All articles tagged with #surface transportation board
President Donald Trump dismissed Democratic Surface Transportation Board member Robert Primus to break a tie on the approval of the largest railroad merger in U.S. history, raising concerns about political interference in independent agencies and the potential impact on rail industry competition and growth.
President Trump fired Surface Transportation Board member Robert Primus, who opposed a major railroad merger, raising concerns about regulatory influence on upcoming railroad mergers. Investors are reacting to potential changes in industry consolidation, with stock movements reflecting market expectations. The situation signals increased merger activity and regulatory shifts in the rail industry.
The White House abruptly fired Robert E. Primus, a Democrat and board member of the Surface Transportation Board responsible for approving railroad mergers, including one between Union Pacific and Norfolk Southern, without providing an explanation, leaving him surprised by the sudden termination.
President Trump fired Democrat rail regulator Robert Primus, who opposed major rail mergers, amid ongoing review of Union Pacific's proposed $85 billion merger with Norfolk Southern, raising concerns about political influence on transportation policy.
The White House has dismissed Robert Primus from the Surface Transportation Board amid efforts to exert greater control over independent agencies, as the board reviews a major railroad merger between Union Pacific and Norfolk Southern. This move is part of a broader pattern of the Trump administration removing officials who do not align with its agenda, raising concerns about independence and political influence in federal agencies.
The Surface Transportation Board has approved the merger of Canadian Pacific Railway and Kansas City Southern, creating a freight rail system linking North America. The deal is the first major rail merger in over two decades and will connect the United States, Mexico, and Canada, covering more than 20,000 miles of track. The board laid out conditions to protect competition and mitigate effects on communities, and the combined company will be called Canadian Pacific Kansas City. The merger is expected to foster growth of rail traffic, support passenger operations, and shift freight from highways to rail, ultimately resulting in greater safety and benefits to the environment.
The Surface Transportation Board has approved Canadian Pacific's acquisition of Kansas City Southern, creating the first railroad providing single-line service spanning Canada, the United States, and Mexico. The merger will shift about 64,000 truckloads a year to rail from the roads and add more than 800 new union operating positions in the United States. The deal is worth nearly $32 billion and is the first merger between two major railroads since the 1990s. The decision came amid mounting pressure to reject the deal, but the transportation board found that the merger would not reduce competition.