CALGARY — Michael Redeker has been appointed Canadian Pacific’s Vice President and Chief Information Officer (CIO) for the railway. The appointment is effective October 15, 2012. Redeker was most recently Chief Information Officer at ATB Financial. As CIO, Redeker will be responsible for re-defining CP’s future strategic information technology (IT) roadmap, improving asset utilization, market growth, shipment management, and employee productivity. He will report directly to President and CEO E. Hunter Harrison. “I welcome Mike to our leadership team and look forward to working with him on delivering strategic IT activities that will translate into operational efficiencies,” said Harrison. “Our
WASHINGTON – The federal government has awarded more than $74.8 million to the Commonwealth of Virginia to continue development of the Southeast High-Speed Rail Corridor. The funding will help improve passenger and freight rail service between Virginia and Washington, D.C. and reduce delays on the Virginia Rail Express (VRE) commuter service, according to the feds. “The Southeast High-Speed Rail Corridor between Charlotte and Washington D.C. serves one of the fastest growing regions in the country, which is why it is critical to eliminate congestion points so that intercity passenger, freight and commuter rail can all run smoothly without delays,” U.S.
JACKSONVILLE, Fla. — CSX Corp. was named to the Dow Jones Sustainability Index (DJSI) for North America for the second consecutive year and was the only U.S. railroad listed in 2012. “Sustainable practices improve today’s operations and position CSX for a strong future,” said Michael J. Ward, chairman, president and chief executive officer. “CSX remains committed to transparency and accountability and will continue to implement new sustainability strategies as our business grows.” CSX received high marks for its work in climate change strategies and environmental management, as well as in corporate governance and human capital development. CSX recently committed to
NORFOLK, Va. — Norfolk Southern Corp. said third quarter 2012 earnings are expected to be in the range of $1.18 to $1.25 per diluted share, primarily due to volume declines in certain markets and lower revenues from fuel surcharges. Decreased coal and merchandise shipments, offset in part by growth in intermodal volumes, are together expected to reduce revenues by approximately $120 million compared with third quarter 2011. Fuel surcharge revenues are anticipated to be approximately $80 million below the same period last year, the company said. Third quarter 2011 fuel surcharge revenues included a favorable lag-effect of $52 million, whereas
WASHINGTON –Amtrak ridership is surging this year with 11 consecutive monthly ridership records. In each month of the current fiscal year, Amtrak has posted the highest ridership total ever for that particular month (i.e., the best October ever, the best November ever, etc.) with the final month of September also expected to be a new record. In addition, July was the single best ridership month in the history of Amtrak. “All across America the demand to travel by Amtrak is strong, growing and undeniable,” said President and CEO Joe Boardman. “Amtrak continues to deliver on its mission to fulfill a
MONTREAL — CN said it is acquiring more than 2,200 new freight cars in 2012, as well as 1,300 new containers, to support traffic growth and improve customer service. “CN is acquiring new freight cars and containers for a range of markets, including forest products, metals, minerals, coal, iron ore, steel, consumer goods, finished vehicles, and grain,” Jean-Jacques Ruest, executive vice-president and chief marketing officer, said. “These fleet additions will help us grow in line with our customers’ demands and ensure CN has the right mix of modern, productive assets.” CN’s largest rolling stock addition in 2012 is the acquisition