CSXT and NSR File Registration Statements with SEC to Exchange Debt Securities for Conrail’s Debt Securities

April 23, 2004 Railfanning.org News Wire 0

WASHINGTON – CSX Transportation, Inc. (CSXT) and Norfolk Southern Railway Company (NSR) on April 23 said they have taken a key step in establishing direct ownership and control of the two Consolidated Rail Corporation (Conrail) subsidiaries that contain the Conrail assets they currently separately operate. CSXT and NSR each have filed a Registration Statement on Form S-4 with the Securities and Exchange Commission (SEC) that describes an offer to exchange new unsecured debt securities of CSXT and NSR and cash for unsecured debt securities of Conrail. The filings initiate the final stage in implementing the restructuring of Conrail’s unsecured indebtedness

Amtrak: State-of-Good-Repair is Aim of FY ’05 Proposal

April 15, 2004 Railfanning.org News Wire 0

WASHINGTON – Amtrak President and Chief Executive Officer David L. Gunn has sent the railroad’s FY ’05 federal grant request of $1.798 billion to Congress. Continuing Amtrak’s comprehensive effort to return the railroad to a state-of-good-repair, the request would fund $791 million in capital projects, provide $570 million for operations and repay a $100 million federal loan obtained in 2002.  The balance of the request is for debt service and working capital.    “As we enter the second year of our five-year strategic plan, this request should come as no surprise to anyone. When we announced our plan last February, we said

N.O. Reopens Historic Streetcar Line After 40 Years

April 14, 2004 Railfanning.org News Wire 0

NEW ORLEANS – For the first time in 40 years, the New Orleans Regional Transit Authority will resume revenue service of the Canal Streetcar line. "The new Streetcar will be a bright, functional and most-welcomed addition to our city," said Sandra Shilstone, president and CEO of the New Orleans Tourism Marketing Corporation. "Generations of New Orleanians have ridden the Streetcar to and from work, and visitors love the old-world charm of the ride." The new Canal Streetcar will take thousands of locals and tourists to work and play each day as it travels the 5.5-mile route from the French Market,

No Fare Hike for N.J. Transit

April 14, 2004 Railfanning.org News Wire 0

NEWARK, N.J. — For the second straight year, Governor James E. McGreevey’s budget calls for N.J. Transit fares remain at their current level. "Public transportation must remain affordable for the hundreds of thousands of hard-working New Jerseyans who commute to work every day," McGreevey said. "This is an important addition to their quality of life – and yet another way we’re investing to keep New Jersey’s economy the strongest among the Northeastern states." In keeping the fares the same this year, McGreevey decided to allocate an extra $85 million to N.J. Transit. These additional funds, combined with internal cost efficiencies,

Metra Launches Aggressive Safety Campaign

April 14, 2004 Railfanning.org News Wire 0

CHICAGO — Responding to recent deaths of three local youths, Metra is launching its most aggressive public safety effort in its nearly 20-year history, aimed specifically at keeping children safe around railroad property. "These recent events have deeply saddened all of us here at Metra," Metra Chairman Jeffrey Ladd said. "We are reaching out to everyone in the community — including police officers, educators, parents and the children themselves — asking them to get out the message that railroad safety has to be taken seriously in order to prevent any more tragedies like these. … Railroad tracks are unsafe for

Transit Leader Testifies on Importance of Security

April 14, 2004 Railfanning.org News Wire 0

WASHINGTON — In testimony before the full Senate Commerce, Science and Transportation Committee, on the safety and security of passenger rail and public transportation systems, the American Public Transportation Association (APTA) highlighted an identified $6 billion in critical security needs to keep America’s public transportation systems safe. “In the United States, more than 9 1⁄2 billion trips are taken on public transportation systems every year. 32 million times every weekday Americans board public transportation vehicles throughout the country-in urban, suburban, and rural communities,” said APTA President William W. Millar. “To put it in perspective, 16 times more Americans travel by

CPA: UP Should Disclose Political Contributions

April 12, 2004 Railfanning.org News Wire 0

WASHINGTON – As part of a campaign to bring transparency and accountability to corporate political contributions, the Center for Political Accountability (CPA) is urging Union Pacific Corporation shareholders to support a resolution that asks the company to disclose and explain the business purpose of its political donations. Union Pacific, the nation’s largest railroad company, currently does not make public its political contributions or tell shareholders how it decides on donations made with corporate assets. The disclosure resolution will be voted on at its annual meeting on April 16 in Salt Lake City, Utah. “Corporate political giving runs the risk of

Marta Faces $6 Million Shortfall

April 10, 2004 Railfanning.org News Wire 0

ATLANTA – It’s a budget shortfall to the tune of $6 million. In response, MARTA officials are turning to the public, holding a series of hearing to gather input as the next budget year approaches. “We’ve reduced our costs, but the economic recession has left us with no choice but to propose service modifications,” MARTA General Manager/CEO Nathaniel P. Ford Sr. said in a statement posted online. “And unfortunately, MARTA could see more changes in the heart of its service next year and the year after if new sources of revenue aren’t identified.” MARTA says it will have to reduce

One Killed, Dozens Injured in Amtrak Derailment

YAZOO CITY, Miss. – One person was killed and dozens more injured when the northbound City of New Orleans derailed Tuesday (April 6). Meanwhile, members of Amtrak’s customer care team arrived at the wreck scene, about 25 miles north of Jackson, Miss. The team provided assistance for passengers, including accommodations, clothing, transportation and communication. At the time of the wreck, there were 73 people aboard the train – 61 passengers and 12 crewmembers. Injured passengers were taken to six area medical facilities, where most were treated and released; four persons were admitted. One person – 68-year-old Clara L. Downs of

Group: Calif. High Speed Rail Could be ‘Train Wreck’

SACRAMENTO, Calif. – A proposed high-speed rail system through California’s Central Valley could cause an agricultural, environmental and financial “train wreck” if it promotes more urban sprawl, according to American Farmland Trust. At a public hearing held in March, Edward Thompson, Jr., the organization’s state director, said the environmental report underestimates the impact the rail project will have on agriculture. Thompson called on local and state officials to step up their efforts to manage the state’s growth by getting better control on development and by protecting the “best farmland on the planet. … This doesn’t mean we need more laws

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