FRA to DM&E: No Way!
The DM&E's Loan Request was denied by the FRA! There are some absolutely stunning quotes in this article from Business Week.
I know that the DM&E does have several contingiency plans to overcome this setback. I also believe that the FRA Denial will merely hold up, rather than defeat, the DM&E's expansion project into the Powder River Basin. Ultimately, a project that will improve the quality of life for many, on and off the DM&E's line, will prevail over the short-sighted objections of Minnesota's Governor, the Mayo Clinic, the current Administration, and yes, even the nasty politicizing by Tom Daschle.
It won't be long that the DM&E, through private enterprise, will triumph over these transparent political motives. Yes, it will cost the railroad, but it will also cost the government some interest income as well. The DM&E's Loan, not gift as some would have you believe, would have been similar to that given to Chrysler some years ago, which proved to be a great deal for all.
If the politicians do prevail, then it will be just one more indication that here in the United States we have the best government that money can buy.