CP appoints Demosky as Exec VP, CFO
Canadian Pacific has announced that Bart Demosky has been appointed Executive Vice-President and Chief Financial Officer, effective Dec. 28, 2013.
Management
UP renews share repurchase program ahead of schedule
Union Pacific’s Board of Directors on Thursday, Nov. 21, 2013, approved the early renewal of its share repurchase program, authorizing repurchase of up to 60 million common shares by Dec. 31, 2017.
NS achieves best-ever CDP score
Norfolk Southern said Wednesday, Nov. 20, 2013, it has achieved its best-ever score in CDP (Carbon Disclosure Project) reports that grade large U.S. and global companies on how well they measure and manage their carbon footprint.
UP to grain customers: We can handle it
Union Pacific shipped an all-time-high number of grain trains to the Pacific Northwest in October 2013, and says it is poised to help its customers take advantage of a record grain harvest.
KCS revamps operations department
Kansas City Southern announced the reorganization of several operations department functions late Friday, Nov. 15, 2013.
Commentary
U.S. energy independence—with the railroad industry’s help
Largely based upon increasing output from shale formations, the United States will surpass Russia and Saudi Arabia as the world’s top oil producer by 2015, and be close to energy independence in the next two decades, according to the International Energy Agency (IEA), a Paris-based adviser to 28 energy-consuming nations. And based upon huge increases in CBR (crude by rail) traffic in the past two years—safety and regulatory issues notwithstanding—the railroads will be playing an increasingly important role.
CP Holiday Trains ready to roll
Canadian Pacific’s annual Holiday Train program, now in its 15th year, is one of the longest-running fundraising programs in North America. Each 1,000-foot Holiday Train—one operating in Canada, one in the U.S.— consists of 14 brightly decorated railcars, including a modified boxcar that has been turned into a traveling stage for performers.
STB decision upholds federal preemption of state statutes
The Surface Transportation Board has ruled that claims filed against Norfolk Southern in certain Virginia state court lawsuits are preempted by federal law. STB, in “NORFOLK SOUTHERN RAILWAY COMPANY—PETITION FOR DECLARATORY ORDER” (Docket No. FD 35701), granted NS’s petition on Nov. 4, 2013.
Destination America: The Alaska Railroad
The television network “Destination America,” which is part of the Discovery Communications group of networks (TLC, Animal Planet, etc.), will be premiering a new series, “Railroad Alaska,” on Saturday, Nov. 16.
Alaska Railroad names new COO
The Alaska Railroad has named Chief Mechanical Officer Doug Engebretson as Chief Operating Officer, a position left vacant when former COO Bill O’Leary was promoted to President and CEO on Nov. 1. Engebretson’s promotion was effective November 8.