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STB now showing the letters
Everything is out in the open, as it should be. Today (January 8, 2016), the Surface Transportation Board established a page on its website, “Major Railroad Mergers and Consolidations Correspondence,”…
AAR’s Warchot joins private law firm
Association of American Railroads Senior Vice President-Law and General Counsel Louis P. Warchot has joined the Transportation practice of Sidley Austin LLP as counsel in its Washington, D.C. office.
CN files shelf prospectus for C$6 billion of debt securities
Canadian National Railway (CN) filed on Jan. 5, 2016 a final shelf prospectus with Canadian securities regulators and a registration statement with the United States Securities and Exchange Commission (SEC),…
Show us the letters, STB
On January 5, 2016, Reuters published a story containing excerpts of letters reportedly sent to the Surface Transportation Board by industry groups representing several major Norfolk Southern freight customers. The…
Leaked letters to STB indicate shipper concerns over CP+NS
Reuters, which originally broke the story late last year about Canadian Pacific’s targeting of Norfolk Southern for acquisition before CP officially announced it, has published excerpts of several letters to…
Centrist approach may quiet STB debate
The critical takeaway from enactment in December of the Surface Transportation Board Reauthorization Act, S.808, is that, absent headline-capturing abuse of captive shippers by railroads, it is unlikely Congress will…
STB seeks PRIIA Section 213 revisions
The U.S. Surface Transportation Board on Dec. 28, 2015 issued two interrelated decisions—a Notice of Proposed Rulemaking (NPRM) and Proposed Policy Statement (PPS)—proposing revised definitions and policy guidance for passenger…
Omnibus bill extends short line tax credit, funds TIGER and safety grants
The U.S. House of Representatives and Senate passed an omnibus spending bill late last week that will keep federal agencies funded through the end of September 2016.
Harrison to Durbin, et al: “There appear to be some misconceptions”
As Canadian Pacific continues to pursue a merger with Norfolk Southern, CP CEO Hunter Harrison sent a response to the members of the Illinois Congressional delegation (all Democrats) who sent…
Jason Seidl: CVR or not, it's still mostly about Hunter
According to Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl, “The addition of a contingent value right (CVR) is Canadian Pacific’s way of providing…
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