NORFOLK, Va. — Employees of Norfolk Southern Corp. are teaming up with the Appalachian Trail Conservancy and local trail-maintaining clubs in a one-day “Spruce-It-Up” campaign to clean and improve one of the nation’s longest and most popular scenic trails. The 2,175-mile Appalachian Trail roughly parallels the 2,500-mile Crescent Corridor, a multistate freight rail network that Norfolk Southern is improving with the help of local, state, and federal partners to create green jobs, stimulate local economies, and help relieve highway congestion. “These two initiatives – the Appalachian Trail and the Crescent Corridor – demonstrate how the employees of Norfolk Southern share
OMAHA, Neb. — Union Pacific Corp. reported 2010 second quarter net income of $711 million, or $1.40 per diluted share, compared to $465 million, or $0.92 per diluted share, in the second quarter 2009. Second quarter 2009 net income included $72 million, or $0.14 per diluted share, related to a Colorado land sale. “Beyond strong earnings growth, the real highlight was achieving a 69.4 percent operating ratio – our first sub-70 quarterly mark, ” said Jim Young, Union Pacific chairman and chief executive officer. “We demonstrated great volume leverage, efficiently handling an 18 percent increase in carloadings at modest incremental
MONTREAL — CN said its Board of Directors has approved a third-quarter 2010 dividend on the Company’s common shares outstanding. A quarterly dividend of 27 cents (C$0.27) per common share will be paid on Sept. 30, 2010, to shareholders of record at the close of business on Sept. 9.
MONTREAL — CN reported its financial and operating results for the second quarter and first half ended June 30. Second-quarter 2010 highlights: — Net income and diluted earnings per share (EPS) increased by 38 percent from the year-earlier quarter to C$534 million and C$1.13 — Diluted EPS of C$1.13 increased by 49 per cent over adjusted diluted EPS of C$0.76 for the second quarter of 2009. — Revenues rose 18 per cent to C$2,093 million, while carloadings increased 27 per cent and revenue ton-miles rose 15 per cent. — Operating income increased 39 percent to C$813 million. — Operating ratio
WASHINGTON — The National Gateway has announced its participation in the American Road and Transportation Builders Association (ARTBA) Public-Private Partnerships in Transportation Conference, a leading industry event on private financing of transportation projects on July 22-23 in Washington. “Public-private partnerships offer tremendous value to businesses and taxpayers while also spurring job creation and economic growth,” said Louis Renjel, vice president of strategic infrastructure initiatives, CSX Transportation. “By working together, the public and private sector can speed delivery of transportation solutions like the National Gateway, which will improve shipping options, reduce fuel consumption, lighten the load on our nation’s highways and
OMAHA, Neb. — Owens Corning recently named Union Pacific Railroad as a 2009 Global Logistics Carrier Excellence award recipient. Union Pacific, the only railroad to receive the award, was recognized for superior on-time performance while significantly contributing to the success of the entire Owens Corning enterprise in 2009. “It is quite an honor to receive this recognition from Owens Corning,” said Eric Butler, Union Pacific vice president – Industrial Products. “We constantly look for ways to add value for our customers by listening to their needs and providing the most efficient and effective transportation solutions.” Owens Corning annually recognizes carriers of
WASHINGTON — Federal Railroad Administrator (FRA) Joseph Szabo has announced a Final Rule requiring railroad track owners to adopt and follow specific procedures to protect the safety of their bridges, and to strengthen federal oversight of railroad bridge maintenance programs. This rule is a requirement under the Rail Safety Improvement Act of 2008. “This Final Rule will help ensure the 100,000 railroad bridges in the United States are maintained and inspected to the standards accepted by sound engineering practices,” said Transportation Secretary Ray LaHood. “The structural integrity of bridges that carry railroad tracks is vitally important to the safety of
JACKSONVILLE, Fla. — CSX Corp. has announced an extension of the offer to exchange up to $660 million of its issued and outstanding 6.220 percent notes due 2040 for a like principal amount of its 6.220 percent notes due 2040, which have been registered under the Securities Act of 1933. CSX has extended the exchange offer related to the Notes so that it will now expire at 5:00 p.m. New York City time on July 15. Copies of the exchange offer documents can be obtained by contacting The Bank of New York Mellon Trust Company, N.A., the exchange agent for
JACKSONVILLE, Fla. — The Board of Directors of CSX Corp. has approved a $0.24 per share quarterly dividend on the company’s common stock. The dividend is payable on September 15, 2010, to shareholders of record at the close of business on Aug. 31.
WASHINGTON — In January, President Obama announced that North Carolina was awarded $545 million in American Recovery and Reinvestment Act (ARRA) funds to continue its development of high-speed intercity rail. Transportation Secretary Ray LaHood has announced that the U.S. Department of Transportation and the State of North Carolina have finalized a grant agreement for $20.3 million, the first installment of the $545 million awarded to the state. “President Obama’s bold vision for high-speed rail is a game changer for U.S. transportation,” LaHood said. “We’re improving North Carolina’s transportation infrastructure while putting people back to work. That’s a win for everyone.”