CP sells D&H

[jwb]

Regarding paper traffic, I saw information on another forum that the paper mill in Bucksport will close by 2015 http://www.pressherald.com/2014/10/08/versos-finances-helped-by-bucksport-mill-closure-moodys-analyst-says/ and this accounts for about a third of Pan Am traffic out of Maine. However, I think the reason for NS's interest in Pan Am and the ex D&H route is intermodal from the Boston area in any case.

[Lenny53]

NS to acquire D+H line

http://business.financialpost.com/2014/11/17/canadian-pacific-railway-ltd-to-sell-rail-line-to-norfolk-southern-for-us217-million/

[lock4244]

Wow, nice job CP... $25M 25 years ago, and they sell half for $217M.

[Spikre]

 
   $217million ?
   must be the N&W side of NS brokered this half wit deal.
   1960s,
   N&W fights inclusion of EL and D&H into the 64 Merger.
   1967,
   N&W sets up DERECO to own, but keep EL and D&H out of N&W.
   1972,
   after bleeding EL for 5 years, N&W puts EL into Bankruptcy to get rid of it.
   D&H muddles along in DERECO as N&W doesn't want to incite NY State.
   1982,
    or thereabouts, N&W Sells D&H for $500,000 dollars to Guiliford, claims
   it was a Brilliant move.
   1998,
   NS buys about 58% of CR ,forgetting they wouldn't have needed it if they would
   have kept EL and D&H.
   once again they claim it was a Brilliant move.
  2014,
   they Re-Buy D&H for $217,000,000 and will claim how Brilliant this move is.
  while ignoring they got hosed by Guiliford last time they sold D&H.
     John K.Knieling must be rolling over this move.
     Spikre
     

[cv_acr]

To be fair though, things can change pretty significantly over 3+ decades... (1982-2014 when the D&H was sold and bought)

[Spikre]

 
   once the ex-PRR and NYC mains were rebuilt CR started eliminating most routes that
   could be competitive:
   EL west of Meadville,cut and ripped up in several locations.
   EL Jersey Cut Off,torn up.
   LV west of Sayre,ripped up.
   CNJ east of Philipsburg,most given to NJT.
   not sure about Reading lines,but sure they followed the same pattern ?
   so by 82 or so,CR was mostly PC again,though several lines not PC remained as feeders.
    as for D&H,any lines where they were Expanded on CR they had a hard time getting trains
   over the road,they even had to wait on the Buffalo line for the Empty hopper train that CR
   ran to keep NY State happy they were using the EL Southern Tier route.
    yeah,CR kept that stuff up as long as they could get away with it.
    it is refreshing that CR has been gone about 15 years now.
         Spikre
           

[Lenny53]

   
 
     John K.Knieling must be rolling over this move.
     Spikre
     

Spikre;  Thanks for the Knieling reference