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The real truth behind the SPSF merger is quite simple,there would be NO competition from other railroads.Conrail and the UP were against it,though Conrail NEVER had talks with the SP. The Santa Fe was loosing alot of money,and needed a partner to help them out.In 1983 the Santa Fe and the SP had renewed their talks and decided to start a new company called SPSF CORP. Sp had VERY valuable assests in real estate,oil, and communications. S. California was a " country club" to both railroads,and in the eyes of SP president Biaggini,he suggested that the ICC " owed us one".In July 1986,it was denied,due to it being anti-competitive.In Sept.1987,it was ordered that the SF divested itself of the SP railroad. Phil Anschutz,owner of the DRGW through his fortunes in oil,was a big opponent of the SPSF merger,and since he was the president of the DRGW,he was interested in the SP,despite unsuccessful talks to merge with the KCS. With large loans from New York banking houses,and a large dose of junk bonds,he got the SP, Though he did have to sell off large quantities of railroad properties in a short time.He used very little of his own capitol. All this info was found in books called "Railroad Mergers" by the Simmons-Boardman publishing company,and "SPSF 1986-1987 MOTIVE POWER REVIEW, by Joseph W. Shine,and my own observations on what I was told,read, and given in official documents by former Santa Fe and SP employees,while living in S.California for 10 years from 1984-1994.They are very interesting books, and you'd be amazed at what REALLY went on behind the closed doors at the merger talks. As for the BN and the Santa Fe,take the same senario and put BN where the SP was and exclude the rest of what has been written.[:)]
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