CSX-NS resolution of the spoils?

[Anonymous]

On page 19 of the Nov 2003 issue, in the abandonment/aquisitions section, the line item for 7/16 seems to be a real "'zinger" that I'm surprised there hasn't been more discussion on here.

Am I reading this correctly? This is to be the ultimate fate of the old Penn-Central real property in the splitting up of the conrail spoils?

There would seem to be some competition issues if this is the correct disposition.

[Anonymous]

Wow, no thoughts or opinion huh? (bump)

[dehusman]

Myabe if you gave some details on what magazine, what line, etc. you might get some responses. Not everybody buys Trains.

[JoeKoh]

I find it interesting that the railroads that were bullied by the Prr and the NYC now run the show.just my two cents
stay safe
Joe

[Anonymous]

QUOTE: Originally posted by dehusman

Myabe if you gave some details on what magazine, what line, etc. you might get some responses. Not everybody buys Trains.

Good point! It was the Nov issue of Trains magazine, and I'd give you more information except the line item was cryptic by the very nature of it's conciseness, no specific lines were mentioned, leading me to wonder if it is some "macro" end in and of itself.

Basically, it said CSX and NS seek to consolidate NYC with CSX, and Pennsylvania lines with NS, then explains that NYC and PRR are legal entities of CSX and NS ownership of Conrail Shared Assets. And that "the transaction would extend to CSX and NS full full (sic) legal ownership of NYC and PRR Business and properties"

I bumped this thread mainly because it is now Monday, and I was hoping for a little editorial input from magazine staffers, as if it means what I think it means, it leaves my town, Ft Wayne Indiana, an "ALL NS'' town, as most of the one NYC line to ever enter the town is already gone, and whats left of it seems earmarked to soon become a "jogging trail'' I was under the impression that the old Pennsey line was to become part of CSX, to assure competition. Not so, this entry would seem to indicate.

YOU DON'T READ THE MAG?? For shame! It's a nice mag .

[Anonymous]

QUOTE: Originally posted by JoeKoh

I find it interesting that the railroads that were bullied by the Prr and the NYC now run the show.just my two cents
stay safe
Joe

You know Joe, that is funny, in it's own little way

[mudchicken]

WHOA!

You didn't catch the "LLC" moniker after the names AntiGates. You won't see any New Haven, Lehigh Valley, Reading or any of the other monickers in there either bubba! The LLC's are designated to be the breakup parties. If you want a scandal, go look at what the real Penn Central Corporation did after the demise of PC and the beginning of CR. Hard to believe to some, but real estate agents can be a lower caste of animal than even shady used car salesmen.....Penn Central's land operation is now America Premier Underwriters/ Great American Insurance (It had plenty of other names in-between, changing names to protect the guilty!!!!)

The surveying profession has kept a sharp eye on the real estate TRADE for years, with the Penn Central debacle in Indiana, Ohio and WV etched in their memory. For you ENRON fans, Penn Central attorneys and asset management people (non-railroaders) made ENRON look like corporate angels by comparison (except small landowners got swindled instead of stockholders, REIT's and mutual funds owners).....PC sold land that wasn't theirs and several parcels to more than one owner.

Know your history, lest it repeat itself a few generations later!

Mudchicken

[Anonymous]

QUOTE: Originally posted by mudchicken

WHOA!

You didn't catch the "LLC" moniker after the names AntiGates. You won't see any New Haven, Lehigh Valley, Reading or any of the other monickers in there either bubba! The LLC's are designated to be the breakup parties. If you want a scandal, go look at what the real Penn Central Corporation did after the demise of PC and the beginning of CR. Hard to believe to some, but real estate agents can be a lower caste of animal than even shady used car salesmen.....Penn Central's land operation is now America Premier Underwriters/ Great American Insurance (It had plenty of other names in-between, changing names to protect the guilty!!!!)

