Eastern Railroad Discussion > ?'s regarding NS selling off branch lines

I've been looking on the web for the last few minutes (well, not really looking, more like idly browsing) for information concerning the announcement a while back from Norfolk Southern that they were looking to sell off a number of low density branch lines.

I'm assuming this is still a go with the stock prices still low. Has there been anything official on this? Also, is there anything concrete on what lines may go?


Joe H.
Chester, SC

nothing more than rumors, nothing published nothing in trade magazines

nothing more than rumors, nothing published nothing in trade magazines

Indeed they are. They have made arrangements to sell the Hyde Park Branch in Cincinnati to an undisclosed buyer. The sale is not final, thus no announcement.

jch9596 wrote:
>
> snip <

> I'm assuming this is still a go with the stock prices still
> low. Has there been anything official on this? Also, is there
> anything concrete on what lines may go?
>
>

Yes, it's a go, and they would probably do it even if the stock price were high. Branches have low returns on investment normally, so the way to get your corporate ROI higher is to get rid of the low ROI stuff.

They mentioned it briefly during the conference call yesterday, so it is official. However, they did not name names and frankly most of the investor crowd would not know where any of those lines are anyway. Most Wall Streeters idea of West Virginia is the Greenbrier; mine tends to run to Pokey and images of O. Winston Link.

BobE

My understanding is that these were not rumors at all, but was actually going to happen. I really need to start remembering better where I get my information, but it came from a good source, like Trains News Wire, if not directly from the horses mouth, so to speak.

It's easy to disbelieve EVERYTHING one gathers on line, maybe easier for some than to believe everything. But sometimes what one ears and discards of "nothing more than rumors" turns out to be gospel.

Now, has anyhone else heard anythig further on this?


Joe H.

Thanks for the information, Bob. My interest in this lies mostly with the railfanning aspect of it. But even someone from South Carolina can see why a branch line is better in the hands of a small company than NS.


Joe H.

Word is the "F" line between Macon and Madison, Georgia is on the block. NS wants to keep the lower end with the two rock quarries and let someone take the north end. So far, no one has taken them up on it.

The "B" line between Barnesville and Thomaston Georgia is also being considered. I also understand some lines around Albany GA are also.