Rail Industry News
48 SEPTA workers win $172 million Powerball lottery
(Source: Philadelphia Inquirer, April 27, 2012) PHILADELPHIA — A group of 48 workers at SEPTA headquarters in Philadelphia won the $172.7 million jackpot in Wednesday’s Powerball drawing. The Philadelphia Inquirer reported that the winners work in the agency's finance...
Railroad stocks mixed at close of April 26 trading
(Source: Associated Press, April 26, 2012) NEW YORK — Shares of some top railroad companies were mixed at the close of April 26 trading, including CN, which rose 1.4 percent, and Kansas City Southern, which fell 0.2 percent. Full story: CBS News
Norfolk Southern places order for batteries to power yard locomotive
(Source: Axion Power International Inc. press release, April 26, 2012) NEW CASTLE, Pa. — Axion Power International Inc., the developer of advanced lead-carbon PbC® batteries and energy storage systems, today announced that it has received an order from Norfolk...
EPA agreement with Amtrak brings greater drinking water protections for riders, train crews
(Source: Environmental Protection Agency press release, April 26, 2012) PHILADELPHIA, Pa. — The U.S. Environmental Protection Agency has entered into an agreement with the National Railroad Passenger Corp. (Amtrak) to ensure safe and reliable drinking water for the...
CP Rail demands Ackman retract ‘outrageous’ comments
(Source: Globe and Mail, April 27, 2012) TORONTO — Canadian Pacific Railway Ltd.’s chairman John Cleghorn waded into the escalating war of words with its largest shareholder Bill Ackman by demanding that the activist retract “outrageous” and “false” accusations about...
UP continues double track work through Arizona; Switch yard project on hold
(Source: Explorer News, April 25, 2012) TUCSON, Ariz. — Work on Union Pacific Railroad’s double track effort through Arizona from El Paso to Los Angeles is continuing, with most of the track being laid in Pinal County. However, the railroad’s plans for a larger switch...
CSX Transportation continues fight to avoid paying taxes in Alabama
(Source: Birmingham News, April 26, 2012) BIRMINGHAM, Ala. — Railroad company CSX Transportation Inc. on Wednesday continued its legal fight over whether Alabama's sales tax on diesel fuel discriminates against them. Full story: Birmingham News
Baltimore’s mayor urges CSX to find site in city for freight yard
(Source: Baltimore Sun, April 26, 2012) BALTIMORE, Md. — Mayor Stephanie Rawlings-Blake is urging CSX Transportation to find a site in the city for its multi-million dollar cargo transfer center rather than look for a site in suburbs to the south. In a letter to CSX...
RailAmerica reports first quarter 2012 results
(Source: RailAmerica press release, April 25, 2012) JACKSONVILLE, Fla., — RailAmerica, Inc. today reported financial results for the quarter ended March 31, 2012. First quarter 2012 revenue increased 15% to $143.4 million from $124.9 million in the first quarter of...
AAR: Railroads report mixed weekly rail traffic as of April 21, 2012
(Source: Association of American Railroads press release, April 26, 2012) WASHINGTON, D.C. — The Association of American Railroads (AAR) today reported mixed weekly rail traffic for the week ending April 21, 2012, with U.S. railroads originating 282,262 carloads, down...
GE annual meeting interrupted by 99 Percent protesters
(Source: Reuters, April 25, 2012) DETROIT — Nearly 100 protesters affiliated with the "99 Percent" populist movement disrupted General Electric Co's annual shareholders' meeting on Wednesday in an attack on the largest U.S. conglomerate's low tax rate. The...
CEO pay is 380 times average worker’s
(Source: CNN, April 19, 2012) WASHINGTON, D.C. — Chief executives at some of the nation's largest companies earned an average of $12.9 million in total pay last year — 380 times more than a typical American worker, according to the AFL-CIO. Full story: CNN.com
Norfolk Southern reports first-quarter 2012 results
(Source: Norfolk Southern press release, April 24, 2012) NORFOLK, Va. — For the first quarter of 2012, Norfolk Southern Corporation reported net income of $410 million ($1.23 per diluted share), 26 percent higher than $325 million ($0.90 per diluted share) for the...
KCS reports best ever quarterly revenues; Also reports record first quarter carloads, operating income and operating ratio
(Source: Kansas City Southern press release (PDF), April 24, 2012) KANSAS CITY, Mo. — Kansas City, MO. Kansas City Southern (KCS) (NYSE:KSU) reported record first quarter 2012 revenues of $548 million. Overall, carload volumes were 7% higher than in first quarter...
Canadian Pacific announces first quarter 2012 results and record operating performance metrics
(Source: Canadian Pacific Railway press release, April 20, 2012) CALGARY, Alberta — Canadian Pacific Railway Limited announced its first-quarter 2012 results today with reported net income of $142 million, an increase of $108 million, or 318%, from the same period in...
CN reports first quarter 2012 net income of $775 million
(Source: Canadian National press release, April 23, 2012) MONTREAL — CN today reported its financial and operating results for the first quarter ended March 31, 2012. First-quarter 2012 highlights: • Net income for the first quarter of 2012 was C$775 million, or...
Union Pacific reports record 2012 first quarter
(Source: Union Pacific press release, April 19, 2012) OMAHA, Neb. — Union Pacific Corporation today reported 2012 first quarter net income of $863 million, or $1.79 per diluted share, compared to $639 million, or $1.29 per diluted share, in the first quarter 2011....
CSX announces record first quarter 2012 results
(Source: CSX press release, April 17, 2012) JACKSONVILLE, Fla. – April 17, 2012 – CSX Corporation (NYSE: CSX) today announced first quarter net earnings of $449 million, or $0.43 per share, versus $395 million, or $0.35 per share, in the same period last year. This...
Norfolk Southern awards 10 college scholarships
(Source: Norfolk Southern press release, April 25, 2012) NORFOLK, Va. — Ten sons and daughters of employees are receiving college scholarships from Norfolk Southern Corporation under the company's annual scholarship program. Three are recipients of the National Merit...
McLuckie named Director of Teamsters Dept. of Federal Legislation and Regulation
(Source: International Brotherhood of Teamsters press release, April 25, 2012) WASHINGTON, D.C. — Teamsters General President Jim Hoffa announced the appointment of Fred McLuckie to director of the union’s Department of Federal Legislation and Regulation today....
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