Wednesday, December 17, 2025

CANADIAN NATIONAL GE C44-9W AND EMD SD40-2LW AT TOLONO, IL 9/18/2004

#ICRAILROAD, #ILLINOISCENTRALRAILROAD, #CANADIANNATIONALRAILWAYS, #RAILROADLUMBERCAR, #RAILROADTANKCARS, #GEC44-9WLOCOMOTIVE, #WIDECABEMDSD40-2, #emd

UP-NS Merger Faces Issues

Union Pacific + Norfolk Southern: Big merger, same old problem: Analysis

By Bill Stephens | September 18, 2025

The transcontinental railroad will produce a one-time surge in volume, but won’t fix the industry’s underlying growth struggle

Streamlined diesel locomotives pull freight train past wooden interlocking tower — The 1960 merger of the Erie and Delaware, Lackawanna & Western staved off the inevitable bankruptcy for more than a decade. At Mountain View, N.J., a tower guarded the crossing of Lackawanna’s double-track Boonton Line and Erie’s 32-mile Greenwood Lake Division. Hot DL&W freight NE-4 hits the diamond behind A-B-B-A Fs led by F7A 633. Jack Emerick

Back in the day when railroads were squeezed under the thumb of the Interstate Commerce Commission and saddled with money-losing passenger service and dying branch lines, Class I railroads went through merger after merger to fend off financial collapse.

The goal of those combinations was to eliminate duplicate routes, yards, shops, and headquarters in the hopes of remaining in the black. They were mergers born from failure. And they worked, for a time.

Now along comes Union Pacific decades later with its proposed $85 billion acquisition of Norfolk Southern. No one would call either railroad a failure.

UP was the most profitable railroad last year, hauling in $24.3 billion in revenue, $9.7 billion in operating income, and returning $4.7 billion to shareholders through a combination of dividends and share buybacks. If anything, it’s an embarrassment of riches under CEO Jim Vena, who has lit a fire under a long-slumbering franchise.

NS is on the comeback trail after its disastrous 2023 hazardous materials derailment in East Palestine, Ohio. Last year it beat back an activist investor, eased broader safety concerns, and weathered the departure of its chief executive under a cloud of scandal. Even after all this, NS in 2024 generated $4.1 billion in operating income on revenue of $12.1 billion.

And yet UP+NS is born from failure, too. No, it’s not a failure to turn a profit. It’s a failure to effectively compete with trucks. The railroads said as much in their preliminary proxy filing this week.

“The Norfolk Southern board … discussed industry trends and the difficulty Norfolk Southern and the industry has had, and risked continuing to have, in achieving significant growth on a standalone basis, including due to lower volumes because of truck market penetration, and the potential for a transcontinental merger to break through these challenges,” the regulatory filing says.

It’s an admission that Class I growth strategies have not borne fruit — and that they view a merger as the only way to win back freight from the highway.

Freight cars gather in Norfolk Southern’s Moorman Yard in Bellevue, Ohio,

Let’s assume regulators approve the historic deal — and that Omaha doesn’t screw it up with technology or operational snafus. A transcontinental Union Pacific should gain volume merely by offering true coast-to-coast, single-line service. Intermodal, for example, wins more market share when just one railroad handles the load. So it’s likely we’ll see a one-time growth spurt, perhaps even a sizeable one.

But then what? We’re right back where we started, unable to grow and bleeding volume to trucks.

The 52,215-mile UP — and an eventual, inevitable BNSF+CSX rival — will still be under intense investor pressure to maintain a low operating ratio, whether it’s Wall Street or Berkshire Hathaway applying the thumbscrews. Eliminating interchange in Chicago won’t fix this. And so transcon mergers simply kick the can down the road.

UP will harvest the low-hanging fruit, only to eventually run smack into the same obstacle railroads have been facing since volume peaked in 2006. Wall Street demands fat profit margins and doesn’t care whether railroads are growing or taking trucks off the highway.

That’s because real growth requires service investments — more crews, more locomotives, more marketing and sales people — and those costs push up the almighty operating ratio in the short term, which Wall Street punishes. A railroad that strays outside the operating ratio box, no matter how briefly, soon finds activist investors at its doorstep.

And so a low operating ratio and growth are incompatible. An exception would be in Western Canada, where bulk traffic sprouts like weeds and can’t move to port without Canadian National and Canadian Pacific Kansas City locomotives on the point of unit trains of covered hoppers or tank cars.

