Re: Moving the cheese

Rod,
You said, "...for just a moment lets think like an "owner" of a tourist RR." The C&TS is jointly owned by two states. One reason given for the creation and continuing existence of the RR was and is to serve as an economic force for two counties sorely in need of help. The vast majority of CO and NM citizens, not being railfans, might ask why a government entity would be in direct competition with the same businessmen and citizens it purports to be trying to help.
Having the Friends in the picture changes little. I think only lawyers and the more involved railfans would understand the distinctions between the Commission, the Friends, and the Operator. It's all the Railroad, and in politics, perception IS reality.Your post is well reasoned, but only for a privately owned RR.