Raymond A. Atkins Ph.D.

RAYMOND ATKINS advises transportation companies on industry-defining transactions, regulatory proceedings, and disputes. Before joining Sidley, he served as General Counsel of the Surface Transportation Board. He also holds a Ph.D. in economics, bringing a distinctive combination of regulatory, economic, and strategic insight to complex transportation matters. Clients turn to Ray for matters that require sophisticated advocacy and a deep understanding of the transportation industry’s regulatory and commercial landscape.

“Ray provides common-sense and down-to-earth advice on a wide variety of topics. He has a knack for simplifying and brilliantly arguing very complex cases.”
Chambers USA 2026

Ray is a leader of Sidley’s nationally recognized Transportation practice. For 20 consecutive years, the firm’s Rail practice has earned a top-tier ranking from Chambers USA in Nationwide Transportation: Rail (for Railroads), and it is also recognized by The Legal 500 United States for Rail and Road—Litigation and Regulation. Clients describe the group as “second to none,” with “a broad bench of experts, who are analytical and forward-thinking on a variety of matters in the rail space” (Chambers USA 2025).

Ray represents some of the nation’s largest transportation companies wherever their most consequential matters arise. His work includes handling transactions of national significance, guiding clients through complex rulemakings and regulatory disputes, defending clients in government investigations, representing clients in private arbitrations, and successfully arguing dozens of appeals. Across these matters—whether transactional, regulatory, or litigation-focused—clients rely on Ray’s clear advocacy, regulatory judgment, and economic insight to help solve complex legal problems in ways that advance their business objectives.

Ray’s approach is informed by both his legal training and his Ph.D. in economics, allowing him to evaluate regulatory strategy through the lens of litigation risk, agency decision-making, operational realities, and economic impact. He regularly draws on that background to craft practical, data-driven solutions for transportation companies facing complex regulatory and commercial challenges.

Ray joined Sidley in 2013 after serving as General Counsel of the Surface Transportation Board (STB), the independent federal agency responsible for regulating interstate freight and passenger railroads, as well as certain pipeline, motor, and water carriers. At the STB, he represented the agency in more than 50 appeals before the U.S. Courts of Appeals, experience that continues to inform his advocacy before regulators and courts.

Recognitions and Honors

Ray’s exceptional legal work has earned him widespread recognition, including:

• Honored as “Transportation MVP” by Law360 (2025)
• Band 1 ranking from Chambers USA in Transportation: Rail (for Railroads)—Nationwide (2015–2026).
• Named a “Best Lawyer” by U.S. News (2019), “Lawyer of the Year” in Transportation law (2019), and recognized for Transportation law (2026) by The Best Lawyers in America®.
• Honored as a “Client Service All-Star” by BTI Consulting Group (2020), a distinction based solely on feedback from corporate counsel for his client service.

Regulatory Disputes and Litigation Highlights

• Union Pacific-Norfolk Southern Combination: Represents Norfolk Southern before the Surface Transportation Board in connection with the proposed combination with Union Pacific, one of the most closely watched and consequential rail transactions in North America.
• Union Pacific Railroad – Terminal Trackage Rights Dispute (STB Docket No. FD 36844): Lead counsel representing Union Pacific before the Surface Transportation Board in a high-stakes proceeding initiated by Metra seeking terminal trackage rights for passenger operations in Chicago. Successfully defeated Metra’s request for emergency relief in federal court and before the STB, while continuing to represent Union Pacific in related proceedings concerning operating terms, compensation, and companion federal litigation.
• Norfolk Southern – Wylie Intermodal Terminal Arbitration: Representing Norfolk Southern in litigation against Kansas City Southern Railway, a subsidiary of Canadian Pacific Kansas City, concerning the acquisition of an intermodal rail terminal in Wylie, Texas. The arbitration will determine the correct scope of the Wylie Terminal, a critical hub for intermodal traffic moving between the Southeast, Texas, and beyond.
• Gulf Coast Passenger Rail Service Dispute (STB Docket No. FD 36496): Served as trial counsel in a groundbreaking 11-day regulatory hearing before the STB regarding Amtrak’s proposed passenger service restoration on the Gulf Coast—the first hearing of its kind under 49 U.S.C. § 24308(e). Negotiated and helped implement a comprehensive settlement securing federal funding for key infrastructure projects and allowing passenger service to proceed without impairing freight operations.

