and he notes - I did that and cracked the link:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/06-04-2003/0001959619&EDATE= Interesting but Conrail continued operations until June 1, 1999 and actually turned a profit in 1998. Apparently, NS and CSX only operate the former PRR/NYC lines under leases with the assets being held by Conrail. The news article reports on a petition to the STB to take over the lines under their aegis as their own assets which would leave Conrail with only the three switching operations. Apparently not many people know that CR does still exist, albeit jointly owned by CSX and NS. Since the assets are profitable as Conrail's, the revenue doesn't show on either NS or CSX balance sheet, thus the petition to untangle the ownership. It looks like a bean counter's nightmare. The world of high finance! Debentures, leases, who owns what! My own Whitefield RR is a consolidation of several smaller lines and a couple of subsidiaries and trackage rights which allows trains to connect with the NYC at its southern end and the Maine Central and GTW at the north end. There's not much real track but on paper it looks like a big railroad. Raleigh in Maine where it's still snowing... At 09:48 PM 2/25/2006, pieter_roos wrote: >Hi Raleigh; > >Yahoo split the link, as usual. Try putting both halve together. >Anyway, the first paragraph reads: > >Quote: >CSX and NS Seek to Acquire Direct Ownership of Conrail Subsidiaries Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/S-Scale/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
