WITH PATRIOT CORRIDOR SPEEDS UP SUBSTANTIALLY, AND 'KEAG LINE DUE FOR MAJOR SPRING UPGRADE, CSX WILL BE ACQUIRING A SHIP-SHAPE MAIN LINE.
PAR track crews have been working right into the winter on opposite ends of the Freight Main Line (Mattawamkeag ME – Mechanicville NY). Two projects underway: 1. Restoring through service on the Pine Tree Corridor east end to CPF-01/Mattawamkeag, and 2. Increasing speeds on the 156-mi Patriot Corridor between CPF-312 (Ayer MA) and CPF-468 (Mechanicville). […]
So, CSX, you’ve just bought the largest regional railroad. Let’s take a look at what you have and what is unique about this region you’ve expanded into. Do you really need our advice? Maybe not – CSX is already the leading class 1 in regards to reliable service and customer connection. CSX already toured the […]
PAR: ANNOUNCES SALE AGREEMENT TO EMPLOYEES
CSX: ANNOUNCES SALE TO PUBLIC AND CUSTOMERS
NS: ISSUES CAUTIOUS STATEMENT IN PRESS
Pan Am Announcement to Employees 30.November, Billerica MA — In a letter to employees circulated Monday afternoon (but apparently written two weeks ago) Pan Am Railways President David A. Fink announced that PAR is to be sold to CSX, pending regulatory approval. CSX Announcement to Public and Customers 30.November, Jacksonville FL — CSX President/CEO Jim […]
CN subsidiary Bessemer and Lake Erie Railroad Company (B&LE) and CSX Transportation, Inc. (CSXT) had originally held a drop dead date of 30 November 2020, for the closing of a deal on the Massena Line acquisition by CN from CSXT. The deal had been held in limbo by CN roughly since 5 June 2020, when […]
JACKSONVILLE, Fla. – November 30, 2020 – CSX Corp. (NASDAQ: CSX) today announced that it has signed a definitive agreement to acquire New England’s Pan Am Railways, Inc. (“Pan Am”), whose rail carrier subsidiaries comprise North America’s largest regional railroad. Headquartered in North Billerica, Massachusetts, Pan Am owns and operates a highly integrated, nearly 1,200-mile […]
MASSACHUSETTS INDUSTRIAL RAIL ACCESS PROGRAM GENERATES RECORD $7 MILLION FREIGHT RAIL DEVELOPMENT, DESPITE PANDEMIC-REDUCED STATE CONTRIBUTION.
As with every state in the Year of the Coronavirus, Massachusetts’ coffers are drastically lower than anticipated at the beginning of 2020. In line with all Massachusetts government agencies confronted by the state’s pandemic budget deficit, the 2020 IRAP VIII program reduced its grant budget by 11% compared to 2019. But thanks in part to […]
CSX INTEREST IN PAS B&M ROUTE IMPLICITLY PUTS CSX B&A LINE ON THE BLOCK; ONLY ONE BUYER IS WILLING TO PAY THE PRICE.
A long-sought East-West passenger solution may be another dramatic discovery fallen out of Norfolk Southern’s recent filing with the STB, which divulges CSX’s advanced interest in partnering with NS on the B&M/Patriot Corridor line. Numerous advocates have publicly urged the Commonwealth of Massachusetts to impose itself in the Pan-Am sale, as an opportunity to secure […]
Norfolk Southern this week reported financial results for the quarter ended September 30, 2020. During the quarter, the company achieved net income of $569 million, diluted earnings per share of $2.22, and an operating ratio of 66.5%. These results include a previously announced $99 million non-cash impairment charge. Excluding the effects of the impairment charge, […]