Rail Industry News
Canadian Pacific operating efficiency weakens
(Source: Reuters Canada, January 26, 2012) CALGARY, Alberta — Canadian Pacific Railway reported a 18.8 percent increase in fourth-quarter net income on Thursday but an important measure of operating efficiency weakened, a trend that will likely fuel demands by CP's...
Union Pacific to invest in San Antonio track improvements
(Source: Union Pacific press release, January 24, 2012) OMAHA, Neb. — Union Pacific Railroad will continue improving the transportation infrastructure in San Antonio by investing $4 million in one of two rail lines that parallel Frio City Road. The comprehensive...
Union Pacific cites decade of employee safety statistics
(Source: Union Pacific press release, January 24, 2012) OMAHA, Neb. — Union Pacific Railroad employees capped a decade of safety improvement in 2011 by achieving a 1.15 reportable injury rate, the best performance on record in the company's history. Employees...
State auditor issues financial warning on California bullet train
(Source: Los Angeles Times, January 25, 2012) LOS ANGELES — California's $98.5-billion bullet train project has become "increasingly risky" because of uncertainty about where the money will come from to finish even the first phase, the state auditor warned Tuesday....
Four donors, including railroad contractor Herzog, jointly gave Wisconsin governor $1 million in recent weeks
(Full story: Milwaukee Journal Sentinel, January 24, 2012) MADISON, Wisc. — Gov. Scott Walker received $1 million from just four donors from Texas and Missouri in recent weeks to fight an expected recall election. Most of the impressive sums being given to support the...
Canadian Pacific comments on Pershing Square Nominations
(Source: Canadian Pacific Railway press release, January 24, 2012) CALGARY, Alberta — Canadian Pacific Railway Limited today noted the press release issued by Pershing Square Capital Management, L.P. announcing that it intends to nominate five individuals to stand for...
Former CN chief says he’d be ‘honoured’ to turn around Canadian Pacific
(Source: Canadian Press, January 25, 2012) OTTAWA — The battle over control of Canadian Pacific Railway Ltd. heated up Tuesday, with dissident shareholder William Ackman announcing a five-member slate of nominees he'd like to see join CP's board of directors. In the...
Stakes rise in Canadian railroad fight
(Source: Dow Jones, January 25, 2012) TORONTO — Dow Jones provides the latest update in an intensifying battle between Canada’s two larges railroads, Canadian Pacific and CN. Full story: Wall Street Journal
CSX executives forecast strong demand for U.S. coal exports In 2012
(Source: Dow Jones, January 24, 2012) NEW YORK — CSX Corp. executives forecast continued strong U.S. coal exports in 2012, although they said the railroad's coal shipments likely will be down overall because of slack demand from domestic electric utilities. Full...
Transcript: Canadian National Q4 2011 earnings call
(Source: Seeking Alpha, January 24, 2012) NEW YORK — A transcript of Norfolk Southern's earnings call with investors is available on the Seeking Alpha website. Full story: Seeking Alpha
Transcript: Norfolk Southern Q4 2011 earnings call
(Source: Seeking Alpha, January 24, 2012) NEW YORK — A transcript of Norfolk Southern's earnings call with investors is available on the Seeking Alpha website. Full story: Seeking Alpha
Norfolk Southern increases dividend
(Source: Norfolk Southern press release, January 24, 2012) NORFOLK, Va. — Norfolk Southern Corporation announced that its Board of Directors today voted to increase the regular quarterly dividend on the company’s common stock by 9.3 percent, or 4 cents per share, from...
Norfolk Southern 4Q profit rises 19 percent
(Source: Associated Press, January 24, 2012) NORFOLK, Va. — Higher rates and heavier traffic helped freight railroad operator Norfolk Southern Corp. boost fourth-quarter profit by 19 percent. Revenue was less than analysts expected, and operating costs rose sharply on...
Hackers manipulated U.S. railway computers, TSA memo says
(Source: Nextgov.com, January 24, 2012) Hackers, possibly from abroad, executed an attack on a Northwest rail company's computers that disrupted railway signals for two days in December, according to a government memo recapping outreach with the transportation sector...
Transcript of KCS 4Q 2011 conference call
(Source: Seeking Alpha, January 23, 2012) NEW YORK — A transcript of Kansas City Southern's earnings call with investors is available on the Seeking Alpha website. Full story: Seeking Alpha
Bicentennial locomotive 1776 still shows spirit
(Source: Roanoke Times, January 24, 2012) ROANOKE, Va. — The Virginia Museum of Transportation's red, white and blue "1776" locomotive is riding the rails again. The locomotive, built in 1970 by General Motors, was one of 115 SD45 diesel locomotives purchased by the...
BNSF among winners from denial of oil pipeline
(Source: Bloomberg News, January 23, 2012) NEW YORK — Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp. (TRP)’s Keystone XL oil pipeline...
CSX to suspend Indianapolis train traffic for Super Bowl
(Source: The Indy Channel, January 23, 2012) INDIANAPOLIS, Ind. — Train tracks that run within a block of Lucas Oil Stadium will be empty come Super Bowl Sunday (February 5). As part of the overall public safety plan to reduce the possibility of a hazardous chemical...
Canadian Pacific schedules annual meeting of shareholders for May 17, 2012
(Source: Canadian Pacific Railway press release, January 24, 2012) CALGARY, Alberta — Canadian Pacific today announced that it received a letter from Pershing Square including a requisition for a meeting of shareholders for the purpose of electing five Pershing Square...
Ackman to Indemnify Harrison as Canadian National takes him to court
(Source: Bloomberg News, January 24, 2012) NEW YORK — Investor William Ackman said he will shield Hunter Harrison, his choice to run Canadian Pacific Railway, against a possible loss of benefits after the retired executive’s former employer, CN, suspended pension and...
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