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Canadian Pacific

STB Approves CP’s DM&E Purchase

WASHINGTON — The Surface Transportation Board approved Canadian Pacific Railway Limited’s plan to buy the Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries: Iowa, Chicago & Eastern Railroad and Cedar American Rail Holdings. The official effective date of the final decision is Oct. 30. “The DM&E is an excellent fit for Canadian Pacific making this a strategic end-to-end addition to our network,” said Fred Green, President and Chief Executive Officer of CP. “This is also a positive development for CP, DM&E and IC&E customers. CP customers will have direct single line access to the Midwest US markets and the

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BNSF

House Approves Rail Safety Bill; Billions to go to Passenger Rail

WASHINGTON — The House of Representatives has approved legislation that proponents say will improve the Nation’s intercity passenger rail system and the safety of the nation’s railroads. The Rail Safety Improvement Act of 2008 and the Passenger Rail Investment and Improvement Act of 2008 will increase funding for Amtrak over the next five years, require new safety controls on trains that help reduce crashes, allow states to regulate solid waste processing facilities along rail lines and allocate funding for improvements to Washington’s Metro transit system. The legislation sets “an aggressive deadline” of 2015 for implementation of positive train control (PTC)

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BNSF

Hurricane Ike Causes Rail Freight Downturn

WASHINGTON —  Freight traffic on U.S. railroads was off sharply during the week ended September 20 in comparison with the same week last year, the Association of American Railroads (AAR) reported. Much of the decline can be attributed to disruptions caused by Hurricane Ike which struck the Gulf Coast Sept. 13. Total volume was estimated at 32.8 billion ton-miles, down 6.8 percent from the comparable week last year. Carload freight in the week totaled 312,662 cars, off 7.8 percent from last year. Volume was down 10.4 percent in the West and 4.3 percent in the East. Intermodal volume, which is

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Canadian Pacific

Canadian Pacific Announces Second-Quarter Results

CALGARY — Canadian Pacific Railway Limited announced its second-quarter results today, and net income in the second quarter was $155 million, a decrease of 40 percent from $257 million in 2007, and diluted earnings per share was $1.00, a decrease from $1.64 in the second quarter of 2007. Highlights include: Total revenues were essentially flat at $1.22 billion Income before foreign exchange gains and losses on long-term debt and other specified items decreased to $150 million from $175 million Adjusted diluted earnings per share decreased to $0.97 from $1.12 Operating ratio was 79.4 per cent compared with 74.7 per cent

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Canadian Pacific

CP, CN Implement New Rail Terminal Efficiencies at Deltaport

VANCOUVER — CN and Canadian Pacific (CP) announced an agreement allowing the Deltaport Division of a jointly owned rail subsidiary to manage rail switching operations for CN’s and CP’s intermodal trains at Deltaport, a marine container terminal located at Roberts Bank, south of Vancouver’s inner harbor. “Deltaport Division will streamline the logistics chain at the terminal, generating greater efficiencies in the overall rail and port operation,” said Keith Creel, CN executive vice-president, operations. “These service and productivity gains support Canada’s Asia-Pacific Gateway Initiative, which aims to bolster the competitiveness of the nation’s west coast ports.” CN and CP move approximately

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Canadian National

2007: A Strong Year For Railroad Safety

WASHINGTON — Last year was another strong year for safety on the nation’s railroads, with records being set in two key safety measurements while a third fell just shy of setting a record. “Over the years, the railroad industry has developed a strong safety culture,” said Edward R. Hamberger, president and CEO of the Association of American Railroads (AAR) at the annual E.H. Harriman Awards luncheon which honors railroads with the best employee safety records for the previous year. “Last year the train accident rate was the lowest in history,” he said. “So was the grade crossing accident rate. The

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Amtrak

Southwest Chief, Empire Builder and California Zephyr Midwest Flooding Disruption Update

Amtrak has been notified by BNSF and Canadian Pacific (CP) railways of efforts to restore passenger train service on three routes disrupted due to flooding on the Mississippi River and its tributaries in Iowa and Wisconsin. BNSF and CP host these trains on tracks they own, maintain and dispatch.While still hoping to restore rail service soon, Amtrak is planning to operate limited alternate transportation through the affected areas for each of these trains until further notice. Through June 24, passengers are urged to call Amtrak at 800-USA-RAIL if they have travel plans through the affected areas on routes of the

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Amtrak

Rail Network Could Face Major Congestion in Coming Decades

WASHINGTON — Congestion on the nation’s rail network is expected to increase over the next two decades and could eventually pose a major problem, members of Congress warned. Since deregulation of the freight railroad industry in 1980, Class 1 freight ton-miles have increased 93 percent, while miles of track have decreased 40 percent, U.S. Rep. Corrine Brown, D-Fla., said. The U.S. Department of Transportation estimates that the demand for rail freight transportation will increase 88 percent by 2035, and their studies estimate that an investment of $148 billion in infrastructure expansion will be needed over the ext 28 years to

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Canadian Pacific

Royal Canadian Pacific named ‘Tour of a Lifetime’

CALGARY — Canadian Pacific’s luxury rail service, the Royal Canadian Rockies Experience has been named a “Tour of a Lifetime,” by National Geographic Traveler. “The Royal Canadian Pacific is the most spectacular way to see the Canadian Rockies,” said CP Vice-President, Strategy and External Affairs, Jane O’Hagan. “It’s wonderful to be acknowledged for our consistent effort to deliver the most spectacular experiences.” The Royal Canadian Rockies Experience is a five night/six day luxury rail excursion operated by Royal Canadian Pacific. Nominated in the “Classic Tours” category, the Royal Canadian Rockies Experience was chosen for it’s ability to restore and reinvent

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Canadian Pacific

Canadian Pacific Railway Limited Declares Dividend

CALGARY — The Board of Directors of Canadian Pacific Railway have declared a quarterly dividend of twenty four and three quarter cents ($0.2475) Canadian per share on the outstanding Common Shares. The dividend is payable on July 28 to holders of record at the close of business on June 27 and is an eligible dividend pursuant to the Income Tax Act. — PRNewswire-FirstCall