Short Line/Regional – Page 16

CN, Schererville, Ind., Agree on Mitigation Plan for EJ&E Transaction

December 19, 2008 Railfanning.org News Wire

CHICAGO — CN announced an agreement with the Town of Schererville, Ind., located 28 miles south of Chicago, that would mitigate the impact on the community of CN’s proposed acquisition of the principal lines of the Elgin, Joliet & Eastern Railway Company (EJ&E). Under the agreement, CN will assist in the creation and maintenance of quiet zones in Schererville, and take various steps to improve train operations, communications, and emergency preparedness in the municipality. The agreement is contingent upon regulatory approval of CN’s proposed acquisition of the EJ&E. The transaction is being reviewed by the Surface Transportation Board (STB), which

BNSF Honors Three Shortline Railroads for Partnership Excellence

December 2, 2008 Railfanning.org News Wire

FORT WORTH, Texas — The Columbia Basin Railroad (CBRW), Louisiana & Delta Railroad (L&D) and the Texas Northwestern Railway (TXNW) each received a BNSF Shortline Achievement Award at this year’s 13th Annual Shortline Conference. “BNSF is pleased to honor these shortline railroads for their ability to provide intense customer focus, resourcefulness, operational flexibility, and a local presence in their communities,” said Pete Rickershauser, BNSF vice president, Network Development. “These shortlines have gone beyond our expectations to build new business for our railroads and new service products for our shared customers. We see their roles expanding in the future as they

FRA Announces Disaster Relief Funding for Small Railroads

November 26, 2008 Railfanning.org News Wire

WASHINGTON — The Federal Railroad Administration is accepting applications from states for $20 million in grant funding to help small Class II and Class III railroads that sustained infrastructure damage as a result of recent natural disasters. Under the Railroad Rehabilitation and Repair Grant Program, federal grant funds may be used to repair and rehabilitate damage to railroad infrastructure sustained due to hurricanes, floods, and similar events in counties declared to be major disasters by the President from Jan. 1 to Nov. 6. Among the possible uses of the funds are restoration of railroad rights-of-way, bridges, and signals. Prospective grantees

STB Sets CORP Sale Price

November 20, 2008 Railfanning.org News Wire

WASHINGTON — The Surface Transportation Board announced it has established $16.6 million as the purchase price of the Central Oregon & Pacific Railroad Inc.’s (CORP) 111-mile railroad line, running from Danebo to Cordes, Ore. In a prior decision, the Board had ordered CORP to sell the line to the Oregon International Port of Coos Bay. The Board-established figure is approximately $2.9 million less than the $19.5 million that the Port testified it had available for the Line’s purchase. The Port must decide by Dec. 1 whether to accept the terms of sale established by the Board’s decision. If the Port

DM&E Joins CP Holiday Train in a Decade of Giving

November 10, 2008 Railfanning.org News Wire

MINNEAPOLIS — Food banks in more than 100 North American communities will be front and center when Canadian Pacific’s tenth annual Holiday Train gets underway. A brightly decorated CP train will collect food and money for local food banks, raise awareness in the fight against hunger and, help communities across CP’s newly expanded network celebrate the holiday season. “The Holiday Train is North America’s largest rolling fundraiser and a cherished tradition for our employees and the communities where we operate,” said CP President and CEO Fred Green. “We’re especially pleased to welcome employees and communities throughout our newly acquired DM&E

STB: CORP Must Sell Line

October 31, 2008 Railfanning.org News Wire

WASHINGTON – The Surface Transportation Board has ordered the Central Oregon & Pacific Railroad Inc. (CORP) to sell a 111-mile railroad line running from Danebo, Ore., to Cordes, Ore., to The Oregon International Port of Coos Bay. In a separate decision, the Board granted CORP authority to abandon a 94-mile segment of the Line in the event that a sale of the Line is not completed. In reaching its decision, the STB found that the Line meets the five “public convenience and necessity” criteria for a forced sale under the “feeder line” provision of the agency’s statute enabling shippers and

DM&E Railroad Sees Management Change

October 7, 2008 Railfanning.org News Wire

CALGARY — Richard Hamlin, Trustee for CP’s acquisition of the DM&E announced some changes to DM&E’s senior management team, which come shortly after CP said it is buying the regional railroad. Effective immediately, Kevin Schieffer, President and CEO, has left the company to pursue other opportunities. Ed Terbell, Chief Operating Officer, and Kurt Feaster, Chief Financial Officer, will manage the day to day operations of the railway while the DM&E remains in trust. “Messrs. Feaster and Terbell and the management team have been strong performers in managing the DM&E, and its subsidiaries: Iowa, Chicago & Eastern Railroad and Cedar American

Genesee & Wyoming Completes Acquisition of Ohio Central Railroad System

October 1, 2008 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. has completed its acquisition of 10 short line railroads known as the Ohio Central Railroad System (OCR) for $234.3 million in cash, subject to adjustment for final working capital. The cash purchase price includes $7.5 million of contingent consideration that GWI has placed into escrow, which will be paid to the seller upon satisfaction of certain conditions. OCR has more than 170 employees, operates over 445 miles of track and owns 64 locomotives. The railroads handle approximately 140,000 annual carloads, primarily in the coal, steel and solid waste industries. GWI financed the cash

Genesee & Wyoming Acquires Georgia Southwestern Railroad

October 1, 2008 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. has acquired the Georgia Southwestern Railroad, Inc. for cash consideration of approximately $16.5 million and the assumption of $5.4 million in debt, subject to adjustment for final working capital. Headquartered in Dawson, Ga., the Georgia Southwestern operates over 220 miles of track between White Oak, Ala., and Smithville, Ga.; Cuthbert, Ga., and Bainbridge, Ga. and in and around Columbus, Ga. The Georgia Southwestern connects to GWI’s Chattahoochee Industrial Railroad in Saffold, Ga., via trackage rights. The Georgia Southwestern has 20 employees and 10 locomotives and carries approximately 10,000 carloads per year, primarily serving

STB Approves CP’s DM&E Purchase

September 30, 2008 Railfanning.org News Wire

WASHINGTON — The Surface Transportation Board approved Canadian Pacific Railway Limited’s plan to buy the Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries: Iowa, Chicago & Eastern Railroad and Cedar American Rail Holdings. The official effective date of the final decision is Oct. 30. “The DM&E is an excellent fit for Canadian Pacific making this a strategic end-to-end addition to our network,” said Fred Green, President and Chief Executive Officer of CP. “This is also a positive development for CP, DM&E and IC&E customers. CP customers will have direct single line access to the Midwest US markets and the