Rail Industry News
UP reports 2Q 2015 profit down 7.7 percent from 2014
(Source: Omaha World-Herald, July 23, 2015) OMAHA, Neb. — Union Pacific Corp. said Thursday morning that second-quarter profit fell 7.7 percent on lower freight hauling volumes led by a 31 percent drop in coal shipments. The Omaha-based railroad said net income was...
Investigating a tragedy: Piecing together the events of Lac-Megantic
(Source: Globe and Mail, July 20, 2015) OTTAWA — When Don Ross drove his rental car down the steep road toward Lac-Mégantic, the first thing he noticed was the thick blanket of smoke that had gathered just above the small Quebec town. Full story: Globe and Mail
Ten years later, BNSF rail relocation is done in Sioux Falls
(Source: Argus Leader, July 21, 2015) SIOUX FALLS, S.D. — The city of Sioux Falls is poised to announce a deal that would cap a decade-long project to remove the downtown rail yard, freeing up about 10 acres of land for potential development. Full story: Argus...
Dallas-Houston bullet train company raises $75 million, hires new CEO
(Source: Dallas Morning News, July 22, 2015) DALLAS — Developers of a planned bullet train between Dallas and Houston have raised $75 million in private funds from Texas investors and named a new CEO, company officials announced this morning. Full story: Dallas...
CSX provides update on W.Va. oil train derailment
(Source: Associated Press, July 21, 2015) GLEN FERRIS, W.Va. — CSX is continuing to closely monitor the environmental impact of a fiery oil-train derailment in southern West Virginia, a spokeswoman said Tuesday. The company held a public informational meeting that...
Attorney representing Amtrak workers ordered to avoid reporting hazardous track conditions
(Source: Press release from the law firm of Nichols Kaster, PLLP, July 22, 2015) MINNEAPOLIS, Minn. — In recently-filed charges before the Department of Labor, two Amtrak track inspectors allege that Amtrak ordered them to not report hazardous track conditions, and...
NJ Transit trains resume service into New York after overhead wire problems
(Source: Associated Press, July 22, 2015) NEWARK, N.J. — New Jersey Transit trains are running again in and out of New York's Penn Station after service was suspended because of Amtrak overhead wire problems. Full story: www.philly.com
Falling freight shipments hint at darkening picture for UP
(Source: Omaha World-Herald, July 22, 2015) OMAHA, Neb. — Omaha-based Union Pacific Corp. is facing declining U.S. rail freight shipments as it prepares to report second-quarter earnings Thursday. That could signal a slowing economy and might also mean additional...
Fearful Lac-Megantic commissions track inspection
(Source: Canadian Press, July 17, 2015) MONTREAL — Two years after one of the deadliest train derailments in Canadian history claimed 47 lives and destroyed much of the town centre, a recent third-party inspection has apparently found the condition of the tracks near...
Senate working to strip braking safety requirements from oil train regulations
(Source: DeSmog Blog, July 22, 2015) NEW YORK — As documented on DeSmog, the new oil-by-rail regulations contain major concessions to the oil and rail industries as the result of relentless lobbying during the rulemaking process. One logical safety measure that the...
CP reports 2Q 2015 diluted earnings share of C$2.36
(Source: Canadian Pacific Railway press release, July 21, 2015) CALGARY, Alberta — Canadian Pacific Railway Limited today announced the highest-ever net income for the second quarter and the lowest operating ratio for the period in the company's history. Net income...
CP Rail stock plunges after forecast cut, departure of Board members
(Source: Financial Post, July 22, 2015) OTTAWA — Canadian Pacific Railway Ltd.’s chairman and another member of its board resigned “over disagreements relating to corporate governance matters” Tuesday, shaking shareholder confidence as the railway cut its full-year...
CP Rail plans to eliminate another 200-300 jobs
(Source: Global News, July 21, 2015) CALGARY — Canadian Pacific Railway Ltd. is planning more job cuts as the company faces lower than expected freight volumes and earnings. President and chief operating officer Keith Creel says the company plans to slash 200 to 300...
FRA to railroads: Notification of crude oil trains to states must continue
(Source: Federal Railroad Administration press release, July 22, 2015) WASHINGTON, D.C. — The Federal Railroad Administration (FRA) today sent a letter again instructing railroads transporting crude oil that they must continue to notify State Emergency Response...
Feds warn railroads to comply with oil train notification requirement
(Source: McClatchy News Service, July 22, 2015) WASHINGTON, D.C. — The U.S. Department of Transportation warned railroads that they must continue to notify states of large crude oil shipments after several states reported not getting updated information for as long as...
Opinion: Nothing smart about cutting Amtrak
(Source: Opinion column by Laura Weis in The Southern Illinoisan, July 19, 2015) CARBONDALE, Ill. — Clearly, the state of Illinois is in a fiscal crisis. It is incumbent upon our elected leaders to fix the crisis and turn the state around. We cannot cut our way out of...
Former Vermont transportation chief to push for resumption of train service to Montreal
(Source: Associated Press, July 19, 2015) MONTPELIER, Vt. — A former Vermont transportation secretary is coming out of retirement to help plan resumption of passenger train service between the northeastern United States and Montreal. Full story: Toronto Star
TCRC-Maintenance of Way Division ratifies five-year agreement with Ontario Northland
(Source: Ontario Northland Transportation Commission press release, July 16, 2015) NORTH BAY, Ontario — Northland Transportation Commission (Ontario Northland) and Teamsters Rail Conference Maintenance of Way Employees Division (TCRC MWED) announced today the...
STB to hold revenue adequacy hearing, reports employment slips in mid-June
(Source: Progressive Railroading, July 20, 2015) The Surface Transportation Board (STB) will hold a public hearing Wednesday and Thursday to examine railroads' "revenue adequacy" and issues related to how the board calculates the railroad industry’s cost of equity...
Fewer passenger, freight rail delays due to drilling decline
(Source: Associated Press, July 14, 2015) BISMARCK, N.D. — Delays in Amtrak service and agricultural product shipping have eased across the Upper Midwest in part because weak oil prices have prompted a drilling slowdown in North Dakota, officials say. Full story:...
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