Passenger Trains > WSJ: "Amtrak, Seeking to Break Even, Sees Some Light at the End..

https://www.wsj.com/articles/amtrak-seeking-to-break-even-sees-some-light-at-the-end-of-the-tunnel-11573223401
 
Free video starring Steve but Rupert wants payment to read Ted's text.

You can save your money. Coscia claims "profitabiity" is right around the corner.

“The best five years of Amtrak’s history have been the last five,” said Anthony Coscia, the chairman of Amtrak’s board of directors, in an interview. “We’re within visibility of earning a profit for the first time in the company’s history.”

 

Paul Wilson
Arlington, VA

Dcmcrider Wrote:
-------------------------------------------------------
> You can save your money. Coscia claims
> "profitabiity" is right around the corner.
>
> “The best five years of Amtrak’s history have
> been the last five,” said Anthony Coscia, the
> chairman of Amtrak’s board of directors, in an
> interview. “We’re within visibility of earning
> a profit for the first time in the company’s
> history.”

As they get a $1.8 Billion subsidy.  

"Amtrak Chief Executive Richard Anderson has told Congress that the railroad will break even on the operation of its rail network—not counting the significant amounts it spends maintaining physical infrastructure such as trains, tracks and tunnels—by next summer."

Paul Wilson
Arlington, VA

"we're within visibility of seeing a profit"  =  "glidepath to self-sufficiency"

More nonsense. Figures don't lie, liers do !!!

   Ross Rowland 

Dcmcrider Wrote:
-------------------------------------------------------
> "Amtrak Chief Executive Richard Anderson has told
> Congress that the railroad will break even on
> the operation of its rail network—not counting
> the significant amounts it spends maintaining
> physical infrastructure such as trains, tracks and
> tunnels—by next summer."

So does this mean the LD trains do make money?

Someone has to say this is positive news!

No, but I feel that this will sound great to the uninitiated.  We all know the real situation but the public will swallow this and that will make Amtrak look good.  That is good for Amtrak and passenger trains in general.  Just let it go.  

See! See! That 2 million “saved” by gutting dining cars has saved Amtrak. Lawdy, lawdy propeller head is a genius. This is right out of the MBA playbook. Cook the books and tell the suckers what they wanna hear... next year they gut the LDs west of Chicago and start “making” real millions. This is Orwellian PSR newspeak “cutting revenue increases income- less income means increased profits.” SMH.

Posted from iPhone

Molino Wrote:
-------------------------------------------------------
> Dcmcrider Wrote:
> --------------------------------------------------
> -----
> > "Amtrak Chief Executive Richard Anderson has
> told
> > Congress that the railroad will break even on
> > the operation of its rail network—not
> counting
> > the significant amounts it spends maintaining
> > physical infrastructure such as trains, tracks
> and
> > tunnels—by next summer."
>
> So does this mean the LD trains do make money?



No Amtrak train has, does, or will "make money". As in covering all, operating, capital, and maintenance costs. Bogus accounting hides problems.

Amtrak is subsidized 30-50 times as much per passenger-mile as autos.

Now I'm really confused....profitable but subsidized? 

Molino Wrote:
-------------------------------------------------------
> Now I'm really confused....profitable but
> subsidized? 

For example, I believe Amtrak includes the cost of maintaining rolling stock in the capital expense category. It does not include capital costs when coming up with its "profit" figures.

FloridaTrainGuy Wrote:
-------------------------------------------------------
> No, but I feel that this will sound great to the
> uninitiated.  We all know the real situation but
> the public will swallow this and that will make
> Amtrak look good.  That is good for Amtrak and
> passenger trains in general.  Just let it go.  

I totally agree.  Should we write the reporter for the WSJ and ask him to write about the changes in the dining cars and private rail cars?   Who knows, maybe the WSJ readers will make the connection between airport and highway subsidies and and paying a chunk of Uncle Clem's steak dinner on a LD train....... something tells me that would backfire.   But hey that's me.  

We talk about the mere pittance the dining savings is at $2m and the huge loss of income from private cars $8m(?).  Like a broken record I sure would like to see actual costs other than providing coach travel.  (Yes, I support subsidies for coach travel).  
 

JohnM Wrote:
-------------------------------------------------------
> We talk about the mere pittance the dining savings
> is at $2m and the huge loss of income from private
> cars $8m(?).  Like a broken record I sure would
> like to see actual costs other than providing
> coach travel.  (Yes, I support subsidies for
> coach travel).  

I think the dining losses are probably greater (see my post above about equipment costs). However Amtrak upper management can't push that point without exposing its fraud about profitability.

ts1457 Wrote:
--------------------------------------------------
>
> I think the dining losses are probably greater
> (see my post above about equipment costs). However
> Amtrak upper management can't push that point
> without exposing its fraud about profitability.

"Fraud" is certainly accurate and the notion of profitability is abject foolishness.  Coscia and Anderson think taxpayers are suckers and willing to believe their garbage..  

-John

jcaestecker Wrote:

> "Fraud" is certainly accurate and the notion of
> profitability is abject foolishness.  Coscia and
> Anderson think taxpayers are suckers and willing
> to believe their garbage..  
>
> -John

Actually I think Anderson/Gardner/Coscia are dumb enough to believe their accounting fraud. Coscia is from the Port Authority. They are the Grand Masters at fraudulent accounting and have tagged PATH's tiny rail system with a $400 million annual operating deficit, which you get by throwing in things like office building depreciation. 

Depreciation etc. to get the bottom line and operating ratio is standard railroad accounting but Amtrak doesn't do that...

Victor A. Baird
http://www.erstwhilepublications.com

My understanding is Amtrak is a government entity, it doesn't pay corporate income taxes. Which means that depreciation, public share and debt offerings, etc don't have relevance to their financial results.

Posted from Android

Duna Wrote:
-------------------------------------------------------
> Molino Wrote:
> --------------------------------------------------
> -----
> > Dcmcrider Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > "Amtrak Chief Executive Richard Anderson has
> > told
> > > Congress that the railroad will break
> even on
> > > the operation of its rail network—not
> > counting
> > > the significant amounts it spends maintaining
> > > physical infrastructure such as trains,
> tracks
> > and
> > > tunnels—by next summer."
> >
> > So does this mean the LD trains do make money?
>
>
>
> No Amtrak train has, does, or will "make money".
> As in covering all, operating, capital, and
> maintenance costs. Bogus accounting hides
> problems.
>
> Amtrak is subsidized 30-50 times as much per
> passenger-mile as autos.
Interesting supposition. Do you have facts to back up your comment? I'm sure we would all like to see them. 
It is probably true that Amtrak subsidies per passenger mile are higher then most supporters would admit, but 40 to 50 times is quite a stretch.