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Daily Headlines
CP approached CSX about possible merger while pursuing NS
(Source: Associated Press, March 2, 2016) OMAHA, Neb. — Canadian Pacific reportedly approached the CSX railroad about a possible merger earlier this year while it continued to pursue its proposed takeover of rival Norfolk Southern. Full story: The Republic
NTSB says defective rail likely caused 2014 Lynchburg oil train derailment
(Source: Lynchburg News & Advance, March 2, 2016) LYNCHBURG, Va. — The derailment of a train carrying highly volatile crude oil in downtown Lynchburg two years ago would not have occurred if CSX Transportation had time to carry out the recommendations of a working...
FedEx Freight raises concerns over CP bid for NS
(Source: Reuters, March 3, 2016) NEW YORK — A unit of FedEx Corp has raised concerns over Canadian Pacific's bid for Norfolk Southern saying it could hurt rail service and lead to higher shipping costs, according to a letter posted by a U.S. federal rail regulator on...
Hunter Harrison paid nearly $20 million in 2015 as CP’s stock slipped
(Source: Globe and Mail, March 1, 2016) TORONTO — Hunter Harrison, chief executive officer of Canadian Pacific Railway Ltd., was paid $19.9-million in 2015, a year in which the company’s shares fell by 20 per cent amid a sell-off in railway shares. The compensation...
SEC filings show Norfolk Southern’s CEO got 34.6% raise in 2015
(Source: Virginian-Pilot, March 1, 2016) NORFOLK, Va. — James Squires, president, CEO and chairman of Norfolk Southern Corp., saw the value of his pay package climb 34.6 percent last year. His compensation rose to $7.98 million from $5.93 million a year earlier,...
Legislation would ease border delays for Amtrak
(Source: Albany Times Union, March 1, 2016) ALBANY, N.Y. — U.S. Rep. Elise Stefanik an U.S. Senators Charles E. Schumer and Kirsten Gillibrand on Tuesday announced legislation that would permit U.S. Customs and Border Protection officers to pre-clear passengers on...
Money, train tickets stolen from BNSF crew facility in Aurora, Ill.
(Source: The Beacon-News, March 1, 2016) AURORA, Ill. — A backpack containing money, train tickets and more was stolen from a BNSF Railway crew facility in Aurora Monday Full story: The Beacon-News
How gas prices are driving Amtrak’s ridership problems
(Source: Philadelphia Inquirer, March 2, 2016) PHILADELPHIA — A cursory look at the past 15 years of gas prices, as compared to Amtrak ridership, shows a surprisingly consistent correlation between the two. Full story: Philadelphia Inquirer
BNSF posts 10 percent net income gain in 2015
(Source: Progressive Railroading, March 1, 2016) BNSF Railway Co. closed out 2015 with a 5 percent decrease in total annual revenue, but a 10 percent increase in net income compared with 2014's results, the Class I announced on its website yesterday. BNSF's 2015 net...
Dozens of homes evacuated after NS train derails and spills ethanol in New York
(Source: Reuters, March 2, 2016) RIPLEY, N.Y. — Dozens of residents in western New York town were evacuated from their homes early on Wednesday after a train carrying hazardous liquid derailed, local officials said. Sixteen cars of the 34-car Norfolk Southern train...
