Rail Industry News
New York MTA to APTA: We’re leaving
(Source: Railway Age, April 18, 2016) NEW YORK — The New York Metropolitan Transportation Authority, North America’s single-largest public transportation agency, has pulled the plug on Transit Member status in APTA, the American Public Transportation Association. Full...
MBTA wants to be able to penalize Amtrak for service disruptions
(Source: WBUR, April 19, 2016) BOSTON — State transportation and MBTA officials want to be able to fine Amtrak for future service disruptions it causes on the commuter rail. Full story: www.wbur.org
Why Canadian Pacific’s quest to merge with Norfolk Southern was derailed
(Source: Virginian-Pilot, April 16, 2016) NORFOLK, Va. — To get some idea of what Canadian Pacific Railway was up against in its quest to merge with Norfolk Southern Corp., one might start with the website of the U.S. Surface Transportation Board, the federal agency...
NS declares quarterly dividend
(Source: Norfolk Southern press release, April 19, 2016) NORFOLK, Va. — Norfolk Southern Corporation today announced the regular quarterly dividend of 59 cents per share on its common stock, payable on June 10 to stockholders of record on May 6. Since its inception in...
Despite flooding, KCS earnings and stock jump
(Source: Kansas City Star, April 19, 2016) KANSAS CITY, Mo. — Flooding shut down parts of Kansas City Southern’s railway operations for three weeks but did not derail its first quarter earnings. The company posted $107.8 million in profits during the first quarter, or...
Kansas City Southern reports first quarter 2016 results
(Source: Kansas City Southern press release (PDF), April 19, 2016) KANSAS CITY, Mo. — Kansas City Southern (KCS) reported first quarter 2016 revenues of $563 million. Overall, carload volumes were 5% lower than in first quarter 2015. Excluding the estimated impacts of...
CP reports record results in 1Q 2016
(Source: Canadian Pacific press release, April 20, 2016) CALGARY, Alberta — Canadian Pacific Railway Limited today announced its lowest-ever first-quarter operating ratio of 58.9 percent and reported diluted earnings per share of $3.51 or $2.50 on an adjusted diluted...
CP profit soars 69 percent in 1Q 2016
(Source: Reuters, April 20, 2016) CALGARY — Canadian Pacific Railway Ltd said on Wednesday it planned to repurchase up to 5 percent of its shares, just over a week after abandoning a bid to buy Norfolk Southern Corp. CP's net income rose about 69 percent to C$540...
In Japan, ‘invisible’ train set to roll in 2018
(Source: CNN, April 14, 2016) ATLANTA — A nearly invisible train designed by one of Japan's leading architects is scheduled to debut in Tokyo in 2018. Designed by award winner Kazuyo Sejima, the commuter train uses semi-reflective and semi-transparent materials to...
NS sues city of Roanoke over water fees
(Source: WSLS, April 13, 2016) ROANOKE, Va. — Norfolk Southern is suing the City of Roanoke for requiring the company to pay hundreds of thousands of dollars in storm water fees. Full story: www.wsls.com
Bombardier says CTA rigged contract process to favor Chinese company
(Source: Chicago Tribune, April 13, 2016) CHICAGO — The losing bidder for a $1.3 billion CTA rail car contract has filed a protest with the agency, saying that the bidding process was rigged in favor of a Chinese firm that promised to bring manufacturing jobs to...
Transport Canada’s list of 500 ‘highest risk’ grade crossings not widely shared
(Source: CBC News, April 13, 2016) OTTAWA — CBC News has learned Transport Canada does not routinely warn the public about all railway crossings that appear in its database of the country's 500 "highest risk" crossings. Full story: CBC News
Opinion: Little progress on rail safety in wake of Lac Megantic
(Source: Toronto Star opinion column by Bruce Campbell, April 14, 2016) TORONTO — Transport Minister Marc Garneau said recently that rail safety is his number one priority. The federal budget pledged an extra $143 million over three years to, among other things,...
SEPTA unveiling PTC on Warminster line Monday
(Source: Bucks County Courier Times, April 14, 2016) BUCKS COUNTY, Pa. — Passengers on SEPTA's Warminster Regional Rail line won't notice anything different when they step aboard Monday morning, but beneath their feet rests technology that promises a safer ride. Full...
AAR: Rail traffic down 14.1 percent from 2015 for week ending April 9
(Source: Association of American Railroads press release, April 13, 2016) WASHINGTON, D.C. — The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending Apr. 9, 2016. For this week, total U.S. weekly rail traffic was 479,059...
Railroads cut deeper as freight volumes continue to fall
(Source: Associated Press, April 13, 2016) OMAHA, Neb. — CSX railroad said Wednesday it plans to continue cutting costs this year to deal with slowing freight volume and declining profit. Full story: Lincoln Journal Star
Evacuation lifted after BNSF derailment in Scott, La.
(Source: The Advertiser, April 13, 2016) SCOTT, La. — Approximately 138 homes and two businesses, including a day care center, were evacuated until about 8:30 p.m. Wednesday after 11 rail cars ran off the tracks near Scott that morning. No one was injured. Full story:...
CSX plans more cuts in response to lower freight volume
(Source: Associated Press, April 13, 2016) OMAHA, Neb. — CSX railroad plans to continue cutting costs this year to deal with slowing freight volume and declining profits. Full story: ABC News
CSX weathers tough first quarter
(Source: Railway Age, April 13, 2016) NEW YORK — Impacted by lower volume, CSX posted first-quarter 2016 net earnings of $356 million, or $0.37 per share, down from $442 million, or $0.45 per share, in the same period of last year. “Service improvements, significant...
Comparison of benefits under Railroad Retirement and Social Security
(Source: Railroad Retirement Board press release, March 8, 2016) CHICAGO — Employers and employees covered by the Railroad Retirement Act pay higher retirement taxes than those covered by the Social Security Act, so that railroad retirement benefits remain higher than...
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