Archive for April 2021
CP, CN, KCS merger dance takes new turns
(Source: Railway Age, April 24, 2021) NEW YORK — As soon as the STB issued its decision granting Kansas City Southern a waiver from prevailing merger rules established about 20 years ago, KCS—following the terms of its existing merger agreement with Canadian Pacific—said it would now consider CN’s counter-offer. Full story: Railway Age Monday, April 26,…
Read MoreHouse Transportation Committee chair skeptical of rail merger offers
(Source: Freight Waves, April 23, 2021) CHATTANOOGA, Tenn. — The chair of the House Transportation and Infrastructure Committee panned competing efforts by two Canadian railways to acquire Kansas City Southern, saying the offers threaten to usher in a new round of consolidations in the rail sector. In a Friday statement, Rep. Peter DeFazio, D-Oregon, said,…
Read MorePandemic effects still inflating U.S. rail traffic figures
(Source: Progressive Railroading 04/22/2021) U.S. railroads reported 533,217 carloads and intermodal units for the week ending April 17, a 32.2% jump from traffic levels in the same week a year ago, according to Association of American Railroads (AAR) data. Carloads for the week totaled 237,607, up 25.2% compared with the same week in 2020, while U.S. weekly intermodal volume totaled 295,610 containers and…
Read MoreGOP senators unveil counterproposal to Biden’s infrastructure plan
(Source: Progressive Railroading 04/23/2021) A group of U.S. Senate Republicans led by Sen. Shelley Moore Capito (R-W.Va.) yesterday introduced a five-year, $568 billion infrastructure plan — a much smaller and more narrow proposal than President Joe Biden’s $2.3 trillion American Jobs Plan. The GOP’s plan would address what the senators characterized as core, physical infrastructure: roads and…
Read MoreLance Fritz says UP will be an “active participant” in CP or CN merger with KCS
(Source: Railway Age, April 22, 2021) NEW YORK — On Union Pacific’s April 22 1Q2021 earnings call, chief executive Lance Fritz was peppered with questions about the potential implications of Canadian Pacific or CN acquiring Kansas City Southern. Following is a transcript (edited for clarity) of Fritz’s responses to those questions. Full story: Railway Age Friday,…
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