STB

CP to KCS Shareholders: Read the Blue Card and Vote Red (“Stop”)

Know your colors and words: Canadian Pacific has filed a preliminary proxy statement and accompanying “BLUE” proxy card with the Securities and Exchange Commission (SEC) to be used to solicit votes of Kansas City Southern (KCS) shareholders to vote “AGAINST” the proposed CN-KCS combination at a scheduled Aug. 19, 2021 KCS special shareholders meeting.

STB Chairman Oberman’s information request to the Class I chief executives is “designed to help the Board better understand the magnitude of container congestion, the purpose and effect of storage fees, and whether receivers are afforded relief when they lack the ability to facilitate the release of their containers.”

STB to Class I’s: Terminal Congestion, Demurrage Data, Please

Surface Transportation Board (STB) Chairman Martin J. Oberman has called on the CEOs of the seven North American Class I’s to provide information on the extent of congestion at key U.S. container terminals and on their policies and practices for assessing container demurrage fees, citing reports of “substantial charges being levied by the railroads for container storage at these terminals.”

Biden Targeting Class I Rail Mergers? Report (UPDATED)

President Biden on July 9 will sign an Executive Order directing federal regulators to “confront consolidation and perceived anticompetitive pricing” in the railroad and ocean shipping industries, among many others, “as part of a broad effort to blunt the power of big business to dominate industries,” according to a July 8 Wall Street Journal story by reporters Tedd Mann and Andrew Restuccia.