Page 1 of 4 123 ... LastLast
Results 1 to 10 of 31
  1. #1
    Join Date
    Feb 2001
    Location
    Auburn,Ca
    Age
    42
    Posts
    3,287
    Blog Entries
    155

    Post For sale: DM&E RR...

    FOR SALE: DM&E RAILROAD

    ROCHESTER, MN -- A sale announcement may be coming soon from the Dakota, Minnesota & Eastern Railroad, a rail industry magazine reports.

    Trains magazine, in a report posted to its Web site on Tuesday, said that DM&E's parent company, Cedar American Rail Holdings, is accepting bids from about 10 bidders. The bidders are finalizing their offers this week, the magazine reported.

    Among the bidders are three railroad companies: Canadian National, Canadian Pacific and a shortline railroad company that was not named.

    Cedar American Rail Holdings owns both the DM&E and Iowa, Chicago & Eastern railroads, which together make up a 2,000-mile-plus railroad system.

    DM&E was denied on Feb. 26 in its application for a $2.3 billion federal loan.

    Selling all or some of its assets is apparently how the company plans to finance a $6 billion upgrade and expansion project that would extend DM&E's reach from near Winona to Wyoming coal fields. The project would create the most direct rail route from the Powder River Basin to the Upper Midwest.

    The line passes through Rochester, Minnesota, whose leaders have objected to the project over fears that coal-train traffic would hurt the city.

    DM&E President and CEO Kevin Schieffer could not immediately be reached.

    According to Trains, however, Schieffer said last week in a letter to employees that "in the coming weeks, we will have potential investors and possible partners on the property."

    The railroad has federal approval for the expansion. A question is whether regulators' green light is transferable to a new owner.

    Rochester officials became aware of the magazine report this morning, said Mayo Clinic and Rochester Coalition spokesman Chris Gade.

    "Regardless of who owns the DM&E, our goals and issues will remain the same," Gade said. "We want to be sure the safety needs of our patients, staff and community are met and met in a substantial and meaningful way." - Jeffrey Pieters, The Rochester Post-Bulletin
    John Barnhill
    'Amatuer Ferroequinearcheologist'
    I'm not a photographer, just a photo documenter.
    Foothill Rails
    Nor-Cal Union Pacific Connection
    Southern Pacific Rio Grande Connection
    My Photos On Flickr

  2. #2
    Join Date
    Nov 2006
    Location
    Black Hawk, SD
    Posts
    28
    Not to be overcritical but DME is a Class II railroad.

    http://en.wikipedia.org/wiki/Dakota%2C_Minnesota_and_Eastern_Railroad
    Jeff Woods

    Bad Spellers of the world Untie!!!!

  3. #3
    Join Date
    Feb 2002
    Location
    Northwest Montana
    Age
    63
    Posts
    45,207
    Blog Entries
    46
    Hmmm. Curious that CP might be in the picture. After parting with what is now the IC&E, to possibly have it back? Well, following how the pieces come together on this possibility, could be interesting.

    Boxcab E50
    **********
    Books & More For Sale: http://www.train-orders.com/RLD.html N Scale For Sale: http://www.train-orders.com/NFS.html


    Railroadiana, RR photos & more- Please visit my TRAIN ORDERS web site!
    "If it ain't broke, you're not trying!" "The handyman's secret weapon- Duct Tape!" (Red Green)
    - (#1,10,11,15)-
    (GEC-ES #12, 18, 25, 51, 55, 64, 67 ,68, 79, 89, 90, 93, 110, 119, 127, 132, 136, 138, 144)
    Do you issue Model Railroad passes? Let's trade!

  4. #4
    Join Date
    Jan 2002
    Location
    Roseville, Ca
    Age
    39
    Posts
    4,627
    Blog Entries
    7
    I have no doubt that CP and CN are drooling over the possibility of access to Powder River. Those companies also make the entire thing look more doable.

  5. #5
    Join Date
    Nov 2006
    Location
    Black Hawk, SD
    Posts
    28
    Jeff Woods

    Bad Spellers of the world Untie!!!!

