Sprint suing All Aboard Florida

[danlodish345]

http://www.sun-sentinel.com/news/transportation/fl-reg-sprint-sues-brightline-20170720-story.html this is an interesting story.

 

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[BlueAngel]

Sounds like a shady company.

[bretton88]

Sounds like a shady company.

Shady? Hardly. They're in the middle of a billion+ $ railway expansion. The issue is over how much Sprint think their share of the relocation costs are.

 

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[jjschind]

"$646,266.40"

 

That $0.40 tho...

[centermedic]

Shady? Hardly. They're in the middle of a billion+ $ railway expansion. The issue is over how much Sprint think their share of the relocation costs are.

 

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Share of the relocation costs? That would be 100%. The big issue is if the amount was agreed upon prior to work being done. If not then Sprint will have to prove that the amount that they are suing for is justifiable.

[danlodish345]

Share of the relocation costs? That would be 100%. The big issue is if the amount was agreed upon prior to work being done. If not then Sprint will have to prove that the amount that they are suing for is justifiable.

couldnt that cost sprint more then what the cost of relocation of their network infrastructure?

[bretton88]

Share of the relocation costs? That would be 100%. The big issue is if the amount was agreed upon prior to work being done. If not then Sprint will have to prove that the amount that they are suing for is justifiable.

Because Sprint is not the owner of the ROW, just a leaser from AAF, AAF doesn't need to pay Sprint 100%, though a good landlord should at least provide some financial help for moving the utilities in question.

 

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[danlodish345]

Because Sprint is not the owner of the ROW, just a leaser from AAF, AAF doesn't need to pay Sprint 100%, though a good landlord should at least provide some financial help for moving the utilities in question.

 

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So doesn't that mean the whole lawsuit is pointless?

 

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[jamesinclair]

Sounds like a shady company.

 

Um...let's follow the money.

 

Brightline is a higher-speed rail system under construction in Florida. It is being developed by All Aboard Florida, a wholly owned subsidiary of Florida East Coast Industries (FECI

 

Florida East Coast Industries (FECI) is Florida’s oldest and largest commercial real estate, transportation, and infrastructure holding company.

 

FECI was purchased in 2007 by equity funds managed by Fortress Investment Group, LLC.

 

 

The private equity parent of Coral Gables-based Florida East Coast Industries is getting a new owner, which means that the Brightline Miami-to-Orlando passenger train project is as well.

 

New York-based hedge fund Fortress Investment Group (NYSE: FIG) announced earlier this week that it has entered into an agreement to be acquired by Tokyo, Japan-based SoftBank Group Corp.

 

 

https://www.bizjournals.com/southflorida/news/2017/02/16/parent-of-brightline-train-project-to-be-acquired.html

 

 

Hm, Softbank, where do I know them from...

[bretton88]

So doesn't that mean the whole lawsuit is pointless?

 

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There's probably a contract covering what costs each party is responsible for. The issue is probably on cost overruns, which might not be dealt with the contract. There are a number of contingencies that Sprint might feel like AAF is responsible for. So to court it goes.

 

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[RAvirani]

Um...let's follow the money.

 

Brightline is a higher-speed rail system under construction in Florida. It is being developed by All Aboard Florida, a wholly owned subsidiary of Florida East Coast Industries (FECI

 

Florida East Coast Industries (FECI) is Florida’s oldest and largest commercial real estate, transportation, and infrastructure holding company.

 

FECI was purchased in 2007 by equity funds managed by Fortress Investment Group, LLC.

 

 

https://www.bizjournals.com/southflorida/news/2017/02/16/parent-of-brightline-train-project-to-be-acquired.html

 

 

Hm, Softbank, where do I know them from...

That’s the funniest thing - oh my.

[danlodish345]

That’s the funniest thing - oh my.

what do you mean by funny?

[Hmight]

what do you mean by funny?

Softbank bought forttress.

[danlodish345]

Softbank bought forttress.

The company that Sprint is sueing?

 

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