NEARS/Cowen Fireside Chat with Keith Creel: CPKC ‘Least Risky’

As part of the NEARS (Northeast Association of Rail Shippers) virtual conference, Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl hosted Canadian Pacific President and CEO Keith Creel in a “fireside chat” to discuss the proposed merger between CP and Kansas City Southern.

CN’s Bid for Kansas City Southern, with JJ Ruest and Rob Reilly: RAIL GROUP ON AIR PODCAST

One month after Canadian Pacific and Kansas City Southern announced their intent to merge into CPKC (Canadian Pacific Kansas City), CN made a counter-offer it said is a “superior proposal” that “will

AAR: Intermodal Soars in Week 16

U.S. intermodal continued its double-digit growth trend for the week ending April 24, 2021, with a whopping 34.3% gain vs. the prior-year period, according to an Association of American Railroads’ (AAR) April 28 report.

“Our first-quarter results demonstrate our team’s ability to deliver strong performance in the face of significant supply chain disruptions,” said NS Chairman, President and CEO James A. Squires.

NS 1Q21: ‘Strong Performance’ Despite Disruptions (Updated, Cowen)

“Our steadfast commitment to improving productivity and executing our Precision Scheduled Railroading strategy has propelled us to another record operating ratio performance, while we grew revenues and earnings in the quarter,” Norfolk Southern (NS) Chairman, President and CEO James A. Squires said April 28 during a 2021 earnings announcement.

CP: CN’s Voting Trust Rationale ‘Contrary to Law’

Yet another letter. Be warned: This one, nearly 3,000 words, is from Canadian Pacific’s attorney to the Surface Transportation Board. It essentially says CN has it totally wrong by asking the STB to approve a voting trust for its proposed acquisition of Kansas City Southern under the same conditions as a CP-KCS combination.

CN1Q2021: ‘High Degree of Confidence’ (UPDATED)

CN’s first-quarter 2021 results included “an industry-leading increase in traffic volume of 5% year-over-year.”

Blume Global and DCLI, with Bill Shea and Pervinder Johar: RAIL GROUP ON AIR PODCAST with MARINE LOG

For the first time, Railway Age and Simmons-Boardman Publishing Corp. sister publication Marine Log join forces to discuss the global rail and marine intermodal logistics scene with Bill Shea, CEO of DCLI (Direct Chassis Link Inc.)

Cowen Snap Shipper Survey Appears to Favor CPKC

A Cowen and Company “snap” railroad shipper survey conducted over a one-day period indicates that CN “is likely to have a more difficult time with shippers supporting its proposed acquisition of Kansas City Southern. This compares to a more favorable view by shippers of Canadian Pacific acquiring KCS in our most recent survey.”

CN Letter: Former STB General Counsel Weighs In

The letters keep coming! CN on April 23 filed a letter with the Surface Transportation Board regarding CN’s “superior proposal to acquire Kansas City Southern in a cash-and-stock transaction valued at $33.7

Chess Game for Railroad Real Estate (UPDATED)

A bidding war has broken out for the Kansas City Southern, but it’s actually more like a chess game. Here are some observations about what it all could mean, especially in terms of railroad “real estate,” from my economist observation post.