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What exactly is the relationship between CSX, NS, and Conrail?
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To begin with I'm not 100% sure that what I say is accurate but I'll say what I know about this topic. <br />April 1, 1976 ConRail's activation day. Conrail is created out of the ruins of these 6 bankrupt railroads: Central Railroad of New Jersey, Erie Lackawanna, Lehigh & Hudson River, Lehigh Valley, Penn Central, and Reading Railroads. <br />Conrail began a financial turnaround in 1981 and started to show profits. <br />Sometime around 1985-1987 the U.S. Government sold its (I think 85%) stock ownership to private individuals. Conrail basically became a for-profit company for the general public. <br />Norfolk Southern wanted the Gov. to sell it's stock to NS but the Senate decided to sell their share to the public. This kept ConRail independent for a while. <br />In 1994,1995, and early 1996 NS secretly approached Conrail with an offer to buy them. Conrail kindly refused. <br />October 15, 1996 Conrail and CSX Transportation announce a Corporate merger that will combine the Conrail and CSXT Rail Systems. <br />October 23, 1996 Norfolk Southern begins fighting back with lawsuits and it's own offer to buy Conrail. <br />Nov. 1996-April 1997 NS, CSX, and Conrail basically fight amongst themselves. <br />Sometime in early 1997 NS CEO David Goode and CSX CEO John Snow secretly agree to split Conrail. <br />1997 Conrail is to be split between Norfolk Southern and CSX Transportation. <br />Norfolk Southern will obtain 58% of Conrail's stock and CSXT will obtain 42%. However, NS and CSX will have 50/50 Control of decisions affecting Conrail. <br />August 22, 1998 Conrail is financially split between NS 58% and CSXT 42%. However, Conrail still continues to operate as a separate company under ownership of CSXT and NS. <br />Over 1998 and first two quarters of 1999 CSX and NS improve their systems to be compatible with Conrail. They plan for the takeover of Conrail's operations. <br />June 1, 1999 DAY ONE, Conrail is finally split between NS 58% and CSXT 42% <br />Several problems occur at the beginning, but eventually NS does a lot better, CSXT improves but still has several problems that are still being worked out. <br />Conrail today is a Company that is owned by it's parent Companys CSXT and NS. Conrail does switching operations in I think 3 major yards. Conrail does not own any locomotives any more. I think the report mark for the Conrail Shared Assets for the few cars they do own is SAA. <br />NYC Reporting Marks generally represent CSX ownership and PRR represents NS ownership. <br />
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