Mexican proposal threatens KCS bottom line
Shares of Kansas City Southern have been hammered as investors react to actions by Mexico’s legislature which could seriously impact the Class I railroad’s bottom line.
Author: Douglas John Bowen
Wabtec cites record 4Q earnings, good year
Wabtec Corp. early Wednesday, Feb. 19, 2014, reported “record results” in its fourth quarter, including earnings per diluted share of 76 cents. Net income for the fourth quarter was $74 million, up from $64.8 million in the fourth quarter of 2012.
Court decisions clear way for Honolulu rail
Two court victories for Hawaii pro-rail forces on Tuesday, Feb. 18, 2014, have removed significant obstacles confronting the controversial $5.26 billion Honolulu Rail Transit project designed to serve the island of Oahu.
FreightCar America logs loss for 4Q, full year
FreightCar America, Inc. reported a fourth-quarter loss following the close of trading Tuesday, Feb. 18, 2014, with its rail division contributing to the shortfall. The company’s fourth quarter net loss was $12.3 million, or a loss of $1.03 per diluted share, on revenue of $79.7 million.
Irving Oil sets tank car conversion plan
Saint John, New Brunswick-based Irving Oil Ltd. announced plans Monday, Feb. 17, 2014, to voluntarily convert its older DOT-111 tank cars used in crude-by-rail (CBR) business—which has soared in recent years—to meet higher recommended safety standards by the end of April.
Courts clash over California HSR
A California appeals court has put on hold an earlier legal order by a Superior Court judge halting funding of California’s high speed rail project, saying it will review the matter over funding.
Florida funds to aid FEC airport access
Florida Gov. Rick Scott announced Monday, Feb. 17, 2014 a financial package of up to $215 million to assist construction of a rail station at Orlando International Airport.
Atlanta gets first two Siemens S70 streetcars
The first Siemens S70 streetcar destined to ply the streets of downtown Atlanta arrived in Georgia’s capital city Monday, Feb. 17, 2014, while a second car was slated to arrive on the property Tuesday.
RailComm derail system employed in KC diesel shop
Fairport, N.Y.-based RailComm said Thursday, Feb. 13, 2014 that a North American railroad yard in Kansas City, Kan., has added a remote control derail system to the diesel shop.
Back to mixed results for U.S. freight traffic
Resuming a pattern predominant through 2013, U.S. intermodal volume gained ground, while U.S. carload freight fell short, during the week ending Feb. 8, 2014, the Association of American Railroads reported Thursday, Feb. 13.