Notable Appellate and Constitutional Litigation

• Grand Trunk Corp. v. STB, 4th Cir. (2025): Successfully secured a precedent-setting Seventh Circuit decision vacating the Surface Transportation Board’s reciprocal switching rule, preserving key operational protections for rail carriers.
• Norfolk Southern Ry. Co. v. State Corp. Commission, Virginia Supreme Court (2025): Achieved a major constitutional victory on behalf of Norfolk Southern, with the Virginia Supreme Court striking down a state crossings statute that allowed private parties to seize railroad property. The ruling reaffirmed fundamental property rights under state law.
• Union Pacific Railroad, 8th Cir. (2024): Prevailed in a challenge to federal regulators’ refusal to license the use of international crews at the U.S./Mexico border. After opening briefs, the federal government relented and bolstered cross-border operational rights.
• CSX Transportation, 11th Cir.: Represents CSX in an appeal before the Eleventh Circuit involving the STB’s revocation of a trail-use permit under the Rails-to-Trails program—a case with wide-ranging implications for rail corridor preservation and reactivation (pending).
• Association of American Railroads, 4th Cir. (2025): Represented the Association of American Railroads in a significant federal preemption and associational standing appeal challenging a Virginia broadband-crossing statute targeting the rail industry. The Fourth Circuit reversed the district court’s dismissal in part, holding that AAR had standing to pursue its facial ICCTA preemption challenge and remanding the case for further proceedings.
• Skidmore v. Norfolk Southern Ry., 4th Cir. (2021): Persuaded the Fourth Circuit that a state tort claim for adverse possession of railroad property was completely preempted by federal law, enabling removal to federal court and reinforcing the preemptive force of national rail policy.
• BNSF Ry. Co. v. California Dept. of Tax & Fee Admin., 9th Cir. (2018): Successfully upheld a preliminary injunction blocking a state-imposed hazmat fee on rail carriers. The Ninth Circuit affirmed that the fee violated federal law governing rail transportation, protecting railroad clients from discriminatory financial burdens.
• State v. Norfolk Southern Ry. Co., Illinois Supreme Court (2018): Secured a reversal from the Illinois Supreme Court, which held that a state blocked-crossing statute was unconstitutional under federal law as applied to railroads. The decision reinforced the supremacy of federal law in regulating rail operations.

Investigations and Federal Rulemakings

• United States v. Norfolk Southern – DOJ Litigation: Represented Norfolk Southern in a first-of-its-kind DOJ case concerning Amtrak passenger-train preference rights on the Crescent Route. After extensive motion practice and negotiations, the matter resolved through a settlement that avoided broader disruptive operational mandates and clarified the parties’ obligations.
• Post-Pandemic Freight Rail Service Oversight (STB Docket No. EP 770, Sub-No. 1): Participated in regulatory hearings focused on service and logistics issues emerging in the wake of the COVID-19 pandemic, advising clients on responsive reporting and performance frameworks.
• Reciprocal Switching Rulemaking and Appeal (STB Docket No. EP 711, Sub-No. 1): Represented three Class I freight railroads in a landmark Seventh Circuit victory vacating the Surface Transportation Board’s reciprocal switching rule, holding that the agency exceeded its statutory authority by authorizing forced switching arrangements without a finding of inadequate rail service.
• Reverse Demurrage Petition (STB Docket No. EP 768): Counsel to carriers opposing a proposed rule that would mandate railroads pay financial penalties (reverse demurrage) for delayed private railcar shipments—a potentially precedent-setting cost-shifting proposal (pending).
• Final Offer Rate Review Proposal (STB Docket No. EP 755): Advised freight railroads in opposition to an agency proposal to establish a formal final-offer rate review mechanism—a process change that could significantly alter rate dispute adjudications.
• Voluntary Arbitration Framework (STB Docket No. EP 765): Representing a coalition of four carriers in jointly proposing a voluntary arbitration program designed to resolve small rate disputes efficiently, without formal litigation (pending).
• Revenue Adequacy Benchmarking (STB Docket No. EP 766): Co-authored a joint petition proposing a modernized, benchmarking-based methodology for determining the financial health of rail carriers—a policy-shaping initiative with industry-wide implications.
• Train Crew Size Safety Regulations (FRA Docket ID: FRA-2021-0032): Engaged in rulemaking proceedings concerning proposals to mandate two-person crews on freight locomotives, raising key issues of operational flexibility and safety oversight.
• Rail Cost of Capital Methodology (STB Docket No. EP 664, Sub-No. 4): Lead counsel in technical rulemaking proceedings to revise how the STB calculates the railroad industry’s cost of capital, including the use of Capital Asset Pricing Models and multi-stage Discounted Cash Flow Models.

• American Bar Association
• Association of Transportation Law Professionals
• District of Columbia Bar
• Federal Bar Association