I believe the line is officially "embargoed" which CORP intends to lift once the tunnel repairs are made. The longer the line remains embargoed the more into disrepair the rest of the line gets; ties continue to decay, signals may be vandalized for the metal; bridges become clogged with debris and on and on.

Once CORP files for abandonment (assuming the embargo produces no repairs or hope for continued operation, then the provisions of 49CFR 10901-10905 come into play. In this scenario, a shipper can make an "offer of financial assistance" which is the NLV (net liquidation value of the assets (rail, ties, etc. less the cost of removal) as determined by the Surface Transportation Board. In order to abandon the line, CORP must be ableto certify that no traffic has moved over the line for two years. The successful purchaser must agree to operate the line as a common carrier for a minimum of two years before going through the second abandonment process. Arriving at the NLV can take several years which could further endanger any chance of reviving the operation. This NLV calculation fiasco is what kept the McCloud in limbo for so long as new players kept interfering with Jeff's right to determine the fate of his assets.

With the current scrap market so hot, I would seriously doubt that a shipper could make the case for purchase and continued operation without a huge annual subsidy. The only way it could happen is if the state bought the line and hired someone to run it...they have made such bad decisions regularly in the past!!!