Lack of Transparency

75 PEOPLE HAVE DIED ON FLORIDA RAIL SYSTEMS IN LESS THAN 18 MONTHS | SUSAN MEHIEL'S LETTER TO O’ROURKE

Dear Mr. O’Rourke,

Per your letter below sent to a number of people on the Treasure and Space Coasts of Florida, I would like to take the opportunity to point out a number of issues.

VIRGIN TRAINS USA SELECTS CONTRACTORS FOR ORLANDO RAIL EXPANSION

VIRGIN TRAINS USA HAS SELECTED CONTRACTORS WHO WILL BE RESPONSIBLE FOR DEVELOPING 170 MILES OF RAIL EXPANSION FOR PHASE 2 BETWEEN ORLANDO AND SOUTH FLORIDA. These contractors include Hubbard Construction Company, Wharton-Smith Inc., The Middlesex Corporation, Granite and HSR Constructors.

Read more here.

WITH 76 TRAIN DEATHS IN 3 YEARS, FLORIDA EAST COAST RAILROAD IS MORE DANGEROUS THAN REPORTED

AN ANALYSIS HAS IDENTIFIED AT LEAST 76 DEATHS BY BRIGHTLINE (NOW VIRGIN TRAINS USA) PASSENGER AND FLORIDA EAST COAST RAILWAY FREIGHT TRAINS SINCE 2015, by USA Today. Railroad administration data only shows 55 fatalities.

According to Federal Railroad Administration spokesman Warren Flatau, not all deaths are public on the Federal Railroad Administration data due to "suicide reporting restrictions intended to safeguard privacy."

VIRGIN TRAINS USA OWNER SELLS MIAMICENTRAL OFFICE BUILDINGS FOR $159M

VIRGIN TRAINS USA'S PARENT COMPANY, FLORIDA EAST COAST INDUSTRIES, SELLS OFFICE PORTION OF ITS MIAMICENTRAL STATION FOR $159.4 MILLION. This includes the ground floor retail, two office buildings and parking space, property records show. Tenants include Viacom, the Confederation of North Central America and Caribbean Association Football (CONCACAF) and Carlton Fields and Atlantic | Pacific Companies.

Read more here.

FLORIDA REAL ESTATE TODAY: VIRGIN TRAINS DISMISSES SAFETY CONCERNS

THE $1.75 BILLION DOLLARS VIRGIN TRAINS USA (FORMERLY BRIGHTLINE) IN PRIVATE ACTIVITY BONDS INTENDED IMPROVE THEIR HIGH-SPEED RAIL TRAIN SAFETY HAS BEEN INVESTED IN NON-ESSENTIAL REAL ESTATE DEVELOPMENT. Clearly, safety is not their top priority.

Treasure Coast residents and elected government officials are growing more and more concerned about Virgin Trains complete disregard for safety concerns about their 100+ mph trains which will be traveling through heavily-populated areas.

CALIFORNIA HIGH-SPEED RAIL PROJECT'S ESTIMATED COST RISES TO $79B, REPORT SAYS

ESTIMATED COSTS FOR THE CALIFORNIA HIGH-SPEED RAIL PROJECT INCREASED $2B TO A TOTAL OF $79B, according to a report by the High-Speed Rail Authority.

This project has been vehemently blasted by President Trump and other officials such as California Gov. Gavin Newsom comment that the full project "would cost too much and take too long."

The latest estimate for the high-speed rail project's completion is set for 2033.

Read more here.

NO MORE RAILROAD BOONDOGGLES!

WE DON'T NEED ANOTHER CALIFORNIA BOONDOGGLE, states Florida Alliance for Safe Trains Coordinator and Communications Director Susan Mehiel in a recent Sunshine State News article. Susan is referring to the now-defunct California high-speed rail project.

Tune in as Mehiel highlights the comparable deception and experimentation of the California and All Aboard Florida Virgin Trains' rail project, and how the Virgin Trains' project is going to fail like its predecessor.

VIRGIN TRAINS USA NAME WILL MAKE ITS FIRST MUNI MARKET APPEARANCE

VIRGIN TRAINS USA WILL BE ISSUING $1.5 BILLION IN PRIVATE ACTIVITY BONDS TO BE PURCHASED NEXT WEEK. These bonds will pay for the 236-mile passenger rail line between Miami and Orlando, refund the $600 million of PABs issued in 2017 and more.

This high-speed passenger train is not entirely supported. Safety advocates such as Susan Mehiel of the Florida Alliance for Safe Trains are concerned about having trains (that will run up to 100 mph) barreling through the Treasure Coast's densely-populated downtowns.

THE FUTURE OF HIGH SPEED RAIL

FULL SPEED AHEAD, SAYS VIRGIN TRAIN USA SAYS (FORMERLY BRIGHTLINE) DESPITE FRESH CONCERNS WHETHER THE PROJECT WILL HAVE ENOUGH FUNDS TO PAY FOR ITS EXPANSION. According to financial documents, Virgin Trains USA is at an $82 million loss in nine months and have recently decided to abandon a $500 million stock sale.

"They're bleeding money like crazy," commented Richard Rampell, CPA with MBAF in Palm Beach. "Based on the results that have happened so far, they've got a long way to go before they become profitable."

VIRGIN TRAINS USA SIDETRACKS PLANNED $538 MILLION IPO

As background, Indian River County has appealed Federal Judge Cooper’s decision in favor of Brightline at a cost of $400,000 to IRC. One of their claims is that the PABs are designed as highway bonds and not rail bonds. If the Judge’s decision is overturned and the $1.7B Private Activity Bonds (PAB) have been sold, these bonds will be recalled.  

If they have not been purchased, bondholders will have to factor in the possibility that these bonds may be recalled at a future date.