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4/15/2002



Rail News: Rail Industry Trends

GWI replaces Arthur Andersen as accountant


The Enron fallout continues for Arthur Andersen LLP, which recently lost a client in the railroad industry.
Genesee & Wyoming Inc. (GWI) April 5 dismissed the firm as its independent accountant, according to an April 11 Securities and Exchange Commission filing.
The short-line holding company recently hired PricewaterhouseCoopers LLP as its new accountant.
GWI stated it had no disagreements with Arthur Andersen in 2000 and 2001, nor through April 5.
The company in 2000 paid Arthur Andersen $441,400 for audit fees and $688,600 for all other fees, according to an April 2001 proxy filing.


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