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11/7/2002
Rail News: Rail Industry Trends
STB: Conrail merger posing no problems, but oversight will press on
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Concluding the third annual round of its Conrail-merger general oversight, Surface Transportation Board Nov. 6 announced that service problems haven't recurred, imposed conditions are working as intended, and there are no competitive or market-power problems.
The board also determined that CSX Transportation and Norfolk Southern Railway have substantially implemented various environmental conditions, and that the Conrail transaction is mostly complete.
However, STB officials noted that "the Conrail merger was, perhaps, the most complicated railroad-merger transaction in American history, and that certain parties still have concerns about its future course," according to a prepared statement.
Therefore, STB ruled that oversight will continue with some adjustments. For example, the board no longer will require CSX and NS to prepare and submit comprehensive progress reports annually.
For the fourth annual round of oversight, interested parties must file comments with STB by July 14; replies, by Aug. 4.
In its 1998 Conrail-merger decision, STB imposed several conditions on CSXT and NS, including a five-year general oversight process to enable the board to assess the merger's progress.
The board also determined that CSX Transportation and Norfolk Southern Railway have substantially implemented various environmental conditions, and that the Conrail transaction is mostly complete.
However, STB officials noted that "the Conrail merger was, perhaps, the most complicated railroad-merger transaction in American history, and that certain parties still have concerns about its future course," according to a prepared statement.
Therefore, STB ruled that oversight will continue with some adjustments. For example, the board no longer will require CSX and NS to prepare and submit comprehensive progress reports annually.
For the fourth annual round of oversight, interested parties must file comments with STB by July 14; replies, by Aug. 4.
In its 1998 Conrail-merger decision, STB imposed several conditions on CSXT and NS, including a five-year general oversight process to enable the board to assess the merger's progress.