In the truck-competitive U.S. of A., however, taxpayer-supported interstates parallel every major main line, and railroad volume growth has been anemic. A transcontinental merger does nothing to change the eventual outcome of trucks carrying the day — and the freight — if railroads continue with business as usual. UP+NS is a temporary Band-Aid, at best.

To truly flourish — that is, make a decent buck while hauling more tonnage — the U.S. Class I railroads need a new game plan. One that goes beyond mergers and tackles the service and reliability gap that keeps the truckers’ trailers full.

You can reach Bill Stephens at bybillstephens@gmail.com and follow him on LinkedIn and X @bybillstephens

4-LOCOMOTIVE BNSF Stack Train CLATTERS Over Diamond at Wellsboro

👍CONNECT WITH US ON FACEBOOK! / hotrailproductions

🔵 FOLLOW US ON TWITTER! / csxproductions

📙 CHECK OUT OUR BLOG! https://www.hotrailproductions.biz/

🟦 EXPLORE OUR TUMBLR PAGE! https://www.tumblr.com/hotrailproductions

📺 Discover How to Skyrocket Your Video Views on YouTube!

🟥 UNLOCK AMAZING FREE TOOLS For Your YouTube Channel To Boost Views: Tubebuddy (Your Growth Secret on YouTube): https://www.tubebuddy.com/MR77100

💠 SHOW YOUR SUPPORT VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=54AM4YW9QTFDYhosted_button_id=54AM4YW9QTFDY https://youtu.be/Ov2aYvEYuiE?si=Am7xZ1ix13esmYQl&t=20 =============================================================================== 💲RAILROAD INVESTMENTS💲:

💰 https://get.stash.com/markd8uyn 💰

💰 https://join.robinhood.com/marke833 💰

🌈 BRIGHTEN UP WITH COLOR DSLR FILTERS https://geni.us/colofilters

🌞 POWER UP WITH A Solar Charger! https://geni.us/nvGYL ============================================================================= Watch as a magnificent westbound BNSF stack train glides over the CN diamonds at Wellsboro. The power features a GEVO, Tier 4, and two GE C44-9Ws! =============================================================================== GEVO: 8104 Tier 4: 3873 C44-9W: 4858 C44-9W: 4180 Captured on 6.7.19

DIVE INTO OUR BNSF PLAYLIST! ☛▶️ https://youtube.com/playlist?list=PLaBqtxbEoDQZIR1feVHJizGgjuaOUhr4o&si=pGAWlasht6xCnKYQ

BNSF SD75I Warbonnet! ▶️https://youtu.be/Ov2aYvEYuiE?si=Am7xZ1ix13esmYQl&t=20 ============================================================================= 🏆 JOIN OUR PATREON! https://www.patreon.com/HOTRAILPRODUCTIONS456

📼 CHECK OUT OUR VIDEOS! https://www.youtube.com/@HOTRAILProductions/videos

💵 SHOW SUPPORT VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&

📱➡️📸 TRANSFORM YOUR PHONE INTO A CAMERA! https://geni.us/PhoneCameraConver ======================================================================

00:00 Introduction 00:15 Locomotives 00:26 Double Stacks 01:51 Baretable 02:12 End of Train #BNSFRAILWAY #CSXT #RAILROADCROSSING #RAILROADJUNCTION #SHIPCONTAINERS, #BURLINGTONNORTHERNSANTAFE, #STACKTRAIN, #AMERICANFREIGHTTRAIN

One Unit CN Auto Train: A Wellsboro, IN Experience

👍JOIN US ON FACEBOOK! / hotrailproductions

🔵 FOLLOW US ON TWITTER! / csxproductions

📙 CHECK OUT OUR BLOG! https://www.hotrailproductions.biz/

🟦 EXPLORE OUR TUMBLR PAGE! https://www.tumblr.com/hotrailproductions

🏆 SUPPORT US ON PATREON! https://www.patreon.com/HOTRAILPRODUCTIONS456

📼 DIVE INTO OUR VIDEOS! https://www.youtube.com/@HOTRAILProductions/videos

💵 CONTRIBUTE VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&

Witness the thunderous roar as a westbound CN auto train with a powerful GE ES44DC unit storms across CSX at Wellsboro!

📺 Discover the secrets to boosting your YouTube views!

