CALGARY, Alberta — Canadian Pacific Kansas City said today that Class I railroad mergers are not necessary and that it isn’t interested in participating in an immediate round of consolidation. “We believe that a transcontinental merger would trigger permanent restructuring of the industry and result in a disproportionately large railway whose size and scope would […]
OMAHA, Neb. — BNSF Railway wants to date CSX — but has no interest in getting married. Five days after Union Pacific announced its $85 billion deal to acquire Norfolk Southern, Berkshire Hathaway Chairman Warren Buffett and CEO designate Greg Abel told CSX CEO Joe Hinrichs that they would not bid for the Eastern railroad. […]
Refrigerated intermodal company C.R. England Trucking and transloading and logistics firm The Transload Group on Monday announced their support for the Union Pacific-Norfolk Southern merger, citing the benefits of a transcontinental rail operator. The Salt Lake City-based C.R. England said it offered “strong support” for the merger, saying it believes the “coast-to-cost integration marks a […]
WASHINGTON — Union Pacific has bolstered its lobbyist efforts on Capitol Hill to support its effort to merge with Norfolk Southern. Politico reports the railroad has hired a team from the firm of Squire Patton Boggs led by former U.S. Rep. Bill Shuster (R-Pa.), who spent 18 years in the House, including six as chair […]
OMAHA, Neb. — When Jim Vena walked into the Union Pacific Center for the first time as CEO two years ago today, he was toting a black, spiral bound notebook that he takes everywhere. Among the entries jotted on the back pages — where he lists ideas, priorities, and possibilities — was a single word, […]
OMAHA, Neb. — The proposed Union Pacific and Norfolk Southern transcontinental merger could lead to nearly 10% traffic growth by 2030 — a significant turnaround for railroads that have yet to rebound to their pre-pandemic volume levels. UP and NS did not provide traffic growth projections as part of their July 29 merger announcement. Rather, […]
Union Pacific’s proposed $85 billion acquisition of Norfolk Southern is the logical outcome of nearly two centuries of rail history, retired NS CEO David Goode says. “The story of railroading has always been the story of mergers and expansion,” he says. And creating the first transcontinental railroad is no exception. These days Goode looks at […]
WASHINGTON — The Freight Rail Customer Alliance today said that it’s opposed to the Union Pacific-Norfolk Southern merger, arguing that the transcontinental combination would lead to higher costs and unreliable service. The umbrella group, which represents more than 3,500 electric utility, agricultural, chemical, and alternative fuel companies, called for “guaranteed competitive solutions” for carload and […]
The proposed Union Pacific-Norfolk Southern merger leaves three major intermodal customers — J.B. Hunt, Schneider, and STG Logistics — in the awkward position of having their tents pitched in the wrong railroad camps. J.B. Hunt, the largest domestic truckload intermodal operator, uses BNSF Railway in the West and relies primarily on Norfolk Southern in the […]
