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Daily Headlines
FRA releases list of railroad crossings with most incidents over last decade
(Source: Federal Railroad Administration press release, April 21, 2016) WASHINGTON, D.C. — As the next step in its ongoing efforts to increase safety at railroad crossings, the U.S. Department of Transportation’s Federal Railroad Administration (FRA) today released a...
Hunter Harrison says rail mergers will happen, but not until after he retires
(Source: Financial Post, April 21, 2016) TORONTO — The collapse of Canadian Pacific Railway Ltd.’s bid for Norfolk Southern Corp. has done nothing to dissuade the company’s outspoken CEO that railway consolidation must and will happen. Full story: Financial...
UP may cut 2016 capital expenditures
(Source: Reuters, April 21, 2016) NEW YORK — No. 1 U.S. railroad Union Pacific Corp said on Thursday that it was trimming its planned capital expenditures for 2016 by 2 percent and could further cut investments depending on demand in a weak freight market across most...
UP details 11 percent payroll cut, focus on efficiency
(Source: Omaha World-Herald, April 22, 2016) OMAHA, Neb. — Union Pacific executives said Thursday that they have trimmed the payroll by 11 percent in the past year and that they expect company workers to be even more efficient in the face of plummeting demand for...
Union Pacific logs 15% drop in 1Q 2016
(Source: Associated Press, April 22, 2016) OMAHA, Neb. — Union Pacific's first-quarter profit fell 15 percent, hit by a steep decline in the amount of freight hauled as a result of weak energy and commodity prices. The railroad based in Omaha, Neb., said Thursday that...
NS reports strong first quarter 2016 results
(Source: Norfolk Southern press release, April 21, 2016) NORFOLK, Va. — Norfolk Southern Corporation today reported financial results for first-quarter 2016. Net income for the quarter was $387 million, 25 percent higher compared with $310 million during the same...
Norfolk Southern’s 1Q 2016 profit jumps 25 percent
(Source: Associated Press, April 21, 2016) OMAHA, Neb. — Norfolk Southern’s first-quarter profit jumped 25 percent thanks to the railroad’s efforts to reduce costs 13 percent as volume slowed. The Norfolk-based railroad said Thursday it earned $387 million, or $1.29...
South Carolina looks at 2nd inland cargo hub along I-95
(Source: Post and Courier, April 20, 2016) CHARLESTON, S.C. — The State Ports Authority, aiming to capitalize on industrial growth along the Interstate 95 corridor, said Wednesday it plans to build an inland port facility at a Dillon commerce park where Harbor Freight...
NJ Transit pick changes his mind
(Source: Associated Press, April 21, 2016) NEWARK, N.J. — The man picked to lead New Jersey Transit decided he does not want the job, just days before he was scheduled to start running the nation's third-busiest commuter railroad. Full story: ABC News
California high-speed rail board to consider latest plans
(Source: Associated Press, April 20, 2016) SAN JOSE, Calif. — The board that oversees California's high-speed rail project to link Northern and Southern California is expected to consider dramatic changes at a meeting Thursday in San Jose. Full story: San Luis Obispo...
