CALGARY, Alberta — Canadian Pacific and Kansas City Southern executives say combining their railroads into the first system linking Canada, the U.S., and Mexico will generate significant traffic growth across all commodities. “What a historic day,” CP CEO Keith Creel said during a Sunday afternoon investor webcast where executives touted the $29 billion deal to create […]
CALGARY, Alberta — Canadian Pacific’s proposed acquisition of Kansas City Southern will unite the two smallest Class I railroads and create the only North American system that will operate in the U.S., Canada, and Mexico. The combination of the 12,500-mile CP and 6,700-mile KCS, announced today, is a classic end-to-end merger: The railways currently interchange in […]
CALGARY — On the same day that Canadian Pacific revealed its plan to purchase Kansas City Southern, the company’s board of directors has announced it has amended its contract with President and CEO Keith Creel to keep him in his current position until at least early 2026. The amendment addresses incentive compensation, the company says. […]
CALGARY — Canadian Pacific will buy Kansas City Southern in a cash and stock transaction worth approximately $29 billion, CP has confirmed. Financial Times first reported the story Saturday night. In an announcement posted Sunday morning, CP said the deal has the approval of both boards of directors, and confirms the previously reported price valuing […]
WASHINGTON — CSX Transportation has defended its proposed acquisition of New England regional Pan Am Railways. Vermont Rail System, along with transportation officials from Vermont and Massachusetts, claim the deal would harm rail competition in the region and should face a more thorough review from the Surface Transportation Board. Massachusetts officials and lawmakers also expressed […]
A 70-car Denver & Rio Grande Western narrow-gauge freight train drops down famous Tanglefoot Curve, just east of Cumbres, Colo., in June 1960. Since 1960, Cumbres & Toltec tourist trains have plied this landmark. Robert F. Collins […]
WASHINGTON — The Massachusetts Department of Transportation and Massachusetts Bay Transportation Authority have told federal regulators that they oppose CSX Transportation’s proposed acquisition of New England regional Pan Am Railways. In a filing with the Surface Transportation Board this week, state officials claim the transaction will harm rail competition, potentially hinder commuter rail operations, and […]
SACRAMENTO, Calif. — The effort to develop alternative-fuel locomotives continues to gain momentum. The California Energy Commission has awarded Sierra Northern Railway and research and development firm GTI almost $4 million to fund design, development, and demonstration of a hydrogen fuel cell-powered switching locomotive. The funds will retire a Tier 0 diesel and replace it […]
If you believe that railroads have sacrificed volume growth on the altar of the Cult of the Operating Ratio, then here’s some good news: A Wall Street analyst says major investors are growing weary of cost-cutting and want to see railroads attract more traffic. Credit Suisse analyst Allison Landry says some institutional investors are […]
Join Classic Trains editors in celebrating the hustle and muscle showed in Seaboard Air Line Railroad freight trains. We hope you enjoy this photo gallery of images selected form the files of the David P. Morgan Library at Kalmbach Media. […]
WASHINGTON — For the second week in a row, U.S. railroads saw in increase in both carload and intermodal traffic compared with the same week a year earlier, according to the latest figures from the Association of American Railroads. Statistics for the week ending March 13 show U.S. railroads moving 230,684 total carloads, a 2.1% […]
Crew misunderstanding, lack of ‘physical defenses’ play part in CP Calgary accident, TSB says A yard crew’s misunderstanding of track permission granted to an intermodal train, along with a lack of “physical defenses” such as signals, led to a collision and derailment of two Canadian Pacific trains near Calgary’s Alyth Yard in March 2019, the […]
