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December 2017

AMTRAK RAIL TRAGEDY HAS "BRIGHTLINE" WRITTEN ALL OVER IT

We agree with Ms. Anderson's TCPalm Letter to the Editor; The horrid Amtrak tragedy has "Brightline" written all over it.

Ms. Anderson comments, "DuPont, WA fought to keep Amtrak out before the killer crash on Dec. 18. Officials warned a new route for a high-speed passenger train would be a disaster... Brightline high-speed trains will have the same result."

Read more here.

AMTRAK CRASH RAISES SAFETY CONCERNS ABOUT BRIGHTLINE'S HIGH-SPEED TRAINS

AFTER THE FATAL AMTRAK TRAIN DERAILMENT IN WASHINGTON STATE, QUESTIONS REGARDING BRIGHTLINE'S HIGH-SPEED PASSENGER TRAINS SAFETY ARISE ONCE MORE. The Amtrak train in Washington derailed going 80 mph in a 30 mph zone. Brightline intends to serve trains that are expected to reach speeds of 79, 110 and 125 mph.

"I am afraid of this happening on the Treasure Coast," said Indian River County Attorney Dylan Reingold. "I think it paints a real picture of our real concerns."

WITH PABS PRESERVED, ALL ABOARD FLORIDA WON'T RUSH NEXT FINANCING

THE FLORIDA DEVELOPMENT FINANCE CORP CANCELED AN EMERGENCY MEETING MONDAY THAT HAD BEEN CALLED TO APPROVE $1.15 BILLION OF PRIVATE ACTIVITY BONDS FOR THE ALL ABOARD FLORIDA HIGH-SPEED PASSENGER TRAIN PROJECT.

"The meeting has been canceled in light of the tax reform package that was approved," FDFC Executive Director Bill Spivey said, referring to the congressional agreement on tax legislation announced Friday preserving the use of PABs.

AMTRAK TRAIN TRAVELED AT 80 MPH, FAR OVER 30 MPH LIMIT, BEFORE DERAILING

LATE MONDAY NIGHT, AN AMTRAK TRAIN JUMPED THE TRACKS AT A SPEED OF 30 MPH AND CAREENED INTO A BUSY HIGHWAY. At least three people were killed and 100 were injured, officials said. The train was bound from Seattle to Portland, OR, and was traveling 50 miles per hour over the speed limit of 30 mph.

This accident mirrored Amtrak's worst disaster in 2015 when a train derailed at more than 100 miles per hour in Philadelphia, killing eight people.

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.