Rail Industry News
Amtrak privatization off table, for now
(Source: Asbury Park Press, February 1, 2012) WASHINGTON — The GOP idea of privatizing the Northeast Corridor is off the table — for now. Florida Rep. John Mica, who chairs the House Transportation Committee, wants private companies to compete with Amtrak to provide...
Transportation bill throws bones to GOP base
(Source: Politico.com, February 1, 2012) WASHINGTON, D.C. — House Republicans on Tuesday introduced a giant new surface transportation bill loaded with goodies for the GOP base. Greg Cohen, president and CEO of the American Highway Users Alliance, described the bill...
House GOP unveils controversial surface transportation bill
(Source: Progressive Railroading, January 31, 2012) The Association of American Railroads (AAR) is gearing up to fight provisions in the House Republicans’ long-awaited surface transportation bill that would allow states to increase truck size and weight limits. The...
LIRR to get upgrades to signal system
(Source: Associated Press, January 30, 2012) NEW YORK — The Long Island Rail Road plans $500,000 in upgrades to its signal system at Jamaica station that was seriously damaged by a September lightning strike. Full story: Wall Street Journal
CP executives hitting the road to defend their strategy
(Source: Globe and Main, January 31, 2012) TORONTO — Canadian Pacific Railway Ltd.’s directors and executives will embark on a road show this week in hopes of persuading institutional investors to back CP’s efficiency strategy and shun activist investor Bill Ackman’s...
Does California need high-speed rail?
(Source: New York Times, January 26, 2012) NEW YORK — On January 26, the New York Times published a series of essays debating the pros and cons of high-speed rail in America. Full story: New York Times
Amtrak’s Downeaster: The little Maine train that could
(Source: Huffington Post, January 30, 2012) WASHINGTON, D.C. — After 10 successful years, Maine's experiment with the restoration of passenger rail service is paying big dividends, proving that passenger rail has an important place in the nation's transportation...
As freight business booms, GE Transportation hasn’t given up on high-speed rail
(Source: Erie Times-News, January 31, 2012) ERIE, Pa. — A booming freight business is keeping employees at GE Transportation busy. But the company stands ready to compete in the development of high-speed and so-called higher-speed rail, an intermediate step that could...
BNSF says U.S. economy, freight volume growing
(Source: Dow Jones Newswires, January 30, 3012) PALM BEACH, Fla. — Burlington Northern Santa Fe CEO Matthew K. Rose said Monday that the U.S. economy is growing at a "modest" pace and the railroad will add jobs and new rail cars and locomotives this year to keep...
Under House proposal, railroads would get until 2020 to add Positive Train Control
(Source: Boomberg News, January 31, 2012) WASHINGTON, D.C. — Railroads would get five more years to install crash-avoidance technology -- a project estimated to cost about $12 billion — under a proposal by the U.S. House transportation committee. The deadline would...
Canadian Pacific announces strong operating performance and fourth-quarter results
(Source: Canadian Pacific Railway press release, January 26, 2012) CALGARY, Alberta — Canadian Pacific Railway Limited announced its fourth-quarter and full year 2011 results today. Fourth-quarter CP reported net income of $221 million and diluted earnings per share...
Norfolk Southern reports 2011 fourth-quarter and full-year results
(Source: Norfolk Southern press release, January 24, 2012) NORFOLK, Va. — Norfolk Southern Corporation today reported record fourth-quarter net income of $480 million, 19 percent higher compared with $402 million for the same quarter of 2010. Diluted earnings per...
CN reports Q4-2011 net income of C$592 million, or C$1.32 per diluted share, on best-ever quarterly revenue
(Source: CN press release, January 24, 2012) MONTREAL, Jan. 24, 2012 — CN today reported its financial and operating results for the fourth quarter and year ended Dec. 31, 2011. Fourth-quarter and full-year 2011 highlights: • Net income for the final quarter of 2011...
Kansas City Southern reports record fourth quarter and full-year 2011 revenues, carloads and operating income
(Source: Kansas City Southern press release, January 23, 2011) KANSAS CITY, Mo. — Kansas City Southern reported record fourth quarter 2011 revenues of $530 million. Fourth quarter carloads of 522 thousand, also a record, increased 7% over fourth quarter 2010. Fourth...
CSX announces record fourth-quarter and full-year 2011 earnings
(Source: CSX press release, January 23, 2012) JACKSONVILLE, Fla. — CSX Corporation today announced fourth quarter 2011 earnings of $0.43 per share, versus $0.38 per share in the same period last year. This represents a 13 percent year-over-year improvement in earnings...
Union Pacific 4Q profit up 24 percent on higher prices
(Source: Associated Press, January 19, 2012) OMAHA, Neb. — Union Pacific Corp.’s fourth-quarter profit jumped 24 percent as the nation’s largest freight railroad operator increased prices and hauled more cargo. Full story: Salt Lake Tribune
New GE Transportation plant to open in Fort Worth by year’s end
(Source: GoErie.com, January 29, 2012) ERIE, Pa. — Before the end of the year, about 500 employees in north Fort Worth, most of them yet to be hired, will be doing work that mirrors the efforts of their 5,500 counterparts in Erie. Full story: GoErie.com
CP Rail: Activist shareholder to make case for new CEO on Feb. 6
(Source: Financial Post, January 27, 2012) TORONTO — William Ackman’s Pershing Square Capital Management will make its case to shareholders for a new CEO at Canadian Pacific Railway at a meeting on Feb. 6 in Toronto, according to a person familiar with the fund’s...
CP Rail CEO: We will not sacrifice principles for productivity
(Source: Vancouver Sun, January 27, 2012) VANCOUVER, B.C. — While Canadian Pacific Railway Ltd. is under fire for its productivity, company CEO Fred Green told a Vancouver Board of Trade audience Friday that he won’t sacrifice the social license his railway has...
Amtrak’s Hiawatha line breaks ridership record
(Source: Milwaukee Journal Sentinel, January 28, 2012) MILWAUKEE, Wisc. — Annual ridership on Amtrak's Milwaukee-to-Chicago Hiawatha line cracked the 800,000 mark for the first time last year, the state Department of Transportation reported Friday. Full story:...
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