• CSX to acquire Pan Am Railways

  • Guilford Rail System changed its name to Pan Am Railways in 2006. Discussion relating to the current operations of the Boston & Maine, the Maine Central, and the Springfield Terminal railroads (as well as the Delaware & Hudson while it was under Guilford control until 1988). Official site can be found here: PANAMRAILWAYS.COM.
Guilford Rail System changed its name to Pan Am Railways in 2006. Discussion relating to the current operations of the Boston & Maine, the Maine Central, and the Springfield Terminal railroads (as well as the Delaware & Hudson while it was under Guilford control until 1988). Official site can be found here: PANAMRAILWAYS.COM.

Moderator: MEC407

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  by newpylong
 
Re: Fink Jr, that would go either way. I met him on several occasions when I was a mere ground pounder. He seemed more open than his old man (that doesn't take much), but there was still too much "Penn Central" thought processes going on for my liking. There have been several quotes since about how he believes the physical state of the railroad was "ideal", etc and so on. I think a clean slate of management is what is needed to get the place functioning properly.
  by Cosakita18
 
Isn't he the one who claims that a Class 2 / 25mph mainline is "good enough"?
  by newpylong
 
He actually said 10 is good for a lot of it.
  by Gilbert B Norman
 
Mr. Newpy, if FRA Class 1 (10mph) is good enough, according to Mr. Fink, Jr., then all I can envision is chopping up the system and what remains serving industries such as paper mills and forests for which"so long as it gets there, or, if it spills, you just sweep it up".

Forget any thoughts of handling containers off vessels at Saint John or Portland (or somebody mad at CP, so they get "shorthauled" Searsport to Brownville). Maine will become a "railroad wasteland" - and I don't think those of you around here from up that way want to see that come to pass.
  by fromway
 
How about this wild idea. What if the New Brunswick Empire made an offer for everything from Portland north and let everyone else fight over for the rest of the system. I know it sounds crazy, but who knows what could come of it.
  by MEC407
 
They're free to make an offer just like anyone else can (and maybe they have), but credible people on the inside have said that Mellon strongly prefers to sell the entire system to one buyer rather than sell it in pieces.
  by BandA
 
...so I *assume* Laurence D Fink of Blackrock is unrelated to David Fink Sr or Jr. But I don't know.
  by gokeefe
 
That's never come up in anything I've read.

Sent from my Pixel 2 XL using Tapatalk

  by Gilbert B Norman
 
Fromway wrote: How about this wild idea. What if the New Brunswick Empire made an offer for everything from Portland north...
Mr. Fromway, with your presumed reference to the United Empire Loyalists, you would appear to suggest that the Province make an offer to buy the former Maine Central. As Mr. MEC 407 suggests, I guess they could after formation of a US Corporation to effect the transaction.

But why?

MEC does not access Saint John; it must interchange with two Short Lines (CA and US) to have such. So, they'd have to be thrown in to the deal as well. And who says their owner, JD Irving, who uses them to handle timber from (apparently their own) Maine forests to their mills in St. John, from which much of the product is exported, would be receptive?

But why only Portland? if the Province's intent is to have DIRECT rail service for high value traffic (Beetles, Bennies, Bimmers, containers) from the Port to US Midwest markets they would need to acquire enough of the B&M so they could interchange with either PAS at Ayer or the B&A at Worcester.

Seems like "too tall an order" and in conflict with Timmy's apparent "all or nothing".
  by fromway
 
I should have been more exact in my language. I was referring to NMR(Irving).
  by Gilbert B Norman
 
OK, now that Mr. Fromway has clarified that point, short of acquiring enough of the B&M to reach Ayer and Worcester, why would JD Irving want to?

As noted earlier, Irving's interest in railroads post-Megantic, appears to be limited to moving timber to their mills.
  by backroadrails
 
Irving has a few companies on Pan Am (Irving in Dixfield which gets pine logs in the winter by rail). I believe they were in negotiations with Pan Am to operate to Enfield to serve Pleasant River once the new siding is completed (NBM is doing the trackwork for the siding as well). Not to mention the fact that they have switched the chipper at keag with EMR crews several times over the past year. I wouldn't say they are only interested in moving their own timber to mills, but yet again since the lease of MNR started, there hasn't been too many places they would be able to expand by purchasing more track. Although I haven't heard anything about a interest in Pan Am, they are heavily invested in other forms of transportation (Sunbury Trucking, as well as owning companies that do bulk commodity shipping, and I think they also own a tug boat and air freight company), it could be a possibility that they would want to expand the empire.
Last edited by MEC407 on Thu Oct 08, 2020 6:26 pm, edited 1 time in total. Reason: unnecessary quoting
  by Cosakita18
 
Irving has their fingers in pretty much every pie, and I'm sure they've been involved in this sale process from the beginning. Irving's #1 priority maybe ensuring that they can keep a tight grasp on refined product coming into Portland and Searsport.

I wouldn't be entirely surprised if they took an interest in parts of D1. They've been very proactive in keeping the 'keag line serviceable.
  by CN9634
 
They have no interest.

Refined product comes into those ports via the ocean, so not sure I understand your point there.

But again, they are not part of this sale in any way.
Last edited by MEC407 on Sat Oct 10, 2020 6:27 am, edited 1 time in total. Reason: unnecessary quoting
  by Gilbert B Norman
 
Cosakita18 wrote: Thu Oct 08, 2020 7:18 pm Irving .....can keep a tight grasp on refined product coming into Portland and Searsport.
I must wonder, being the consignee, to what extent Irving was "on tap" for damages arising from Megantic. Lest we note, their pockets were "a mite bit deeper" than were Eddie Burkhardt's.

To handle crude (believe first noted around here by ghCBNS Mr. Hadfield) extracted in Alberta first West by pipeline to Vancouver thence Ocean and Trans-Canal to Saint John, certainly suggests an aversion to rail transport of this lading.
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