A passenger rail package that passed the Florida House on Monday would create a new regional rail system for Central Florida (SunRail), provide annual funding for for the existing Tri-Rail system serving southeastern Florida, and authorize a new venture into high speed passenger rail.
In the state Senate, however, the bill barely survived its first committee vote, winning 5-4 after a pro-rail senator replaced a member of the Transportation Committee who was absent due to illness. On a tie vote the bill would have died.
The main provision of the bill would authorize the state to pay CSX Corp. $432 million for 61.5 miles of track for the long-planned SunRail regional passenger system serving Orlando and other points in Orange, Osceola, Seminole, and Volusia counties. CSX would retain the right to operate freight trains on the line under stated conditions.
The bill would also require the state to pay an annual premium of about $2 billion for $200 million in liability insurance for SunRail.
For Tri-Rail in southeastern Florida, the bill provides $13 million to $15 million in annual operating assistance.
Through earmarks totaling $2.5 billion over 30 years, mostly in federal funds, the bill would set into motion planning for a high speed rail system in the Tampa-Orlando-Miami corridor.
The New York Metropolitan Transportation Authority has learned that revenue from a new payroll tax for transit will run about $200 million short of expectations, a development that MTA's chief financial officer, Gary Dellaverson, called "shocking" in an email message to board members.
The payroll tax is part of an MTA aid package that the state legislature put together last spring.
Dellaverson said the agency was concerned "both because of the magnitude of the underrun (20%) and the late date of its discovery." An operating budget of around $10 billion is to be presented to the board for its approval next week.
The MTA had to cope earlier with a reduction in the support it receives from an urban real estate that was hard hit by the recession. Dellaverson said in November that to close that gap it would need to tap $150 million in reserves.
Amtrak says its ridership during the Thanksgiving Day week this year set an “all-time record,” with ridership up 4% compared with the comparable period in 2008; ticket revenue rose 1% compared with the year-ago period.
Amtrak says 685,876 trips took place between Nov. 24 and Nov. 30, generating $44.1 million in ticket revenue, which it claims is “the best weekly performance in company history.”
“Once again, our performance illustrates the growing popularity of passenger rail service, which is a credit to our front line employees who operate a great railroad,” said Emmett Fremaux, vice president, Marketing and Product Development. “To outperform our previous ridership record from FY08, when gas prices were much higher, is a great accomplishment.”
“On behalf of the entire executive team, I want to thank every employee for their dedication to safety and customer service during such a busy time,” said President and CEO Joe Boardman.
The Port Authority Trans-Hudson (PATH) rail system will get $356.9 million for new rolling stock, a new signal system, and other improvements under a preliminary capital spending program announced by the Port Authority of New York & New Jersey.
The bistate agency's capital plan also contains $503.9 million for continuing work on Access to the Region's Core projects and $349.7 million for the World Trade Center Transportation Hub.
Under PATH's proposed new capital budget, the biggest item is a $109.9 million payment toward the ongoing acquisition of 340 new passenger cars, which are being built by Kawasaki. The new signaling system is budgeted at $65.5 million. For infrastructure improvements, PATH is allocated $30.6 million; and for stations, $11.7million.
The Port Authority's total 2010 capital program is estimated at $3.1 billion and includes investments in airport and marine facilities as well as rail.
In announcing the program on Dec. 3, PATH said that in order to maintain a focus on long-term capital improvements, it was implementing new operating cost controls including job cuts that will bring staffing to the lowest level in 40 years.
The Federal Trade Commission has given Berkshire Hathaway, Inc. antitrust approval for its planned takeover of Burlington Northern Santa Fe Corp.,operator of BNSF Railway. The approval, which was expected, appeared Mondayin a list of antitrust clearances routinely issued by the FTC.
Berkshire has offered to pay $26.4 billion for the 77.4% of BNSthat it does not now own. Combined with previously owned shares and$10 billion in debt, the takeover is valued at around $44 billion.
Berkshire has also filed a preliminary proxy statement withthe Securities and Exchange Commission giving notice that it has set Jan.20 for a special shareholders meeting in Omaha. Shareholders will beasked to approve a 50-for-1 split of Berkshire's Class B shares. The higher-priced Class A shares will not be affected.
The split would bring Class B shares down to about $66 eachfrom their current level of around $3,300.
Berkshire's Warren Buffett said earlier in an interview withCNBC that the split will enable "anybody that has as little as oneshare of BNSF to opt for the tax-free exchange ... So those small shareholderscan have exactly the same availability that otherwise would only have beenavailable to a big shareholder."