Blogs

  • Blog Post: A Rare Class-1 Rail CEO Gathering ...

    A rare trio spoke in August before an important annual professional gathering that represents all transport modes: Three leading Class-1 CEOs – BNSF’s Matt Rose, Kansas City Southern’s Mike Haverty, and Norfolk Southern’s Wick Moorman – spoke at a forum called “Balanced Regulation & Freight Railroads"...
  • Blog Post: Is KCS buyable, and by who?

    It’s silly time on Wall Street again. Bloomberg Businessweek calls Kansas City Southern, North America’s smallest Class I railroad, both alluring and expensive to acquire. It then goes on to explain which larger railroads may find it attractive. Among securities analysts surveyed by the publication...
  • Blog Post: KCS Part II: The minnow can swallow a whale

    In a response to my last blog, D.Carlton this morning jolted me wide awake. He said, in regard to which railroad might buy Kansas City Southern: “You have it backwards. The question is: Who is KCS going to buy?” Damn! That Mrs. Carlton sure raised a smart boy. In essence, what D. is saying...
  • Blog Post: Simple pleasures remembered

    I miss and wish I could recreate in my life today the excitement I felt as a sixth grader at the sight or even the sound of a train. Come with me back almost 60 years, to Sulphur Springs, a town of 9,000 or so in northeast Texas that was lucky to be visited by the Dallas branches of both Kansas City...
  • Blog Post: The railroad that cannot be bought

    In journalism we call it a slow news day, and at such times we try to think of anything we can write about. I don’t know the term securities analysts use on these occasions, but it obviously was such a day last week for two Canadian analysts, who suggested in separate notes to clients that Canadian...