Re: CORP And Track Leased From UP -- why no passenger service allowed? - THANKS!
Author: Dragoman
Date: 07-21-2011 - 10:02
Thanks Tony & Dick!
I would have just assumed that between the the insurance any prospective passenger (or speeder!) operator would carry, plus the shortline's insurance, plus the appropriate language in the lease (which I again assume must be there) contractually disavowing any liability on the part of the owner/lessor, that there was little risk to the owning road. Especially since so many shortlines are owned by fairly large operators (RailAmerica, Genesee & Wyoming), that there are pretty deep pockets right there.
But, as usual, no one asked me ...