OMAHA, Neb. — Union Pacific and Norfolk Southern say their proposed transcontinental merger will take more than 2 million trucks off the road annually, boosting the combined system’s traffic by 1.4 million intermodal loads and 425,000 carloads. The nearly 12% growth projection is among the details included in the 6,692-page merger application the railroads filed […]
OMAHA, Neb. — Union Pacific and Norfolk Southern will file their merger application with federal regulators on Friday, the railroads said today. The document, which will be filed with the Surface Transportation Board, will allow the railroads to show how their combination will deliver economic benefits, enhance competition, and protect union jobs, the railroads said. […]
The Brotherhood of Locomotive Engineers and Trainmen and the Brotherhood of Maintenance of Way Employes Division will oppose the Union Pacific-Norfolk Southern merger despite UP’s promises of lifetime job protection. “This debt-ridden tie-up won’t make rail more competitive with trucks as merger proponents claim,” BLET National President Mark Wallace said in a statement on Wednesday […]
WASHINGTON — A trio of Southern Democratic congressmen have come out in favor of the Union Pacific-Norfolk Southern merger. Calling rail freight “vital to our states and the country’s economy,” a letter from U.S. Reps. Bennie Thompson of Mississippi, and Troy Carter and Cleo Fields of Louisiana urged Surface Transportation Board Chairman Patrick Fuchs to […]
PALM BEACH, Fla. — Canadian Pacific Kansas City CEO Keith Creel disagrees with Union Pacific CEO Jim Vena’s contention that the UP-Norfolk Southern merger will be a slam dunk in Washington. “I don’t think it’s a fait accompli. I do not,” Creel told an investor conference on Tuesday. “People are grossly underestimating the complexity of […]
PALM BEACH, Fla. — Union Pacific and Norfolk Southern now expect to file their merger application with federal regulators around Dec. 16, two weeks later than they had originally hoped. UP CEO Jim Vena told an investor conference on Tuesday that one of the contractors working on a section of the application needed additional time […]
WASHINGTON — More than 60 trade associations have told federal regulators that they fear that Union Pacific’s proposed $85 billion acquisition of Norfolk Southern will raise rates, hurt service, and put too much traffic under control of a single railroad. “History has shown that increased rail consolidation leads to fewer choices, higher transportation costs, service […]
OMAHA, Neb. — Union Pacific and the International Brotherhood of Boilermakers have reached an agreement guaranteeing job security for union members if the UP-Norfolk Southern merger is approved, the fourth such agreement involving the railroad. It will cover current UP and NS workers at the time a merger occurs. “The Boilermakers union looks forward to […]
NEW YORK — BNSF Railway, Canadian National, and Canadian Pacific Kansas City are touting interline partnerships as a way to gain new volume without having the regulatory and service-meltdown risks associated with a merger. But Union Pacific and Norfolk Southern say alliances are built on a foundation of sand, and can shift with the whims […]
WASHINGTON — Attorneys General in three states — including the headquarters states of both railroads — have announced their support for the proposed Union Pacific-Norfolk Southern merger. In a Nov. 20 letter to Surface Transportation Board Chairman Patrick J. Fuchs, Attorneys General Chris Carr of Georgia, Mike Higlers of Nebraska, and J.B. McCuskey of West […]
NEW YORK — Rail industry officials focused on only three topics during the opening day of the RailTrends conference: Merger, merger, and merger. Union Pacific’s proposed $85 billion acquisition of Norfolk Southern dominated conversations and presentations on Thursday. Can the plan to create a transcontinental railroad win regulatory approval? Can it lead to volume growth […]
WASHINGTON — CSX Transportation has objected to the accelerated schedule Union Pacific and Norfolk Southern have proposed for Surface Transportation Board consideration of the UP-NS merger, with CSX offering its own proposal for a slightly longer schedule than an STB proposal that largely follows an earlier UP-NS proposal. CSX says the proposed shorter timeline “imposes […]
