Rutter Steps Down From FRA Post

April 30, 2004 News Wire 0

WASHINGTON — Allan Rutter, Administrator of the Federal Railroad Administration, says he is leaving his current post in mid-June for a position with a Texas transportation organization. “It was a difficult decision, but ultimately it is what is best for my family,” Rutter said in a statement. “The opportunity to serve President Bush as FRA Administrator has been truly an honor and a privilege and one of the great experiences of my life.” In his new post, Rutter will serve as Deputy Executive Director of the North Texas Tollway Authority. A native of Texas, Rutter looks forward to moving his

‘You’re Hired’: Railroads Expect to Hire 80,000 Workers Over Next Six Years

April 30, 2004 News Wire 0

WASHINGTON – As the nation is coming out of its job slump, freight railroads are expected to hire more than 80,000 new workers over the next six years, the American Association of Railroads predicts. "The railroad provides good career opportunities," said 37-year-old Donavan "Chris" White, an assistant general foreman for mechanical operations at CSX Transportation. "I’ve been with the railroad over five years. I came up through the ranks and then went to management, where I moved up quite fast. There’s the potential to rise through the ranks as far as you want to go." Thousands of employees have already

Alameda Corridor Project Loan Paid Off Early

April 30, 2004 News Wire 0

LOS ANGELES – U.S. Transportation Secretary Norman Y. Mineta on April 29 accepted $573 million as payment with interest for a $400 million federal loan that helped launch the Alameda Corridor transportation project but wasn’t due until 2032. The loan is being repaid 28 years ahead of schedule with low-interest bonds, saving the Alameda Corridor Transportation Authority about $65 million. Studies estimate that more than 2 million jobs nationwide are associated with international trade moving through the ports of Los Angeles and Long Beach. Building the corridor created 10,000 construction jobs in the Los Angeles area. "In 1997, we invested

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

April 23, 2004 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 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 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 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,

Transit Leader Testifies on Importance of Security

April 14, 2004 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

Metra Launches Aggressive Safety Campaign

April 14, 2004 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

CPA: UP Should Disclose Political Contributions

April 12, 2004 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

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