By Eric Anderson, Albany Times-Union; October 6, 2017
Rail Events, the Durango, Colo.-based licensor of Polar Express holiday trains, said Thursday it had been unable to reach a settlement with Iowa Pacific Holdings over millions of dollars in royalty payments it says it is owed, and that Polar Express trains won’t operate this winter in Saratoga Springs and other locations where Iowa Pacific was the licensee.
The decision is likely a blow for Iowa Pacific, which has struggled financially. A plan to store surplus oil tanker cars on its tracks in the Adirondacks has also drawn strong opposition from environmentalists and local officials. The railroad said it needed the revenue the storage business would provide.
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