankruptcy before a court date could be set, halting the judicial process.
Speaking to reporters on Monday, Bono said the decision to file was made in order to protect the company’s current status within the train station and was discussed internally in advance. The next step, he said, is for a judge to issue a decision on their organizational documents within 30 to 90 days.
“None of our potential investors are upset with out current situation,” he said.
MACTRAXX wrote: ↑Sat Nov 02, 2019 1:15 pmThe VIN comes up as 1M8PDMPA7YP053128. A google search reveals its past owner was Precious Cargo Tours of Ohio.Tom M wrote: ↑Fri Nov 01, 2019 3:04 pm Looks like a New Hampshire plate to me. AP (as in apportioned), not AF.TM: The pictured bus has New Hampshire Commercial plate AF9615...GM had this right.
New Hampshire Apportioned plates are in a 2AP123 format...
As a license plate buff making this ID was relatively easy...MACTRAXX
On November 14, 2019 In an article entitled "Private rail firm eyeing New Hampshire service files for bankruptcy", Bob Sanders of the NH BUSINESS REVIEW staff wrote: Private rail firm eyeing New Hampshire service files for bankruptcyRead much more of this story at NH BUSINESS REVIEW's web site
But CEO calls it ‘purely strategic’ move in legal action with Rhode Island
November 14, 2019 Bob Sanders
Boston Surface Railroad Company, a private firm working to bring commuter rail to New Hampshire, filed last month for Chapter 11 bankruptcy protection in Bankruptcy Court in Concord.
Boston Surface CEO Vincent Bono told NH Business Review that the filing was a “purely strategic” attempt to fend off an attempt by the state of Rhode Island to take back a Woonsocket railway station because of a legal dispute over rent and other issues – a few months before the company planned to launch bus service there as a precursor to rail service there.
“We are not filing this to get out of debt but to protect a key asset,” said Bono, who promised that once a reorganization plan was filed in a couple a weeks, it would be clear that “everybody would get paid. Nobody will lose any equity.”
Bono also said that he expects New Hampshire rail plans will go forward in the future, though that depends on a lot of factors, including the company’s performance in Rhode Island and Massachusetts, and what New Hampshire does, now that the Legislature has passed a bill to pursue public commuter rail.
On Nov 14, 2019 In an article entitled "After filing for bankruptcy, private rail firm says work with Nashua is ‘sort of on hold’", Kimberly Houghton Union Leader Correspondent wrote:Read the rest of this story at Union Leader's web site
After filing for bankruptcy, private rail firm says work with Nashua is ‘sort of on hold’
By Kimberly Houghton Union Leader Correspondent | Nov 14, 2019 | Updated Nov 14, 2019
NASHUA — Boston Surface Railroad Company, the entity working with the city to potentially bring passenger rail to Nashua, has filed for Chapter 11 bankruptcy.
According to Vincent Bono, president of BSRC, the decision to file for bankruptcy is a strategic move that resulted from a political dispute with the Rhode Island Department of Transportation.
“We are not going anywhere. There is still a lot of work to be done and we are pretty optimistic,” he said on Thursday.
Bono said BSRC is still in open discussions with Nashua leaders, but its plan to explore federal funds with the city to potentially bring rail to Nashua is “sort of on hold.”
More than two years ago, the city entered into a memorandum of understanding with BSRC to create a plan to bring privately-funded passenger rail service to the Gate City.
And, in 2018, the city hired AECOM of Los Angeles, Calif., to provide rail consulting services to help with that initiative. At the time, officials said a consulting expert is necessary to help review documents and provide special advice to the city as it moves forward with its partnership with BSRC, in order to help protect Nashua’s interests and position the city appropriately when planning for rail.
Bono stressed Thursday that he will not let his investment go to the wayside, explaining he has already forked over $1.5 million of his own money, and debt, to get the company off the ground.
The bankruptcy filing is intended to protect the company’s assets, he said, adding there will be no discharging of debt and no stocks will be liquidated.
“I will probably take a hit as the guy at the helm, but that is what it is,” said Bono.
BSRC is working not only with Nashua, but also with Worcester, Mass., Lowell, Mass and Woonsocket, R.I., to potentially bring passenger rail to those communities.