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Daily Headlines
Will rail industry go from 7 Class I railroads to 4?
(Source: Railway Age, December 17, 2015) NEW YORK — According to Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl, “The addition of a contingent value right (CVR) is Canadian Pacific’s way of providing Norfolk Southern...
Many possible pitfalls await CP Rail’s merger bid
(Source: Reuters, December 17, 2015) CHICAGO — Canadian Pacific Railway’s $27 billion bid for Norfolk Southern Corp risks coming unstuck due to regulatory scrutiny of its impact on the U.S. rail market, in particular the possibility it could spark competition-crushing...
UP warns CP-NS merger could increase Chicago rail gridlock
(Source: Bloomberg, December 17, 2015) NEW YORK — Union Pacific Corp. jumped into the debate over railroad consolidation by saying that Canadian Pacific Railway Ltd.’s proposed takeover of Norfolk Southern Corp. risks adding to gridlock at the industry’s crucial...
PTC: The life-saving technology that Congress isn’t fully funding
(Source: The Atlantic, December 17, 2015) WASHINGTON, D.C. — The derailment of Amtrak train 188 in Philadelphia earlier this year, which killed eight people, introduced many Americans to a safety technology that could have prevented the crash in the first place:...
Opinion: To save lives, push railroads to meet new PTC deadline
(Source: Opinion column by Christopher Hart in the Philadelphia Inquirer, December 18, 2015. Mr. Hart is Chairman of the National Transportation Safety Board.) PHILADELPHIA — During this holiday season, millions of Americans will ride on passenger railroads to be with...
CSX to release 4Q 2015 earnings statement on January 12, 2016
(Source: CSX press release, December 16, 2015) JACKSONVILLE, Fla. — CSX Corporation will release fourth-quarter financial and operating results on Tuesday, January 12, 2016, after the market close. The company will host an earnings conference call from 8:30 a.m. to...
SEC investigating unusual 2012 stock trading at oil train loading company
(Source: Minneapolis Star Tribune, December 16, 2015) MINNEAPOLIS — Federal authorities have been investigating a price spike in the stock in a Minnesota-based oil train loading company after it went public in 2012, resulting in a windfall for investors who held...
Mexican activists claim private railroad guards killed migrants
(Source: Associated Press, December 16, 2015) MEXICO CITY — Mexican rights activists said Wednesday they have reports of three cases in which private railroad guards have killed migrants trying to ride freight trains to the U.S. border. Full story: Kansas City Star
Senate confirms Tony Coscia and Derek Kan to Amtrak Board of Directors
(Source: Amtrak press release (PDF), December 16, 2015) WASHINGTON, D.C. — Tony Coscia and Derek Kan were recently confirmed by the Senate to serve terms on the Amtrak board of directors. Coscia, currently the Chairman of the board of directors, was appointed to...
Suspected vandalism of freight train causes Amtrak delays in Richmond, Va.
(Source: Television station WTVR, December 17, 2015) RICHMOND, Va. — The vandalization of a freight train was responsible for multiple Amtrak delays on Wednesday, according to a source. Full story and video: www.wtvr.com
