Latest news with #AbrahamLincoln
Daily Mail
a day ago
- Politics
- Daily Mail
Trump hints he could take over sanctuary cities and arrest mayors
Donald Trump suggested he could impose martial law to take control of sanctuary cities that refuse to comply with federal immigration laws. The president's post to Truth Social Wednesday morning also implied that he could take action to arrest 'insurrectionist' mayors in those cities that uphold policies making it harder for federal immigration enforcement agents to do their jobs. The wild suggestion came in the form of a meme that Trump reposted to his social media account. A pro-MAGA account posted a black and white image of Abraham Lincoln surrounded by words meant to come from the perspective of the 16th U.S. president. ''Sanctuary City' mayors are defying federal law,' it reads. 'They are insurrectionists just like the southern governors during the Civil War.' 'President Trump should declare martial law in those cities, arrest the mayors, appoint military governors, and restore the rule of law, just like I did,' the Lincoln-voiced meme reads. The post came as a response to Trump's lengthy Truth Social post made on Tuesday night demanding that the Senate confirm his 'highly qualified judges and U.S. attorneys.' Trump claimed that the states where his appointments are still outstanding are the ones that have the most crime and need the most help. 'I would never be able to appoint Great Judges or U.S. Attorneys in California, New York, New Jersey, Illinois, Virginia, and other places, where there is, coincidentally, the highest level of crime and corruption — The places where fantastic people are most needed!' Trump lamented of Democrat blockades. Martial law is invoked by governments during times of extreme crisis, like war, rebellion or major disasters. It usually involves the military helping take control of civilian affairs, and limits normal legal process and other civil liberties. In the U.S., martial law was imposed in certain areas of the country during the Civil War by President Lincoln to suppress rebellion. It was also used in Hawaii during World War II after Pearl Harbor attacks. Many Republicans feel that the mass amounts of illegal immigration and years of open-border policies under former President Joe Biden constitutes a crisis that would justify use of such extreme processes. Trump has recently upped his war with sanctuary cities and states and their leadership. Federal immigration agents under the Department of Homeland Security have been tasked with conducting raids in cities and states that rebuke federal laws.
Daily Mail
a day ago
- Politics
- Daily Mail
Trump shocks with threat he could take over sanctuary cities and arrest unruly mayors under martial law
Donald Trump suggested he could impose martial law to take control of sanctuary cities that refuse to comply with federal immigration laws. The president's post to Truth Social Wednesday morning also implied that he could take action to arrest 'insurrectionist' mayors in those cities that uphold policies making it harder for federal immigration enforcement agents to do their jobs. The wild suggestion came in the form of a meme that Trump reposted to his social media account. A pro-MAGA account posted a black and white image of Abraham Lincoln surrounded by words meant to come from the perspective of the 16th U.S. president. ''Sanctuary City' mayors are defying federal law,' it reads. 'They are insurrectionists just like the southern governors during the Civil War.' 'President Trump should declare martial law in those cities, arrest the mayors, appoint military governors, and restore the rule of law, just like I did,' the Lincoln-voiced meme reads. The post came as a response to Trump's lengthy Truth Social post made on Tuesday night demanding that the Senate confirm his 'highly qualified judges and U.S. attorneys.' Trump claimed that the states where his appointments are still outstanding are the ones that have the most crime and need the most help. 'I would never be able to appoint Great Judges or U.S. Attorneys in California, New York, New Jersey, Illinois, Virginia, and other places, where there is, coincidentally, the highest level of crime and corruption — The places where fantastic people are most needed!' Trump lamented of Democrat blockades. Martial law is invoked by governments during times of extreme crisis, like war, rebellion or major disasters. It usually involves the military helping take control of civilian affairs, and limits normal legal process and other civil liberties. In the U.S., martial law was imposed in certain areas of the country during the Civil War by President Lincoln to suppress rebellion. It was also used in Hawaii during World War II after Pearl Harbor attacks. Many Republicans feel that the mass amounts of illegal immigration and years of open-border policies under former President Joe Biden constitutes a crisis that would justify use of such extreme processes. Trump has recently upped his war with sanctuary cities and states and their leadership. Federal immigration agents under the Department of Homeland Security have been tasked with conducting raids in cities and states that rebuke federal laws. Earlier this year in Los Angeles, California, violent riots broke out between pro-immigration demonstrators and Immigration and Customs Enforcement (ICE) agents. Rioters set fires, looted stores and physically assaulted agents and officers. Other areas this year where ICE raids have been carried out – sometimes without cooperation from local authorities – were in New York City and Colorado.
