opinion

Lou Thompson: California HSR ‘Has Reached a Dead End’ –– Commentary

SACRAMENTO, Calif. –– Above: Lou Thompson on a recent edition of CBS 60 minutes. From 2009 to 2024, Louis S. (Lou) Thompson, whose distinguished career has included formation of Amtrak in the early 1970s and railways advisor to the World Bank, was a member of the California High Speed Rail project Peer Review Group reporting to the California State Legislature. He was Chairman from 2012 to 2024.

STB Aims to Reform Rail Permitting – Commentary

WASHINGTON, D.C. –– In the opinion of the late President Ronald Regan, “The nine most terrifying words in the English language are, ‘I’m from the government and I’m here to help.’” Among railroaders, the phrase rang painfully and expensively true for most of the 20th century when the former Interstate Commerce Commission (ICC) regulated railroads into the years the locust hath eaten. Things they have been a changin’ under ICC successor Surface Transportation Board (STB).

Thank You for Your Service – Commentary

NEW YORK ––Between 16% and 25% of the U.S. railroad industry workforce consists of military veterans, with most Class I’s reporting that up to 20% or more of their employees have served in the armed forces. Veterans are highly valued in the industry for their discipline, safety focus, and skill sets.

TD Cowen: Takeaways From the Next-Gen Freight Rail Conference

CHICAGO ––RAILWAY AGE NEXT-GEN FREIGHT RAIL CONFERENCE, MARCH 10, 2026: Union Pacific sees end-to-end scale and past merger lessons supporting its consolidation case with Norfolk Southern, but peers flag competition loss and gateway risk. Union Pacific noted that it is talking to several Class I carriers behind the scenes, potentially paving the way for some concessions. The Surface Transportation Board is streamlining environmental permitting and is committed to overhauling switching rules.

Former Rail Executive: UP-NS Deal Likely to Get Done & Other Views –– Commentary From TD Cowen Via Railway Age

NEW YORK –– We hosted a former Class I CEO to review the recent Union Pacific-Norfolk Southern merger application. He sees a very strong filing with acceptance likely though not until 2027. The CGP (Committed Gateway Pricing) solution enhances competition and should pass STB’s test. The network plan supports disclosed truck conversion opportunities in transcontinental and watershed lanes. Competitors are likely compelled to adapt and could eventually propose their own combinations.

A Few Better Ideas: A Contrarian View (Commentary)

CHICAGO –– Union Pacific CEO Jim Vena claims to have identified a number of rail industry shortcomings that according to him can only be solved by his proposed transcontinental merger between the Union Pacific and Norfolk Southern railroads. The first of these shortcomings we would like to focus on is the well-known issue of the Chicago interchange.

‘Injustice in Jacksonville’

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 reason other than, sooner or later, refusing to join the transcon merger fray. I’m not the only one who wholeheartedly agrees with CNBC’s Jim Cramer that there has been an “injustice in Jacksonville” based on short-sightedness and hedge fund pressure. Call me naïve, but I didn’t see it coming. Nor did many others.