Glenn,
At the time being, the active rail revival in the Owens Valley amounts to the extension of track towards Bishop from Laws. This is dependent on the execution of an environmental study, in which I understand the County supervisors will be making strides shortly in executing a contract. Following the study are any mitigations, right of way preparation, and bridge construction over the Owens River. Land for the most part is owned by the City of Los Angeles on this part of the project. Bridge and rail are on hand for part of the way. Ties and hardware need to be secured. Further right of way issues need to be ironed out about getting around the airport, and more rails ties and hardware need to be procured. A building is on hand for a station in Bishop.
I have taken on certain responsibilities for certain rail and tie procurements. Wish me luck in finding donors, or cheap prices. Once operations begin out of Laws, and then later Laws-Bishop, a tourist railroad will exist in the valley. It is not clear who will operate the railroad, but grants are on hand to build it. If it is wildly successful, there are plenty of miles that can be built to the south.
By the way, does anyone know where the Little Giant is currently residing?