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Who is writing letters supporting a CP-NS merger?
Harrison is definately a numb-nuts; what part of “no” don’t you understand?
Someone should follow up with those shippers who sent “letters of support” to see if they really sent them or if they are complete forgeries. I put nothing past Mr. Harrison, Mr. Ackman, Mr. Creel, etal in the way of skullduggery and unethical behavior.
When will hunter Harrison give it up,he is not wanted.
Must be a debt payment coming up they can’t meet.
I’m starting to feel sorry for the CP spokesman, Martin Cej. In the previous discussion that you and I had about why the CP claims about gaining stock control of the IHB through a CP/NS merger completely misrepresented how the IHB stock ownership worked, I thought Mr. Cej was desperately trying to defend an untenable position. And he wouldn’t give it up. I can only assume he has been given his talking points with orders to defend them any way he could. His statement about the shipper letters, although not quite as wrong as his IHB stance, still sounds like he was given instructions to come up with the best spin he could think of regarding the differences in the support letters. So naturally he’s using the numbers of shippers (which slightly favors CP) versus the actual importance of the shippers (which favors NS). I have this image of him sitting at his desk, head in hands, asking himself, “what do I have to come up with today to defend CP’s misrepresentation of facts and advantages about the merger?”
Give up, Harrison. Nobody like you or your stupid idea. Shut up and go away.
Right on, Mr. Jeffries!
Mr. Robbins, could you elaborate here your reference to the IHB “previous discussion that you and I had…”. Was that you meeting in person, over the phone, or by email with Mr. Cej? Can I see more on how IHB plays into this?
I guess EHH has drank the Kool-aid of another baffoon and is going to make America great again.I can’t imagine any of the hired help from the track men to upper management at NS are planning a all aboard tour soon. Why can’t these type of people become bait on the tv show “The Deadliest Catch.” I just don’t undetstand. Mergers in the past were about being bigger and better rather than Sherman’s March on Alanta. I suppose EHH has some sort of connection with STB members ???
Is Kanye West EHH’S son ? Both are self-centered self-absorbed individuals. Not a good business model.
To answer Mr. Shapp, some time ago I had traded some personal emails between myself and Mr. Stephens describing the ownership structure of the IHB. That’s what I was referring to. Sorry about the confusing way I wrote that. You may remember that CP had touted as one of their points in favor of the CP/NS merger that it would help to alleviate Chicago rail congestion. Part of that statement was that the merger would give CP control of the IHB. That would allow EHH to apply his methods to the operation of the IHB and thus improve things. That claim is based upon the fact that CP owns 49% of the stock of the IHB company (correct) and that merger would allow CP to get NS’ 25.5% share of the remaining 51% (incorrect). I have seen where others said the same thing in relation to CP merging with CSX and getting CSX’s 25.5% of the IHB stock (also incorrect).
Neither CSX nor NS own any IHB stock. Designed on purpose as part of the Conrail merger process into CSX and NS so that no railroad could gain control of the IHB through merger, the ownership of the 51% of the IHB stock is firmly with Conrail. By agreement, CSX and NS, operating through Conrail, only have an equal voice in administering the IHB through Conrail. CSX may just be a little bit more equal than NS as CSX gets to pick the IHB General Manager, subject to the approval of NS (which such approval shall not be unreasonably withheld). The CP counter to this information is that merger would give CP a greater voice in the operation of IHB - again, if that happened they only get an equal voice to CSX. There is no NS or CSX ownership of any IHB stock that can be combined with CP’s 49% share.
Additionally, much of what the IHB maintains and operates on is owned by other companies. (And when I say ownership, I mean 100% ownership - not to be confused with the Conrail ownership of the 51% of the IHB stock). CSX owns the former MC main line from Ivanhoe to Calumet Park. NS owns the line from the Indiana Harbor Yard, thro
Keith, Excellent write up loaded with the real facts of the situation. EHH from the beginning has thought that we all are too stupid to find the facts and just “take his word for it”. EHH is just running scared because he knows the consequences of how badly he has taken the hacksaw to CP will come home to roost and there will be no more money, no more profits, and no more inflated stock to boast. There’s a “train wreck” coming EHH and we all see it in slow motion.