I just read William Vantuono's column in the current "Railway Age".
Accordiing to the column the STB is supposed to be a "transparent"
agency, yet they will not release the letters from freight shippers
that are protesting the CP/NS merger. Only Reuters is releaseing
anything. I wonder if the "fix" is in?
schlimm Or the retired accountant, who often rode sleeper on LD trains while saying they should all be eliminated. Very inconsistent. "A foolish consistency is the hobgoblin of little minds." Emerson would roll over in his grave if he could read this forum.
Or the retired accountant, who often rode sleeper on LD trains while saying they should all be eliminated. Very inconsistent.
Emerson would roll over in his grave if he could read this forum.
Rather, in context, Emerson seemed to be saying you don't hold bolder, further-ranging minds to dull consistency. (Not that I am elevating our retired accountant, if that's what she was, to that bolder status.)
dakotafred schlimm Or the retired accountant, who often rode sleeper on LD trains while saying they should all be eliminated. Very inconsistent. "A foolish consistency is the hobgoblin of little minds." Emerson would roll over in his grave if he could read this forum. Rather, in context, Emerson seemed to be saying you don't hold bolder, further-ranging minds to dull consistency. (Not that I am elevating our retired accountant, if that's what she was, to that bolder status.)
- variously attributed to economists John Maynard Keynes and Paul Samuelson; see:
http://quoteinvestigator.com/2011/07/22/keynes-change-mind/
- Paul North.
Paul_D_North_Jr dakotafred schlimm Or the retired accountant, who often rode sleeper on LD trains while saying they should all be eliminated. Very inconsistent. "A foolish consistency is the hobgoblin of little minds." Emerson would roll over in his grave if he could read this forum. Rather, in context, Emerson seemed to be saying you don't hold bolder, further-ranging minds to dull consistency. (Not that I am elevating our retired accountant, if that's what she was, to that bolder status.) "When the Facts Change, I Change My Mind. What Do You Do, Sir?" - variously attributed to economists John Maynard Keynes and Paul Samuelson; see: http://quoteinvestigator.com/2011/07/22/keynes-change-mind/ - Paul North.
"When the Facts Change, I Change My Mind. What Do You Do, Sir?"
I was, of course, referring to consistency in the sense of congruence between cognitions and behaviors, aka cognitive dissonance, aka hypocrisy.
C&NW, CA&E, MILW, CGW and IC fan
The stock market looks like it's in a "free fall," Raymond James strategist Jeffrey Saut said Thursday as global stock markets were sinking after a second circuit-breaker trading suspension in Chinese equities this week.
http://finance.yahoo.com/news/saut-long-stock-selling-stampede-131401990.html
Financial markets are currently in turmoil.
What affect, if any, could this have on Ackerman bankrolling CP merging with NS?
As the market slumps, so does NSC stock, which is down from $97.56 on Nov. 20 to 78.13 today, almost a 20% decline. What impact that has on a takeover is uncertain.
schlimm Maybe the merger is good, maybe not, but it seems sad to have the NS (and all its predecessor lines) taken over by a foreign railroad.
Maybe the merger is good, maybe not, but it seems sad to have the NS (and all its predecessor lines) taken over by a foreign railroad.
The STB is aware of a recent offer by Canadian Pacific Railway (CP) to merge with Norfolk Southern Railway (NS). A number of stakeholders have submitted correspondence to the STB about this offer, including members of Congress, State and local officials, shippers, and members of the public.
At this time, there is no proceeding before the agency related to a merger of CP and NS.
The Surface Transportation Board has posted letters received concerning the CP and NS merger.
https://www.stb.dot.gov/stb/docs/MergerLetters/PAD%20MEC%20Letter%20to%20STB%20re%20NS%20takeover%20by%20CP%20%2801.06.16%29.pdf
CP white paper = all fluff, no stuff.
BTW mid Dec 2015 vs 4th Qtr 2015, NS train speed up 23%, dwell down 31%. The only number in CP's white paper...NS beat them.
-Don (Random stuff, mostly about trains - what else? http://blerfblog.blogspot.com/)
To summarize what we know so far:
NS doesn't want the merger.
UP doesn't want ANY merger.
BNSF says they will react with merger if CP NS goes through.
Several shipper groups are pubically against NS/CP
Several polititicians are publically against NS/CP
At least one large RR union is publically against NS/CP
No one, except CP is publically for CP/NS.
NS stock has dropped back to and below CP' "baseline value" for NS which indicates Wall St. believes the chances of merger are less than slim.
CP has not presented any quanitative analysis of value creation except to say they will get NS to be average North American RR. (N.B. nice that they avg the western roads into this benchmarking...)
