Fortress Investment Group
All Aboard Florida
Here is an email we sent, separately, on April 30 to Mr. Gordon Runte, Managing Partner and head of public investor relations and corporate communications for the Fortress Investments Group and Ms. Lynn Martinson, Vice President of Corporate Communications for All Aboard Florida:
This in follow-up to my call this afternoon.
By way of introduction, I publish a “private” weekly e-journal focusing on issues such as our water supply, Indian River pollution, California water shortages, healthcare, etc.
There is no spin…just facts to help people understand complex issues and come to their own conclusions.
My wife and I live in Vero Beach.
There is some concern here that if All Aboard Florida is not successful with its Florida Private Activity Bonds (PAB), or its RIFF loans, how it will finance itself?
We read recently on Bloomberg that the bonds AAF sold last year have decreased in value by 7% and the interest rate is now 14%. How can AAF pay the annual interest payments without PAB or RIFF loans?
Surely, as you know, there are lawsuits agains the Under Secretary of the Treasury about the PABs.
Do you suppose Fortress itself may have to fund the project – or does Florida East Coast Railway have the profitability to do so?
It would be very helpful to our readers to have your insight on the financial issues of this important project.
I hope to hear from you.
Phyliss Frey, an activist for “Not All Aboard Florida” responded to my email saying:
Thank you for your straightforward query to Fortress. I am extremely interested to know if you receive a prompt, straightforward reply and what might be the nature of that reply.