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House passes S. 808; next stop: the President
The U.S. House of Representatives on Dec. 10, 2015 passed S. 808, the Surface Transportation Board (STB) Reauthorization Act of 2015, which among other provisions, will increase the number of…
CP sweetens deal as NS calls up reinforcements, says “no” again
Canadian Pacific’s pursuit of Norfolk Southern has taken on the tone of a rough-and-tumble yet well-intentioned star athlete pulling out all the stops to capture the heart of his dream…
CP-NS: Voting trust and other conundrums
Levitation takes two forms among railroads—magnetic levitation relating to futuristic high-speed passenger transport, and stock levitation associated with bidding wars for asset control.
CP pursuing NS. Game on!
It’s official: Canadian Pacific on Nov. 17, 2015 sent an offer letter to Norfolk Southern proposing a merger (an acquisition, really) “that would create a transcontinental railroad with the scale…
CP-NS transcon a craps table roll
Few obstacles bedevil railroads as has the Mississippi River. Spanning it was the nation’s first rail bridge in 1856—promptly assaulted by steamboat Effie Afton. While the bridge was repaired and…
CP + NS is in play: Reports
Canadian Pacific Railway has held early-stage merger talks with Norfolk Southern and is raising financing for an acquisition, according to Nov. 9, 2015 news reports citing confidential sources at both…
STB to hold rail service performance data meetings
The Surface Transportation Board (STB) announced Nov. 9, 2015 that its staff will hold informal meetings with stakeholders between Nov. 16, 2015 and Dec. 7, 2015, on proposed rules for…
Linda J. Morgan, 1952-2015
Linda J. Morgan, 63, the former U.S. Surface Transportation Board Chair who led the agency during the railroad megamergers of the 1990s, died Wednesday, Nov. 4, 2015, after a long…
CURE reinvents itself as FRCA
Long-time advocate for freight rail shippers Consumers United for Rail Equity (CURE) announced on Sept. 10, 2015 “a new name and a new advocacy approach.”
STB sets 2014 rail cost of capital at 10.65%
The Surface Transportation Board has set the rail industry’s 2014 after-tax cost of capital at 10.65%, some 6% lower than the 2013 figure of 11.32%.
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