🟥 UNLOCK FANTASTIC FREE TOOLS FOR YOUR YOUTUBE CHANNEL: Tubebuddy (Your GROWTH partner on YouTube): https://www.tubebuddy.com/MR77100

CHECK OUT OUR CN PLAYLIST! ▶️https://youtube.com/playlist?list=PLaBqtxbEoDQZijhVBLUVIrGRGXa7OIZMR&si=eK8I6efmdDoHCdeH

EXPERIENCE A VERY LONG CN TRAIN!▶️https://youtu.be/inrvaCI3XGs?si=RmEg6EnCYjxhxnLf&t=7

📸 Capture the moment with a Sony Alpha Mirrorless Camera! https://geni.us/Alpha6000bundle

📸 📽 Explore Vlogging Kits! https://kit.co/MR77100/vlogging-kits

📸 Discover DSLR Alternatives https://geni.us/DLSRAlternate

🌞 Harness the power of a Solar Charger! https://geni.us/nvGYL

📱➡️📸 Transform Your Phone Into A Camera! https://geni.us/PhoneCameraConver

💲 INVEST IN RAILROADS💲:

💰 https://get.stash.com/markd8uyn 💰

💰 https://join.robinhood.com/marke833 💰

Tower and NKP SIGNAL at Walkerton, Indiana 9/27/19

Night DPU: CSX’s Ghosts in the Wellsboro Woods

👍FACEBOOK US! / hotrailproductions

🔵 TWEET US! / csxproductions

📙OUR BLOGGER! https://www.hotrailproductions.biz/

🟦OUR TUMBLR PAGE! https://www.tumblr.com/hotrailproductions

📺 How to Get More Video Views on Youtube!

🟥GET AMAZING FREE Tools For Your Youtube Channel To Get More Views: Tubebuddy (For GROWTH on Youtube): https://www.tubebuddy.com/MR77100

🏆OUR PATREON! https://www.patreon.com/HOTRAILPRODUCTIONS456

📼 OUR VIDEOS! https://www.youtube.com/@HOTRAILProductions/videos

💲RAILROAD INVESTMENTS💲:

💰 https://get.stash.com/markd8uyn 💰

💰 https://join.robinhood.com/marke833 💰

An eastbound CSX train with a pair of GEVOS, one running as a DPU, crosses the CN diamonds at Wellsboro.

💵CONTRIBUTE VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick& 💠Contribute VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=54AM4YW9QTFDYhosted_button_id=54AM4YW9QTFDY

💡Video Lighting! https://geni.us/Videolights

🟡Ring Light w/Tripod! https://geni.us/S9QDrc

🎥 Pro Canon Camcorder! https://geni.us/CanonXA11

📱➡️📸Turn Your Phone Into A Camera! https://geni.us/PhoneCameraConver

OUR CSX PLAYLIST! ▶️https://youtube.com/playlist?list=PLaBqtxbEoDQZcNI6ojfG4kFlDp9YqFhVX&si=SI_tN9asbeb1favy https://youtu.be/xdLCPLXWakI?si=e8gGTDte0bS0Dml6&t=25

CSX TANK TRAIN CROSSES OVER! ▶️https://youtu.be/3ePuPHZWwKQ?si=5Y0jD6vReuHwn-5Z #NIGTHTRAIN, #TRAINATNIGHT, #BRIGHTTRAINHEADLIGHT, #RAILROADS_OF_AMERICA,

Pure lllinois Central SD70 consist W/P5 Horn at Pesotum, IL

Pesotum is located about 5 miles south of Tolono on the Illinois Central's New Orleans mainline. A southbound freight with a pure IC consist passes the quaint depot with another seemingly endless train. Listen to the melodic P5 horn!

📺 How to Get More Video Views on Youtube!

🟥GET AMAZING FREE Tools For Your Youtube Channel To Get More Views: Tubebuddy (For GROWTH on Youtube): https://www.tubebuddy.com/MR77100

🏆OUR PATREON! / hotrailproductions456

👍FACEBOOK US! / csxproductions

🟧OUR BLOGGER! https://csxman.blogspot.com/

🔵 TWEET US! / csxproductions

🟦OUR TUMBLR PAGE! https://www.tumblr.com/hotrailproduct...

📼 OUR VIDEOS! / @hotrailproductions

💵CONTRIBUTE VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr...

#RAILROADTANKCARS #STANDARDCABLOCOMOTIVE #RAILROADLUMBERCARS #EMDSD70LOCOMOTIVE #ICRAILROAD #P5HORN #ILLINOISCENTRALDEATHSTAR

FOLLOW US!!

