Mmm, not really...
I did put together a fictional history of the company when I first started this project. Briefly mentioned some of the problems the company experienced after 777's little escapade.
After the incident, AWVR faced massive lawsuits. Most were settled out of court. In order to survive, the company downsized its operations. This included selling its AC4400CW fleet, among other things. 777 went to CSX and 767 went to Canadian Pacific. 1206 was repaired and continues to work for AWVR.
As suggested by the film's epilogue, Frank Barnes retired in mid 2010. Oscar Galvin was forced to retire and was replaced by Connie Hooper as VP of operations. Connie's assistant, Bunny, is not the yard master at Fuller. Will Colson was promoted and is now the yard master at Brewster. Dewey, of coarse, was fired for letting 777 off the leash. Gilleece still works as a hostler at Fuller.
Under Connie's leadership, AWVR underwent corporate restructuring. The company's fleet is currently undergoing a 4-year rehabilitation program in which old engines will be rebuilt, sold off, or traded for new equipment.
In a bizarre twist, CSX 5131 (formerly AWVR 777) collided head-on with Canadian Pacific 9846 (767) just outside Chicago on Christmas Day, 2010. 777, which had been sided to let 767 roll by, failed to stop at the light and rejoined the main, right into the path of 767. Fortunately it was a low-speed collision. There were no major injuries and the locomotives were repairable.
However, after the incident in Pennsylvania and the one in Chicago, rumors began to spread that the engines were cursed. The rumors got so bad that the engine owners (CSX and CP) sold the engines to their builder, General Electric. GE rebuilt the engines and upgraded them to ES44AC specifications, though reported them as AC4400EVs to indicate that they were rebuilds. The two troublesome engines were sold back to AWVR and were given their former road numbers, much to the dismay of the public.
"The Beasts", as the two are known, are still up to no good...