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EDITORIAL: Train projects keep running into trouble

Las Vegas Review-Journal·Review-Journal·27 days ago
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The most successful American train company of the last century may have been in “Atlas Shrugged.” A recent audit of Brightline Trains Florida shows that the company is in serious financial trouble . Ernst &Young said it has “substantial doubt about the company’s ability to continue as a going concern.” In other words, it doesn’t have enough money to pay its bills. The company has $5.5 billion in debt. But Brightline “has stated that it does not currently have the liquid funds necessary to service its debt and meet such other obligations as they become due,” the audit found. The company is reportedly looking at options to avoid bankruptcy. While the operations of a Florida train company won’t affect many Las Vegas residents, that name should sound familiar. Brightline West is working to connect Las Vegas to Los Angeles via high-speed rail. Both Brightline companies are backed by the Fortress Investment Group. Brightline West says it wants to move forward with construction .…

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