Acording to information posted on th BLE local 659 (www.BLE659.com) the NS is taking over the D&H railroad from the CP. This should be an intrestering change in the railroad picture in the east.
I wonder how the CN and CSX will react to this. The CN has made it known that it is intrested in the D&H.
I hope none of my railroad friends lose their jobs. I assume that the railroad will have to address this with the various unions.
WHAT?!?!
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
Guess I better get out and take some pictures of the white Soo Line units before they disappear to parts elsewhere. Any time frame known on this transfer?
A proud name like the D&H could use a strong parent not associated alien or foriegn roads. Things could be a whole lots worse, better to be a chapter in the aqusitions of a successful business than a chapter number in the bankruptsy code and the tracks not being there anymore (not to mention some folks without a living at all).
The BLE post states September of 2004 but that sound a little short to me unless the STB fast tracks it and the unions contracts can be worked out quickly. If there are objections from other railroads and shippers it could take a lot longer. We will just to have to wait and see.
It is possible that the deals are all worked out already.
I am shocked.
In the past a DERECO a subsidiary of NS controlled the D&H. I am wondering why NS would want another go around with D&H, or why CP would want to get rid of it. This sounds like another unfounded rumor to me.
CPR issued a press release today acknowledging the story on the BLE website and denying that there is anything other than its continued interest in earning a profit for its stockholders.
Because CPR and NS are both publically traded companies, and this would be from the SEC’s point of view a significant transaction, there can be no statement from either company other than a categorical denial, or a press release announcing an acquisition or merger. Any officer of the company telling a friend or spouse outside the company about an impending deal in advance of a press release, or conversely that there is no impending deal, would be subject to civil penalties, and possibly criminal penalties.
In other words, until you see a press release announcing a sale of the D&H, I wouldn’t waste one-half second wondering or worrying if it’s around the corner. No one is going to tell you until it’s a done deal until it IS a done deal, and you’ll find out the same day everyone else (including me!) finds out.
I have some comments similar to Mark’s above on the thread on UP/CSX. I’m a little surprised at the source of this one, but I looked at some of the other stuff on that Local’s site. It’s clear that the local chairman is very active and seems to be tossing out just about everything that comes his way-including rumors.
Jay
While it’s true that no officer would make a statement about a pending merger or acquisition. That doesn’t mean they aren’t in the rumor mill. This rumor has been around for over a year. Who knows? I certainly don’t, but nothing surprises me anymore…
LC
OK folks lets ask a few questions: Has there been an extra ordinary audit of the D&H books? Has anyone out there seen survey crews checking line, grade or topography, seen unknown auditors examining shop records and procurement documents, seen inspectors making more than visual but detailed inspection of structures, machinery, and materials onhand or have industrial engineers been conducting surveys of operating control practice and activity ? If BLE659 is able to say yes to any of these things, more than a few words of shock and awe may be going to that website, but if the answer is no, a lesson or two from Black on Real Estate or a course on secured transactions may be in order to prevent words of an unwelcome nature from showing up on BLE659 website, not to mention a call on the local from a few folks from the SEC and other interested parties.
I will truly miss seeing the red in the hills as the D&H goes down the valley from exit 25A (New York State Thruway) to where I say goodbye to it in Binghamton, NY on my way home to see my parents from where I live Worcester, Massachusetts. I have been fortunate enough to see a train many times when I go home at Thanksgiving, or at Christmas and the red CP engines are always so exciting to watch. I even got a chance to see a CP work train with a caboose a year ago but now… Times do change and though the trip home is always good, this 100+ mile section of the trip has always held a special charm as the chance of seeing the red always kept me on the edge of my seat.
Bill Warner (ww)
I was not even sure the D and H even exisyed anymore.
Plenty of employees will tell you it does…at least for now…
LC
It doesn’t, its a part of CPR. The funny thing is the CP is running more trains now then they did a few months ago when it was almost certain the G&W would buy the D&H from CP. I’ve seen a lot of D&H runthroughs here in NS country.