It seems while NS has spent their time building a coalition of allies, CP has spent their time writing a fluffy white paper.
oltmannd To summarize what we know so far: NS doesn't want the merger. UP doesn't want ANY merger. BNSF says they will react with merger if CP NS goes through. Several shipper groups are pubically against NS/CP Several polititicians are publically against NS/CP At least one large RR union is publically against NS/CP No one, except CP is publically for CP/NS. NS stock has dropped back to and below CP' "baseline value" for NS which indicates Wall St. believes the chances of merger are less than slim. CP has not presented any quanitative analysis of value creation except to say they will get NS to be average North American RR. (N.B. nice that they avg the western roads into this benchmarking...) It seems while NS has spent their time building a coalition of allies, CP has spent their time writing a fluffy white paper.
And Bill Ackman is not smiling.
Norm
"+1" to Don's post above.
There's a reason the "blue sky" laws were enacted to address bombastic claims such as this. Problem is, those laws don't prohibit such claims, but require that they be made in a document about the "securities" (stocks and bonds) which are filed / "registered" with the government agency overseeing such matters.
Paul_D_North_Jr "+1" to Don's post above. There's a reason the "blue sky" laws were enacted to address bombastic claims such as this. Problem is, those laws don't prohibit such claims, but require that they be made in a document about the "securities" (stocks and bonds) which are filed / "registered" with the government agency overseeing such matters. - Paul North.
Too bad we can't get 'blue sky' laws applied to political campaign speeches!
Never too old to have a happy childhood!
Now you are referring to irrelevant laws (designed to protect against securities fraud) to semi-justify a back door censorship over corporate publicity (essentially a set of opinions) you dislike.
oltmannd BTW mid Dec 2015 vs 4th Qtr 2015, NS train speed up 23%, dwell down 31%.
BTW mid Dec 2015 vs 4th Qtr 2015, NS train speed up 23%, dwell down 31%.
It is amazing what happens to train speed when certain slow moving traffic dries up and MOW stops doing major work on the northern half of the system.
An "expensive model collector"
​​​Canadian Pacific (TSX:CP) (NYSE:CP) said today that it is surprised and disappointed by comments reportedly made by Union Pacific Corp.'s (UP) Chief Executive that UP is working behind the scenes with other railroads to support the status quo.....
http://www.cpr.ca/en/investors/cp-responds-to-comments-from-union-pacific-ceo
All quiet on the Western Front, Sept. 1939 - April, 1940 comes to mind.
A few pop shots were taken, but most of the missles flung were words. British bombers dropped propaganda leaflets on Germany. Dueling loud speakers blared at each other across the Maignot Line. Terms like, "Phoney War," and "Sitzkrieg" were applied to the fighting.
The CP - NS struggle has so far has been been visible as a duel of press releases and white papers.
Will the CP - NS stand off ever come to an artillery barrage of big bucks supporting an all out, over the top proxy assault?
Good response from HH. Fritz has forgotten that UP is itself the product of several large mergers. He should be looking to make his own deals.. maybe the UP should go after CSX or the NS. He's going to miss the boat if all he can do is poo poo HH's offer.
While the cruisers skirmish with their 6" guns, the "U.S.S. Texas" manuevers to bring its 14" guns to bear.....
Victrola1Will the CP - NS stand off ever come to an artillery barrage of big bucks supporting an all out, over the top proxy assault?
Perhaps. But then will come the Russian winter of the STB!
n012944 oltmannd BTW mid Dec 2015 vs 4th Qtr 2015, NS train speed up 23%, dwell down 31%. It is amazing what happens to train speed when certain slow moving traffic dries up and MOW stops doing major work on the northern half of the system.
My point was CP's touting of EHH's velocity and dwell improvements at CP are really pretty hollow without context. You are providing some context for NS's numbers. Where's the context for CP's? They aren't providing any (except to say it doesn't include some "bad weather" periods - of their choosing.)
Norm48327 oltmannd To summarize what we know so far: NS doesn't want the merger. UP doesn't want ANY merger. BNSF says they will react with merger if CP NS goes through. Several shipper groups are pubically against NS/CP Several polititicians are publically against NS/CP At least one large RR union is publically against NS/CP No one, except CP is publically for CP/NS. NS stock has dropped back to and below CP' "baseline value" for NS which indicates Wall St. believes the chances of merger are less than slim. CP has not presented any quanitative analysis of value creation except to say they will get NS to be average North American RR. (N.B. nice that they avg the western roads into this benchmarking...) It seems while NS has spent their time building a coalition of allies, CP has spent their time writing a fluffy white paper. And Bill Ackman is not smiling.
