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July 2015

CITIZENS AGAINST RAIL EXPANSION WANT THE U.S. COAST GUARD TO HOLD FEC ACCOUNTABLE FOR THE MISMANAGEMENT OF THREE FLORIDA BRIDGES

Issues with the St. Lucie, Loxatachee and New river train bridges have resulted in “unreasonable obstructions to navigation” that need to be “dramatically altered,” CARE’s attorney, Stephen Ryan, said in the letter.

Each of the bridges has failed to operate “numerous times” due to malfunctioning equipment, and the St. Lucie bridge has “often stayedclosed for hours,” according to the letter.

ALL ABOARD FLORIDA OPPONENTS TAKE AIM AT TEXT MESSAGES ABOUT BOND MEETING

An attorney fighting the All Aboard Florida project is taking aim at a series of text messages between a representative of the rail company and the chairman of the state board that will decide whether the project receives $1.75 billion in tax exempt bonds.

FDFC TO MEET IN ORLANDO ON AUGUST 5TH REGARDING ALL ABOARD FLORIDA'S $1.75 BILLION TAX-EXEMPT BOND REQUEST

All Aboard Florida won preliminary approval from the U.S. Department of Transportation in December to issue $1.75 billion in tax-exempt bonds to help pay for its express-passenger rail line planned between Miami and Orlando. The company has been given until Jan. 1 to sell the bonds to private investors.

Before it can move forward with the sale, All Aboard also needs the blessing of the Florida Development Finance Corp.

VIEW TEXTS BETWEEN AAF CONSULTANT MATT MOHLER AND FDFC CHAIRMAN FRANK WHITE

We knew from the start of AAF’s quest for cheap, publicly financed capital that they work the inside deals and have millions to spend on lobbyists and public relations/advertising firms and here is a fine example of how this all pays off.  AAF desperately needs the tax-subsidized Private Activity Bonds and are working behind the scenes with the Florida Development Finance Corporation to expedite the quasi-governmental agency’s approval process. 

CONNECTICUT PAYS MILLIONS FOR TRAIN CRASH LAWSUITS, WITH NO SAY IN SETTLEMENTS

The state this week paid $3.2 million to a woman injured in a 2013 train crash in Bridgeport as part of the settlement in a federal lawsuit filed against the Metro-North Commuter Railroad.

The payment was noteworthy beyond the significant amount: The state was not a defendant in the suit but had to pay based on a little-known, longstanding agreement with Metro-North that requires the state to contribute 65 to 100 percent of the rail company's costs — including the settlement of lawsuits.

MONTANA TRAIN DERAILMENT: 35000 GALLONS OF OIL SPILLED

Four tank cars leaked an estimated 35,000 gallons of oil after a train hauling fuel from North Dakota derailed in rural northeastern Montana, authorities said.

The spill marked the latest in a series of wrecks across the U.S. and Canada that have highlighted the safety risks of moving crude by rail.

ALL ABOARD FLORIDA WILL NOT ATTEND NEXT FDFC MEETING ON JULY 21ST IN ORLANDO

All Aboard Florida will not attend the next meeting of the Florida Development Finance Corp., tentatively scheduled for July 21 in Orlando, a company official said.

“AAF is not attending this meeting,” spokeswoman Lynn Martenstein said Friday.

The finance corporation has refused to comment on the June 21 meeting agenda and whether All Aboard Florida’s application for $1.75 billion of tax-exempt private activity bonds would be discussed.

FORTRESS INVESTMENT GROUP SHUFFLING LEADERSHIP

PARENT COMPANY OF FLORIDA EAST COAST RAILWAY MAKING CHANGES AFTER RECENT LOSSES AND INVESTOR WITHDRAWALS

Fortress Investment Group FIG -3.06 % LLC is shuffling the leadership of its flagship hedge fund on the heels of heavy recent losses and significant investor withdrawals, according to people close to the matter.

Michael Novogratz is expected to run the Fortress Macro Fund alone as part of the restructuring, these people said. Co-manager Jeff Feig, a former Citigroup Inc. C -3.12 % senior executive, will leave Fortress.

FDFC SETS TENTATIVE HEARING JULY 21ST IN ORLANDO

The Florida Development Finance Corp. has tentatively set a hearing for 2-3 p.m. July 21, during which All Aboard Florida’s request for $1.75 billion of private-activity bonds could be discussed.

According to the finance corporation’s website, the Orlando meeting would include a discussion on “ongoing issues, developing issues and other matters.” A finance corporation spokeswoman could not be reached for comment.

MARTIN COUNTY SUBMITS NEW INFORMATION TO US COAST GUARD

Rear Admiral Scott A. Buschman, Commander

United States Coast Guard District Seven

Bridge Administration Branch

Brickell Plaza Federal Building

909 SE First Avenue

Miami, Florida 33131-3050

 

RE:  Obstruction of Navigable Waterways - St. Lucie River

Dear Rear Admiral Buschman:

FREIGHT TRAIN CARRYING FLAMMABLE AND TOXIC GAS DERAILS AND BURNS OUTSIDE OF KNOXVILLE- 5,000 RESIDENTS EVACUATED

More than 5,000 residents were evacuated after a freight train carrying a "highly flammable and toxic gas" partly derailed and caught fire overnight just outside Knoxville, Tennessee, officials said.

Ten officers were hospitalized after breathing in fumes, Blount County Sheriff's Department spokeswoman Marian O'Briant told NBC News.

One car of the train derailed and was on fire, railroad officials said.