two years. Southern Pacific was sold to Rio Grande Industries for in October 1988, the companies California real estate holdings were spun off into a new company called Catellus Development Corporation which would become the State's largest private landowner, and the former holding company would rename itself Santa Fe Pacific Corporation and retain the Santa Fe Railroad and the remaining the non-railroad businesses of both predecessors. In 1995, the Santa Fe railroad merged with Burlington Northern to form BNSF Railway, and the Southern Pacific was acquired by the Union Pacific Corporation the following year. "Kodachrome" paint scheme The Santa Fe Southern Pacific Corporation was so confident the merger would be approved, the company began repainting their locomotives into a new unified paint scheme that would allow the future railroad to be called the SPSF Railway. Because the railroads were legally required to operate separately, the paint scheme included the letters SP or SF and an adjacent empty space where the other two letters could be added after the merger was approved. The locomotive livery was based on the Santa Fe's Yellowbonnet with a red stripe on the locomotive's nose; the remainder of the locomotive body was painted in Southern Pacific's scarlet red (from their Bloody Nose scheme) with a black roof and black extending down to the lower part of the locomotive's radiator grills. The number boards were red with white numbers. In large block letters within the red portion of the sides was either "SP" (for Southern Pacific-owned locomotives) or "SF" (for Santa Fe-owned locomotives). This paint scheme, combining yellow, red and black, has come to be called the Kodachrome paint scheme due to the colors' resemblance to those on the boxes that Kodak used to package its Kodachrome slide film (which was heavily used by railfans of the time). After the ICC's denial, railroad industry writers, employees of both railroads and railfans alike joked that SPSF really stood for "Shouldn't Paint So Fast". The lettering was positioned on the locomotive sides so that the other half of the lettering could be added after the merger became official. Two ATSF EMD SD45-2s (ATSF #7219 and #7221) were painted with the full SPSF lettering to show what the unified paint scheme would look like after the merger was complete. One Santa Fe caboose was also painted with "SPSF" in a similar situation. At the time of merger denial, approximately 306