With the thought of CSX sparking a few line spinoffs, anyone have any idea of what might be on the table as viable candidates?
Michigan, Florida, Illinois, Indinana, Ohio, Pennsylvania, Maryland, Delaware, Virginia, North Carolina, South Carolina, Tennessee, Mississippi, Louisiana, Georgia, Alabama, Canada
You left out New York…
New York and Mass. are for the Wall Street Supporters
I know if they put up the old RI line they run Iowa Interstate will grab that one faster than a pizza disappers at a Weight Watchers convention.
What lines would be of interest to BNSF & UP? Would CSX sell lines to either, or both western railroads?
Ask STB first.
CSX doesn’t own that line. They have a long term lease on it with IAIS subleasing parts of the west end. I’m sure your right that IAIS would love to get the whole thing if they could.
Jeff
Which lines in Pennsylvania might they want to spin off and would NS be interested ina any?
Why not Kentucky?
Who gets New Jersey ?
The Christe estate of excess chlosterol.
I could definitely see CPRS being interested in the ex-C&O mainline across Michigan so that they would have their own route to connect Chicago with Detroit. I think it would be interesting to see if CSXT would be willing to part with their portion of the former PRR Chicago - New York mainline between Tolleston, Indiana and Crestline, Ohio. No doubt IAIS would love to get control of things between Bureau, and Rockdale, Illinois if they could do it.
More likely it would be RJ Corman or Genessee & Wyoming interested in getting CSX lines in PA.
Anything for Mantle Ridge to hoover out the money from the shell.
Perhaps now would be a good time to push a high-speed passenger rail initiative proposing one of those public/private partnerships where some rich guy gets to control the farebox, and the taxpayer gets to pay all the bills?
Balt,
I hear what you are saying. Hedge funds are the modern day “Carl Ichan corporate raiders”. Make a quick turn, grab the money, sell while stocks are high and ‘git while the gittin’s good’. Sell un-needed assets till the company bleeds in order to raise profit margins and cash.
Most small investors, those seeking either dividens or building their portfolio for retirement are seeking long term benefits. The other side of the equation is those who would deny/rob those small investors. Seems to be the way of life theese days.
Legal? Perhaps. Ethical? Doubtful, but the matra is now every man for himself and those who have the ability to control major corporations have the advantage.
Both my sister and I had stock in General Motors given they were a huge presence in our area and were profitable for most of our lives. When I saw them going downhill I bailed. I saved my principal and she hung on. I have no idea how much she lost by doing so.
As the Kenny Rogers song said "Know when to hold 'em know when to fold 'em. Until CSX gets theit act back together they will not get a dime of my money.
Rats! I was hoping to pick up a little something in South Dakota at a distressed price.
Despite the fact that Michigan has its own budgetary woes, it’s been pretty active in maintaining a passenger rail network. Perhaps CSX can give the state a good price for its line from Grand Rapids to somewhere in the Detroit area, and offer a passenger schedule to connect Detroit (or Plymouth) to GR via Lansing.
I wonder if NS would be interested in the CSX line from Hagerstown, Md up through Gettysburg, PA and then down to Baltimore. Md/
They also have a yard in Hagerstown and it would allow them to not only get to Harrisburg, via Chambersburg, Pa. There already is a CSX/NS connection in Chambersburg, PA and it would give them a shorter route to Baltimore.