Rapid City Pierre & Eastern (RCP&E) SD40s Pass Derailment at New Underwo...

👍FACEBOOK US! / hotrailproductions

🔵 TWEET US! / csxproductions

📙OUR BLOGGER! https://csxman.blogspot.com/ ============================================================================== 💲RAILROAD INVESTMENTS💲:

💰 https://get.stash.com/markd8uyn 💰

💰 https://join.robinhood.com/marke833 💰

🌞Solar Charger! https://geni.us/nvGYL

📱➡️📸Turn Your Phone Into A Camera! https://geni.us/PhoneCameraConver

🎤 Universal Microphone! https://geni.us/Unimike

🛩️Drone For Lofty Railfanning! https://geni.us/drone720 =============================================================================== At New Underwood, South Dakota, a trio of RCP&E SD40's bring a grain train past a derailment site and an FRA inspection truck. Filmed on October 20, 2020. ================================================================================ 📸

📹 🎥 📽 Video Camera Kits! https://kit.co/MR77100/video-cameras

📲📼Phone Video Vlogging Kit! https://geni.us/b4Vp

📸GoPro 360 MAX! https://geni.us/GoPro360

🚗Dash Cam for Road Trips! https://geni.us/dashcamu

🔭 Scope For Train-spotting! https://geni.us/starscope 🗺️ Railroad Atlases! https://geni.us/rratlas

Monday, December 15, 2025

CSX LOCAL POWER AT WELLSBORO, INDIANA 8/11/18

CANADIAN NATIONAL/IC SD40-2 LEADS CN C44-9W AT TUSCOLA, IL

#ICRAILROAD, #EMDSD40-2LOCOMOTIVE, #SD40-2LEADSTRAIN, #illinoiscentralrailroad, #CANADIANNATIONALRAILWAYS, #emdsd40, #RAILROADLUMBERCAR

BRAND NEW EMD SD70ACE'S! Amid Railroad Congestion At Milford Jct., IN

👍FACEBOOK US!

/ hotrailproductions

🔵 TWEET US! / csxproductions

🟧OUR BLOGGER! https://csxman.blogspot.com/ ============================================================================== 💲RAILROAD INVESTMENTS💲

: 💰 https://get.stash.com/markd8uyn 💰

💰 https://join.robinhood.com/marke833 💰

📸DSLR Alternatives https://geni.us/DLSRAlternate

🌞Solar Charger! https://geni.us/nvGYL

🔋 Anker Portable Charger https://geni.us/UG42k

🔋 Battery Charger! https://geni.us/alphacharger 📱➡️📸Turn Your Phone Into A Camera! https://geni.us/PhoneCameraConver ============================================================================== While the northbound NS hopper train patiently waits, an eastbound BNSF intermodal, the CSX local, and a westbound CSX tank train sneak across the diamonds. Finally the NS train receives permission to cross, and the new SD70ACES throttle up. =============================================================================== CHAPTERS: 00:00

Introduction 00:15

BNSF Train 02:19

Local Backs Up 03:24

Westbound Tank Train 05:24

Northbound NS SD70ACE's on Empty Hopper Train ============================================================================== 🎥 Pro Canon Camcorder! https://geni.us/CanonXA11

📹 🎥 📽 Pro Video Accessories! https://geni.us/jxUdLq2

📸Sony Alpha Mirrorless Camera! https://geni.us/Alpha6000bundle

📸🚗Dash Cam for Road Trips! https://geni.us/I4eIY4

🛰️ 📟Garmin GPS System! https://geni.us/PlRcW

🔭 Scope For Train-spotting! https://geni.us/starscope

🗺️ Railroad Atlases! https://geni.us/rratlas https://www.tubebuddy.com/MR77100

📲📼Phone Video Vlogging Kit! https://geni.us/b4Vp 🚗 🧳 Travel Accessories Kit! https://kit.co/MR77100/travel-accesso... ============================================================================ #progressrail #norfolksouthern #unionpacificrailroad #norfolksouthernconductor #progressraillocomotive #c44-9Wlocomotive #dayinthelifeofarailroadconductor #csxt #hoppertrain #burlingtonnorthernsantaferailway #csx_transportation

CSX Empty Hopper Train Rumbles Through Wellsboro With Rare C40-8!

