The Surface Transportation Board on Sept. 30 issued a decision essentially reaffirming that the Canadian Pacific-Kansas City Southern voting trust, which it approved on May 6, 2021, still stands. STB’s decision was not unanimous, however, with Member Robert Primus voicing the lone dissent.
Judge pronounces common carrier obligation for “commuter rail” dead.
Surely you remember the Ash-Pan Act, named after Sen. Ash and Rep. Pan. In fact, it was a 1908 railroad safety law—its name identifying a steam locomotive appliance.
The Surface Transportation Board has added another entry to the “Railroad Industry Dictionary of Obscure Acronyms”: FMLM, which stands for First-Mile/Last-Mile—what Class II and III railroads do best.
The Surface Transportation Board (STB) is required by law, on a minimum quarterly basis, to publish the Rail Cost Adjustment Factor (RCAF), defined as “an index formulated to represent changes in railroad costs incurred by the nation’s largest railroads over a specified period of time.”
Well, this one’s on the STB. What to do in the face of the STB’s decision about the voting trust sought by CN in which CN would have gained control of the Kansas City Southern? That avenue has been foreclosed by the Board’s recent decision to reject the voting trust.
Associations representing private railcar owners are rebutting responses to their request that the Surface Transportation Board institute a rulemaking updating the demurrage and accessorial rules governing the railroads’ use and handling of their equipment.
Get used to the acronym “CPKC,” which stands for Canadian Pacific Kansas City, the name of the Class I railroad that will begin operations sometime within the next 18 to 24 months, provided the Surface Transportation Board approves—as many industry observers and analysts believe it will—the merger of the Canadian Pacific and the Kansas City Southern. The two railroads have circled back to pretty much the original merger agreement they announced on March 21, 2021, one month before CN began its attempt to wrest the deal away from CP with a higher bid.
News Item: The Surface Transportation Board (STB) has found that among seven Class I railroads, five—BNSF, CSX, Kansas City Southern, Canadian Pacific (CP)-owned Soo Line, and Union Pacific—were revenue adequate for 2020. Norfolk Southern and CN-owned Grand Trunk Western were within a fraction of a percentage point of making the cut.
RAILWAY AGE, FINANCIAL EDGE, SEPTEMBER 2021 ISSUE: For investors, industry watchers and rail consumers, August was either the most interesting or frustrating month to date in the reality dating show, “I Want to Buy a Class I Railroad.”