RailAmerica, Inc. has reported second-quarter 2012 net income of $11.4 million, or 23 cents per diluted share, compared to net income of $8.7 million, or 17 cents per diluted share, in the second quarter of 2011.
Greenwich, Conn.-based Genesee & Wyoming Inc. said Monday it has entered into an agreement to acquire Jacksonville, Fla.-based RailAmerica, Inc. The all-cash acquisition, at $27.50 per share, would amount to roughly $1.4 billion.
The American Short Line and Regional Railroad Association (ASLRRA) Friday said it had reached a major milestone “by securing the 51st Senate co-sponsor of legislation to extend the short line rehabilitation tax credit (45G). The legislation has now been sponsored by a majority of both Houses of Congress.”
Transportation management company OmniTRAX, Inc. said late Thursday that Managing Director and Executive Vice President Mike Ogborn will retire. No specific date was given.
July 19, 2012 marks the 25th anniversary of Red River Valley & Western Railroad Co. (RRV&W), based in Wahpeton, N.D., the regional railroad announced Tuesday.
Greenwich, Conn.-based Genesee & Wyoming, Inc. Monday released its freight traffic results for the second quarter, noting total freight carload traffic fell 6.9% compared with the second quarter of 2011.
Fairport, N.Y.-based RailComm said Friday it has been chosen to provide its state-of-the-art Domain Operations Controller (DOC®) train control system for Emmett, Idaho-based Rio Grande Pacific Corp. (RGPC).
Over the last six months or so as I’ve made my rounds visiting short lines, regional railroads, and Class I’s from the locomotive cab to the executive suite, I’ve found a refreshing sense of renewed purpose. I’m seeing a real desire to find the right combination of professionalism, accommodation, and consistency that will build a sustainable and profitable enterprise.
The freight railroads, intercity passenger and commuter railroads, and rail supply companies of the United States expect to hire more than 5,000 veterans in 2012.
Pittsburgh-based Railroad Development Corp. Thursday said it “has prevailed in its five‐year international arbitration against the Republic of Guatemala brought under the Dominican Republic‐Central America Free Trade Agreement (CAFTA).”