World
Year: 2009
Canadian Pacific
Canadian Pacific Announces Second-Quarter 2009 Results
CALGARY — Canadian Pacific Railway announced second-quarter net income of $157 million, an increase of two per cent from $155 million in 2008. The impact on net income from a decline in freight volumes was offset by a net gain after tax on the sale of a portion of CP’s interest in the Detroit River Tunnel Partnership of $69 million. Diluted earnings per share were $0.93, a decrease of seven per cent from $1.00 in second-quarter 2008. “The recession continues to have a significant impact on our business and although freight volumes appear to have stabilized, we have not yet
Commuter Rail
Washington Metro Conducting Comprehensive Review of Employee Disciplinary Actions
WASHINGTON — Washington Metro is conducting a comprehensive review of its disciplinary procedures for employees and plans to stiffen penalties in the coming weeks to ensure that employees follow Metro rules and standard operating procedures. “Metro has more than 10,000 employees, and the vast majority of them do their job well,” said Metro General Manager John Catoe. “Bad behavior on the part of just a few individuals reflects on the entire Metro workforce. Our new approach to procedures and penalties will deter bad behavior and reduce the damage a few people can cause to our relationship with riders.” On Monday,
Commuter Rail
NTSB Updates WMATA Investigation
The National Transportation Safety Board continues to make progress in its investigation of the June 22, 2009, collision of two Washington Metropolitan Area Transit Authority (WMATA) trains on the Red Line in Washington, D.C. The Board has developed the following factual information: — To date, significant work has been done to determine why the presence of train 214 was not identified on the train control circuit that allowed train 112 to crash into it. The NTSB’s accident investigation is continuing, and more work is needed to fully understand why the train control system did not perform as designed. — Most
Canadian Pacific
CP: Rates Established for Westbound Coal Through End of Q1 2010
CALGARY — Canadian Pacific Railway Limited announced the results of rate proceedings between CP and Teck Coal Ltd. (Teck) addressing rate levels for export traffic moving between Teck’s southern BC mines and Vancouver area ports. Contract terms are confidential and expire on April 7, 2010. As part of the rate process, Teck also secured a rate for routing some of the existing export coal traffic via an interchange with another railway at Kamloops, BC. Traffic moving over the Kamloops interchange will not exceed 3.5 million metric tons between now and March 1, 2010. For CP this represents approximately 15% of
Commuter Rail
Freight Railroads Join Midwest Governors in Planning for High-Speed Rail
WASHINGTON — Association of American Railroads President and CEO Edward R. Hamberger said the national rail network is critical to meeting the mobility needs of the 21 century. Speaking before the Midwest High-Speed Rail Summit in Chicago, Hamberger said striking the right balance between passenger and freight rail expansion is key to the success of high-speed rail in America. “America’s freight railroads support the goal of increased passenger rail investment,” Hamberger said. “It’s good for our economy and the environment when more people and goods move faster by rail.” He pointed out that the country’s privately owned freight rail network
Union Pacific
Union Pacific Invests More Than $8 Million for Track Improvements to Its Mill Grove-To-Polo, Mo., Line
OMAHA, Neb. — Motorists will spend less time at crossings waiting for trains to pass with trains operating more efficiently as a result of more than $8 million in track improvements made by Union Pacific Railroad to its Mill Grove-to-Polo, Mo., line, the railroad said. When the project is complete, crews will have removed and installed more than 62,500 ties, spread nearly 20,000 tons of rock ballast to ensure a stable roadbed and renewed the road surfaces at 71 crossings. Work will begin on the project today and is scheduled to be completed by the first of September. Union Pacific
NTSB
Hersman Takes Helm at NTSB
WASHINGTON — Deborah A.P. Hersman, who has been a Member of the National Transportation Safety Board for 5 years, was sworn in as the agency’s 12th Chairman. Hersman was nominated for the two-year term as Chairman by President Barack Obama on June 18 and confirmed by the United States Senate on July 24. She was also nominated and confirmed for a second five-year term as Board Member, which runs through December 31, 2013. “The NTSB is an outstanding organization that commands respect across the globe for its comprehensive investigations of transportation accidents,” Hersman said. “I am grateful to have this
BNSF
BNSF: ‘We Are Well Positioned to Benefit When the Economy Recovers’
FORT WORTH, Texas — Burlington Northern Santa Fe Corp. reported quarterly earnings of $1.18 per diluted share, compared to second-quarter 2008 earnings of $1.00 per diluted share, which included a $0.31 per share charge related to environmental matters in Montana. “BNSF had another strong quarter of cost control in an extremely difficult economic environment,” said Matthew K. Rose, BNSF Chairman, President and Chief Executive Officer. “We are beginning to see BNSF’s volumes stabilize in our more economic sensitive businesses, and because of our continued focus on productivity combined with our long-term market opportunities, we are well positioned to benefit when
Union Pacific
UP: ‘Volume Levels May Have Hit the Bottom as the Economy Seems to Have Stabilized’
OMAHA, Neb. — Union Pacific Corporation reported 2009 second quarter net income of $468 million, or $0.92 per diluted share, compared to $531 million, or $1.02 per diluted share for the second quarter 2008. Included in the second quarter 2009 net income is $72 million, or $0.14 per diluted share, related to a June land sale to Colorado’s Regional Transportation District. “Union Pacific produced solid second quarter results despite a business environment that continues to be extremely challenging,” said Jim Young, Union Pacific chairman and chief executive officer. “This performance demonstrates our unrelenting focus on safety, productivity and customer service,