The Association of American Railroads (AAR) said Monday it has petitioned the Surface Transportation Board (STB) to initiate a rulemaking that would propose re-introducing indirect competition— specifically product and geographic competition for fuel used to generate power— as a factor to be considered in determining if the STB has jurisdiction to hear rate cases involving the transportation of coal to coal-fired power plants.
Chicago-based Iowa Pacific Holdings, LLC Tuesday announced its acquisition of a controlling interest in Cape Rail, Inc., and its subsidiaries, Massachusetts Coastal Railroad, LLC and Cape Cod Central Railroad.
Figures released by the Surface Transportation Board Friday show Class I railroads employed 160,428 people in mid-September, up a modest 0.12% from September 2011, but down 1.39% (95 employees) from August 2012.
Genesee & Wyoming Inc. Monday said it has completed its acquisition of RailAmerica, Inc., and also “entered into a new five-year Senior Secured Credit Facility comprised of a $1.875 billion term loan and $425 million revolving credit facility.”
The Surface Transportation Board has directed BNSF Railway’s parent, Berkshire Hathaway, to “promptly remedy its noncompliance with railroad control requirements” stemming from its acquisition of BNSF in 2010.
Class I railroad employment totaled 161,134 in August, down 0.54% from July, though maintaining an edge of 0.64% over August 2011, according to figures released Thursday by the Surface Transportation Board.
The Surface Transportation Board announced Friday that it had determined the railroad industry’s after-tax cost of capital for 2011 to be 11.57%, compared with 11.03% for the prior year.
