Nov 2, 2020
OK. It's been a while. This one is probably easy.....
I should know that one, because I have been there. Unfortunately my brain has ceased to bring things out of memory.
glen yard joliet area
It is east of the Mississippi River. But not in Illinois.
Woop woop, it is Central Maine & Quebec Railway at Milo, Maine
Gotta admit that I've never heard of the railroad, nor the location.
It is the former Bangor & Aroostook RR.
Anyhow, Carsten found it.
Hmmm. I have never been there, but it sure looks familiar with the rails for moving cars or engines along sideways to position them for the shelter facility.
Ah ha! I once tried to figure out what happened to the B&M, MEC and, BAR and RUT lines I knew of and gave up. As Guilford arose to hose these, then morphed itself into PanAm, the rise and fall of additional operations under new owners has been bewildering. To add to it all, it was announced a few days ago that CSX wants to buy PanAm, which is surprising given that they already own the Boston & Albany's line and that NS has had a strong partnership with PanAm which includes significant investment in PanAm line improvements. The show goes on .....
Could this be the reason for now talking of such a purchase? Or could it have been done simply to create such a situation?
Can't be sure, but I'd bet that NS's investments are protected with some sort of equity in PanAm. It'll be interesting to see how it unfolds. Meanwhile, buyout talk is swirling around the KCS, with the road recently rejecting a Blackstone Group/Global Infrastructure Partners bid. Jim Cramer of CNBC suggested that an acquisition of KCS by the UP would make good sense.
U.S. railroads have come back strongly from the Covid selloff, handily outperforming the S&P and with solid dividend income as well. The chart below illustrates why KCS and UP managements are under some pressure, with CSX and NS outdistancing.