PATH heads for new ridership record
The Port Authority of New York & New Jersey says PATH ridership through the first six months of 2012 was 4% ahead of last year and “on pace to set a new record for the second consecutive year.”
Author: Douglas John Bowen
New York MTA unveils austerity budget
To achieve balanced operating budgets, New York Metropolitan Transportation Authority says it must aggressively cut costs and raise fares and tolls.
U.S. freight traffic trend reverts to 2012 norm
U.S. freight traffic for the week ending July 21, 2012 resumed its bifurcated trend for the year—a decline in freight carload volume, an increase in intermodal—the Association of American Railroads reported Thursday. U.S. freight carload volume for the week fell 1.9%, measured against the comparable week in 2011. U.S. intermodal volume, however, remained robust, up 6.2% for the week compared with a year ago.
STB seeks to “protect captive shippers”
The Surface Transportation Board Wednesday announced “two initiatives to explore ways to further protect captive shippers from unreasonable rail rates.”
STB said it proposes to reform its rules on how it resolves rate disputes “to ensure that all captive shippers have a meaningful way to challenge rates.” STB also will be “taking steps to consider a proposal submitted by The National Industrial Transportation League (NITL) to increase rail-to-rail competition.”
ARI 2Q results set record, beat Street
American Railcar Industries, Inc. late Wednesday said its second-quarter consolidated earnings from operations set a new quarterly record of $26.0 million, more than triple the $8.2 million for the second quarter of 2011.
Western extension of Phoenix LRT OK’d
Arizona’s Maricopa Association of Governments (MAG) Wednesday approved plans for the “Phoenix West” extension of Valley METRO light rail transit.
In New York, ESA tunnel work is completed
New York’s Metropolitan Transportation Authority says tunnel boring for its East Side Access project has been completed, clearing the way for infrastructure work, including laying track, for eventual Long Island Rail Road service to Grand Central Terminal in Manhattan.
RailAmerica 2Q profit rises on higher revenue
RailAmerica, Inc. has reported second-quarter 2012 net income of $11.4 million, or 23 cents per diluted share, compared to net income of $8.7 million, or 17 cents per diluted share, in the second quarter of 2011.
CP earnings up for second quarter and first half
Canadian Pacific Railway announced Wednesday that it earned net income of C$103 million (roughly US$101 million) and diluted earnings per share of 60 Canadian cents, “inclusive of the negative impact of approximately [C]$0.30 from significant items including management transition and advisory costs.” In addition, a nine-day strike following the railroad’s takeover in a proxy fight is estimated to have reduced EPS by 25 to 30 Canadian cents.
Denver RTD approves LRT extension to Aurora
Denver’s Regional Transportation District on Tuesday unanimously approved a design-build contract with Kiewit Infrastructure Co. to extend RTD’s light rail system to Aurora, Colo.