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Re: Watco as middle man--how much.? ownership corrections
Author: Expert Frank
Date: 02-16-2007 - 10:36
Good corrections!
Also with Dayton line, UP sold line to Port of Columbia for $1 in 1996 - only way WSDOT could "forgive" track loan after line washed out in a couple places. Some warned then that bailing them out would not end well. Watco obviously took their generosity to the bank.
Previous contention that Watco has maintained tracks better than BNSF / UP in E. Wash is funny.
MOW slashed and track class dropped successively since sales. Now what was mostly 40/25 is mostly 10 with some 25. Many lines maintained with one guy - basically inspecting plus fixes one guy can do. Some section.
MOW Weston Branch: Line embargoed / out of service several years due "bridge fire". Damage consisted of scorched ties of tiny ditch bridge. After Smith coughed up some (Fed/OR) money to replace some 75# with 90# plus ties, line back in service with no repairs to "bridge".
What is most disappointing with all this state help is the lack of transparency of Watco's books. It isn't clear that they aren't making money, and they've resisted offers to sell out.
Service / traffic:
UP+BN had 15 crews per week around WW. Cars picked up moved to Pasco or Hinkle same day - now interchange is performed WEEKLY. Hard to imagine how the class ones tolerate those cycles, but for some strange reason Watco gets five free days...
Traffic dropped quickly after sales, which isn't necessarily Watco's fault but it did follow the drastic reduction in service frequency and car movement speed. And it did precede the loss of major shippers by several years - LP Mill Walla Walla, Seneca Cannery Dayton, WSU Coal plant, etc.
UP and BN had option to make these same reductions in expense, MOW, service but didn't. Hard to say they gave them a bum steer.
Perhaps Watco is a different outfit down south. I do know they had part of the TIBR pulled back and the A&O. EIRR is a slam dunk with lots of UP support.
Then again, I didn't make the list to know what I'm talking about. We'll just have to agree they are above reproach.
Also with Dayton line, UP sold line to Port of Columbia for $1 in 1996 - only way WSDOT could "forgive" track loan after line washed out in a couple places. Some warned then that bailing them out would not end well. Watco obviously took their generosity to the bank.
Previous contention that Watco has maintained tracks better than BNSF / UP in E. Wash is funny.
MOW slashed and track class dropped successively since sales. Now what was mostly 40/25 is mostly 10 with some 25. Many lines maintained with one guy - basically inspecting plus fixes one guy can do. Some section.
MOW Weston Branch: Line embargoed / out of service several years due "bridge fire". Damage consisted of scorched ties of tiny ditch bridge. After Smith coughed up some (Fed/OR) money to replace some 75# with 90# plus ties, line back in service with no repairs to "bridge".
What is most disappointing with all this state help is the lack of transparency of Watco's books. It isn't clear that they aren't making money, and they've resisted offers to sell out.
Service / traffic:
UP+BN had 15 crews per week around WW. Cars picked up moved to Pasco or Hinkle same day - now interchange is performed WEEKLY. Hard to imagine how the class ones tolerate those cycles, but for some strange reason Watco gets five free days...
Traffic dropped quickly after sales, which isn't necessarily Watco's fault but it did follow the drastic reduction in service frequency and car movement speed. And it did precede the loss of major shippers by several years - LP Mill Walla Walla, Seneca Cannery Dayton, WSU Coal plant, etc.
UP and BN had option to make these same reductions in expense, MOW, service but didn't. Hard to say they gave them a bum steer.
Perhaps Watco is a different outfit down south. I do know they had part of the TIBR pulled back and the A&O. EIRR is a slam dunk with lots of UP support.
Then again, I didn't make the list to know what I'm talking about. We'll just have to agree they are above reproach.
