Based on conversations I've had with industry colleagues in the past few months, you're not wrong, and you're one of a few on here consistently right about Iowa Pacific in your posts.

It's easy for the buffs to like this guy when he runs glitzy excursions they won't pay anything to ride and instead will chase all day, but at the end the day, the reality is someone is left holding the bag to pay for it all, whether it was the people who leased him the equipment or the rail authority that owns the tracks it ran on. It's like a party of thankless people who leave you with a trashed house and say "Best party ever!" but mysteriously disappear at clean up time.