If being a UNP shareholder precludes you from using your brain, or turns you into a cheerleading putz, that's your issue. It doesn't affect me that way.
For the CEO of UNP to opine on the lack of merit to any rail merger ----- the current regulatory environment for which was absolutely poisoned by both UNP and BNSF with their 2 merger DEBACLES in the mid 90s... well, that's just huge, oblivious gonads right there.
So you think making less money is simply your intractable fate then.
Good for you. And great for the boobs who run your railway.
No acquisition is ever "turn key"...posting that undermines any credibility you might otherwise have.
As far as the "disinformation" comment goes: He was the one who called a conf. call of his own volition, primarily to counter the rumours the disinformation that could arise given the leak by CSX, and to make his case for the need for a solution to a pending crisis. To think it included any deceit, was a political move, a negotiating ploy, or a strategy is patently ridiculous.
To a fault, Hunter says exactly what he thinks. Ask the unions.
Wow! And I presumed he was vehemently against the idea.
And thanks for a headline without any link or source attribution.
For every dollar of revenue that both NSC and CSX generate, they report an operating profit that is a full 10 cents lower than CP. 30 cents per dollar for NSC or CSX, versus 40 cents (and growing ) for CP.
10 cents on top of 30 is 33% more....just being wasted. Every day.
The CEOs of both of the worst-performing U.S. Class 1 railroads.....and the obvious takeover targets in any consolidation....have both come out with formal statements saying they are against any mergers or takeovers.
Hunh. For a couple of putzes that can't even figure out how to run their own railroads, they sure seem confident that they know what's best for the industry. And for their long-suffering, financially-deprived shareholders.
Maybe politics is more their calling.....because business sure isn't.
1) At the very outset, Hunter said "there are no secrets"...a clear jab at whoever (!!) leaked the news to the media.
2) 3 or 4 meetings took place between reps. of CP and CSX
3) no formal offer was discussed or made
4) "fascinating conversations" fell apart when it became clear that "we saw the world differently"
5) CP has no intention of going hostile. Need "willing partners" on both sides. [In Q&A, Hunter did acknowledge that "money talks" in influencing whether deals are characterized as hostile or not.]
6) CSX is only a slightly more attractive merger partner than NSC; either would be suitable.
7) CP would consider a deal where it is either a buyer OR a seller.
8) Any combined management team would be comprised of the best talent from both sides.
9) Class 1 mergers of the early 90s were poorly executed because they were transacted in an environment of industry weakness, out of financial desperation, with no implementation planning.
10) Chicago is the most important pinch point / bottleneck for rail traffic right now and will only get worse. CREATE has been a financial black hole, and industry members are now beginning to admit its failure & limitations. Having some traffic bypass Chicago altogether is the easiest, cheapest solution.
I hang on Hunter Harrison's every word...never miss a speech or a conference call. I'll be the first one in line for a copy of his memoirs.
But I simply cannot listen to Mongeau and his cronies. Too much corporate non-speak and PR gobbleydegook.
How smart are you NSC shareholders? Notwithstanding the "over-arching issues".... If an opportunity to lock up the industry-best team and operating model, and the most streamlined, efficient assets amd route to the west coast (aka China) were to present itself at your feet ...... would you all be both greedy and smart enough to seize on it?
I ask this because the management of your competitor eastern railroad is self-absorbed and as dumb as a bag of rocks.
Bit sadly, this is exactly the kind of issue that would prevent the right and best thing from ever getting done. Ego-centric BS.
Good 'til cancelled...the style of the shrewd trader.
Think you'll get rid of the whole stockpile?
Yeah, I know. It's like guys swearing to God that they'll give up screwing around on their wife if He just makes this pregnancy test negative....