NECR: Declining Traffic Prompts Reductions

NECR: Declining Traffic Prompts Reductions

01.April, St. Albans VT – This is no fooling, G&W’s New England Central Railroad (NECR) is scaling back operations and further reducing man hours beginning on 04.April.2021, following continuing declines in traffic levels. NECR has long been an arm for traffic to and from Montreal and New England and between CN and CSXT, however the […]

CSXT: Submits Revised PAR Acquisition Schedule

01.April, Washington DC – As requested by the Surface Transportation Board following its decision to upgrade the CSXT Acquisition of Pan Am Systems and related transactions from a Minor to a Significant Transaction, CSXT has refiled its suggested procedural schedule for review. On March 25, in the Decision filed under the Federal Register by the […]

STB: Chairman Oberman Outlines Pending Railroad Mergers

25.March, Washington DC – Surface Transportation Board Chairman Martin J. Oberman released a statement on the two major pending merger cases before the Board, CP’s acquisition of the KCS and the CSX’s Acquisition of Pan Am Railways. The Board received a Notice of Intent, proposing to place Canadian Pacific Railway Company and the Kansas City […]

CSX: “Significant” Delays Filing Until 25.April

CSX: “Significant” Delays Filing Until 25.April

24.March, Washington, DC – With the STB set to release the official Decision on Thursday, 25.March, a review of prior rail transactions that were upgraded from a Minor to a Significant Transaction by the Board have set a precedent that, if followed, would send the Applicants back to the drawing board to file the Acquisition […]

** UPDATE ** CSX: STB Rules PAR Acquisition Significant Transaction

** UPDATE ** CSX: STB Rules PAR Acquisition Significant Transaction

25.March – Washington DC – The Surface Transportation Board has reviewed the submission filed 25.February.2021 by CSX Corporation to merge/acquire Pan Am Railways, Inc. styled and the associated transaction designating G&W’s Berkshire & Eastern as the operator of PAS in an application for a Minor Transaction and the Board finds that the Proposed Transaction would […]

PAS: Alternative Operator Steps Forward

PAS: Alternative Operator Steps Forward

(MAPS TO COME – Ed.) 22.March, Washington DC – M4 Capital Group, which “[specializes] in the rail asset and infrastructure financing and investment” {LinkedIn}, has filed an “ALTERNATIVE PURCHASE AND OPERATION PLAN” to acquire the Conn River Line, and operate it as the Connecticut River Railroad. M4’s filing seizes upon the many expressed concerns about the potential […]

CP: CEO Creel Contract ExtendedThrough 2026

CP: CEO Creel Contract ExtendedThrough 2026

21.March, Calgary AB – Canadian Pacific Railway’s Board of Directors have agreed to extend President and Chief Executive Officer Keith Creel’s contract to lead the Company until at least early 2026. “Today’s announcement speaks to Keith’s leadership and bodes well for the continued long-term success of CP, to the benefit of its employees, customers, communities and shareholders,” said Chair of the Board, Isabelle […]

CP/KCS: Mega-merger Will Serve Three North American Coasts

CP/KCS: Mega-merger Will Serve Three North American Coasts

21.March, Calgary AB and Kansas City MO – Canadian Pacific Railway and Kansas City Southern entered into a merger agreement, wherein CP agrees to acquire KCS for stock and cash valued at approximately USD$29 billion, which includes the assumption of $3.8 billion of outstanding KCS debt. The transaction, which has the unanimous support of both […]

PAR SALE: Objections Pick Up Steam

DEWARE THE IDES OF MARCH. DISMISS THEM AT YOUR PERIL.

<UPDATE>PAR SALE: Objections Pick Up Steam

23.March, Washington, DC – Additional concerns have been filed pushing the STB to consider the CSX Application as a major transaction.  In addition to the new filings, the State of Vermont has fired another volley in response to the CSX reply issued in the state’s initial comments. The International Brotherhood of Electrical Workers, AFL-CIO (IBEW) […]

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