WASHINGTON –Three Class I railroads, the BNSF Railway Co., the Norfolk Southern Railway Co., and the Soo Line Railroad Co. (a subsidiary of Canadian Pacific Railway Co., were revenue adequate for 2006. All other Class I freight railroads were found to be revenue inadequate for that year. The Surface Transportation Board made its determinations of revenue adequacy for the seven Class I freight railroads (the Nation’s largest) for 2006. A railroad is considered to be revenue adequate if it achieves a rate of return on net investment (ROI) equal to at least the current cost of capital (i.e., the cost
BREWTON, Ala. — CSX Transportation will hold several railroad safety awareness activities on May 6 in conjunction with the Brewton Police Department, the Brewton Fire Department as well as Alabama Operation Lifesaver Volunteers. A safety blitz will take place at the CSXT railroad crossing at Mildred and Deer Streets from 9-11 a.m. Drivers in that area will be greeted by CSXT employees, Operation Lifesaver volunteers and area first responders, who will distribute safety flyers to drivers while they are stopped at the red lights on either side of the street approaching the crossing. In addition, CSXT will conduct a Railroad
WASHINGTON — The Metropolitan Washington Airports Authority (MWAA) has substantially improved its proposal to extend Metrorail, responding various concerns the Department of Transportation raised in January, the Federal Transit Administration (FTA) announced. “Consequently, we have sent the required 10-day notification to Congress that we intend to move the project into the Final Design stage of FTA’s New Starts Process,” Federal Transit Administrator James S. Simpson said in a statement. “FTA will commit $158.7 million to use toward completion of a financial plan, construction plans, detailed engineering specifications and cost estimates, and other technical requirements. “However, there are still hurdles facing
WASHINGTON — The Federal Railroad Administration has awarded two grants to the Washington State Department of Transportation to improve rail safety and upgrade infrastructure. A $1.5 million grant for the Tacoma Rail Mountain Division will be used to upgrade four bridges and repair rail, crossties, and equipment on several highway/rail grade crossings between Tacoma and Morton. These safety improvements will benefit freight as well as passenger excursion operations to Mt. Rainier National Park. In addition, $360,943 has been granted for the Olympia Infrastructure Enhancement Project to improve safety at the Market Street highway/rail grade crossing adjacent to the Port of
JACKSONVILLE, Fla. — CSX Corp. announced that it has filed an investor presentation with the Securities and Exchange Commission in connection with the company’s 2008 annual meeting of shareholders, which is scheduled for Wednesday, June 25. “CSX’s Board of Directors has driven extraordinary shareholder returns, financial and operational performance, and excellence in corporate governance and offers a compelling future outlook,” said Michael J. Ward, CSX chairman, president and chief executive officer. “We look forward to meeting with CSX investors to discuss our track-record of success and concrete plans to continue to create value for all shareholders. We believe that the
DUBLIN, Ohio — CSX Corp. has launched the National Gateway, a $700 million public-private infrastructure initiative to create a highly efficient freight transportation link between the Mid-Atlantic ports and the Midwest. When completed, the National Gateway would provide greater capacity for product shipments in and out of the Midwest, reduce truck traffic on already crowded highways, and create thousands of jobs that directly or indirectly support the National Gateway. CSX has already committed $300 million to the National Gateway, and will work with several states and the federal government to secure additional funding. The National Gateway incorporates two primary parts.