In comments filed with the Surface Transportation Board regarding Reciprocal Switching, STB Ex Parte No. 711 (Sub-No. 1), the Association of American Railroads said the proposed rules are “unlawful” and “contrary to established law dating back well before the Staggers Act.”
Investors tend to be a fickle, knee-jerking lot, and when it comes to railroads or railroad suppliers, often clueless. Case in point: The Greenbrier Companies stock price taking a 6.52% hit after GBX posted a very solid fourth fiscal quarter and fiscal year 2016.
Luc Jobin, CN President and CEO, announced CN’s third-quarter 2016 results on Oct. 25: “With solid execution from our industry-leading operating team and a network-wide focus on providing quality service, CN delivered outstanding results in the third quarter while facing a still sluggish North American and global economy.”
The Association of American Railroads says the Department of Transportation should withdraw its rule on electronically controlled pneumatic (ECP) brakes for crude oil trains after a review released Oct. 12 by the United States Government Accountability Office.
Union Pacific’s ‘Living Legend’ No. 844 steam locomotive will travel more than 1,200 miles one-way to celebrate the Oct. 22 opening of Big River Crossing in Memphis, Tennessee. The trek is the first multi-state venture since the locomotive’s three-year restoration.
LJA Engineering announced that Mehdi Nezami, PE has been promoted to Senior Project Manager in its Land Division.
The Surface Transportation Board (STB or Board) on Sept. 22 released an independent study it commissioned from InterVISTAS Consulting LLC that examined the STB’s approach to freight rail rate regulation and options for simplification of that approach. Edward R. Hamberger, President and CEO of the Association of American Railroads (AAR), says the findings confirm the critical need for sound economic regulation, and on Sept. 23 issued the following statement:
GE Transportation, in collaboration with Intel Corp., introduced a “superbrain” platform solution for locomotives that transforms them into mobile data headquarters, “helping make trains smarter and faster.”
The economy remains “tepid” and surface transportation companies “remain focused on controlling costs, limiting capex and searching hard for growth opportunities,” according to Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl, reporting on the firm’s 9th Annual Global Transport Conference in Boston. “There were some bright spots specifically surrounding recent sequential upticks in agricultural products and coal carloads.”