Rail Industry News
Ackman wins proxy fight at Canadian Pacific Railway
(Source: New York Times, May 18, 2012) OTTAWA — In a blow to Canada’s business establishment, the activist investor William A. Ackman won his proxy battle for control of the Canadian Pacific Railway, one of the country’s oldest and most prominent companies. Full...
Possible TCRC strike is first challenge awaiting CP Rail’s new management team
(Source: Alberta Farmer Express, May 17, 2012) CALGARY, Alberta — Canadian Pacific Railway's new Board of Directors could hit its first obstacle as early as Wednesday, when the railway's unionized engineers, conductors, traffic controllers, trainmen and yardmen...
Environmentalists alarmed by coal export plans
(Source: Portland Tribune, May 17, 2012) PORTLAND, Ore. — After years of lobbying, Portland environmentalists won a remarkable victory in 2010 when Portland General Electric consented to halt coal-burning by 2020 at its Boardman power plant -- the single-largest...
Volatile gas prices drive Americans to ride trains, buses, study says
(Source: Progressive Railroading, May 16, 2012) Record numbers of Americans will use public transportation to save money in response to volatile gas prices, according to a new study by the American Public Transportation Association (APTA) and Building America’s Future...
Railroad stocks mixed at close of May 16 trading
(Source: Associated Press, May 16, 2012) NEW YORK — Shares of some top railroad companies were mixed at the close of trading on May 16, including CSX, which rose 0.1 percent, and Union Pacific, which fell 0.4 percent. Full story: CBS News
California Senator seeks U.S. commitment on high-speed rail
(Source: Associated Press, May 17, 2012) SACRAMENTO, Calif. — The leader of the California Senate called Wednesday on the Obama administration to say now whether it will commit more federal money to the state’s high-speed rail project if the president wins a second...
Teamsters may strike Smuckers over seniority issues
(Source: International Brotherhood of Teamsters press release, May 16, 2012) CLEVELAND — More than 270 Teamsters who work at the J.M. Smucker Company announced today that they may strike the Orrville, Ohio jelly maker. The workers, represented by Teamsters Local 436...
FRA aims to widen rail worker drug tests
(Source: Bloomberg News, May 17, 2012) WASHINGTON, D.C. — The Federal Railroad Administration, in a proposed rule published Wednesday in the Federal Register, wants to expand post-accident drug testing for railroad workers to include prescription and over-the-counter...
Resignation of CP Rail CEO, Chairman a clear victory for dissident Ackman
(Source: Reuters, May 17, 2012) NEW YORK — Canadian Pacific Railway Ltd Chief Executive Fred Green resigned on Thursday, handing activist shareholder William Ackman a clear victory after a bruising proxy battle for control of Canada's second biggest railroad. Full...
New dawn at Canadian Pacific Railway following major management shift
(Source: Globe and Mail, May 17, 2012) TORONTO — The board and management of Canadian Pacific Railway Ltd. buckled at the 11th hour today, heading off what was shaping up to be a humiliating defeat in a proxy battle in Calgary. Fred Green is stepping down as chief...
CEO Fred Green retires as Canadian Pacific announces Board and Management changes
(Source: Canadian Pacific press release, May 17, 2012) CALGARY, Alberta — Canadian Pacific Railway announced today the departure of Fred Green as President and Chief Executive Officer effective immediately. Mr. Green leaves the Company following 34 years of dedicated...
Railroad stocks mixed at close of May 15 trading
(Source: Associated Press, May 15, 2012) NEW YORK — Shares of some top railroad companies were mixed at the close of trading, including Norfolk Southern, which fell 0.2 percent, and Union Pacific, which rose 1.2 percent. Full story: CBS News
Cleanup of petroleum-tainted sediment to begin on Whitefish Lake
(Source: The Missoulian, May 15, 2012) WHITEFISH, Mont. — Cleanup crews are scheduled to begin dredging the bottom of Whitefish Lake next week to remove contaminated sediment left from a train car derailment in 1989, when tens of thousands of gallons of diesel fuel...
Railroad coal traffic update: Domestic volumes are down, but demand for export coal is up
(Source: Progressive Railroading, May 16, 2012) How is each Class I faring with its domestic coal business? That's a question many analysts and rail industry observers sought an answer to after the large roads reported their first-quarter financial results last month....
BNSF plans rail maintenance improvements in Missouri, Kansas
(Source: BNSF press releases, May 15, 2012) FORT WORTH, Texas — BNSF Railway Company (BNSF) plans to invest an estimated $130 million on maintenance and rail capacity improvement projects in Missouri this year. BNSF will continue its track maintenance program in...
CP Rail proxy battle could have implications for CN
(Source: Financial Post, May 15, 2012) TORONTO — Claude Mongeau, Canadian National Railway Co. chief executive, is not concerned members of his senior executive team might be lured away if his former boss Hunter Harrison is appointed to head of rival Canadian Pacific...
CP Rail still seeks turnaround as proxy battle nears end
(Source: Reuters Canada, May 15, 2012) TORONTO/VANCOUVER — Storied Canadian Pacific Railway Ltd faces tough challenges as a grueling proxy battle nears its end, and a likely new boss must meet investors' high expectations as well as keeping staff and employees happy...
California bullet train chief seeks environmental exemptions
(Source: Los Angeles Times, May 16, 2012) LOS ANGELES — The chief of the state bullet train authority said Tuesday that he hopes to obtain some type of relief from environmental laws that would eliminate a risk that the 130-mile initial construction project could be...
Tens of thousands turned out for 5th Annual National Train Day celebrations across America
(Source: Amtrak press release, May 14, 2012) NEW YORK — Tens of thousands of fans turned out on Saturday, May 12 for the 5th Annual National Train Day, a celebration of trains and the different ways trains touch the lives of people. Amtrak signature events took place...
Opinion: Playing by rigged rules, pretending to be fair
(Message by James P. Hoffa, General President, International Brotherhood of Teamsters, published In The Detroit News on May 9, 2012) WASHINGTON, D.C. — There’s nothing funny about a factory closing, unless you’re Mitt Romney. While campaigning in Wisconsin recently,...
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