Railroad Sources Say PanAm RailWays is For Sale
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- Created: 01 July 2020 01 July 2020
PanAm, on whose tracks the Downeaster runs from Brunswick to the NH/MA line, is up for sale according to several authoritative rail sources. Pan Am has extensive rail holdings in four of the six New England states.
This from the Trains Magazine:
BILLERICA, Mass. — New England regional Pan Am Railways is for sale.
The privately held company, owned by 78-year-old Tim Mellon and other investors, has enlisted BMO Financial Group to assist with a potential sale transaction, according to multiple railroad industry sources.
Pan Am officials did not respond to a request for comment.
Industry observers say there will be considerable competition to buy Pan Am, which operates on 1,700 route miles and is the largest regional railroad in North America.
“I would expect that everyone is going to be interested in it,” says independent railroad analyst Anthony B. Hatch.
Happy Birthday, NNEPRA - Born in 1995!
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- Created: 27 June 2020 27 June 2020
On June 27th, 1995, the Maine Senate cleared away the last legislative hurdle standing in the way of resumption of passenger rail service to Maine. LD 1255, An Act to create the Northern New England Rail Authority, passed by the necessary two-thirds majority, the Maine House having approved it the week before. Governor Angus King signed the bill on June 29th.
From Wayne Davis: "It occurs to me that this act and the last one are important dates not just for Maine - but also for New Hampshire and Massachusetts. Of course, the text goes on to say that without TNE's dogged determination there is little doubt that the bill would have failed - and goes on to thank oodles of folks - Senators Cohen and Snowe, Representative John Baldacci and more."
TrainRiders/NE participated in the writing of the legislation that created NNEPRA - our baby in 1995!
Read all about it in our 1995 newsletter! Click on the old banner below.
Amtrak to Cut Many Long Distance Trains
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- Created: 19 June 2020 19 June 2020
Amtrak Executive Vice President and Chief Marketing and Revenue Officer Roger Harris, in a June 15 letter to employees, announced that Amtrak nationally will cut many long-distance trains as a result of a significant loss in ridership due to the coronavirus. He notes that some services have seen a 95% drop in passengers.
But Railway Age asks if some of the services will be permanently eliminated and the national system destroyed. Amtrak to Cut Many Long Distance Trains