Month: February 2010

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Union Pacific

Union Pacific Reports Fourth Quarter Earnings

February 12, 2010 Railfanning.org News Wire

OMAHA, Neb. — Union Pacific Corp. reported 2009 fourth quarter net income of $551 million, or $1.08 per diluted share, compared to $661 million, or $1.31 per diluted share in the fourth quarter 2008. “Union Pacific’s fourth quarter earnings reflected the continued impact of the recession that began in 2008,” said Jim Young, Union Pacific chairman and chief executive officer. “In this difficult environment, we’ve continued to focus on running our business efficiently and improving customer service. As a result, we finished the year with new records in safety, service, customer satisfaction and efficiency.” Slightly stronger fourth quarter demand led

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Union Pacific

Union Pacific Railroad Named 2009 Intermodal Rail Carrier of the Year by C. H. Robinson

February 12, 2010 Railfanning.org News Wire

OMAHA, Neb. – Union Pacific Railroad has been named 2009 Intermodal Rail Carrier of the Year by C. H. Robinson, one of the world’s largest third-party logistics companies. The annual award is voted on by C.H. Robinson’s intermodal leadership team. Union Pacific’s selection was based on the railroad’s commitment to service and overall value to C. H. Robinson’s business. This is the first time Union Pacific has earned the award. “C.H. Robinson is proud to honor Union Pacific with our 2009 Intermodal Rail Carrier of the Year award,” said Steve Weiby, C.H. Robinson vice president. “Union Pacific was a progressive

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BNSF

Burlington Northern Santa Fe Reports Fourth Quarter/Full Year 2009 Results

February 12, 2010 Railfanning.org News Wire

FORT WORTH, Texas — Burlington Northern Santa Fe Corp. reported quarterly earnings of $1.55 per diluted share, which included a tax benefit of $0.25 per share related to the fourth-quarter donation of a portion of a line segment located in Washington State. This compared to fourth-quarter 2008 earnings of $1.78 per diluted share, which included a fuel surcharge lag benefit of about $200 million. “We have seen some improvement in volumes during the second half of 2009 and expect this gradual improvement to continue,” said Matthew K. Rose, BNSF Chairman, President and Chief Executive Officer. “BNSF will continue to position

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BNSF

Shareholders Approve Burlington Northern Santa Fe Transaction with Berkshire Hathaway

February 11, 2010 Railfanning.org News Wire

FORT WORTH, Texas — Burlington Northern Santa Fe Corp. shareholders voted overwhelmingly in favor of the company’s acquisition by Berkshire Hathaway Inc. In all, preliminary results show that approximately 70 percent of BNSF issued and outstanding shares not owned by Berkshire or its affiliates were voted in favor of the transaction, above the 66 2/3 percent required. Additionally, holders of at least a majority of the issued and outstanding shares of BNSF voted in favor. Both of these votes were required under Delaware law to adopt the merger agreement and were reported at a shareholder meeting held today at BNSF

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Norfolk Southern

Norfolk Southern Foundation Awards $5.7 Million in 2009

February 11, 2010 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Foundation, the charitable giving affiliate of Norfolk Southern Corp., awarded grants worth more than $5.7 million to nonprofit charitable organizations in 2009. The grants included $1.47 million in employee matching gifts in support of 535 organizations. Grants other than matching gifts went to 329 organizations in Norfolk Southern’s operating territory. The Foundation contributed to 75 United Way campaigns plus other health and human services nonprofits ($1,600,300), educational institutions ($1,100,587), cultural and arts groups ($1,145,478), and civic, community, and environmental organizations ($402,750). Among the largest recipients were the United Ways in Norfolk and Roanoke, Va., and

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Amtrak

Amtrak Enhances Security Measures in Pacific Northwest for Winter Games

February 9, 2010 Railfanning.org News Wire

SEATTLE – With two daily Amtrak Cascades trains operating to Vancouver, B.C., Amtrak is stepping up its overall security measures in the Pacific Northwest as part of its preparation for the 2010 Winter Games. “Amtrak is working closely with our partners to provide passengers a safe and secure journey during the Games,” said Amtrak Police Chief John O’Connor, noting increased passenger ridership and activities are expected. Amtrak Police is supporting local, state and federal counterterrorism efforts including participating in U.S. Transportation Security Administration (TSA) Visible Intermodal Prevention & Response (VIPR) teams that bring to bear specialized capabilities in monitoring for

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Amtrak

Major Upgrades Set for East and West Coast Amtrak Maintenance Facilities

February 9, 2010 Railfanning.org News Wire

WASHINGTON – Amtrak is awarding two contracts with a combined value of $49.5 million for major upgrades of its maintenance facilities located in Los Angeles, Calif., and in Hialeah, Fla., near Miami. The so-called American Recovery and Reinvestment Act economic stimulus program is funding both projects. “Amtrak is committed to making the investments needed to keep our equipment clean and in good working order for our passengers and state partners,” President and CEO Joe Boardman said. He also noted each upgraded facility will be modern, efficient and capable of handling the current work levels as well as projected future service

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Short Line/Regional

Genesee & Wyoming Reports Results for the Fourth Quarter of 2009

February 8, 2010 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. reported net income in the fourth quarter of 2009 of $18.3 million, compared with net income of $25.3 million in the fourth quarter of 2008. GWI’s diluted earnings per share (EPS) in the fourth quarter of 2009 were $0.44 with 41.3 million weighted average shares outstanding, compared with diluted EPS of $0.70 with 36.4 million weighted average shares outstanding in the fourth quarter of 2008. GWI’s results for the fourth quarter of 2009 included gains on the sale of assets of $0.8 million ($0.5 million after-tax, or $0.01 per diluted share). Fourth quarter

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Commuter Rail

NTSB Schedules Heading as Part of Fatal WMATA Wreck Investigation

February 4, 2010 Railfanning.org News Wire

WASHINGTON — The National Transportation Safety Board released additional information about the Board’s scheduled public hearing as part of its ongoing investigation into the cause of the collision of two Washington Metropolitan Area Transit Authority (WMATA) Metrorail Red Line trains. The collision occurred on June 22, 2009, between the Fort Totten and Takoma stations in Washington, D.C. As a result of this accident, there were nine fatalities and numerous injuries. The hearing, which will now extend to three days, will convene at 9 a.m. on Feb. 23 at the NTSB’s Board Room and Conference Center, 429 L’Enfant Plaza, S.W., Washington, D.C. The agenda for the hearing, which will focus not only