Tuesday, March 19, 2013

I talked about this in November of last year.  The guy needs more money.  I hope he gets it.

Barron says BNSF and Amtrak have agreed to allow access to their leg of the route into Fullerton. A reservations service also has been signed, and a vendor to provide onboard chefs and meals has been hired.

But there is the issue of money. A year ago, the company officials said in an SEC filing they needed $35 million in capital to get started. After the company announced the Union Pacific track deal in November that figure rose to $80 million to $90 million. In a quarterly earnings report released last week for the period ending Dec. 31, the company says it now needs to raise $150 million.

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