Comment Re:50 years later... (Score 1) 236
I take it you have never driven from Orlando to Miami or vice versal.
Yes, I have (by way of Cocoa Beach). And I've gone about 3/4 of the way several times. I'm familiar with Florida roads and their constant state of construction....
The posted limit is a maximum of 70mph but you won't average that.
*shrugs* I usually got reasonably close on I-95. Maybe it's a time-of-year thing.
Either way, though, when you get to the other end, unless you live in Miami or you're going to rely on public transit, you'll still need to find a way to get a rental car, but you're no longer at an airport with car rental places, so you'll end up waiting for an Uber or Lyft or cab and going a mile or so to one of the car rental places, by which time you've almost certainly lost most or all of your time savings.
And even if it takes an entire hour longer by car and you're able to avoid extra delays that wipe out those savings, the cost is still exorbitant. Driving will cost you $20 in fuel for everyone in your party, versus $75 per person for the train. For a family of 3, that means the train costs 1100% as much as driving. That's a *huge* cost difference for such a small time savings.
Don't get me wrong, I'm impressed that 4,600 people are riding it every day (which likely means about 150 people per train), but that's probably not even close to being commercially viable. They've already had to massively scale back their ridership projections because people aren't taking it nearly as often as they expected, which is likely because the cost is way too high for the amount of time saved.
And in spite of those high prices, the company is still losing money — on the order of $250 million per year, which makes the shortfall somewhere in the neighborhood of a hundred dollars per ticket by my back-of-the-envelope math. And they are already $4B in debt.
I fully expect them to go bankrupt. I hope I'm wrong, but I definitely wouldn't buy their bonds.