Norfolk Southern increases capital spending
Norfolk Southern has announced a $2.4 billion capital improvement program for 2012, 12% higher than 2011 spending.
news
Bombardier partnership eyes “green train”
New generation trains running on existing track can easily combine higher speeds, lower energy consumption, reduced noise, and lower costs, according to findings by Swedish researchers released Wednesday in Stockholm. The four-year project was supported by three major partners, including Bombardier Transportation, Bombardier said.
UP posts record low employee injury rate
Union Pacific Railroad employees achieved a record low 1.15 reportable injury rate in 2011, the best performance on record in the company’s 150-year history, according to a UP announcement Tuesday.
Video Interview: 2012 Railroader of the Year
Kansas City Southern President and Chief Executive Officer David L. Starling, Railway Age’s 2012 Railroader of the Year, talks about his career path, his international experience, and KCS’s recent achievements and growth projections in this video interview with Editor-in-Chief William C. Vantuono.
NS earnings, revenue records topple
Norfolk Southern late Tuesday reported a series of significant records for 2011: Railway operating revenues reached $11.2 billion, up 17%; income from railway operations climbed 20% to $3.2 billion; net income was $1.9 billion, up 28%; and diluted earnings per share increased 36% to $5.45.
CN quarterly earnings beat Street
Canadian National Tuesday reported net earnings of C$592 million, or C$1.32 per share, up 18% from C$503 million or C$1.08 per share in the same quarter a year ago. Adjusted earnings of C$1.30 handily surpassed Wall Street consensus estimates of C$1.24. Revenue rose 12% C$2.38 billion, a record, that also surpassed Street estimates of C$2.30 billion.
Improvements spur PATH to ridership record
The bistate, trans-Hudson PATH rail system rolled to a record ridership 76.6 million trips in 2011, an achievement that the Port Authority of New York & New Jersey notes followed the investment of more than $1 billion in PATH during the past four years for new cars, station upgrades, and a new signal system.
CSX 4Q, full year set records; Street shrugs
CSX Corp. said late Monday fourth-quarter earnings of 43 cents per share, up 13% from 38 cents per share in the fourth quarter of 2010, as it recorded revenue of about $3.0 billion and operating income of $841 million. CSX also notched an operating ratio of 71.5%.
MTA railroads issue “Pledge to Customers”
New York MTA’s two regional railroads, Metro-North Railroad and the Long Island Rail Road, on Monday presented a formal “Pledge to Customers” during the MTA Railroad Committee meeting, with both entities promising, in writing, to provide safe and reliable service.
Bechtel team completes Dulles rail tunnel
The Bechtel-led consortium building the Dulles Corridor Metrorail project for Metropolitan Washington Airports Authority has completed the tunnel that will carry the future rail line under a portion of Tysons Corner, Va.
CSX names Munoz COO, Eliasson CFO
CSX Corp. Monday said it had appointed Oscar Munoz as executive vice president and chief operating officer and appointed Fredrik J. Eliasson as executive vice president and chief financial officer, effective immediately.
KCS notches records for 4Q, full year
Kansas City Southern late Monday said it had notched record fourth-quarter revenue of $530 million, up 11% from the comparable quarter in 2010, while generating operating income of $150 million, up 11% from $135 million a year ago.
Nominations sought for Shortline/Regional Railroad of the Year
Railway Age is now accepting entries for its annual Short Line/Regional Railroad of the Year competition. Short lines and regionals—and there are more than 500 of them—are invited to submit entries describing outstanding achievement in one or a combination of areas.
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CN, CP reach accord for potash shipments
Canadian National and Canadian Pacific reached separate 10-year agreements with Canpotex Ltd. to transport potash volumes that Canpotex ships to export markets. Under CP’s agreement, CP will be Canpotex’s principal Canadian railway, transporting a large majority of potash shipments to Canpotex’s main terminal in Vancouver, British Columbia. In addition, in conjunction with Union Pacific, CP will transport significant Canpotex potash shipments to Portland, Ore.
BNSF offers new online tools for shippers
BNSF Railway Monday announced the release of two new online tools —Carload Shipping Advisor and Serving Carrier Reciprocal Switch Inquiry— that it says “allow customers to compare shipping options by price, equipment, and route for multiple origins and destinations.”
Union Pacific No. 5 on top 50 companies list
Bloomberg BusinessWeek magazine has listed Union Pacific No. 5 on its 2012 list of top 50 performing companies. The Bloomberg BusinessWeek 50 evaluates companies on one-year and five-year risk-adjusted returns, consensus analyst ratings, and projected earnings growth. Companies are ranked against other members of the S&P 500 stock index.
Thales lands Hong Kong airport APM contract
Neuilly-sur-Seine, France-based Thales Group said Monday it has been awarded a contract by IHI Corp. to resignal and upgrade the automated people mover (APM) located within Hong Kong international airport.
Railway Age launches new website
Railway Age Publisher Jonathan Chalon on Friday announced the “official launch of the new Railway Age website.”
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