Pacific Imperial Railroad Updates
From Bwtm
| Revision as of 15:01, 8 July 2015 Beachblogger (Talk | contribs) April 2015 ← Previous diff |
Revision as of 15:24, 9 July 2015 Beachblogger (Talk | contribs) July 2015 Next diff → |
||
| Line 4: | Line 4: | ||
| ===July 2015=== | ===July 2015=== | ||
| + | |||
| + | July 8, 2015 MTS proposes to ease rail deadlines. Border railway was supposed to be running test trains by Oct. 1. MTS is now proposing a new schedule. It would divide repair work into two sections of the track with separate deadlines for each. The first would focus on the eastern 9.5 miles of track and be completed by March 1, 2016, with a test train running by April 2016. The second is the remaining 60 miles that would be completed by April 2017, with a test train set to run in May 2017. The new time frame will not push back the deadline of getting full-scale repairs done and operations underway by January 2018, according to a MTS staff report outlining the new deadlines. http://www.sandiegouniontribune.com/news/2015/jul/08/pir-delays/ | ||
| July 7, 2015 Border railroad makes its MTS payment. Partners also announce agreement for talks with Mexican company http://www.sandiegouniontribune.com/news/2015/jul/07/pir/ | July 7, 2015 Border railroad makes its MTS payment. Partners also announce agreement for talks with Mexican company http://www.sandiegouniontribune.com/news/2015/jul/07/pir/ | ||
Revision as of 15:24, 9 July 2015
This page is about Updates about the Pacific Imperial Railroad.
Contents |
Updates
July 2015
July 8, 2015 MTS proposes to ease rail deadlines. Border railway was supposed to be running test trains by Oct. 1. MTS is now proposing a new schedule. It would divide repair work into two sections of the track with separate deadlines for each. The first would focus on the eastern 9.5 miles of track and be completed by March 1, 2016, with a test train running by April 2016. The second is the remaining 60 miles that would be completed by April 2017, with a test train set to run in May 2017. The new time frame will not push back the deadline of getting full-scale repairs done and operations underway by January 2018, according to a MTS staff report outlining the new deadlines. http://www.sandiegouniontribune.com/news/2015/jul/08/pir-delays/
July 7, 2015 Border railroad makes its MTS payment. Partners also announce agreement for talks with Mexican company http://www.sandiegouniontribune.com/news/2015/jul/07/pir/
April 2015
Railroad exec to SEC: Too late to collect. By Greg Moran1:26 P.M.APRIL 21, 2015 The president of Pacific Imperial Railroad says it’s too late for the federal government to collect more than $70,000 stemming from a 1995 settlement regarding his role in what the Securities and Exchange Commission described as sham stock transactions. Donald Stoecklein, the president and public face of the rail company that was given a 99-year lease to revive and operate the Desert Line freight railroad along the U.S.-Mexico border, said in court papers that he should not have to pay because the legal time limit for seeking the money has passed. http://www.utsandiego.com/news/2015/apr/21/stoecklein-response-sec/
March 2015
March 19 Old debt arises for border rail boss. SEC asks Stoecklein to pay fraud settlement from 1995, with interest. http://www.utsandiego.com/news/2015/mar/19/stoecklein-pir-mts-sec-fraud/
March 12 San Diego Metropolitan Transit System's Board of Directors meeting final package http://www.sdmts.com/MTS/documents/2015-03-12.pdf
March 11, Donald Stoecklein, president and former lead counsel for the troubled binational railroad known as the Desert Line, has run into trouble in the form of the Securities and Exchange Commission. On March 11, the Securities and Exchange Commission filed a complaint against Stoecklein for failing to pay a 1997 settlement agreement over "ill-gotten gains" he received in the sale of stock in a Nevada-based company known as SoftPoint Inc. The complaint is the latest development in the saga involving the Desert Line. http://www.sandiegoreader.com/news/2015/mar/11/ticker-donald-stoecklein-trouble-sec/
February 2015
Feb. 26, 2015 Sabotage on the railway? Derailment of abandoned train cars "is a major public safety issue" By Dorian Hargrove, http://www.sandiegoreader.com/news/2015/feb/26/ticker-desert-line-derailment-carrizo-gorge/
FEB. 21, 2015 Rail investor faces fraud allegations. Member of new ownership group for border line says SEC charges are wrong. By Greg Moran 7:09 A.M. http://www.utsandiego.com/news/2015/feb/21/pacific-imperial-new-investors-kinsell-victorville/
Feb. 18, 2015 Desert Line grit. New management of railroad includes old faces in San Diego County. By Dorian Hargrove, http://www.sandiegoreader.com/news/2015/feb/18/ticker-new-management-desert-line/#
Rail partners face federal inquiry. Agents are asking about circumstances behind MTS border line lease. http://www.utsandiego.com/news/2015/feb/07/rail-partners-face-federal-inquiry/
Feb 04, 2015 Desert Line remains shrouded in secrecy. Council member David Alvarez calls for transparency on railroad restoration. By Joshua Emerson Smith. Alvarez asked for an update on a feasibility study of the Desert Line, as well as a financial audit of Pacific Imperial Railroad (PIR), the contracted company. MTS officials have yet to respond. However, answers to Alvarez’s questions likely exist. In order to begin freight operations, according to MTS records. Sections of the 100-year-old tracks would also need to be upgraded. Since entering into a 99-year contract with MTS in 2012, PIR submitted a business plan, which both entities have refused to make public. In 2007, MTS did a study of the rail line, which it also declined to release. But, in a legal declaration from 2012, MTS general counsel Karen Landers said the study found “costs to bring the Desert Line into a state of good repair were informally estimated at more than $100 million.” http://www.sdcitybeat.com/sandiego/article-13870-desert-line-remains-shrouded-in-secrecy.html
January 2015
January 27, 2015 San Diego & Arizona Eastern Railway Company (SD&AE) Board of Directors Meeting http://www.sdmts.com/MTS/documents/2015-1-27SDAEFINALPKG.pdf
ref
MTS Meeting Schedules and Minutes: http://www.sdmts.com/MTS/MTS_board.asp
