Passenger Trains > IPH operations

The layoffs at various IPH entitites and the late paychecks have been discussed at length.  To what extent is IPH still running.  The Hoosier State comes to mind, as does reservations for the upcoming Reno Snow Trains.  For that matter what about the various freight operations.  It certainly seems clear that IPH is struggling financially (so what is new!) but what is still going on.  IPH's approach to financing and running the business can be criticized, but a lot of the things IPH does are certainly of railfan interest.  Would be nice to be able to piece together a bit more about what is still happening, if anything.  

JBWX

What we've heard or can deduct directly or in between the lines from various forums on Train Orders:

- Late checks being issued (or not at all) - meaning there's cash flow issues (and let's not compare a 1970s payroll to a 2017 payroll please). Exepectation today in the 21st century - you get paid what you are owed on a regular basis. Not a "little here" and "little there."

- Vendor payments getting delayed

- Obtaining loans on equipment that hasn't been fully paid off - THAT's a disaster waiting to happen.

- Reduction in work force between end of December and beginning of January at least. But if you are stupid enough to fire the payroll clerk(s)/manager - there's a deeper problem.

- Lack to modernize the payroll - as I take on jobs first thing I want to know - is payroll outsourced and to whom. Too much liability around payroll these days to not oursource it. BUT, you better have the money to meet your payroll, as money is impounded for the upcoming payroll.  

- Lack of invdestors. Whatever investors IPH has, appears there's no proactive plan to bring more on. Yes, additional investors dilute current investors, but they bring new $$$ to the table.

- Where's Mr. Ellis? Can we get info direct?

So what's the scoop? Sounds like IPH has some serious problems going on if one were between the lines in these threads.

If IPH explodes, I really home Amtrak takes a hard look at the equipment IPH has - particularly the domes. IPH amassed quite the collection and if they go into bankruptcy you could perhaps get a good deal on an Amtrak certified dome!

During the 8 years I was with IPH, they had a payroll service handling the paychecks.  They used several different ones over the years.  I heard from a seperated Texas State RR employee, that the payroll service - and direct deposit functions - were suspended sometime last year and they returned to live checks.  With the conditions that the checks could not be cashed before 5pm on paydays.  

Tight cash situations are not uncommon in business.  I remember a guy who interviewed with Conrail who was told to cash his expense check that day.  At one time during its declining years SP was living on "cash fumes" and there was some question as to whether there was enough cash in the bank to cover payroll.  The problem with IPH is they have pursued of a strategy of arguably reckless expansion, and pissed away opportunities to use the cash they had create a more stable business.

JBWX