General Information
Rail industry defends safety record amid staffing cuts
(Source: Associated Press, May 16, 2021) OMAHA, Neb. — Even as railroads are operating longer and longer freight trains that sometimes stretch for miles, the companies have drastically reduced staffing levels, prompting unions to warn that moves meant to increase profits could endanger safety. Full story: Associated Press Monday, May 17, 2021
Read MoreCongress to GAO: Investigate PSR’s effect on safety, labor, shippers
(Source: Supply Chain Dive, May 14, 2021) WASHINGTON, D.C. — A committee of the U.S. House of Representatives on Wednesday sent a letter asking the Government Accountability Office to conduct a study into the impact precision scheduled railroading has had on shippers and “other affected parties.” The letter specifically requested the GAO provide a report…
Read MoreAAR: Rail traffic numbers continue to improve
(Source: Progressive Railroading 05/13/2021) For the week ending May 8, U.S. weekly rail traffic totaled 523,309 carloads and intermodal units, up 26.9% compared with the same week last year, according to Association of American Railroads (AAR) data. Carloads for the week reached 236,019, up 27.6%, while U.S. weekly intermodal volume climbed 26.3% to 287,290 containers and trailers. …
Read MoreMerger mayhem: CN ups KCS offer; CP seeks to respond
(Source: Progressive Railroading 05/14/2021) CN has sweetened its offer to acquire Kansas City Southern. Under terms of its revised proposal, CN now would exchange each share of KCS common stock for $200 in cash and 1.129 shares of CN common stock, implying a total enterprise value of $33.6 billion. CN also has agreed to reimburse KCS $700…
Read MoreGame over for CP-KCS? Maybe, maybe not
(Source: Railway Age, May 13, 2021) NEW YORK — The activity involving Kansas City Southern and its two potential merger partners, Canadian Pacific and CN, took yet another turn late on May 13. CN appears to have come out on top, but don’t count CP out, at least not yet. KCS on May 13 announced…
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