The slump continued for U.S. railroad freight traffic during the week ended February 21, compared with traffic in 2008, the Association of American Railroads reports. U.S carload freight fell 14.2% from the comparable week in 2008, with declines of 12.8% in the West and 16.0% in the East.
Facing $45 million in service cuts targeted for light rail and bus operations by March 30, St. Louis officials are seeking ways to apply $12 million in federal stimulus funds to blunt the budget knife. The $12 million, if able to be applied to operations, “means that close to a quarter of the deficit will be resolved if this switch goes through, and that’s going to go to restoring service,” said D.J. Wilson, a spokesman for East West Gateway Council of Governments, in St. Louis.
Austin, Tex.’s Capital Metropolitan Transportation Authority says testing and training for its 32-mile passenger rail line is behind schedule, and could further delay the route’s operational debut, currently set for March 30.
Portec RailProducts, Inc. Thursday said its unaudited fourth-quarter net income was $1.5 million, or 16 cents a share, up 32% from $1.15 million in the fourth quarter of 2007.
The Obama Administration Thursday unveiled a budget plan that identifies $5 billion in funding over a five-year period for “high speed” passenger rail projects in the U.S., supplementing the $8 billion it provided in its stimulus package for a two-year period.
The Obama Administration Feb. 26 unveiled a budget plan that identifies $5 billion in funding over a five-year period for “high speed” passenger rail projects in the U.S., supplementing the $8 billion it provided in its stimulus package for a two-year period.
Crediting strength in its transit and transportation markets, Wilmerding, Pa.-based Wabtec Corp. Wednesday said it posted fourth-quarter net income of $31.1 million, or 64 cents per share, on sales of $405.2 million. That compares with net income of $28.7 million, or 58 cents per share, on sales of $365.2 million in the fourth quarter of 2007, or a 9% jump in fourth-quarter profit. Per-share results were short of analyst expectations of 65 cents per share on revenue of $391 million.
Crediting strength in its transit and transportation markets, Wilmerding, Pa.-based Wabtec Corp. Feb. 25 said it posted fourth-quarter net income of $31.1 million, or 64 cents per share, on sales of $405.2 million. That compares with net income of $28.7 million, or 58 cents per share, on sales of $365.2 million in the fourth quarter of 2007, or a 9% jump in fourth-quarter profit. Per-share results were short of analyst expectations of 65 cents per share on revenue of $391 million.
Canadian National has filed an appeal in U.S. federal court challenging a mandate issued by the Surface Transportation Board that it pay the majority of costs for two rail crossing upgrades on the Elgin, Joliet & Eastern Railway Co., which it acquired in January for $300 million.
The Fort Worth Transportation Authority has completed an environmental study assessing commuter rail service from southwest Fort Worth to Dallas/Fort Worth International Airport. The proposed service, possibly using diesel multiple-unit (DMU) trains, would interface with existing DART light rail service at the Airport.