Business Insider
2 days ago
- Business
- Business Insider
M&A News: Norfolk Southern Stock (NSC) Derails after $85B Union Pacific Takeover
Shares in train company Norfolk Southern (NSC) slid off track today as it agreed a deal with rival Union Pacific (UNP) to create an Abraham Lincoln-like $250 billion rail giant. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Coast to Coast Union Pacific, whose share price also slipped 0.5%, said it would buy smaller rival Norfolk Southern in an $85 billion deal. If approved, the deal would be the largest-ever buyout in the sector and combine Union Pacific's stronghold in the western two-thirds of the U.S. with Norfolk's 19,500-mile network that primarily spans 22 eastern states. Norfolk Southern was down 2.7% in pre-market trading, despite the all-stock deal promising to create the largest railroad operator in the country with over 50,000 miles of track, across 43 states. Indeed, it would be the first operator to move goods from the Pacific Coast on the West to the Atlantic on the East using its own tracks. Union Pacific said this would finally meet former U.S. President Abraham Lincoln's vision of a transcontinental railroad first set out 165 years ago. The deal values Norfolk Southern at $320 per share, giving it a value of $85 billion. Union Pacific is valued at around $165 billion. Despite being smaller, Norfolk has outperformed peers this year. Regulatory Barriers The railroad sector has been hit in recent times by high labor costs, fuel prices and weaker freight volumes. Although an uptick in U.S. manufacturing as a result of President Trump's tariff policies and calls for more domestic investment could spark a revival. Indeed, the macro picture is a key risk in the business model of railroad operators. 'Railroads have been an integral part of building America since the Industrial Revolution, and this is the next step in advancing the industry,' said Jim Vena, Union Pacific's chief executive. Mark George, chief executive of Norfolk Southern, said the deal would help ignite rail's ability to 'deliver for the whole economy.' Given the size of the deal, it is likely that there may be some regulatory barriers dead ahead. The last major transaction in the sector – Canadian Pacific's (CP) $31 billion takeover of Kansas City Southern – took 2 years to gain approval. If it did get the green light the deal would be the biggest since Microsoft's (MSFT) $75.4 billion takeover of Activision Blizzard back in 2023. Is NSC a Good Stock to Buy Now? NSC stock's consensus price target is $288.67, implying a 0.79% upside.
Fast Company
2 days ago
- Business
- Fast Company
From Lincoln's dream to an $85 billion merger, the transcontinental railroad is back
Between 1863 and 1869, the first transcontinental line, known as the Pacific Railroad was built in the United States. The line ran from Omaha, Nebraska to Sacramento, California, and carried passengers and goods alike. It was built mostly by the Central Pacific Railroad Company of California and Union Pacific, and marked a turning point in the Industrial Revolution and America's economy when it came to shipping goods from the west coast. Now Union Pacific looks to expand upon history. Pending approval by the Surface Transportation Board (STB), it says it hopes to acquire Norfolk Southern through a 'stock and cash transaction' by 2027, and create the 'Union Pacific Transcontinental Railroad'. Which according to a press release, will involve Norfolk Southern shareholders receiving 'one Union Pacific common share, and $88.82 in cash for each share of Norfolk Southern.' Both combining to represent a $320 value per share, based on Union Pacific's July 16, 2025, closing stock price. Ultimately, allowing them to 'buy' Norfolk Southern for $85 billion. Norfolk Southern shareholders would represent 27% of ownership in the combined company. If the merger is not approved, the agreement reflects a $2.5 billion termination fee. Their end goal is to connect the west and east coasts across 43 states and link around 100 shipment ports throughout North America. They say it would be the first transcontinental railroad in America, but in reality, it would just be the first line to carry freight (not passengers), without needing to transfer shipments between rail lines. 'This combination is transformational, enhancing the best freight transportation system in the world – it's a win for the American economy, it's a win for our customers, and it's a win for our people,' Union Pacific CEO, Jim Vena said in a statement. 'It builds on President Abraham Lincoln's vision of a transcontinental railroad from nearly 165 years ago and advances our Safety, Service and Operational Excellence Strategy.' Who does a transcontinental railroad benefit? Currently, there are seven class 1 freight railroads operating in the U.S. including BNSF Railway Co., Canadian National Railway (Grand Trunk Corporation), Canadian Pacific (Soo Line Corporation), CSX Transportation, Kansas City Southern Railway Co., Norfolk Southern, and Union Pacific Railroad. Echoing the sentiment of the Trump administration's 'America First' strategy, the statement announcing the merger says this venture would 'transform the U.S. supply chain, unleash the industrial strength of American manufacturing, and create new sources of economic growth and workforce opportunity that preserves