Pacific Imperial Railroad Updates
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This page is about Updates about the Pacific Imperial Railroad.
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Updates
March 2015
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
