Oversight Hearing on the STB's Moratorium on Major Rail Mergers and 15-month Rulemaking Proceedings on Future Mergers: Hearing Before the Subcommittee on Surface Transportation and Merchant Marine of the Committee on Commerce, Science, and Transportation, United States Senate, One Hundred Sixth Congress, Second Session, March 23, 2000 |
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... Rail Equity , Washington , DC , letter dated March 31 , 2000 , to Hon . Kay Bailey Hutchison Davidson , Richard K ... Canadian National Railway Company , prepared statement 48 Response to written questions submitted by Hon . John F ...
... Rail Equity , Washington , DC , letter dated March 31 , 2000 , to Hon . Kay Bailey Hutchison Davidson , Richard K ... Canadian National Railway Company , prepared statement 48 Response to written questions submitted by Hon . John F ...
Page 7
... rail mergers and the poor financial status of the stock of railroad companies , I think it is important to review the landscape from a broader perspective . In December , the Canadian National Railway Company ( CN ) and the Burlington ...
... rail mergers and the poor financial status of the stock of railroad companies , I think it is important to review the landscape from a broader perspective . In December , the Canadian National Railway Company ( CN ) and the Burlington ...
Page 8
... Railway ( BNSF ) and Canadian National ( CN ) intended to file an application , on or shortly after March 20 , 2000 , seeking Board approval to bring their railroad systems under common control . Given the aggressive consolidation and ...
... Railway ( BNSF ) and Canadian National ( CN ) intended to file an application , on or shortly after March 20 , 2000 , seeking Board approval to bring their railroad systems under common control . Given the aggressive consolidation and ...
Page 9
... CN and the carriers that compete with them ; it could irreparably damage the entire industry , to the detriment of the inter- ests of shippers , rail employees , and the national economy and defense . Thus , in the March 17 decision ...
... CN and the carriers that compete with them ; it could irreparably damage the entire industry , to the detriment of the inter- ests of shippers , rail employees , and the national economy and defense . Thus , in the March 17 decision ...
Page 10
... Railroad Company ) is affiliated with CP . A fourth smaller U.S. Class I railroad ( The Kansas City Southern Railway Company ( KCS ) ) remains independent but has entered into a comprehensive alliance with CN and IC . 3 Canadian National ...
... Railroad Company ) is affiliated with CP . A fourth smaller U.S. Class I railroad ( The Kansas City Southern Railway Company ( KCS ) ) remains independent but has entered into a comprehensive alliance with CN and IC . 3 Canadian National ...
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Common terms and phrases
15 months 15-month moratorium action believe benefits BNSF and CN BNSF/CN merger Board's decision Burlington Northern Santa Canadian National Railway captive shippers Chairman Morgan Class I railroads CN/BNSF Committee concerns CONGR CONGRESS THE LIBRARY Conrail consider cost CSX Transportation economic filed future mergers GM's hearing impact issues KAY BAILEY HUTCHISON LIBRARY OF CONGRESS Linda Morgan Madam Chairman major rail consolidations major railroad March 17 decision merger activity merger applications merger policy merger rules Northern Santa Fe PREPARED STATEMENT public interest rail carriers rail customers rail employees rail industry rail mergers rail policy rail sector rail service rail system rail transportation railroad industry railroad mergers RARY regulatory round of mergers rulemaking proceeding Senator DORGAN Senator HUTCHISON Senator ROCKEFELLER service disruptions service problems Staggers Act STB Ex STB's Surface Transportation Board testimony Thank tion traffic transaction truck U.S. SENATOR United Parcel Service vehicles
Popular passages
Page 15 - No filings relating to such a transaction will be accepted for 15 months. 2. This decision is effective on the date of service. By the Board, Chairman Morgan, Vice Chairman Burkes, and Commissioner Clyburn.
Page 8 - STATEMENT OF HON. LINDA J. MORGAN, CHAIRMAN, SURFACE TRANSPORTATION BOARD Ms. MORGAN. Thank you very much, Madam Chairman.
Page 13 - ... yet none of the parties would know what they would be expected to show until new rules are formulated. And then, at the end, once the rules are known, it is not only possible, but quite likely, that the merger process would have to start all over again. Thus, while BNSF and CN may see some benefit to themselves from such a procedure, the process would be inherently uncertain, could lead to substantial instability in the industry, and thus does not represent good government.
Page 49 - Nine parties filed notices of appeal with the US Court of Appeals for the District of Columbia Circuit challenging the information services portion of the March 7, 1988 Order.
Page 10 - USC 10101, which guides us in our regulatory activities, directs us, among other things, to promote safety, efficiency, good working conditions, an economically sound and competitive rail transportation system, and the needs of the public and the national defense.
Page 13 - ... cramdown'; and the international trade and foreign control issues that would be raised by any CN or CP proposal to combine with any large US railroad.
Page 45 - It is hard to believe that a federal agency can change the rules and deny us a forum, established by law, to have our case heard.
Page 36 - I carriers — should be considered without system-wide changes to rail policy that would address what has now become an extensive record of customer complaints and widespread dissatisfaction.
Page 33 - GM ships approximately 24,000 vehicles a day — including the first day following any rail merger — and it cannot willingly accept years of disruption and uncertainty in order to reap the promise of long-term benefits of rail consolidations.
Page 30 - Disruptions across the entire rail system from any such mega-mergers will be innumerably worse than anything yet experienced.