My friend owns property near the Calumet Avenue Bridge that spans the EJE at Dyer, Indiana; he says that the EJE has been storing over 100 gondola cars on the siding near the bridge for several days now. He is wondering if this storage situation is the result of the CN deal going bad? Is the EJE in real trouble without the deal?
TM
It’s probably because steel shipments are way down. The CN deal is on track.
Everyone has cars in storage right now, it is just a sign of the times.
They could also be moving all the cars because of the rolling stock other than engines, rumor has it CN is only getting the flatcars. Everything else will stay with USS. It is true that steel prices have dropped like a rock recently.