Best they could do today is call UP's Fritz a hypocrite. Stay classy CP!
oltmannd Norm48327 oltmannd To summarize what we know so far: NS doesn't want the merger. UP doesn't want ANY merger. BNSF says they will react with merger if CP NS goes through. Several shipper groups are pubically against NS/CP Several polititicians are publically against NS/CP At least one large RR union is publically against NS/CP No one, except CP is publically for CP/NS. NS stock has dropped back to and below CP' "baseline value" for NS which indicates Wall St. believes the chances of merger are less than slim. CP has not presented any quanitative analysis of value creation except to say they will get NS to be average North American RR. (N.B. nice that they avg the western roads into this benchmarking...) It seems while NS has spent their time building a coalition of allies, CP has spent their time writing a fluffy white paper. And Bill Ackman is not smiling. Best they could do today is call UP's Fritz a hypocrite. Stay classy CP!
Get accurate.
#1 The CP did not call Mr. Fritz a hypocrite. It simply showed how previous statements made by Mr. Fritz were at variance with what he says about CP-NS.
#2 By way of full disclosure, you should indicate that as an NS employee, your statements may be less than objective.
From Trains News Wire 01/14/16
CHICAGO — Speaking at the Midwest Association of Rail Shippers meeting in suburban Chicago, BNSF Railway Executive Chairman Matt Rose tells attendees that "there are enormous benefits of merger" for the industry."I think Chicago would be benefited from transcontinental mergers," he says, speaking of industry consolidation in general, not about any one specific proposal. "This is a really interesting opportunity."I'm not at all afraid of mergers," he adds.
Regarding the proposed combination of Canadian Pacific and Norfolk Southern, Rose says that BNSF will participate in the Surface Transportation Board's merger proceedings and seek input from its customers regarding the railroad's own actions.
Might we be working up to the Berkshire, Nebraska & San Fernando transcontinental railway system?
schlimm#1 The CP did not call Mr. Fritz a hypocrite. It simply showed how previous statements made by Mr. Fritz were at variance with what he says about CP-NS.
Sounds like a PC way of saying "hypocrite" to me!
schlimm#2 By way of full disclosure, you should indicate that as an NS employee, your statements may be less than objective.
Perhaps, but a heck of a lot more knowledgible about NS than those who aren't.
Full disclosure has long been taken care of. It's all in my blog. See link with signature.
oltmanndoltmannd wrote the following post 1 hours ago: schlimm #1 The CP did not call Mr. Fritz a hypocrite. It simply showed how previous statements made by Mr. Fritz were at variance with what he says about CP-NS. Sounds like a PC way of saying "hypocrite" to me!
So if someone makes a factually accurate statement (with quotations) that you don't like, it is dismissed as PC? Irresponsible nonsense, Don!
And, the FRA gets on the "anti" bus...
http://www.wsj.com/articles/regulator-to-scrutinize-significant-safety-hurdles-from-major-railroad-mergers-1452880461
schlimm oltmannd oltmannd wrote the following post 1 hours ago: schlimm #1 The CP did not call Mr. Fritz a hypocrite. It simply showed how previous statements made by Mr. Fritz were at variance with what he says about CP-NS. Sounds like a PC way of saying "hypocrite" to me! So if someone makes a factually accurate statement (with quotations) that you don't like, it is dismissed as PC? Irresponsible nonsense, Don!
oltmannd oltmannd wrote the following post 1 hours ago: schlimm #1 The CP did not call Mr. Fritz a hypocrite. It simply showed how previous statements made by Mr. Fritz were at variance with what he says about CP-NS. Sounds like a PC way of saying "hypocrite" to me!
If someone says, "That guy often says things that just aren't very true." wouldn't it be fair to paraphase as "That guy is a liar."?
oltmannd schlimm oltmannd oltmannd wrote the following post 1 hours ago: schlimm #1 The CP did not call Mr. Fritz a hypocrite. It simply showed how previous statements made by Mr. Fritz were at variance with what he says about CP-NS. Sounds like a PC way of saying "hypocrite" to me! So if someone makes a factually accurate statement (with quotations) that you don't like, it is dismissed as PC? Irresponsible nonsense, Don! If someone says, "That guy often says things that just aren't very true." wouldn't it be fair to paraphase as "That guy is a liar."?
Your roots are showing! Not analogous to the CP comment on Fritz at all.
Here are some of the sort of comparative metrics business people and investors look at in an evaluation of any enterprise. The differences tell the story.
for CP (through Sep 30):
for NS(through Sep 30):
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