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Daily Headlines
Teamsters file lawsuit against Flexjet, Flight Options
(Source: International Brotherhood of Teamsters press release, April 12, 2016) RICHMOND HEIGHTS, Ohio — The International Brotherhood of Teamsters, Teamsters Airline Division and Local 1108 have filed a lawsuit against Flexjet and Flight Options, stating that the...
NJ Transit is recording the conversations of its riders
(Source: www.nj.com, April 10, 2016) NEWARK, N.J. — Casual commuter conversations on light rail trains have an unexpected eavesdropper — NJ Transit. Video and audio surveillance systems designed to make riders more secure are also recording the conversations of light...
Court rules BNSF did not violate federal disability law by refusing to hire obese worker
(Source: Business Insurance, April 12, 2016) WASHINGTON, D.C. — An employer did not violate the federal Americans with Disabilities Act when it rescinded a job offer to a man who was considered too obese to qualify for work under the company's employment policies, the...
Here we go again: More talk of KCS take over
(Source: Kansas City Business Journal, April 12, 2016) KANSAS CITY, Mo. — With the collapse of Canadian Pacific Railway Ltd.’s $28 billion takeover bid for Norfolk Southern Corp., speculation again has turned to Kansas City Southern, Reuters reports. Full story:...
Utilities breathe easy after CP drops NS takeover bid
(Source: Energywire, April 12, 2016) WASHINGTON, D.C. — Midwestern coal shippers can breathe a sigh of relief as a proposed rail merger fizzled out yesterday, burying fears about potential costs and delays. Full story: Energywire
Opinion: See ya later, what’s-your-name
(Source: Railway Age opinion column by William c. Vantuono, April 11, 2016) NEW YORK — Well, it’s all over but the ruminating and regurgitating: Hedge fund king Bill Ackman had his blinders ripped off, read the handwriting on the wall, and wisely deep-sixed his...
Commodities grind spells trouble for railroads
(Source: Bloomberg, April 12, 2016) NEW YORK — With any path to railroad mergers blocked for now, the largest U.S. carriers will have to rely on cost cuts and better service to boost profit. Judging by the first-quarter earnings forecasts, it will be a long slog. Full...
CP Rail CEO says the deck is stacked against U.S. rail mergers
(Source: Business News Network, April 11, 2016) OTTAWA — The CEO of Canadian Pacific Railway says the swell of powerful opposition to the proposed takeover of Norfolk Southern ultimately convinced him that the US$28-billion bid for the Virginia-based railway would...
CSX faces uphill climb in 2016
(Source: Motley Fool, April 12, 2016) NEW YORK — Railroads have been a casualty of the rapid change in the energy markets, with the emergence of cheap natural gas putting a huge dent in the demand for rail shipments of coal. CSX and Norfolk Southern have substantial...
CSX earnings down in 1Q 2016
(Source: CSX press release, April 12, 2016) JACKSONVILLE, Fla. — CSX Corporation today announced first quarter 2016 net earnings of $356 million, or $0.37 per share, down from $442 million, or $0.45 per share, in the same period of last year. “As we managed through...
