It is currently Sat Nov 18, 2017 3:42 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 51 posts ]  Go to page 1, 2, 3, 4  Next
Author Message
 Post subject: Changes at Iowa Pacific
PostPosted: Tue Jan 03, 2017 7:11 pm 

Joined: Thu Jan 14, 2016 9:35 pm
Posts: 67
As stated in another thread there appear to be a number of changes taking place at Iowa Pacific and subsidiaries. The company appears to be experiencing a period of "negative expansion." As they operate a lot of heritage equipment as well as rail lines that may be historic in nature, I thought this might be good time to inventory and keep tabs on the company as whole.

I am unwilling to reveal my sources but, according to several very recent employees, the company is likely to divest itself of much passenger related equipment / property. Due to the number of those who read this forum it may also be prudent to compare notes in case the equipment or properties are sold off. If there are any cases where property was not paid for or may have a lien on it to the knowledge of an active reader, this might help those wishing to purchase or otherwise acquire/ re-acquire the property to keep from encumbering themselves with any legal mess (thus hindering any preservation effort.)

Additionally, this would be time to point out any historically significant facts or reasons to lead/ form a new (if necessary) preservation effort related to any property that my be disposed of.

US Railroads include the:

Mount Hood Scenic
San Luis & Rio Grande
Santa Cruz & Monterey Bay
Chicago Terminal
Piedmont & Northern
Granada Railroad
Mass Coastal
Saratoga & North Creek

I'm sure someone out here has a pretty accurate equipment roster to help us start off.


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 11:06 am 

Joined: Sun Aug 22, 2004 5:19 pm
Posts: 1603
Location: Pottstown,Pa.
With all due respect may I suggest that Ed Ellis has been counted out many times in the past and always lived to play another day.

Its way too early to be summoning the buzzards.

IMHO-Ross Rowland


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 12:51 pm 

Joined: Thu May 05, 2016 6:30 pm
Posts: 85
Location: Illinois
If this is true, will the Hoosier State be affected? It's a railfan favorite of mine and it would be terrible to lose it.

Thomas Dyrek

_________________
Railroad station historian


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 12:54 pm 

Joined: Thu Jan 14, 2016 9:35 pm
Posts: 67
I'm sorry you feel that way Mr. Rowland. I respect your efforts to preserve historic railroad equipment at your own expense. I also respect Mr. Ellis's efforts to preserve through private enterprise. This is not an attempt to count Mr. Ellis out but, with over 200 layoffs (not just seasonal) and the apparent disappearance of the Pullman service it would be foolish to ignore vast quantity of heritage equipment sitting idle on various IPH properties and assume "everything is fine." When things slow down to a point where such layoffs are needed, unused or unwanted equipment often follows.

Mr. Rowland, you are a businessman and understand the way railroads work. You know the expense and time involved with restoring and operating these machines. Is it unreasonable to think that a steam engine might receive minimal if any attention from someone concerned with developing and improving a freight or modern passenger railroad company?

I would hope that perhaps a reader may see or note a piece of rolling stock of interest and be able to purchase it without having to fight scrappers who often overbid on railroad equipment and abandon half-scrapped projects that can't be restored. We often see the proverbial "I wish I had known sooner" when things of historic nature are suddenly facing a "move or die" ultimatum. This merely an effort to stay abreast of relevant changes to the unique and impressive heritage fleet.

I wish Mr. Ellis and IPH (employees too) the greatest of success due to the nature of their work. If they fail it does me no good and it decreases the number of places to see vintage equipment doing what it was made to do.


Last edited by hotbox on Wed Jan 04, 2017 1:33 pm, edited 1 time in total.

Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 1:07 pm 

Joined: Thu Jan 14, 2016 9:35 pm
Posts: 67
Trainkid456 wrote:
If this is true, will the Hoosier State be affected? It's a railfan favorite of mine and it would be terrible to lose it.

Thomas Dyrek


That would not be directly related to any change at IPH but...

If the push for daily service on the Cardinal continues / grows and the Cardinal service is expanded, then the Hoosier State is likely to be unneeded at some point.


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 3:10 pm 

Joined: Sun Apr 04, 2010 12:15 pm
Posts: 44
The problem this time is there is nothing left to sell to raise cash. Out of all the remaining railroads they have left, CTM would be the only one that might be worth something. There is no Arizona Eastern left to sell to raise cash.

I have been to or worked on all of these except the MS operations. It's going to get real tough if the rumors are true.

Jason


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 4:01 pm 

Joined: Sun Aug 22, 2004 7:19 am
Posts: 5250
Location: southeastern USA
I've heard nothing local about any changes on the P&N, but it's not much of a breadwinner anyhow. If I hear more I'll pass it along.

_________________
"Techies never minded eating bits and jots of their work. They were grit and grease inside and out and could turn a pile of junk into a magical kingdom."

Andrea Hairston


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 4:30 pm 

Joined: Fri Aug 27, 2004 4:02 pm
Posts: 973
Location: Back in NE Ohio
hotbox wrote:
Trainkid456 wrote:
If this is true, will the Hoosier State be affected? It's a railfan favorite of mine and it would be terrible to lose it.

Thomas Dyrek


That would not be directly related to any change at IPH but...

