MONTREAL — CN has issued its third sustainability report, Delivering Responsibly. This report highlights CN’s strategy, programs and achievements in the areas of governance practices, safety initiatives, human resources management, community involvement and environmental sustainability.
CHICAGO — CN has reached an agreement with the City of Joliet, Ill. — the largest of the communities along the arc of the Elgin, Joliet and Eastern Railway Company (EJ&E) with which CN has a voluntary mitigation agreement (VMA) — to fund construction of a grade-crossing bypass that will improve vehicular traffic flows and enhance rail safety in the city’s Forest Park area.
CHICAGO — CN has reached a voluntary mitigation agreement (VMA) with the Village of Wayne, Ill., located approximately 33 miles northwest of downtown Chicago, regarding its acquisition of the Elgin, Jolietand Eastern Railway Company (EJ&E).
KANSAS CITY — Kansas City Southern (KCS) reported first quarter 2011 revenues of $489 million, a 12 percent increase compared to the corresponding 2010 period. Overall, carload volumes were 7 percent higher than in first quarter 2010.
CALGARY — Canadian Pacific Railway announced its first-quarter 2011 results, reporting net income in the first-quarter was $33.7 million and diluted earnings per share were $0.20.
OMAHA, Neb. — Union Pacific Corp. reported 2011 first quarter net income of $639 million, or $1.29 per diluted share, compared to $516 million, or $1.01 per diluted share, in the first quarter 2010. “We’ve started off strong in 2011 by achieving record results in the first quarter,” said Jim Young, Union Pacific chairman and chief executive officer. “We saw volume growth in all commodities and effectively leveraged that growth by running a safe and efficient network despite spiking fuel prices and winter weather challenges across most of the nation’s rail network. These efforts produced a best-ever first quarter operating
JACKSONVILLE, Fla. — CSX Corp. announced first quarter net earnings of $395 million, or $1.06 per share, versus $305 million, or $0.78 per share, in the same period last year. This represents a 36 percent year-over-year improvement in earnings per share.
The National Transportation Safety Board has sent a team of investigators to investigate a rear end collision between two Burlington Northern Santa Fe (BNSF) trains. The collision occurred at 7 a.m. on April 17 in McPherson, Iowa. Early information indicates that a BNSF freight train collided with a standing BNSF maintenance train. Two BNSF employees were killed. Two locomotives and multiple cars derailed as a result of the accident. Michael Flannigan is serving as the Investigator-in-Charge for the 7-member team from the NTSB.
U.S. Transportation Secretary Ray LaHood announced a $6.8 million grant to upgrade freight rail service in four central Pennsylvania counties supporting the Marcellus Shale natural gas deposits.