Glenn, your comments about the need to look at the total financial picture are well taken. That's one of the reasons RGRPC has followed a policy of full disclosure of it's financial reports. I doubt this practice is followed by any other operator in our business, with the exception of the White Pass and Yukon which is a publicly traded company, whereas RGRPC is a privately-held non-profit corporation registered in compliance with the laws of the state of New Mexico.
For those with an interest, and a lot of time, please visit the Finance section of the C&TSRR web site (see the link below) to reach your own conclusions regarding RGRPC's financial position. Other sources for some of this information are the C&TSRR Commission's public files in Antonito and the NM Attorney General's office in Santa Fe.
Once the season is over and the results are in, RGRPC will be issuing an end-of-season financial report, just as was done last year, and, of course, after the end of the year RGRPC's audited financials for 2001 will be posted.