In comments filed with the Surface Transportation Board’s Ex Parte 726, Notice of Proposed Rulemaking on On-Time Performance under Section 213 of the Passenger Rail Investment and Improvement Act of 2008 (PRIIA), Amtrak says that the only viable method of measuring passenger train on-time performance on a host freight railroad is one that includes intermediate stations as well as endpoints.
A U.S. Class I railroad has awarded Duos Technologies Group, Inc. a contract for a Vehicle Undercarriage Examiner (vue™) imaging system. The name of the railroad was not disclosed.
Railway Age’s inaugural Fast Trackers—10 Rising Stars Under 40, are ten individuals under the age of 40 who have made an impact in their respective fields or within their company.
For a fourth consecutive season, CSX and Front Row Motorsports will join forces to promote public safety around railroad tracks with the No. 34 “Play It Safe” Ford Fusion in NASCAR’s 2016 Sprint Cup Series. This season, 2015 Xfinity Series Champion and 2016 Sprint Cup Series Rookie of the Year candidate Chris Buescher will drive the 34, which will be powered by Ford engines sourced from Roush-Yates Engines.
The crude by rail (CBR) boom that less than two years ago preoccupied the industry and generated intense regulatory scrutiny is, for all intents and purposes, over, according to a new analysis by RBN Energy.
The Greenbrier Companies, Inc. announced on Feb. 3, 2016 that its CFO, Mark J. Rittenbaum, has been promoted to the newly created position of Executive Vice President, Commercial, Leasing and Finance. Additionally, Lorie L. Tekorius, Senior Vice President and Treasurer, has been promoted to Senior Vice President, Chief Financial Officer and Treasurer. Both Rittenbaum and Tekorius will report to Chairman and CEO William A. Furman.
Continuing its hostile pursuit of Norfolk Southern, and faced with some stiff political and rail industry opposition in the U.S., Canadian Pacific on Feb. 3, 2016 released a white paper, CP-NS: A Comprehensive Approach to Regulatory Approval “detailing the comprehensive, merit-based process any merger application would be subject to at the Surface Transportation Board,” CP said.
Norfolk Southern shareholders “continue to find themselves in the enviable position of having two Class I management teams competing to maximize shareholder value,” says Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl.
Though Norfolk Southern’s fourth-quarter and 2015 financial results aren’t all that different from those of most other Class I railroads, NS has been particularly compelled to develop an aggressive strategic plan because it is fending off a hostile takeover attempt.
Despite decreases in carloadings and revenue ton-miles, CN on Jan. 26, 2015 posted solid financials for fourth-quarter and full-year 2015. Significant in its results are record free cash flow and full-year earnings, and an operating ratio well below 60. The strength of the U.S. dollar figured in.