The official press release
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, […]