Rail Industry News
Teamsters union collects 34,500 pounds of food for needy families
(Source: Bangor Daily News, July 26, 2012) FORT FAIRFIELD, Maine — It was another banner year for members of the South Portland-based Teamsters Local 340, as they once again brought in a staggering amount of goods during a statewide food drive to benefit Aroostook...
CP Rail proxy fight price tag hit $55 million
(Source: Toronto Star, July 15, 2012) TORONTO — The bitter proxy fight for control of CP Rail carried a $55 million price tag, including $13 million in costs and $42 million in expenses specifically related to hiring Hunter Harrison as CEO. Details were released as CP...
Norfolk Southern profit up despite coal drop
(Source: Reuters, July 24, 2012) NEW YORK — Railroad company Norfolk Southern Corp (NSC.N) reported a higher quarterly profit and flat revenue, with increased general merchandise and intermodal revenue offsetting a double-digit drop in revenue from coal. The coal...
STB acts to improve ways to protect captive shippers from unreasonable rates
(Source: Surface Transportation Board press release, July 25, 2012) WASHINGTON, D.C. — The Surface Transportation Board (Board) announced today two initiatives to explore ways to further protect captive shippers from unreasonable rail rates. First, the Board proposes...
RailAmerica reports 2Q 2012 results
(Source: RailAmerica press release, July 25, 2012) JACKSONVILLE, Fla. — RailAmerica, Inc. today reported financial results for the quarter ended June 30, 2012. Second quarter 2012 revenue increased 12% to $156.1 million from $139.2 million in the second quarter of...
Amtrak plans $7 billion upgrade of Union Station in Washington, D.C.
(Source: Reuters, July 25, 2012) WASHINGTON, D.C. — Amtrak, the U.S. passenger plans a $7 billion expansion of Washington, D.C.'s Union Station with the goal of making it a high-speed rail and commercial hub, Amtrak said on Wednesday. The proposal calls for doubling...
Canadian Pacific announces second-quarter 2012 results
(Source: Canadian Pacific Railway press release, July 25, 2012) CALGARY, Alberta — Canadian Pacific Railway Limited announced its second-quarter 2012 results today with reported net income of $103 million and diluted earnings per share of $0.60, inclusive of the...
CN reports Q2 2012 net income of C$631 million, or C$1.44 per diluted share
(Source: CN press release, July 25, 2012) MONTREAL — CN today reported its financial and operating results for the second quarter and six-month period ended June 30, 2012. Second-quarter 2012 highlights: • Net income was C$631 million, or C$1.44 per diluted share,...
Norfolk Southern reports second-quarter earnings
(Source: Norfolk Southern press release, July 24, 2012) NORFOLK, Va. — For the second quarter of 2012, Norfolk Southern reported net income of $524 million, 6 percent lower than $557 million for the second quarter 2011. Diluted earnings per share were an all-time...
Deadline to register for 2012 Teamster Women’s Conference is July 23
(Source: International Brotherhood of Teamsters press release, March 13, 2012) WASHINGTON, D.C. — The 2012 Teamster Women’s Conference will be held August 23-25, 2012 at the Hilton San Francisco Union Square in San Francisco, Calif. The opening session will be held...
DOT announces $787 million to repair, modernize nation’s aging transit infrastructure
(Source: U.S. Department of Transportation press release, July 23, 2012) WASHINGTON – U.S. Transportation Secretary Ray LaHood today announced $787 million that will put Americans to work modernizing and replacing aging transit facilities and vehicles to meet the...
Durbin urges railroads to do more inspections
(Source: Associated Press, July 22, 2012) CHICAGO — U.S. Sen. Dick Durbin is urging railroad companies to conduct frequent track inspections to prevent rail derailments resulting from heat-related track buckling. The Illinois Democrat's remarks during a Sunday press...
Oregon dairy workers join Teamsters
(Source: International Brotherhood of Teamsters press release, July 20, 2012) WASHINGTON, D.C. — Dairy workers with YoCream International Inc., a division of global French food group Danone SA, have voted overwhelmingly to join Teamsters Local 305 in Portland, Ore.,...
Hoffa talks about outsourcing on The Ed Show
(Source: The Ed Show, MSNBC, July 21, 2012) WASHINGTON, D.C. — Last week, Teamsters General President Jim Hoffa talked with Ed Schultz about the presidential campaign. He said Mitt Romney doesn't see anything wrong with closing down a plant and moving it to Mexico....
Railroad operator Genesee & Wyoming plans to buy RailAmerica for about $1.39 billion
(Source: Associated Press, July 23, 2012) GREENWICH, Conn. — Genesee & Wyoming said Monday that it will buy RailAmerica for about $1.39 billion in a deal that combines the two largest short-line and regional rail operators in North America. The combined company will...
OSHA finds two more railroads in violation of whistleblower law, fines exceed $650,000
(Source: OSHA press release, July 19, 2012) CHICAGO — The U.S. Department of Labor has ordered two railroad companies to pay three workers a total of $650,729.14 in back wages and damages for retaliating against them for reporting workplace injuries and safety...
OSHA, Federal Railroad Administration sign agreement to protect workers from retaliation
(Source: OSHA press release, July 17, 2012) WASHINGTON, D.C. — The U.S. Department of Labor’s Occupational Safety and Health Administration and the U.S. Department of Transportation’s Federal Railroad Administration have signed a memorandum of agreement to facilitate...
Union Pacific reports best-ever quarterly results in 2Q 2012; Earnings up 32 percent
(Source: Union Pacific press release, July 19, 2012) OMAHA, Neb. — Union Pacific Corporation today reported 2012 second quarter net income of $1 billion, or $2.10 per diluted share, compared to $785 million, or $1.59 per diluted share, in the second quarter 2011....
CSX announces 2Q 2012 results; 10th consecutive quarter of year-over-year earnings growth
(Source: CSX press release, July 17, 2012) JACKSONVILLE, Fla. — CSX Corporation today announced second quarter net earnings of $512 million, or $0.49 per share, versus $506 million, or $0.46 per share, in the same period last year. This represents a 7 percent...
Kansas City Southern reports record second quarter revenues, operating ratio and operating income
(Source: Kansas City Southern press release (PDF), July 17, 2012) KANSAS CITY, Mo. —Kansas City Southern (KCS) reported second quarter 2012 revenues of $545 million, an increase of 2% over second quarter 2011 on a 4% increase in carloads. Second quarter 2012...
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