Why AAF Will Fail

BRIGHTLINE RAIL SERVICE BONDS GET NONINVESTMENT GRADE

BRIGHTLINE HAS RECEIVED A NON-INVESTMENT GRADE RATING ON $600 MILLION IN REVENUE BONDS THAT ARE TO BE ISSUED BY THE FLORIDA DEPARTMENT FINANCE CORP. Fitch Ratings, which was hired by Brightline's owner All Aboard Florida to rate the bonds, rated the bonds BB- last week.

AMERICA'S FIRST BULLET TRAIN IS A FAILURE AND IT HASN'T EVEN BEEN BUILT

AFTER THREE YEARS SINCE ITS UNVEILING, IT IS BECOMING CLEAR THAT THE TEXAS CENTRAL PARTNER'S BULLET TRAIN IS NOT WHAT IT WAS THOUGHT TO BE. This ambitious project may have appeared phenomenal on paper, but the plans are riddled with errors, stricken with financing complications, and projected sales just don't add up.

Texas Central Partner has indicated that they plan to apply for Railroad Rehabilitation and Investment Financing (RRIF) loans, which is a federally funded taxpayer subsidy. This means that taxpayers would ultimately have to pay the entire value of the loans.

TRAIN WRECK TIMES - UPDATE FROM THE FRONT LINES IN THE WAR AGAINST AAF

Susan Mehiel's Train Wreck Times - An Update from the Front Lines in the War Against AAF

BRIGHTLINE MIAMI-TO-ORLANDO TRAIN DELAYED AGAIN

BRIGHTLINE PASSENGER TRAIN SERVICE WILL NOW DEBUT BY THE END OF 2017 RATHER THAN EARLY FALL, THE MIAMI HERALD REPORTED.

"Brightline looks forward to launching service between Miami, Fort Lauderdale and West Palm Beach by the end of this year," a Brightline representative issued in a recent statement. "We want to ensure Brightline is reliable and safe for our guests and the surrounding communities while built to connect South Florida for the next 100 years."

Read more here

IS AAF OBSOLETE?

THE BULLET TRAIN THAT MAY COME TO MIAMI SUCCESSFULLY COMPLETED ITS SECOND PHASE OF TESTING, ACHIEVING HISTORIC TEST SPEEDS IN THE NEVADA DESERT. This incredible train travelled almost a distance of 500-meter (1640-foot) DevLoop track in the desert, according to the Hyperloop One announcement on Aug. 2.

The Hyperloop One XP-1, the company's first-generation pod, accelerated for 300 meters and glided above the track using magnetic levitation before braking and coming to a gradual stop.

STATEMENT BY BRENT HANLON, CHAIRMAN OF CARE FL AFTER U.S. HOUSE OF REPRESENTATIVES SUBCOMMITTEE HEARING

"AAF has claimed that it is a private enterprise. But the evidence does not support this claim." - Brent Hanlon

Tune into a statement by Brent Hanlon, Chairman of Citizens Against Rail Expansion (CARE FL) after the hearing with the U.S. House of Representatives Subcommittee on Railroads, Pipelines, and Hazardous Materials Hearing.

During this hearing, All Aboard Florida's Brightline was challenged that their company's claims of being 100% privately funded were false and that some of the federally-backed loans and private equity bonds being pursued included federal money.

THINK AGAIN - AAF WINS ONE, MAYBE LOSES ONE

On Tuesday, All Aboard Florida's Brightline high-speed passenger rail company gave a tour of its West Palm Beach station with public officials, business leaders and media - heralding it the beginning of a new era of "mobility" in South Florida passenger rail service.

However, the Trump administration unveiled a budget proposal that, among other things, would end Amtrak's three Florida routes. Think again, AAF.

Read more here.

CARE FL MAY 2017 REPORT - THE FIGHT IS FAR FROM OVER!

On May 10, 2017, U.S. District Court Judge Christopher Cooper dismissed the case filed in 2015 by Martin and Indian River Counties, after the U.S. Department of Transportation (DOT) withdrew the $1.75 billion Private Activity Bond (PAB) allocation for All Aboard Florida that was challenged by both Counties as well as two individual members of CARE FL.

REPORT FROM MARTIN COUNTY - IT'S NOT OVER

Two years ago, Martin and Indian River Counties filed federal lawsuits against the U.S. Department of Transportation (DOT) to stop the inappropriate use of taxpayer subsidized bonds to construction All Aboard Florida's high-speed passenger rail project.
AAF and DOT announced to withdraw the $1.75 billion in Private Activity Bond, in which U.S. District Court Judge Christopher Cooper dismissed said lawsuits.

AAF DOWNSIZES BOND FINANCING PLAN

 

All Aboard Florida’s Brightline has renewed its push to sell millions in tax-exempt bonds to help pay for its proposed passenger train service connecting South Florida to Orlando.

The Coral Gables-based company first sought permission to sell $1.75 billion in tax-exempt bonds in 2014, but the tight municipal bond market forced officials to shelve the sale last year.