union jobs.' Additionally, Union Pacific claims the merging of routes would improve transit times, enhance rail competition—-specifically against the Canadian lines that operate in the states—and move more freight via train for a lower consumer and manufacturer cost. The company cites the pros of rail shipping over highway truckers as 'more cost effective on a per-ton mile basis, faster due to a lack of traffic concerns, and more environmentally fuel efficient.' On the flipside, the cons of rail include it being less cost efficient for smaller shipments, and the shipping mode's inability to reach specific locations all the time, and those truckers are likely to have something to say about any transportation that moves from truck to rail. Linking America's coasts According to the Federal Railroad Administration, 52% of rail freight consists of 'bulk' commodities. These widely include agriculture, energy products, hazardous materials and chemicals, automobiles, food, and other various materials. The other 48% consist of consumer goods and miscellaneous items like clothes, electronics, and produce—most of which are considered 'intermodal', meaning they are small enough to be transferred for the 'last mile' of shipment via plane, truck, or other transportation mode. And per Union Pacific and Norfolk Southern, these goods equal around 1.5 billion tons currently moved via freight railroads every year. What happens next? The STB will review the agreement after the companies file their application to merge—something they say they plan to do within the next six months. A merging of this capacity will likely raise questions regarding rail regulations and ethics behind competition in America, as more and more freight rail mergers have taken place over the past few years.
Time of India
2 days ago
- Business
- Time of India
Railroad consolidation push: Union Pacific proposes $85bn merger with Norfolk Southern to create first US transcontinental network; STB nod seen as key hurdle
Photo credit- AP Union Pacific on Tuesday announced an $85 billion proposal to acquire Norfolk Southern, a move that would create the first coast-to-coast freight railroad in the US and could potentially trigger a final wave of consolidation in the rail industry. The merger would link Union Pacific's vast network across the western US with Norfolk Southern's operations in 22 eastern states and the District of Columbia. While the US has been connected by rail since 1869, no single company has ever operated a unified transcontinental route, AP reported. Union Pacific said the deal would streamline logistics by removing delays that occur when goods are handed off between carriers, enhancing delivery speed and reliability. 'It builds upon President Abraham Lincoln's vision of a transcontinental railroad from nearly 165 years ago, and will usher in a new era of American innovation,' said Union Pacific CEO Jim Vena. Under the proposal, Norfolk Southern shareholders would receive $88.82 in cash and one Union Pacific share for each share held — valuing NS at about $320 a share. Norfolk Southern's stock closed at just over $260 earlier this month before reports of a potential deal emerged. Following the announcement, Union Pacific shares slipped nearly 2% to $224.98 in premarket trade, while Norfolk Southern fell over 3% to $277.40. Regulatory approval from the US Surface Transportation Board (STB) will be critical. The STB, currently split 2-2 between Republicans and Democrats, has been cautious in recent years, with the fallout from past mergers—such as Union Pacific's 1996 tie-up with Southern Pacific—prompting stricter oversight. President Trump is expected to appoint a fifth member before the deal is reviewed. If approved, the deal could intensify pressure on rivals BNSF and CSX to pursue their own consolidation. Analysts say the move could reshape US freight logistics, particularly if Canadian players like CN or CPKC enter the fray. The Canadian rails already have cross-border networks feeding into US trade flows, with CPKC extending into Mexico. Some shippers, including chemical firms in the Gulf, may oppose the deal over monopoly concerns. Others, like Amazon and UPS, may back it if it improves delivery timelines and reliability. The STB will consider inputs from unions, customers, and local communities before issuing a verdict. Union Pacific said the combined entity could generate $1.75 billion in new annual revenue and eliminate $1 billion in costs. It also assured that no union jobs would be lost. Norfolk Southern CEO Mark George said the companies would spend the next two years preparing integration plans. 'We're committed to making sure [congestion] doesn't happen in this case,' he said, referring to past disruptions caused by major rail mergers. The last major US rail deal was approved two years ago, when Canadian Pacific acquired Kansas City Southern to form CPKC. That $31 billion merger created a network spanning Canada, the US, and Mexico. On Tuesday, Norfolk Southern posted a Q2 profit of $768 million, or $3.41 per share, up from $737 million a year ago. Adjusted EPS stood at $3.29, narrowly missing analyst expectations of $3.31. Volumes rose 3% year-on-year, but the quarter included one-time costs linked to the 2023 East Palestine derailment and internal restructuring. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