If the push for daily service on the Cardinal continues / grows and the Cardinal service is expanded, then the Hoosier State is likely to be unneeded at some point.


Maybe not. Local passenger train advocates would like to see additional daylight service Indy-Chicago, maybe expanded down to Cincinnati.


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 4:41 pm 

Joined: Sun Aug 29, 2004 4:49 pm
Posts: 346
To add a small point/correction to this discussion, the Pullman Service to New Orleans was discontinued a little over a year ago for various reasons, thus it isn't necessarily a part of this latest round of rumored cutbacks and layoffs. However, it's probably safe to assume that if it had been turning a reasonable profit, it might still be in operation.


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Wed Jan 04, 2017 6:42 pm 

Joined: Sun Aug 22, 2004 7:19 am
Posts: 5250
Location: southeastern USA
I've heard the P&N will be open for bids for 2017, but haven't seen any paperwork on it yet. Alan? Ken? Anybody???????

_________________
"Techies never minded eating bits and jots of their work. They were grit and grease inside and out and could turn a pile of junk into a magical kingdom."

Andrea Hairston


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Fri Jan 13, 2017 8:54 pm 

Joined: Thu Jun 22, 2006 4:25 pm
Posts: 217
The recent discussion regarding IPH reminded me of this except from page 4 of the December 2016 issue of The Green Block, the newsletter of the Central New York Chapter NRHS:

Jeff [Hagan] noted that December is the last month of scheduled E-8 payments from Iowa Pacific. [Treasurer] Josie [LeMay] indicated that the payments are many months in arrears. Question remains what to do about the situation.

The excerpt may bring to mind this article from August 3, 2013:

Rails of debt: Parent company of local train operator struggles
http://www.santacruzsentinel.com/articl ... /130807647

Excerpt: "The list of people that are owed money would probably fill several pages of your newspaper," said one local debtor, who asked not to be identified.


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Mon Jan 16, 2017 1:35 pm 

Joined: Tue Sep 23, 2014 8:13 pm
Posts: 4
Further reading:

http://news10.com/2017/01/11/polar-expr ... -paycheck/

This seems to indicate that the company is in a severe cash crisis, all the more alarming because the Polar Express trains are usually the high point of annual cash flow. From friends who work / worked at IPH, I have heard that between 250-300 employees have been terminated and there is some effort to wind down elements of the business. It looks very bad.


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Mon Jan 16, 2017 4:17 pm 

Joined: Thu Aug 21, 2008 8:29 pm
Posts: 318
I still would like to point out...IPH is not a museum or a historic operation. Beyond that things have "looked bad" for IPH since day one. I just hope that everybody who is owed money will be made whole before they completely disappear.
T7


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Mon Jan 16, 2017 5:03 pm 

Joined: Sat Oct 17, 2015 5:55 pm
Posts: 327
Tim Moriarty wrote:
The recent discussion regarding IPH reminded me of this except from page 4 of the December 2016 issue of The Green Block, the newsletter of the Central New York Chapter NRHS:

Jeff [Hagan] noted that December is the last month of scheduled E-8 payments from Iowa Pacific. [Treasurer] Josie [LeMay] indicated that the payments are many months in arrears. Question remains what to do about the situation.

The excerpt may bring to mind this article from August 3, 2013:

Rails of debt: Parent company of local train operator struggles
http://www.santacruzsentinel.com/articl ... /130807647

Excerpt: "The list of people that are owed money would probably fill several pages of your newspaper," said one local debtor, who asked not to be identified.


IP leases a lot of their equipment so if they quit completely hopefully in most cases the owners will simply reclaim it, though one can imagine a situation in which cars and engines are across the country from a museum that can't afford to ship it back to themselves. However, IP owns some things themselves that were never restored, the Lion Gardiner comes to mind (although I have never seen photos of it being moved or stored anywhere) that may be in danger if storage fees stop being paid, wherever it is. If IP stops operating and they no longer have ticket revenue they will be in worse cash flow situation than they are even now and will probably stop paying storage fees. Now that RBBB is quitting also, we may see a lot of equipment dumped at the same time, overwhelming organizations ability to take it all. All speculation and a worse case scenario but something to keep in mind,.


Offline
 Profile  
 
 Post subject: Re: Changes at Iowa Pacific
PostPosted: Mon Jan 16, 2017 6:23 pm 

Joined: Thu Aug 21, 2008 8:29 pm
Posts: 318
I understand that IP strores MOST of its equipment in a very remote, safe place where nobody will have to worry about it. None of it was ever restored, none of it even came close to being restored. I doubt that stuff will ever see the light of day ever again.

IP has never paid car leases promptly...it has always taken a long painful time for them to pay. In their defence, they usually do make good on leases and purchases...it just takes a long time.

And furthermore...nobody is going to want that circus equipment. That stuff is just a lot of shells and random parts. Nothing historical there at all...we are talking old commuter coaches and baggage cars tubed out to the walls. So do not fret about he market being flooded with cars that museums will want or need.

T7


Offline
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 51 posts ]  Go to page 1, 2, 3, 4  Next

All times are UTC - 5 hours [ DST ]


 Who is online

Users browsing this forum: Bing [Bot], Google [Bot], Majestic-12 [Bot] and 34 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to: