Rail Industry News
Senate takes another step towards keeping double 33-foot trailers off the road
(Source: International Brotherhood of Teamsters press release, November 19, 2015) WASHINGTON, D.C. — Lawmakers took another stand for highway safety yesterday when the Senate removed language from a spending bill that would force states to allow an increase in the...
NS takeover could double CP Rail’s debt load
(Source: Bloomberg, November 20, 2015) NEW YORK — Canadian Pacific Railway Ltd.’s debt load would surge to more than double the industry average if it succeeds with its $28 billion bid for Norfolk Southern Corp., a heavy burden even with the combined company’s...
Norfolk Southern investors can win even if a deal isn’t reached
(Source: Bloomberg, November 19, 2015) NEW YORK — Norfolk Southern Corp.’s investors can win even if Canadian Pacific Railway Ltd.’s $28 billion takeover offer fails. Full story: Bloomberg
Harrison says Canada not guaranteed to be HQ if CP merges with NS
(Source: Canadian Press, November 19, 2015) MONTREAL — North America’s largest railway may not be headquartered in Canada in the event of a merger between Canadian Pacific and Norfolk Southern, CP Rail chief executive Hunter Harrison said Thursday. Full story:...
CP’s Harrison offered NS’s Squires a position as CEO if he agreed to takeover proposal
(Source: Bloomberg, November 19, 2015) NEW YORK — Canadian Pacific Ltd. Chief Executive Officer Hunter Harrison said he offered his counterpart at Norfolk Southern Corp. a CEO position if he would agree to a takeover proposal. Full story: Bloomberg
The benefits and potential stumbling blocks of proposed CP-NS merger
(Source: Trefis Team, November 19, 2015) NEW YORK — In this article we will look at the benefits of a potential merger and the stumbling blocks that could prevent it from being realized. Full story: Forbes
CP says NS hasn’t been willing to discuss merger at length
(Source: Associated Press, November 19, 2015) NEW YORK — Canadian Pacific's chief executive said Thursday he remains optimistic about completing a merger with Norfolk Southern but executives at the Virginia-based railroad haven't been willing to discuss the idea at...
BNSF locomotive engineer walks away from career over safety concerns
(Source: Whitefish Pilot, November 18, 2015) WHITEFISH, Mont. — Gene McDaniel remembers the night vividly. Piloting a BNSF Railway freight train west through Idaho, he approaches a road intersection without crossing arms, he sees an SUV. He recognized fatigue was an...
Quebec pension fund to buy 30% stake in Bombardier rail unit for $1.5 billion
(Source: Reuters, November 19, 2015) MONTREAL/TORONTO — Bombardier Inc said on Thursday that Quebec's public pension fund manager is buying a 30 percent stake in its rail arm for $1.5 billion, putting the company on stronger financial footing as it pushes to launch...
Teamsters applaud Supreme Court’s refusal to hear Amerijet lawsuit
(Source: International Brotherhood of Teamsters press release, November 18, 2015) WASHINGTON, D.C. — The following is the official statement of Teamsters Airline Division Director Capt. David Bourne in response to the U.S. Supreme Court’s denial of a petition this...
Metro-North to pay conductor at least $835,000 in fatal derailment settlement
(Source: The Journal News, November 17, 2015) NEW YORK — An assistant conductor injured when a Metro-North train derailed in the Bronx in 2013 settled her legal claims against the commuter rail for at least $835,000 late Monday. Full story: www.lohud.com
New York’s MTA presents final proposed budget for 2016
(Source: Metropolitan Transportation Authority press release, November 18, 2015) NEW YORK — The Metropolitan Transportation Authority (MTA) today presented its 2016 Final Proposed Budget and its 2016-19 Financial Plan, in which a relentless emphasis on cutting costs...
Opinion: 20 years ago, sound regulation powered privatization of CN
(Source: Financial Post opinion column by CN CEO Claude Mongeau, November 17, 2015) OTTAWA — November 17, 2015, marks the 20th anniversary of CN’s privatization and initial public offering. This is the anniversary of one of the most profound transformations in...
Second train worker, a conductor, sues BNSF over Casselton oil train explosion
(Source: Inforum, November 18, 2015) FARGO — A train conductor in the massive oil tanker train derailment and explosion in Casselton about two years ago is suing BNSF Railway, claiming its negligent safety practices left him injured in the wreck Full story: Inforum
TPP is a big, bad deal for workers
(Source: International Brotherhood of Teamsters press release, November 18, 2015) WASHINGTON, D.C. — Several House members gathered on Capitol Hill this morning to let the public know seeing isn't believing when it comes to the Trans-Pacific Partnership (TPP)....
AAR: Weekly rail traffic down 4.7 percent from 2014 for week ending November 14
(Source: Association of American Railroads press release, November 18, 2015) WASHINGTON, D.C. — The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending Nov. 14, 2015. For this week, total U.S. weekly rail traffic was 543,681...
VP Biden praises high-speed rail in visit to Texas
(Source: Dallas Morning News, November 18, 2015) DALLAS — Vice President Joe Biden stood atop a sun-drenched rooftop in the Cedars on Wednesday to sing the praises of a planned high-speed rail line between Dallas and Houston. The long-time train commuter said modern...
FRA warns railroads on new Positive Train Control deadline
(Source: Chicago Tribune, November 18, 2015) CHICAGO — The federal government is warning the nation's railroads, including Chicago's Metra, that it intends to "aggressively enforce" a new deadline for installation of a high-tech safety system. In a letter Thursday to...
CP could ride hundreds of millions in tax savings with NS deal
(Source: Forbes, November 18, 2015) NEW YORK — A prospective of Norfolk Southern by Calgary-based Canadian Pacific could generate the kinds of tax savings for the combined company that the merger of Burger King and Ontario-based Tim Hortons yielded when it closed in...
CP’s $28 billion offer for NS renews quest for big rail link
(Source: Bloomberg, November 18, 2015) NEW YORK — Canadian Pacific's offer of about $28 billion for Norfolk Southern renews Chief Executive Officer Hunter Harrison's effort to link Canada's second-largest carrier with one of the big operators in the eastern United...
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