CSX CEO Jim Foote said he would not rule out a merger with another Class I railroad.
Union Pacific to merge with CSX. Been in works for awhile.
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No, a merger has not been “in the works” for awhile. I had 34 years with the railroad before I was cut off in 2018 and a merger was “in the works” every year. Stop dreaming. Even if they announced a merger tomorrow it would be years before any changes occurred.
And oh by the way it would not hurt UP if everyone sold their stock. Someone would buy it at market price so no harm done. And if the stock somehow dropped in massive proportions then they would just lay off more and sell assets to recover. Management would not suffer as they would unload their stock well before a drop like that. You have to remember you can’t hurt these guys. They are well insulated - they’re already millionaires.
The STB will allow anything if they get enough money, box seats, super bowl tickets, and enough high priced dining on the Heritage Fleet. A well-timed knob polish at the symphony goes a long way toward getting a merger through that club...
Sooo I guess it be now know as UPSX ? Sounds like fitting letters to call the new railroad!
Remember when Lance cried about CP NS merger? NTSB won't allow a merger.
So if the two merged who would be the controlling entity?
Amazon buy UP go straight to 100 starbase. Future rock on to Blue Origin galactic railroad. Beth is galactic admiral Jeff just his boss. Rock and Roll railroad future Hunter will never see. Sad.
I could see them trying but the STB would probably never allow it.
Old news, i read that quote last summer. CSX and UP just trying to increase their stock price, its called collusion. Illegal as hell.
Everyone that owns railroad stock should sell it and buy something else. Hit them where it hurts. That’s all they care about
Obviously that would be the best choice.
True story! Per Denver management!