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CALGARY, Alberta – Canadian Pacific CEO Keith Creel says Tuesday’s Surface Transportation Board decision that rules out a Canadian National-Kansas City Southern merger proves what he’s been saying all along. “The ruling … confirms what we’ve always believed to be true. And I’ll use their words: A CP-KCS combination is substantially different, substantially different. Those are […]
The Surface Transportation Board took 33 pages to explain why it rejected Canadian National’s request to put Kansas City Southern into a voting trust while their proposed merger would be placed under the regulatory microscope. Buried on Page 31 of the board’s decision is a 105-word passage that – aside from a potential Canadian Pacific-KCS […]
MONTREAL – Canadian National’s second-largest investor today urged the railway to drop its bid for Kansas City Southern and called for the resignation of board Chairman Robert Pace and CEO JJ Ruest. TCI Fund Management recommends that Jim Vena – a former CN chief operating officer who most recently headed operations at Union Pacific – be […]
WASHINGTON — Federal regulators Tuesday rejected Canadian National’s request to put Kansas City Southern into a voting trust, dealing a serious blow to the first merger between Class I railroads in two decades. The Surface Transportation Board’s decision that placing KCS into a voting trust was not in the public interest may prompt the railroads […]
MONTREAL — A London-based activist investment firm has amassed 5.2% of Canadian National’s shares and says it will seek to influence how the railway is run. TCI Fund Management — which in May asked CN to call off its proposed merger with Kansas City Southern — is now CN’s second-largest single shareholder, behind only Cascade […]
NEW ORLEANS — Rail service to New Orleans and the Gulf Coast remains disrupted following Sunday’s arrival of Hurricane Ida, with Kansas City Southern, Union Pacific, Norfolk Southern, and Kansas City Southern all reporting continuing shutdowns following the storm that has left much of Louisiana and parts of Mississippi without power. Kansas City Southern said […]
Product news Model railroad operators and builders can get the latest information about locomotives, freight cars, passenger cars, tools, track, and more by reading Model Railroader’s frequent product updates. Here are the products Model Railroader editors have news on for the week of September 2, 2021. HO scale locomotives Electro-Motive Division E1A and E1B diesel […]
CHICAGO — The North American Rail Shippers Association has added an online participation option to its annual meeting, to be held in Chicago Sept. 7-9. “To make attending as convenient as possible we have added online options because we know there is still uncertainty about traveling due to COVID-19,” NARS President Tom Tisa said in a […]
In every issue News p. 4 A matter of trust: Canadian National wins bidding war for Kansas City Southern Brian Solomon p. 8 Crossover conundrum: The constraints of infrastructure costs Bill Stephens p. 9 The intermodal no man’s land: Can railroads ever tap the potential of watershed traffic? Preservation p. 46 So you want to […]
SPRINGFIELD, Ill. — The Illinois Department of Transportation has announced a $10.1 million project to improve rail operations in Mitchell, Ill., northeast of St. Louis. The project will reconfigure rail lines and replace a 97-year-old interlocking tower, with funding from six sources: $5.1 million from the Federal Railroad Administration’s Consolidated Rail Infrastructure and Safety Improvments […]
KANSAS CITY, Mo. — Kansas City Southern shareholders will vote on the proposed merger with Canadian National on Sept. 3. KCS this morning convened and adjourned its previously scheduled special meeting of shareholders, delaying the vote in the absence of a Surface Transportation Board decision on CN’s request to put KCS into a voting trust […]
MOSSVILLE, La. — Infrastructure and supply-chain firm Savage and Kansas City Southern have announced they will build a transload and railcar storage facility on property leased from KCS’s Mossville, La., yard. Savage’s Mossville multi-commodity railport will help serve Lake Charles area refineries, chemical plants, and other businesses. “Savage has a longstanding relationship with KCS and we’re […]
