Rail Industry News
Canadian officials feared terrorists would use train to attack Vancouver Olympics
Canadian officials were worried the daily Amtrak train from Seattle might pose a security risk to the 2010 Winter Games because terrorists could use it to detonate a bomb just blocks from the Olympic Village, according to internal government documents obtained by the...
KCS reports fourth quarter revenues up 18%; Record operating ratio of 71.8%
(Kansas City Southern issued the following press release on January 27, 2011.) KANSAS CITY, Mo. — Kansas City Southern (KCS) reported fourth quarter 2010 revenues of $479 million reflecting continued improvement in economic conditions in the markets served....
Canadian Pacific announces 2010 results
(The Canadian Pacific Railway issued the following on January 26, 2011.) CALGARY, Alberta — Canadian Pacific Railway Limited announced its fourth-quarter and full-year 2010 results today. Revenue in the fourth-quarter increased 13 per cent with gains across all lines...
Denton police continue search for laser cannon stolen from KCS
Police in Denton, Texas, have stepped up their search for a high-powered laser cannon used to align railroad tracks. Pen-sized laser pointers available at office supply stores and elsewhere have been blamed for mischief on the ground but are considered too weak to...
Minor mudslide, downed trees force closure of Amtrak Cascades route for two days
Passenger service on the Amtrak Cascades route running from Vancouver into Washington state has been suspended for 48 hours due to mud and fallen trees covering the rail line in south Surrey. Burlington Northern-Santa Fe Railway spokesman Gus Melonas on Tuesday said...
CN reports 2010 fourth quarter net income of $503 million
(CN issued the following press release on January 25.) MONTREAL — CN reported its financial and operating results for the fourth quarter and year ended Dec. 31, 2010. Fourth-quarter and full-year 2010 highlights • Net income for the final quarter of 2010 was C$503...
Norfolk Southern increases dividend
(Norfolk Southern issued the following press release on January 25, 2011.) 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 11 percent, or 4 cents...
CSX sees gradual U.S. economic recovery continuing, to hire more workers
According to Reuters, CSX says the U.S. economy is on track for continued gradual recovery while international demand escalates, pointing to another year of robust shipments and core pricing gains for the railroad. The railroad’s CEO Michael Ward said in an interview...
Norfolk Southern sees stronger 2011
According to a report from Reuters, Norfolk Southern said fourth-quarter net income rose 31 percent from a year ago while top executives predict even stronger growth in 2011. The report reads in part: “Volume has shifted into January and almost every business segment...
Norfolk Southern reports fourth-quarter, full-year 2010 results
(Norfolk Southern issued the following on January 25, 2011.) NORFOLK, Va. — Norfolk Southern Corporation today reported fourth-quarter 2010 net income of $402 million, or $1.09 per diluted share, 31 percent higher compared with $307 million, or $0.82 per diluted...
Hoffa: ‘Reinvest in American workers’
(The International Brotherhood of Teamsters issued the following on January 25, 2011.) WASHINGTON, D.C. — Teamsters General President Jim Hoffa shares his views regarding the plight of the American worker and the middle class during The Ed Show on the eve of President...
Roads, bridges, high-speed rail top Obama’s transportation agenda
In his State of the Union address yesterday (January 25), President Barack Obama said he will intensify efforts to repair the nation’s roads, bridges and mass transit systems, calling the work necessary to create jobs and compete with nations that have made those...
Teamsters support counterterrorism program
(The International Brotherhood of Teamsters issued the following on January 24, 2011.) The Teamsters General Executive Board has reaffirmed the union’s commitment to the First Observer counterterrorism training program by approving a board resolution in support. The...
Teamsters, UPS reach tentative agreement in aircraft mechanics contract negotiations
(The International Brotherhood of Teamsters issued the following on January 24, 2011.) WASHINGTON, D.C. — The International Brotherhood of Teamsters has reached a tentative agreement on an industry-leading labor contract between UPS and its aircraft mechanics. The...
KCS laser cannon has gone missing
It sounds like something from a sci-fi movie, but it's real. And someone stole it. Denton police are trying to locate a stolen laser cannon. The device was taken from a truck on Friday afternoon. The laser is used as a measuring device in the train business. It can...
Railroad supplier Wabtec sets unique milestone
Wabtec Corp., the rail supplier, recently and quietly reached a unique mark in corporate America. The company became the first of the 1,900 listed on the New York Stock Exchange with a year-end closing stock price that rose each of the last 10 years, the NYSE...
House Republican urges firing of Amtrak chief, counsel
A powerful House Republican wants Amtrak’s chairman and top lawyer fired. Rep. Darrell Issa of California, chairman of the House Committee on Oversight and Government Reform, said in a recent letter to Sen. John D. Rockefeller IV that both Amtrak Chairman Thomas...
Florida’s rail chairman talks high-speed rail
In an interview with the Orlando Sentinel, the chairman of Florida's rail commission debunks the myth that taxpayers will have to pay any part of the high-speed rail project from Orlando to Tampa if the project tops the $2.6 billion sticker price. The article as well...
AAR: Railroads positioned for job growth over next five years
(The Association of American Railroads issued the following press release on January 24, 2011.) WASHINGTON, D.C. — America's railroads are well positioned for job growth as rail traffic begins to return and the industry is forecasted to see a significant wave of...
Railroads get a boost from growing West Coast port traffic
U.S. West Coast ports are poised for two consecutive years of increased traffic for the first time since 2005-2006, a product of stronger global demand that will benefit America’s railroads and truckers. Los Angeles, the busiest port, forecasts shipments to rise as...
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