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Old 08-17-2017, 03:53 PM   #7
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Originally Posted by miningcamper1 View Post
Things I wonder about G&W:

Failed acquisitions (targets not interested in selling)?
I forgot to include this one last night-- the biggest standout in this respect is the Copper Basin. When G&W bought RailManagement (the holding company which brought some notables into the fold, such as The Bay Line and Georgia Central), Copper Basin was held by that company.

A few years after the deal was done, I had the opportunity to speak with someone very knowledgeable on all things Copper Basin. When I inquired about how that property didn't wind up in the G&W fold, the answer was "Simple-- they couldn't afford it with the Copper Basin in the deal." And that is how the railroad stayed independent, and was subsequently bought by ASARCO, the company which owns the copper mine the railroad serves. I am pretty certain the RailManagement principals retained ownership of the Copper Basin until ASARCO bought it, but not 100% certain.
Mike Derrick

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