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COMPANY PROFILE
Pioneer Railcorp (originally Pioneer Railroad Company, Inc.) was incorporated in January 1986 to become a publicly held company formed for the purpose of entering the railroad business.
Prior to and after the incorporation, the Company had determined that its business plan could best be implemented if it first incorporated and raised an amount of capital sufficient to acquire and start up one railroad, rather than attempting to negotiate an acquisition while lacking funds or financing.
During the early years, the Company devoted its Resources
to refining its business plan, extensive investigation of potential acquisitions and
raising capital through a self-underwritten public stock offering. Pioneer placed its
common stock with more than 1,800 investors in 41 states. In 1988, the Company completed a
second self-underwritten public stock offering raising additional investment capital.
Management
Pioneer Railcorp, an Iowa corporation, is a railroad holding
company that operates in two business segments – Railroad Operations and Railroad
Equipment Leasing.
Railroad transportation is provided by the Company’s
wholly-owned short line railroad subsidiaries whose rail system provides shipping
links for customers along its routes and interchanges with six major railroads, Burlington
Northern Santa Fe (BNSF), Canadian National Railroad (CN), CSX Transportation (CSXT),
Kansas City Southern Railway (KCS), Norfolk Southern Railway (NS) and Union Pacific
Railroad (UP). Additionally, the Company's railroad subsidiaries have interchanges
with five other smaller rail carriers, the Arkansas & Missouri Railroad (AM), Iowa
Interstate Railroad (IAIS), Illinois & Midland Railroad (IMRR), Toledo, Peoria
& Western Railway (TPW), and Tazewell & Peoria Railroad (TZPR). Pioneer Railcorp's rail system is primarily devoted to
carrying freight.
Pioneer Railroad Equipment Co., Ltd. (PREL), formed on April 1, 1990, Railroad equipment leasing is conducted through the Company's wholly-owned subsidiary Pioneer Railroad Equipment Co., LTD (PREL). PREL leases equipment to the Company's subsidiary railroads and also leases railcars and locomotives to unaffiliated third parties. PREL also earns income from non-company railroads on its fleet of approximately 1,000 railcars (as of December 31, 2007) when they carry freight on non-company railroads.
Pioneer Railroad Services, Inc. was formed in
1993 to provide agency, accounting services and real estate management to Pioneer's
present and future railroad subsidiaries. Additionally,Pioneer Railroad Services, Inc. can
also provide technical services to non-affiliated companies.
Pioneer Railcorp is also engaged in other corporate
business activities in the areas of real estate and publishing.
The Company is organized in eight primary departments. This organizational structure is designed to provide the most efficient and effective management of Pioneer Railcorp's business activities.
Pioneer Railcorp’s management and the key individuals involved follow:
J. Michael Carr,
President and CEO
Marketing
Catherine Busch, Director of
Marketing
The Company's marketing
department was established to foster continuing business with existing customers and to
develop and attract new customers and
additional loadings on all PRC railroads.
The Company’s attention to marketing
has earned recognition from industry publications, Class I railroads, and smaller rail
carriers. The Company’s marketing department along with the Company’s operation’s center have become important value-added services offered to present and potential customers.
Railroad Operations
Tom S. Black, Vice President of Safety and Compliance
Shane
D. Cullen, Superintendent of Transportation
Operations Center
Robert Athen, Operations Center Manager
Pioneer Railroad Equipment Co., LTD (PREL)
Joseph Evans, Director of Mechanical Services and Equipment Leasing
Dennis
Johnson, AAR Billing Manager
Real Estate
Frank C. May, Right of Way Agent
Revenue Accounting
Kenneth Pilgrim, Revenue Accounting Manager
Financial Accounting
Scott Isonhart, Controller
Contact for all general financial accounting issues for Pioneer Railcorp and each of its subsidiary operations. He also serves as Corporate Secretary for Pioneer Railcorp and each of its subsidiaries.
Leora Day, Staff Accountant
Financial Accounting Contact for ALAB, AF, DT, GET, KJRY, PREX, & PRY.
Joyce Hilyard, Staff Accountant
Financial Accounting Contact for EWR, FSR, GCW, ISW, KTR, MSO, MSCI, STR, VRRC, & WMI.
Acquisitions, Corporate Development, Public
Relations, Railroad Operations and all General Communications
J. Michael Carr, President and CEO
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