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Commentary

NS and CSX: We See More Than Smoke

We upgrade shares of Norfolk Southern and CSX to Buy as the likelihood of rail consolidation moves up considerably. A Union Pacific bid for NSC likely results in a BNSF bid for

(New Jersey Transit Photograph)

NJT Sets FY26 Ops Budget, Authorizes Capex Funding

The New Jersey Transit (NJT) Board of Directors on July 17 adopted the agency’s Fiscal Year (FY) 2026 operating budget of approximately $3.16 billion, plus the local program budget of nearly $80.5 million; it also authorized capital funding of approximately $1.7 billion for FY26.

Commentary

Coast-to-Coast Rail M&A Implications

Class I merger talk comes back to center stage as the Wall Street Journal reports Union Pacific is in early discussions with Norfolk Southern. We hosted a call with Littlejohn & Co.

(MARTA Photograph)

MARTA’s Collie Greenwood Announces Early Retirement

Collie Greenwood has announced his early retirement from Metropolitan Atlanta Rapid Transit Authority (MARTA), where he spent the past six years, most recently as General Manager/CEO. MARTA Chief Customer Experience Officer Rhonda Allen is now serving in that role in an acting capacity.

Report: UP/NS Merger Afoot?

Union Pacific (UP) is in early-stage discussions to acquire Norfolk Southern (NS), “according to people familiar with the matter,” The Wall Street Journal reported July 17. “[T]here are no guarantees they will

(CNW Group/Unifor)

VIA Rail, Unifor Ratify Agreements

VIA Rail Canada (VIA Rail) on July 17 reported the ratification of new three-year collective agreements with Unifor’s Council 4000 and Local 100. Deal negotiations officially opened last October. According to the

MBTA on July 16 celebrated the newly renovated Winchester Center Station on the Lowell Commuter Rail line. Now fully accessible, station had not seen major repairs since the 1950s. (Photograph Courtesy of MBTA)

Transit Briefs: MBTA, ARTM, LACMTA

Massachusetts Bay Transportation Authority (MBTA) celebrates completing the Winchester Center Commuter Rail Station accessibility project. Also, Autorité régionale de transport métropolitain (ARTM) in Montreal is deploying a new fare collection system; and Transit Ambassadors at Los Angeles County Metropolitan Transportation Authority (LACMTA) ratify their first union contract.

Class I Briefs: CPKC, CN, BNSF

Canadian Pacific Kansas City’s (CPKC) San Luis Potosí team wins the Class I’s 2025 Terminal of the Year award. Also, CN’s Campbellton, New Brunswick, team reaches more than 5,000 injury-free days; and BNSF reports a record month for dwell at Southern California ports.

“We’re bringing 12 business leaders, industry experts, and innovators together with decades of experience in the field who will provide invaluable insights to deliver results for the American people,” U.S. Transportation Secretary Sean P. Duffy said of the USDOT Advisory Board, which held its first meeting July 16. (Screen Grab from USDOT Video of First Board Meeting)

For USDOT, An Advisory Board

The U.S. Department of Transportation (USDOT) has appointed 12 members to a new Advisory Board that will develop “strategic recommendations for infrastructure modernization and expansion”; identify “key investment opportunities in transportation technology

USDOT: Nearly $500MM in BUILD Grants for 30 Infrastructure Projects

U.S. Transportation Secretary Sean P. Duffy on July 15 announced $488 million in awards from the Better Utilizing Investments to Leverage Development (BUILD) grant program for 30 projects across the country, including nearly $3 million to support rail networks in enhancing multimodal surface transportation.

“A picture is worth a thousand words when it comes to documenting hazards, and the [Enablon] app allows just that,” says Carolyn David, Senior Manager, Safety Systems at CN. “It’s making a positive impact for our teams, who are empowered to look out for each other by reporting near misses or potential hazards. It means we can take any prompt corrective actions to keep employees safer.” (CN Photograph)

Class I Briefs: CSX, CN

CSX introduces a Mobile Collision Safety system and supports the Florida National Guard’s largest rail operation in 17 years. Also, CN’s investment in the Enablon Go reporting system pays off.