The surveying profession has kept a sharp eye on the real estate TRADE for years, with the Penn Central debacle in Indiana, Ohio and WV etched in their memory. For you ENRON fans, Penn Central attorneys and asset management people (non-railroaders) made ENRON look like corporate angels by comparison (except small landowners got swindled instead of stockholders, REIT's and mutual funds owners).....PC sold land that wasn't theirs and several parcels to more than one owner.

Know your history, lest it repeat itself a few generations later!

Mudchicken

I like a good "scandal" same as most people, especially since the years I worked IT, warehousing, and development, it was for a real estate company (28 years)[:D]

I was a jerk,..err I mean JACK of all trades you might say, and had some fascinating discussions with men we hired away from Santa-Fe Southern Pacific Realty etc while working out of our California office.

I often think Railroading would have been better off if Jay Gould had succeeded in his intent to build his transcon, the way he wanted it, fwiw

I was just curious the way the article said ~and properties~, makes one wonder.

[dehusman]

It probably means very little from an operations standpoint. During the merger proceedings the NS and CSXT started divying up the CR rail equipment assets by putting the NS' portion under "PRR" initials and the CSXT's portion under "NYC" initials since CR already owned the NYC and PRR reporting marks.

I read the statement that they (NS and CSXT) are formally aquiring the the reporting marks into their own group of marks. So NS would own NW, SOU, CG, and PRR. CSXT would own BO, CO, WM, LN, SCL, and NYC.

Thus officially transferring ownership of the marks and the equipment to the separate roads.

Trains published some material several years ago that I found personally objectionable and so I rarely read the magazine.

[JoeKoh]

Hey anti-gates
Doesn't csx still have a yard south of Ftwayne off of Coliseum Blvd just west of the old International Harvester plant?The last I knew they had a yard there.Triple crown was across the viaduct.When I went through van wert over the weekend the old PRR line had CSX signs on the crossings.just curious.
stay safe
Joe

[Anonymous]

QUOTE: Originally posted by JoeKoh

Hey anti-gates
Doesn't csx still have a yard south of Ftwayne off of Coliseum Blvd just west of the old International Harvester plant?The last I knew they had a yard there.Triple crown was across the viaduct.When I went through van wert over the weekend the old PRR line had CSX signs on the crossings.just curious.
stay safe
Joe

Yeah joe, the OLD PRR line. Which is exactly the line I was wondering about with the articles referance to NS taking up the old PRR property.

Not that it matters a lot, if you take I--469 around the SW side of town, and gander down the ol PRR main, all you see is two long ribbons of dark advanced rust anyway, CSX rarely comes to town (from my observations anyway, I'm not quite caught up in it enough to be maintaining time tables.............

The only traffic I've seen since June on the line where it comes through down town is an occassional NS and some independant with green and white motive power, usually with short loads

[JoeKoh]

hmmm its been awhile maybe i can convice mamma to go shopping while I check it out.I'll check out my friends in Garret to.Let me look at the checkbook-----
stay safe
Joe

[Anonymous]

QUOTE: Originally posted by JoeKoh

hmmm its been awhile maybe i can convice mamma to go shopping while I check it out.I'll check out my friends in Garret to.Let me look at the checkbook-----
stay safe
Joe

The daytime traffic on the old wabash has really slacked off from what it was this past summer, but from about 6:30PM to 2:00 am its pretty constant, train after train, seems like next to nothing on the old Pennsey, and the Old NKP seems to be hopping some afternoons and evenings, but then other days you can stand and wait, and wait and Wait. (FYI)

[JoeKoh]

thanks I'll keep that in mind.
stay safe
Joe

[ValleyX]

The CSX line in Fort Wayne will stay CSX. When NS and CSX divided up Conrail, they designated their portions with the PRR and NYC monickers, regardless of heritage. Although it is occasionally rumored that NS would like to acquire the PRR east of Fort Wayne, don't really expect to ever see it, think it's more of a railfan dream than any realistic expectation. Traffic is sparse east of the Fort, locals and occasional grain.