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Daily Headlines
CSX executive shakeup rattles employees and investors; shares drop
(Source: Reuters, October 26, 2017) NEW YORK — The resignation of two prominent female executives at CSX Corp. hours before CSX canceled a long-planned investor conference this week rattled employees and investors on Thursday, sending the No. 3 U.S. railroad’s shares...
AAR: Rail traffic up 3% over 2016 for week ending October 21
(Source: Association of American Railroads press release, October 25, 2017) WASHINGTON, D.C. — The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending October 21, 2017. For this week, total U.S. weekly rail traffic was 559,989...
Federal bills aim to stop exploitation of truckers
(Source: USA Today, October 24, 2017) WASHINGTON, D.C. — House Democrats will introduce two federal bills Thursday aimed at cracking down on port trucking companies that have for years exploited their workforce with lease-to-own contracts that forced drivers to work...
Des Moines rail facility could hold key to cheaper shipping options
(Source: Des Moines Register, October 25, 2017) DES MOINES, Iowa — Twelve acres on Des Moines' southeast side could hold the key to cheaper shipping options for central Iowa businesses. Full story: Des Moines Register
CN on hiring spree after being surprised by laid-off workers passing on jobs
(Source: Canadian Press, October 25, 2017) MONTREAL — Canadian National Railways is on a hiring spree particularly in Western Canada, several years after a slowdown in demand prompted layoffs. Full story: www.cbc.ca
Norfolk Southern hauls in 10 percent higher profit in 3Q 2017
(Source: Associated Press, October 25, 2017) OMAHA, Neb. — Norfolk Southern Corp. delivered a 10 percent increase in third-quarter profit as the railroad hauled 4 percent more freight and continued working to limit its expenses. Full story: www.usnews.com
CSX announces executive management changes
(Source: CSX press release, October 25, 2017) JACKSONVILLE, Fla. — CSX Corporation today announced that James M. Foote is joining the company as chief operating officer. Mr. Foote will have responsibility for both operations and sales and marketing and will be based...
CSX cancels investor conference; share price drops
(Source: Railway Age, October 26, 2017) NEW YORK — CSX management has cancelled its Oct. 30 Investor Day the event with little explanation. “We have received many incoming calls and emails from concerned investors who are worried what else could be behind management...
Train inspector lacked experience and training, Lac-Megantic trial hears
(Source: CBC News, October 25, 2017) MONTREAL — A former train inspector with Montreal, Maine and Atlantic (MMA) railway said he never checked to see if the train's previous engineer had noted any defects with the locomotive the morning before the 2013 rail disaster...
Union Pacific reports 3Q 2017 results
(Source: Union Pacific press release, October 26, 2017) OMAHA, Neb. — Union Pacific Corporation today reported 2017 third quarter net income of $1.2 billion, or a $1.50 per diluted share. This compares to $1.1 billion, or $1.36 per diluted share, in the third quarter...
