I must confess that, with my fixation on the situation facing the Ontario Northland, the similarly precarious situation affecting the Algoma Central passenger operations has taken a back seat in my mind. Chris van der Heide is much more on the ball than I am when it comes to the situation on the ground in the Soo, so when he warns that RailMark might be heading for a fall, I take notice. If I understand the situation correctly, we appear to have a deadlock between government, CN, RailMark and creditors - an impasse which has now forced the cancellation of passenger service until at least Tuesday.
I must admit, I always thought that RailMark's claim that the passenger service would be self-sustaining within five years was ludicrous, but I had really hoped that this might work out.
So, what next? Sault Ste. Marie council meets to discuss the issue this week. Although they really don't want to take the passenger operation back, I reckon there is a good chance that CN may be asked/begged to do so.
In the mean time, take a look at Chris' piece on the issue:
>>>Tracks (Out) Ahead for RailMark? | Algoma Central in HO Scale<<<
Correction June 22, 2015: My original post suggested that the cancellation was related to the financial situation surrounding the train. However, as several comments have shown, the two are likely coincidental. Tonight's council meeting will hopefully shed some light on the subject.