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I just read on the Trains News Wire that short line Iowa Pacific (IP) reported a record revenue year for 2014. What surprised me was that they said their passenger revenue was $17,000,000. This was reportedly an increase of 46%. I realize that in the big picture 17m isn't that much, but I had no idea that IP had that much passenger business. I would be interested in any comments. Thanks.
MargaretSPfan Member # 3632
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That sounds wonderful for IP, but: I wonder what their actual net profit was for last year, after deducting all expenses.
I had previously read that Iowa Pacific had big financial problems, and that an outside company was interested in buying an 80% stake in IP -- but that sale fell through.
What I am interested in is "the rest of the story". How is IP doing overall?
Gilbert B Norman Member # 1541
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Margaret, Iowa Pacific is privately held, and any debt instrument appears to be beyond the jurisdiction of the SEC. In short, "they don't gotta tell nobody nuttin".
This is the only record of a filing with the SEC that IPH has made. Looks real professional, eh!
Vincent206 Member # 15447
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I looked at the Iowa Pacific Holdings website and they seem to own a number of tourist railroads that offer scenic tours and dinner or brunch trains. In addition to Pullman Rail Journeys, the Mount Hood Railroad and the Cape Cod Central Railroad are tourist lines owned or operated by IP.
notelvis Member # 3071
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And the Rio Grande Scenic Railroad in Alamosa, CO.
palmland Member # 4344
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And let's not forget the Texas State Railway. Looks like they're using some of IP classic cars for a diner. Haven't ridden this one but it's on the list.
"In August of 2012 American Heritage Railways sold the Texas State Railroad to Iowa Pacific Holdings. In addition to continuing passenger operations, Iowa Pacific Holdings opened the track to the main line in Palestine on November 1, 2012 to begin offering freight services." (wikipedia)
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