Fortress Investment Group has failed to sell bonds to support its $8.4 billion Brightline West high speed rail project connecting Las Vegas and Southern California, according to BloombergQuint. But the project will go forward, a Brightline representative says.
Fortress Investment Group
According to a report on Bloomberg.com, DesertXpress Enterprises, a company backed by Fortress Investment Group’s private-equity funds, received the green light from the California Infrastructure and Economic Development Bank to get reimbursed for the cost of a Las Vegas rail project from a future bond sale, despite the fact that it failed to answer questions from California’s finance department.
Florida’s Brightline private higher-speed passenger rail service has a new investor, Virgin Group, headed by British billionaire Sir Richard Branson. Virgin Group will make a minority investment in Brightline, which will be managed and operated by Brightline’s executive team and affiliates of Brightline parent Fortress Investment Group. Brightline will rename itself Virgin Trains USA in November and transition to Virgin Trains USA branding in 2019, “leveraging the Virgin brand and marketing expertise for existing and future developments.”
The Central Maine & Québec Railway has named Chad Mowery as Vice President Operations, a promotion that was effective Jan. 1, and J. Wesley Logan as General Manager Operations, effective Jan. 15.
The Mexicans are coming. The Mexicans are coming—and within verbal-indignities-hurling distance of President Donald J. Trump’s Palm Beach, Fla., Mar-a-Lago “Winter White House.”