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[QUOTE]Originally posted by Gilbert B Norman: [QB] First chapter of my best-seller "How to lose friends and make enemies" is shouting "I told you so". So I refrain from that and offer this ominous report in the spirit of "they sure have tried": [URL=https://www.palmbeachpost.com/news/20190218/after-failed-ipo-brightlines-finances-troubled-experts-say]Palm Beach Post[/URL] Fair Use: [i][list] [*]Financial experts say it’s unclear how long Virgin Trains USA can continue to operate after putting the brakes on a stock offering that would have raised nearly $500 million in much-needed capital. With a cash flow of negative $6.8 million per month, the money-losing parent of the Brightline train service must look outside passenger revenue for a financial lifeline, said Ozgur Ince, a finance professor at the University of South Carolina. “Their cash position looks very precarious,” Ince said. “With only $273,000 in cash and cash equivalents, they really needed the $500 million or so cash infusion from the IPO.” Richard Rampell, a Palm Beach CPA and former board member of the RailAmerica freight line, also sees financial trouble down the track. “At this rate, they could last maybe a year,” Rampell said. “Then they’re going to be in big trouble unless they can get some more capital.”[/i] [/list] Best advice; "get on down" and "on the pronto" for a taste of what rail travel can be. [/QB][/QUOTE]
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