News item: Executive Order No. 13725, issued April 15 by President Obama, and published in the April 20 Federal Register, mandates that Executive Branch federal agencies take specific actions to promote competition.
For those sheltering railroads against assaults on regulatory freedoms, the 1980 Staggers Rail Act (Staggers) is considered sacrosanct.
The Surface Transportation Board, in seeking comments addressing Canadian Pacific’s petition for an expedited declaratory order, has received letters from the U.S. Department of Justice and the Department of Defense-United States Army, Military Surface Deployment and Distribution Command Transportation Engineering Agency, Railroads for National Defense Program opposing CP’s proposed acquisition of Norfolk Southern, and/or CP CEO Hunter Harrison becoming a senior executive at NS.
Canadian Pacific on March 29, 2016 filed its definitive proxy statement for its Norfolk Southern Corp. (NS) shareholder resolution asking NS’ Board of Directors to engage in good faith discussions with CP regarding a business combination. CP also filed a letter that will be sent to all NS shareholders about the opportunity to create significant value for NS shareholders.
The Surface Transportation Board on March 23, 2016 announced that it is seeking public comment on its proposal to revoke existing class exemptions from railroad-transportation regulations for certain commodities. This decision comes as part of the Board’s ongoing examination of its current regulations in light of the many changes in the rail industry over recent decades. In the nearly quarter-century since the Board adopted these exemptions, this is the first decision the Board has issued proposing complete revocation of one or more commodity exemptions.
The Surface Transportation Board will hold what it’s calling “informal meetings with stakeholders” during April 2016 “to explore and discuss ideas to expedite rate reasonableness cases.”
On March 10, 2016, the Surface Transportation Board issued a decision, Docket No. FD 36004, “Canadian Pacific Railway Limited—Petition for Expedited Declaratory Order,” responding to CP’s March 2 petition, and setting a timeline for replies and CP’s rebuttal. Following is the full text:
Railroad rate complaints that come before the Surface Transportation Board for handling under SAC (Stand-Alone Cost) case handling will be subject to “expeditious handling”—a decision rendered in no more than 485 days—according to new final rules the STB announced on March 10, 2016.
Canadian Pacific on Tuesday, Feb. 16, 2016 announced it will seek a declaratory order from the U.S. Surface Transportation Board (STB) “confirming the viability of the voting trust structure that CP has suggested as part of its proposed merger with Norfolk Southern.”
In comments filed with the Surface Transportation Board’s Ex Parte 726, Notice of Proposed Rulemaking on On-Time Performance under Section 213 of the Passenger Rail Investment and Improvement Act of 2008 (PRIIA), Amtrak says that the only viable method of measuring passenger train on-time performance on a host freight railroad is one that includes intermediate stations as well as endpoints.