Railway Age on Dec. 9 announced that its 2022 Railroader of the Year Award goes to two exemplary and visionary North American rail industry leaders: Canadian Pacific President and Chief Executive Officer Keith Creel, and Kansas City Southern President and Chief Executive Officer Patrick J. Ottensmeyer.
Canadian Pacific (CP) shareholders “overwhelmingly support” the proposed CP-Kansas City Southern (KCS) merger agreement, CP reported on Dec. 8, following a virtual shareholder meeting; the merger would create Canadian Pacific Kansas City (CPKC), the first U.S.-Mexico-Canada rail network.
FINANCIAL EDGE, DECEMBER 2021 ISSUE: Now that the drama around the CP-KCS merger has finally subsided, the rail market has to occupy itself with other more mundane issues, such as the forward trajectory of coal loadings. Representing 12% of railcar loadings (even in its diminished state), coal remains a critical industry issue.
Kansas City Southern (KCS) on Dec. 2 reported setting record daily average grain carloads in November 2021, exceeding the previous record set in October 2021.
Kansas City Southern’s (KCS) Holiday Express program has raised nearly $120,000 this year to benefit The Salvation Army in 21 communities across its U.S. rail network, and the Class I railroad has issued a challenge grant to raise even more.
Canadian Pacific (CP) and Kansas City Southern (KCS) have received the required Mexican regulatory pre-transaction control approvals for their proposed combination, Canadian Pacific Kansas City.
The Surface Transportation Board (STB) has accepted for consideration the Canadian Pacific (CP)-Kansas City Southern (KCS) merger application submitted on Oct. 29.
Cowen & Company hosted the Kansas City Southern (KCS) executive team in New York City last week for investor meetings. While challenges across
Mexico continue to hinder railroad operations, discussions with regulatory authorities appear to be moving in the right direction.
In model railroading, there’s an annoying practice known as “rivet counting.” It involves people who have nothing better to do than finding fault with what someone else has created closely examining a painstakingly reproduced miniature (pick your scale—G, O, S, HO, N, Z—doesn’t matter) of a particular locomotive or car and finding some minuscule flaw, because the finished model doesn’t reproduce the actual equipment with 200% accuracy.
In two separate offerings, one in Canada, one in the United States, Canadian Pacific (CP) is issuing several billion dollars in debt to “indirectly fund, in part, the cash consideration required for the acquisition of common and preferred stock of Kansas City Southern (KCS) in connection with the CP-KCS transaction to create Canadian Pacific Kansas City (CPKC), North America’s first transnational Class I railroad.