CN and Kansas City Southern (KCS) on June 23 cited four letters by rail labor filed with the Surface Transportation Board (STB) in support of their proposed voting trust. Three of those letters, from local general committees of the same union, contradict the international’s position.
CN’s offer to keep gateways open on commercially reasonable terms is not getting the attention that it is due. This offer is a key part of its proposal to combine with Kansas City Southern—a transaction that significantly enhances competition.
For several months, Railway Age has reported extensively on Amtrak’s efforts to begin running two daily round trips between New Orleans and Mobile, and the strong opposition to the plan voiced by CSX and Norfolk Southern (NS). The focus has been on the railroads. But there’s another vital interest at stake: that of the American people to be able to ride new services on “America’s Railroad.”
The Class I railroads have responded to the Surface Transportation Board’s strategic question: “Are You Prepared?” Shippers should look for certain signals.
Kansas City Southern has asked the Surface Transportation Board to reject Canadian Pacific’s petition for expedited declaratory relief, which KCS claims would assist CP in preparing a “hostile” control application.
CN and Kansas City Southern (KCS) have reported receiving an additional 100 letters in support of their proposed merger, bringing the total to more than 1,500.
Is this New Orleans-to-Mobile Amtrak commuter-like train proposal “a rather complex story,” like the meaning behind the lyrics of the 1974 Lynyrd Skynyrd hit, Sweet Home Alabama?
Sometimes in decision making, there isn’t much of a middle ground. Sometimes there is simply right and wrong. Such is the nature of the decision facing the Surface Transportation Board (STB) in the coming months as it addresses proposed railroad mergers. Their decision will have a very big impact on what the railroad industry will look like in the coming decades.
Per the Surface Transportation Board’s (STB) request, proposed merger partners CN and Kansas City Southern (KCS) have filed financial documents that will help STB decide whether or not to approve their voting trust agreement. Canadian Pacific, not surprisingly, responded with heavy artillery fire, with support from rail labor.
It’s déjà vu all over again, and I’ve observed a lot by watching. Yes, ladies and gentlemen (present company included, I hope?), it’s time once again when we’ve come to that diverging approach on the railroad regulatory right-of-way called “revenue adequacy,” as defined by the Surface Transportation Board. Let’s take that turnout, even though no one, except perhaps railroad and shipper attorneys, goes there anymore, because it’s too crowded. So wye does it matter?