AAR: “The Impact of Coronavirus on Railroads Is Growing”
The Association of American Railroads (AAR) reported U.S. rail traffic for the week ended April 4, 2020, and it acknowledged that COVID-19 is increasingly impacting the rail industry.
Author: Andrew Corselli
FTA Allocates $25B for Public Transportation
The Federal Transit Administration (FTA), via the CARES Act, recently allocated a total of $25 billion in Federal funding to help the Nation’s public transportation systems respond to COVID-19.
RTA Taking Additional Measures to Combat COVID-19
The Greater Cleveland Regional Transit Authority (RTA) is taking additional measures to protect customers and employees from the spread of the coronavirus by adding ultra violet technology (UV-C) to its arsenal of disinfectant procedures.
MTA, NYC Agree on Madison Ave. Redevelopment Proceeds
The New York Metropolitan Transportation Authority (MTA) and the City of New York have agreed on “a site-specific value capture strategy” to jump-start development of 341-7 Madison Avenue, the site of the MTA’s former headquarters in East Midtown Manhattan.
AAR: “Coronavirus Is Taking a Toll” Amid “Tidbits of Encouraging News”
The Association of American Railroads (AAR) reported U.S. rail traffic for the week ended March 28, 2020, as well as volumes for March 2020, and noted that COVID-19 has certainly taken its toll on the industry.
OmniTRAX, WW Launch Rail-Ready Sites Program
OmniTRAX, an affiliate of The Broe Group, launched its new Rail-Ready Sites program. This program, designed to bring together rail-served sites and customers in need of development properties, kicks off with 10 Rail-Ready Sites along the New Jersey division of the Winchester and Western Railroad (WW).
ClearBlade, NimbeLink Join Forces for Asset Monitoring Solution
ClearBlade and NimbeLink Corp. announced a secure and scalable IoT edge solution aimed at simplifying the process required to track, monitor and alert assets rapidly.
The CARES Act Impacts Railroad Workers
The Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law by President Trump on March 27, boosts unemployment and sickness benefits for railroad workers impacted by the pandemic.
Cowen: “Railroads Are Generally Well-Positioned; 2021 Carloads Will Be Strong”
Citing “increased macroeconomic uncertainty and corporate debt in focus across various sectors,” Cowen and Company recently delved into current debt levels at major railroad and trucking firms, and discussed actions these companies could take to combat the difficult times.
Duos: “We Ended the Year on a High Note”
Duos Technologies Group, Inc. reported financial results for the fourth quarter and full year ended Dec. 31, 2019. In doing so it noted that its total revenue increased 125% to $5.75 million, compared to $2.56 million in the same quarterly period, and its gross profit increased 176% to $3.15 million (55% of total revenue) compared to $1.14 million (45% of total revenue) in the same quarterly period last year.