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Opinion

Commentary

BNSF: UP+NS ‘Costly, Unnecessary, Anti-Competitive, Bad for the U.S. Economy’

Though Union Pacific and Norfolk Southern have yet to file their formal merger application with the Surface Transportation Board, kicking off a process expected to take up to 18 months,…
(Courtesy of Reinvent Albany)
Commentary

Reinvent Albany: Investing in MTA Is Investing in America

Reinvent Albany, a New York-based government watchdog organization, has released a new report showing that the Metropolitan Transportation Authority (MTA) spent nearly $19 billion outside New York from 2011 to…
Commentary

Recusal for Primus if He Returns?

Democrat Robert E. Primus, fired Aug. 27 from his Senate-confirmed seat on the Surface Transportation Board (STB) by POTUS 47, wants his job back—and he is suing the Republican POTUS,…
(Union Pacific Photograph)
Commentary

TD Cowen: 20th Anniversary Quarterly Rail Survey Says …

Pricing continues to decelerate in the third quarter, running well below the survey’s average. Business growth expectations worsen, akin to COVID lows. Economic confidence skews negative. Shippers would move LSD…
Commentary

TD Cowen Insight: Merger to Dominate Rail Earnings Despite Diverging Q3 Operations

We lower Q3 EPS estimates below current consensus for both Eastern carriers, while modestly raising estimates for UNP, driven by outperformance in IM and coal. Broader freight demand remains challenged…
Commentary

The ‘End Game’ UP-NS Merger

On July 30, 2025, at the Surface Transportation Board, Union Pacific and Norfolk Southern filed a notice of intent to file an Application for authority to merge. The earliest the…
Jim Vena (UP Photograph)
Commentary

STB Drama Follows UP-POTUS Chat

WATCHING WASHINGTON, RAILWAY AGE, OCTOBER 2025 ISSUE: The proposed marriage of Union Pacific (UP) and Norfolk Southern (NS) to form the first U.S. seamless Atlantic to Pacific transcontinental railroad is a…
(Brightline Photograph of Orlando Station, located at Orlando International Airport)
Commentary

Brightline Loses Nearly $550MM in 2024, but Keeps on Going

There is a lot happening at Brightline Florida, the nation’s only private-sector intercity passenger railroad, which runs essentially hourly service between downtown Miami and Orlando International Airport (MCO). While we…
Commentary

PRT Also Gets Two-Year Reprieve

On Sept. 23, we reported on the funds transfer to operations that gave the Southeastern Pennsylvania Transportation Authority (SEPTA) and its riders in and around Philadelphia a two-year reprieve. The…
Commentary

‘Injustice in Jacksonville’

CSX President and CEO Joe Hinrichs, Railway Age’s 2025 Railroader of the Year, has been suddenly and unexpectedly railroaded by his own collectively myopic Board of Directors, and for no…
(Screenshot from NS Video)
Commentary

Watch: NS Generations on the Rails

At Norfolk Southern (NS), railroading runs deep. It often spans generations of the same family. Across our network, you’ll find parents, children, grandchildren, and more who have all proudly called…
(Courtesy of BNSF)
Commentary

BNSF Intermodal: We’re Going Where Markets Are Growing

Current population data shows the fastest-growing areas in the U.S. are concentrated in the South and West. As cities in these regions grow, so does the need for more goods,…
Commentary

SEPTA’s Faustian Bargain

Philadelphia’s SEPTA (Southeastern Pennsylvania Transportation Authority) is again operating its former level of service, despite recent threats of severe cutbacks. Riders are paying significantly more, but they are not forced…
Santa Fe Hospital in Temple, Texas, from Santa Fe magazine in January 1943. (Courtesy of BNSF)
Commentary

How BNSF Predecessor Railroads Helped Shape Modern Healthcare

Baylor Scott & White is one of the most notable hospital networks in the country, and its name originated from two legendary railroaders. That’s because BNSF predecessor railroads served as…
(Courtesy of RSI)
Commentary

Driving the Future of Rail: A Conversation With Wabtec’s Eric Gebhardt

At a June 2025 U.S. House Subcommittee hearing on Railroads, Pipelines, and Hazardous Materials, Wabtec Corporation’s Executive Vice President and CTO Eric Gebhardt testified on behalf of RSI. His testimony highlighted…
Commentary

NEARS: Consolidation, Weak Economic Backdrop Highlighted

While consolidation sentiment varied at the NEARS conference, there was a belief that the deal would get done. Comments on the economic backdrop were not positive, varying from sub-seasonal to…
Commentary

Vermont by Rail

When Amtrak was founded in 1971, there were no passenger trains running north of Massachusetts or the Empire Service line in New York State. The were no passenger trains at…
Commentary

It’s Just Golf. Honest!

On Sept. 17, 2025, the BNSF Executive Train was seen heading east at Depew, N.Y. (just south of Buffalo) on CSX’s Chicago-New York main line, “giving folks a chance to…
Commentary

APTA Lauds NYMTA CRZ Tolling

SECDOT Duffy will not appreciate this: The American Public Transportation Association awarded its 2025 Innovation Award to the New York Metropolitan Transportation Authority (MTA) for the agency’s controversial—but effective and…
Commentary

Watershed Moment: Unpacking the Transcon Rail Opportunity

We believe a unified Union Pacific and Norfolk Southern sees potential upside to disclosed revenue synergies as we quantify the watershed opportunity. Our analysis of more than 4,000 watershed O-D…
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