👍 Connect with us on FACEBOOK! https://www.facebook.com/HOTRAILPRODUCTIONS

🔵 Follow our journey on TWITTER! https://twitter.com/CSXProductions

📙 Dive into our BLOGGER! https://www.hotrailproductions.biz/

🟦OUR TUMBLR PAGE! https://www.tumblr.com/hotrailproductions

📺 How to Get More Video Views on Youtube! 🟥GET AMAZING FREE Tools For Your Youtube Channel To Get More Views: Tubebuddy (For GROWTH on Youtube): https://www.tubebuddy.com/MR77100

🏆OUR PATREON! https://www.patreon.com/HOTRAILPRODUCTIONS456

📼 SURF OUR VIDEOS! https://www.youtube.com/@HOTRAILProductions/videos

💵CONTRIBUTE VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&

💲 RAILROAD INVESTMENTS 💲 :

💰 Start your journey here: https://get.stash.com/markd8uyn 💰

💰 Join the fun at: https://join.robinhood.com/marke833 💰

Witness the magic as an eastbound CSX empty hopper train emerges from the golden glow of the late afternoon sun, rattling across the iconic ex-GTW diamonds at Wellsboro. Powering this adventure: GE ES44DC #5448 and GE C40-8 #7636.

📽 Capture the action with a Canon Vixia Camcorder! https://geni.us/R800

🎞 Experience thrill with GoPro Hero 10! https://geni.us/OobP9b9

📸 Discover the world in 360 with GoPro 360 MAX! https://geni.us/GoPro360

🔭 Gear up for train-spotting with our Scope! https://geni.us/starscope

🗺️ Navigate the rails with Railroad Atlases! https://geni.us/rratlas

00:00 Introduction

00:10 LOCOMOTIVES 0

0:20 HIGH-SIDED HOPPERS

01:19 END OF TRAIN

#americanfreighttrain, #csxtransportation, #csxlocomotives, #C40-8LOCOMOTIVE, #EMPTYHOPPERTRAIN, #CSXCOALHOPPERS, #EMPTYCOALTRAIN

Norfolk Southern HIGH-HOOD SD40 AND C39-8 AT BUCYRUS, OH! 1997

👍FACEBOOK US! / hotrailproductions

🔵 TWEET US! / csxproductions

📙OUR BLOGGER! https://www.hotrailproductions.biz/

🟦OUR TUMBLR PAGE! https://www.tumblr.com/hotrailproduct...

📺 How to Get More Video Views on Youtube!

🟥GET AMAZING FREE Tools For Your Youtube Channel To Get More Views: Tubebuddy (For GROWTH on Youtube): https://www.tubebuddy.com/MR77100

🏆OUR PATREON! / hotrailproductions456

📼 OUR VIDEOS! / @hotrailproductions

💵CONTRIBUTE VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr...

💠Contribute VIA PAYPAL! https://www.paypal.com/cgi-bin/webscr... ============================================================================== OUR NS PLAYLIST!▶️ • Norfolk Southern

60 mpH NS C39-8! ▶️ • 60 MPH Norfolk Southern C39-8 "Humpback"

📸Canon EOS R5 https://geni.us/CanonEOR

📹 Affordable Sony Camcorder! https://geni.us/RTQF

🌞Solar Charger! https://geni.us/nvGYL

📱➡️📸Turn Your Phone Into A Camera! https://geni.us/PhoneCameraConver ============================================================================= After the Conrail local passes, a long northbound Norfolk Southern train accelerates from a stop and crosses the diamond. Power is an SD40-2, a C39-8, and an SD40-2 with a high nose. Note the block of "shorty" tank cars and piece of track in the gondola. At one time, the NYC had a branch line that passed through here, and the ROW is visible crossing the NS. A segment of the line remains to the north to serve a quarry at Spore. A new connecting track off the Fort Wayne Line provides access. =========================================================================== 🛩️Drones! https://geni.us/multipledrones

📲📼Phone Video Vlogging Kit! https://geni.us/b4Vp

💲RAILROAD INVESTMENTS💲:

💰 https://get.stash.com/markd8uyn 💰

💲 https://join.robinhood.com/marke833 💰 =========================================================================== #NORFOLKSOUTHERNSD40-2HIGHHOOD #HIGHHOODDIESELLOCOMOTIVE #GEC39-8DIESELLOCOMOTIVE #NORFOLKSOUTHERNHIGHHOODDIESELLOCOMOTIVE #HIGHNOSEDIESELLOCOMOTIVE