"Economic Issues" Luncheon

Richard Beadles, Virginia Rail Policy Institute

"Virginia Rail Dreams vs. Reality: Freight and Passenger Rail in Virginia"

WHEN: Wednesday, January 25, 2012, 12:00 - 2:00 p.m.
WHERE: Federal Reserve Bank of Richmond, 701 East Byrd Street
COST: $15 members, $25 non-members, $10 full-time students

Relegated to last place among transportation options in the period 1956-1971 (*), when interstate highway development and commercial jet aviation was thought to be all the nation would ever need going forward, America's once-extensive rail system -- or what is now left of it -- has recently been resurrected as one of the frequently-discussed "solutions" to 21st century mobility and transport needs, for both freight and passengers.

Is rail for real? To what extent can rail relieve highway and aviation congestion and constrain the need for more highway lanes and airport infrastructure? Can rail freight intermodal (truck-rail-truck), or "IM", make anything more than a small dent in truck traffic on Virginia interstates? What about High-Speed Rail? Or just more and better passenger rail? Hasn't the "free market" already decided that commercial aviation and trucking are the answers? Is rail unique in requiring public subsidies? Is the conflict between freight and passenger trains irreconcilable? Why bother with private railroads when the freight rail companies seemingly don't want to be bothered?

These and other rail-related issues will be the subject of discussion at the RABE meeting on January 25, 2012, teed-up by a presentation to be made by Richard L. ("Dick") Beadles, president of the Virginia Rail Policy Institute ("VRPI"), an independent organization of Virginia business and professional people, dedicated to putting rail in perspective, with equal emphasis on its potential as well as on the hurdles that stand in the way of a more significant role for rail freight and passenger services in the Commonwealth. VRPI is a not-for-profit, non-partisan, organization, which is also independent of the rail industry. Its members donate their time and expertise.

Dick Beadles is an unabashed believer in the potential of rail, but his personal hopes and aspirations for rail in Virginia are tempered by first-hand knowledge acquired as an executive in the rail transportation industry, and by his years of experience in urban real estate asset management, development, and marketing, where highways and airports have traditionally represented the first transportation priority of a majority of Virginians.

A former president and CEO of the Richmond, Fredericksburg & Potomac Railroad, now a part of CSX Transportation, Beadles thereafter served as president and CEO of CSX Realty, the asset management and development arm of the parent corporation. He subsequently advised institutional owners of real estate while president of M.G.T. Realty Advisors, formerly a business unit of Richmond-based Morton G. Thalhimer, Inc.

Dick Beadles was a founding member of Virginians for High Speed Rail, as well as VRPI. He previously served on the State Rail Advisory Board. A business graduate of old RPI, one of the predecessors of Virginia Commonwealth University, he subsequently served on the Board of Visitors of VCU, and was a founding member of the VCU Real Estate Foundation. He was, at one time, a member of the real estate committee of the Virginia Supplemental Retirement System ("VRS"), and later a director of RF&P Corporation after its acquisition by VRS. He is, or has been, a member of numerous other professional, civic and community organizations in the Richmond area, his home for over 70 years.

(*) Interstate Highway System 1956; Amtrak 1971; Freight Rail Deregulation 1980-81.


Luncheon Details

Reservations: Reservations are required. Deadline is noon on January 23rd.We ask that everyone please register online at our website, www.RABEva.org. Simply go to the website and click the "Register" link. You may also e-mail your reservation to us at rabe@rabeva.org.

This event is open to members as well as guests and press.

Payment: Use your credit card at www.RABEva.org.. Members may pay in advance or at the door using on-line, check or cash.

Parking: Free parking is available on site. Turn Right onto 7th Street (from E. Byrd St.), just before reaching the FED building. The parking deck is directly across 7th street from the building.
  • Push the buzzer at the parking deck gate and say that you are attending the RABE event. A guard will raise the gate electronically.
  • RABE visitors must wind their way up and park on the TOP LEVEL of the deck.
  • To enter the building: Walk in front of the Federal Reserve and enter from the left-hand side of the building. You will pass through a security "intake building" on your way into the main facility.

** All visitors must pass through a metal detector prior to being admitted to the building.



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