Small-Road Briefs: Alaska Railroad, Fortress

The newly formed External Issues Review Committee supports the mission, goals and business of Alaska Railroad.

The Alaska Railroad Corporation (ARRC) forms External Issues Review Committee and seeks an Alaskan to serve in the Public Member seat. Also, Fortress Transportation and Infrastructure Investors LLC (FTAI) completes its infrastructure business spin-off.

Alaska Railroad

The ARRC Board of Directors is seeking an Alaskan to serve in the Public Member seat on its newly formed External Issues Review Committee, which supports the mission, goals and business of the railroad through its dual roles of:

• “Considering and attempting to resolve specific external issues involving ARRC’s business that a customer or member of the public believes have not been adequately addressed by ARRC staff.”
• “Identifying and suggesting approaches for addressing ongoing, recurring issues between ARRC and its customers, members of the public, and communities that implicate a potential need to establish or modify ARRC policies and practices.”

The Public Member seat will have a two-year term expiring Sept. 30, 2024. ARRC provides a small stipend for the member’s participation in each committee meeting.

The Committee is comprised of four members, including the Board Chair; one of the two state executive agency Commissioners designated under AS 42.40.020 for membership on the Board; any other non-Commissioner director, at the discretion of the Board Chair; and a member of the public. The Board Chair functions as the Committee Chair, provided that the Board Chair may designate one of the other members of the Committee to serve as Committee Chair.

You can find the full Public Member criteria on the ARRC website.

More information on the External Issues Review Committee can be found in the Charter below.

FTAI

FTAI on Aug. 1 announced that it had successfully completed the spin-off of FTAI Infrastructure Inc.; last month, the company’s Board of Directors approved the details and timing of the move. FTAI Infrastructure on Aug. 2 began trading on the Nasdaq under the ticker symbol “FIP” and FTAI resumed trading under the ticker symbol “FTAI.”

According to FTAI, “holders of FTAI common shares as of the record date of July 21, 2022, and through the distribution date of Aug. 1, 2022, and those who purchased FTAI common shares on the ‘regular-way’ market after the close of business on the record date, and up to and including through the distribution date, have been electronically issued one share of FTAI Infrastructure common stock for each FTAI common share of FTAI held.”