  6. #6
    Join Date
    Feb 2001
    Location
    Auburn,Ca
    Age
    42
    Posts
    3,287
    Blog Entries
    155

    Talking

    Quote Originally Posted by jwoods View Post
    Not to be overcritical but DME is a Class II railroad.

    http://en.wikipedia.org/wiki/Dakota%...stern_Railroad
    I kinda thought so but posted it in shortlines anyhows. :D :D
    John Barnhill
    'Amatuer Ferroequinearcheologist'
    I'm not a photographer, just a photo documenter.
    Foothill Rails
    Nor-Cal Union Pacific Connection
    Southern Pacific Rio Grande Connection
    My Photos On Flickr

  7. #7
    Join Date
    Aug 2005
    Location
    Bertram, TX
    Age
    23
    Posts
    983
    Blog Entries
    2
    They must really want Powder River Basin access...
    Modeling the Missouri Pacific: Austin Subdivision in 1950: The last years of steam. Too bad there wasn't anything bigger than a Berkshire...

    My Website

    Teen Association of Model Railroaders: Southern Region Representative | Austin & Texas Central - Car Attendant Trainee

  8. #8
    Join Date
    Mar 2000
    Location
    Sydney, NSW, Australia
    Age
    51
    Posts
    4,331
    Blog Entries
    8
    Quote Originally Posted by Matthew Roberts View Post
    They must really want Powder River Basin access...
    Who wouldn't? There's plenty of money to be had shipping Powder River coal, particularly since the introduction of stricter emission laws.

    When BN developed the line they were forced into sharing with CN&W by the then ICC, which in turn made them very attractive to UP. Another player with better (read more direct) access would certainly upset the apple cart of BNSF and UP. Only problem with another would be line access and possibly capacity.

    With CN or CP involved, they may have the funds available to build the extension west, which has been a sticking point for the DM&E since they proposed the line, and to build additional trackage to access mines.
    Gary A. Rose
    gats@trainboard.com - TrainBoard Administrator
    Subscribe to RailImages and receive a FREE custom avatar built to your specs!

    :email: Click here to Contact Us :computer: TrainBoard LIVE - see it in action!
    :present: Visit TrainStore Want a Better Browser?

  9. #9
    Join Date
    Feb 2002
    Location
    Northwest Montana
    Age
    63
    Posts
    45,207
    Blog Entries
    46

    Talking

    Quote Originally Posted by John Barnhill View Post
    I kinda thought so but posted it in shortlines anyhows. :D :D
    Just for fun, and to confuse everyone, I've moved the thread! :omg:

    Boxcab E50
    **********
    Books & More For Sale: http://www.train-orders.com/RLD.html N Scale For Sale: http://www.train-orders.com/NFS.html


    Railroadiana, RR photos & more- Please visit my TRAIN ORDERS web site!
    "If it ain't broke, you're not trying!" "The handyman's secret weapon- Duct Tape!" (Red Green)
    - (#1,10,11,15)-
    (GEC-ES #12, 18, 25, 51, 55, 64, 67 ,68, 79, 89, 90, 93, 110, 119, 127, 132, 136, 138, 144)
    Do you issue Model Railroad passes? Let's trade!

  10. #10
    Join Date
    Feb 2001
    Location
    Auburn,Ca
    Age
    42
    Posts
    3,287
    Blog Entries
    155
    :D :D :D :D
    John Barnhill
    'Amatuer Ferroequinearcheologist'
    I'm not a photographer, just a photo documenter.
    Foothill Rails
    Nor-Cal Union Pacific Connection
    Southern Pacific Rio Grande Connection
    My Photos On Flickr

Similar Threads

  1. Judge appointed to hear DM&E eminent domain case
    By LadySunshine in forum Class II & Class III Railroads
    Replies: 1
    Last Post: March 22nd, 2007, 10:18 PM
  2. Question about DM&E expanding into Wyoming.
    By WildBill in forum Class II & Class III Railroads
    Replies: 3
    Last Post: March 3rd, 2007, 12:26 PM
  3. DM&E - Any new progress toward the coal?
    By Comet in forum Class II & Class III Railroads
    Replies: 6
    Last Post: February 23rd, 2006, 03:00 AM
  4. DM&E buys IMRL
    By Dwightman in forum Class II & Class III Railroads
    Replies: 2
    Last Post: February 22nd, 2002, 10:42 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •