Milo E. Riverso, Ph.D., P.E., has been named president of STV, Inc., with the company’s four operating divisions—Buildings and Facilities, Construction Management, Emerging Markets, and Transportation and Infrastructure—reporting to Riverso.
While casting a wary eye on potential customer declines for 2009, Metro-North Railroad has reported anew record of 84 million rides in 2008, its 25th year of operations.Ridership in 2008 was up 3.9% compared with 2007 figures, and includescustomers using the railroad’s connecting ferry and bus services, mostly inWestchester County, N.Y.
The Surface Transportation Board has issued a final decision on its method for calculating the railroad industry’s cost of capital. STB has adopted a simple average of a Capital Asset Pricing model (CAPM) and a multi-stage Discounted Cash Flow (DCF) model to calculate the cost of equity, which is one component of the cost of capital. STB said this methodology “will yield a more precise determination than relying on CAPM alone.”