Rail Industry News
Railroad industry sees surge amid New Mexico, Texas oil boom
(Source: Associated Press, January 26, 2019) CARLSBAD — Traffic is surging in the railroad industry in southeast New Mexico thanks to the oil boom in the state and West Texas. The number of rail cars traveling through the Carlsbad area almost tripled during the...
Hedge fund Mantle Ridge sells $305 million in CSX stock
(Source: Barron’s, January 25, 2019) NEW YORK — Mantle Ridge, a hedge fund that is a large shareholder of railroad CSX, sold $305 million of the stock this week. Full story: Barron’s
Amtrak engineer injured in collision with box truck
(Source: Herald Palladium, January 26, 2019) THREE OAKS, Mich. — An Amtrak engineer received minor injuries when his train struck a truck caught on the tracks between the crossing gates in Three Oaks on Friday morning. The engineer suffered minor facial injuries when...
Middle school student killed after school bus collides with UP train in Texas
(Source: Fox 4 News, January 27, 2019) ATHENS, Texas — A middle school student was killed and a little girl was critically injured after a school bus collided with a train in East Texas. An Athens ISD school bus collided with a Union Pacific train at a railroad...
U.S. Rep. Lipinski to chair House rail subcommittee
(Source: Progressive Railroading, January 25, 2019) The House Committee on Transportation and Infrastructure (T&I) announced yesterday that U.S. Rep. Dan Lipinski (D-Ill.) will chair its Subcommittee on Railroads, Pipelines and Hazardous Materials. Lipinski is the...
Gov. Cuomo threatens legal action against CSX over Utica-area flooding
(Source: Observer-Dispatch, January 24, 2019) WHITESBORO, N.Y. — Gov. Andrew Cuomo on Thursday said he would possibly pursue legal action against a railroad company he says is responsible for some of the area’s repeated flooding. Full story: Observer-Dispatch
Amtrak removes iconic 30th Street Station departure board in Philly
(Source: Billy Penn, January 24, 2019) PHILADELPHIA — Time has run out for the iconic split-flap departures board at 30th Street Station. Photos and videos posted to social media Thursday night showed workers in orange vests and hard-hats methodically dismantling the...
UP capital spending to hold at $3.2 billion in 2019
(Source: Railway Track & Structures, January 24, 2019) NEW YORK — The Union Pacific railroad committed to $3.2 billion in 2019 capital spending, the same amount it says it invested 2018. Full story: Railway Track & Structures
Expert who investigated Lac-Megantic disaster calls for action from CN, province after Saskatoon derailment
(Source: CBC News, January 24, 2019) SASKATOON, Sask. — The rail safety expert who helped police investigate the Lac-Mégantic train disaster wants the province of Saskatchewan and CN Rail to reassess the safety of a crossing where a train jumped the tracks and caught...
UP’s new COO, in charge of PSR, gets a kick start with strong Q4 2018
(Source: Freight Waves, January 24, 2019) CHATTANOOGA, Tenn. — Jim Vena was on his first conference call as the newly appointed Chief Operating Officer (COO) of Union Pacific Thursday, on what he said was his tenth day on the job. Full story: Freight Waves
Canadian crude by rail loadings jump to new record
(Source: Bloomberg, January 24, 2019) NEW YORK — Canadian crude-by-rail loadings hit a record 356K bbl/day in the week ended January 11, up from a daily average of 296K bbl/day last month, Bloomberg reports, even as heavy Western Canadian Select’s discount to the U.S....
AAR reports rail traffic for week ending Jan. 19, 2019
(Source: Association of American Railroads press release, January 23, 2019) WASHINGTON, D.C. — The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending January 19, 2019. For this week, total U.S. weekly rail traffic was 543,111...
Opinion: Four of North America’s six biggest railroads could soon be run by people who worked for Hunter Harrison
(Source: Financial Post opinion column by Howard Green, January 24, 2019) OTTAWA — A major railroad investor told me he believes Jim Vena could be en route to the CEO’s office at UP. If that were to occur, with Keith Creel atop CP, Jim Foote running CSX and...
Norfolk Southern Q4 2018 profit jumps 44 percent over Q4 2017
(Source: Associated Press, January 24, 2019) OMAHA, Neb. — Norfolk Southern Corp. said it hauled in 44 percent more fourth-quarter profit as volume increased 3 percent and the railroad increased shipping prices. The company said Thursday it had $702 million net...
CSX says it plans to keep cutting jobs
(Source: Jacksonville Daily Record, January 24, 2019) JACKSONVILLE, Fla. — CSX Corp.’s 2018 job cuts exceeded management’s expectations, and company officials said last week they see plenty of room to cut further. As the Jacksonville-based railroad company reported...
Railroads say economy still growing at steady rate
(Source: Associated Press, January 24, 2019) OMAHA, Neb. — The economy appears strong to the major freight railroads that haul the products and raw materials companies rely on, but the lingering trade disputes could derail business if they continue. Union Pacific,...
UP reports strong Q4 2018 earnings, but job cuts likely as executives tout cost-cutting moves
(Source: Omaha World-Herald, January 24, 2019) OMAHA, Neb. — As Union Pacific reported better-than-expected quarterly profits Thursday, it also looked ahead to its continuing drive to run a more efficient railroad. Full story: Omaha World-Herald
Norfolk Southern reports Q4 and full year 2018 results
(Source: Norfolk Southern press release, January 25, 2019) NORFOLK, Va. — Norfolk Southern Corporation today reported fourth-quarter and 2018 financial results. Net income was $702 million and diluted earnings per share were $2.57 for the fourth quarter and $2,666...
Jury awards $13.1 million to man hit by BNSF train in 2012
(Source: Grand Forks Herald, January 23, 2019) MINOT, N.D. — A jury awarded a South Carolina man approximately $13.1 million last week in his lawsuit against BNSF Railway, said one of his lawyers. David Rentz, of Buford, S.C., was driving an 18-wheeler that was hit by...
Chicago suburb pays up to fight Amtrak Hiawatha project
(Source: Railway Track & Structures, January 23, 2019) NEW YORK — Glenview, Ill., a village about 15 miles from Chicago, has reportedly approved spending a significant chunk of funding to continue its opposition efforts in regards to the proposed Amtrak Hiawatha...
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