Rail Industry News
House passes SAFETEA-LU extension with Keystone provision
(Source: Progressive Railroading, April 19, 2012) On April 18, the House passed a second 90-day extension of the surface transportation law in less than a month. The measure passed 293-127 with the support of 69 Democrats. However, President Obama has threatened to...
Amtrak’s Gateway Project to build rail tunnels under Hudson River continues to simmer
(Source: NorthJersey.com, April 19, 2012) Governor Christie scuttled the "Access to the Region's Core" tunnel, and the chairman of New York's Metropolitan Transportation Authority this month effectively quashed an idea to extend the No. 7 subway to Secaucus. But...
Senate panel OKs $20 million for Amtrak tunnel project
(Full story: Daily Record, April 19, 2012) WASHINGTON, D.C. — A key Senate committee approved $20 million on Wednesday for Amtrak’s Gateway Tunnel project, which would increase rail capacity for New Jersey residents traveling to and from New York City. Full story:...
Canadian Pacific profits quadruple in first quarter 2012; Operating ratio improves
(Source: Reuters Canada, April 20, 2012) TORONTO — Canadian Pacific Railway Ltd. said on Friday that first-quarter profits more than quadrupled and that it operating ratio improved to 80.1 percent from 90.6 percent in the same period of 2011. Full story: Reuters...
ALEC retreats under pressure, drops out of social policy field
(Source: Huffington Post, April 18, 2012) WASHINGTON, D.C. — The American Legislative Exchange Council, the controversial corporate-sponsored lobbying group whose push for "stand your ground" gun laws and voter ID legislation ignited grassroots protests, announced...
Basebally by rail gets rebirth for Reds-Cubs game at Wrigley Field
(Full story: Cincinnati.com, April 18, 2012) CINCINNATI, Ohio — Major league baseball by rail gets a rebirth Friday morning when Whitewater Valley Railroad of Connersville, Ind., runs three private passenger cars from Indianapolis to Chicago for the Reds-Cubs game at...
Norfolk Southern paints locomotives to celebrate company’s 30th birthday
(Source: Altoona Mirror, April 19, 2012) ALTOONA, Pa. — Norfolk Southern is honoring the history of 19 predecessor railroads by painting one locomotive in each of the "heritage" companies' colors. Full story: Altoona Mirror
Ex-minister warns against reverting to past in Canadian Pacific fight
(Source: Canadian Press, April 18, 2012) CALGARY — An activist investor's push to improve efficiency at Canadian Pacific Railway Ltd. may come at the expense of customer relationships, former federal cabinet minister Chuck Strahl says. Strahl, who once held the...
Runaway BNSF rail car makes 16-mile run in Montana
(Source: Associated Press, April 19, 2012) HELENA, Mont. — BNSF Railway officials say a single flatbed car got away from a bridge crew working about 40 miles southeast of Great Falls and traveled 11 miles down the tracks and five miles back before being stopped by a...
Uncertainty is part of transportation funding, California high-speed rail chief says
(Source: Sacramento Bee, April 19, 2012) SACRAMENTO, Calif. — California High-Speed Rail Authority Chairman Dan Richard defended his $68 billion program Wednesday by noting that major transportation projects often face the financial uncertainty for which the rail...
KCS to make aggressive push into U.S.-Mexican intermodal market
(Source: DC Velocity, April 18, 2012) WASHINGTON, D.C. — Kansas City Southern Inc. (KCS), the Kansas City, Mo.-based railroad, is poised to significantly expand its presence in the U.S.-Mexico intermodal market, a move that could not only strengthen the railroad's...
House extends transport plan, to begin conferencing with Senate
(Source: Journal of Commerce, April 19, 2012) WASHINGTON, D.C. — According to the Journal of Commerce, the House’s passage on Wednesday of a 90-day extension to highway funding will allow members to begin conferencing with the Senate, giving Congress a shot at passing...
CSX says utility coal the only soft segment in 2Q 2012 outlook
(Source: Reuters, April 18, 2012) NEW YORK — Railroad operator CSX Corp on Wednesday said utility coal is its only business with an unfavorable second-quarter outlook, and it still expects record profit for the year and export coal volume near last year's record high....
CSX furloughs 280 employees in ‘surgical’ move
(Source: MarketWatch.com, April 18, 2012) NEW YORK — CSX Corp. furloughed about 280 employees in the first quarter and put about 100 locomotives into storage, in what Chief Executive Michael Ward characterized as a "surgical" response to a big downturn in demand for...
Union Pacific railroad’s 1Q 2012 profit up 35 percent
(Source: Associated Press, April 19, 2012) OMAHA, Neb. (AP) — Union Pacific's first-quarter profit soared 35 percent as the railroad increased prices and collected more fuel surcharge fees. The Omaha-based company said Thursday that its revenue grew 14 percent to...
Ackman turns up heat in CP Rail board battle
(Source: Globe and Mail, April 16, 2012) TORONTO — As Bill Ackman’s campaign to win voter support for a revamped board at Canadian Pacific Railway Ltd. moves into its final month, the New York activist is stepping up pressure with a shareholder letter faulting the...
First quarter 2012 earnings preview: Union Pacific
(Source: Associated Press, April 17, 2012 OMAHA, Neb. — Union Pacific's earnings report on Thursday will give investors a sense of how much the economy continued to grow during the first three months of 2012. The railroad has generally been able to grow its profits by...
U.S. Development doubles crude-by-rail terminal served by UP
(Source: Reuters, April 17, 2012) NEW YORK — U.S. Development Group LLC has completed the doubling of crude-by-rail unloading capacity at its terminal in St. James, La., raising capacity to 130,000 barrels per day, the company said Tuesday. The terminal is served by...
Secret Service: Metra trains will run during NATO summit, but delays possible
(Source: Chicago Tribune, April 17, 2012) CHICAGO — Commuter rail lines that pass through McCormick Place will operate during the NATO summit next month, but delays are possible due to heightened security, the Secret Service said Tuesday. Full story: Chicago Tribune
Metro-North records all-time best on-time performance in first quarter 2012
(Source: Progressive Railroading, April 17, 2012) MTA Metro-North Railroad reported systemwide on-time performance (OTP) of 98.8 percent during the year’s first three months — the highest quarterly OTP in the railroad’s history, according to the agency. Full story:...
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