Month: September 2012

WASHINGTON – The federal government has awarded more than $74.8 million to the Commonwealth of Virginia to continue development of the Southeast High-Speed Rail Corridor. The funding will help improve passenger and freight rail service between Virginia and Washington, D.C. and reduce delays on the Virginia Rail Express (VRE) commuter service, according to the feds. “The Southeast High-Speed Rail Corridor between Charlotte and Washington D.C. serves one of the fastest growing regions in the country, which is why it is critical to eliminate congestion points so that intercity passenger, freight and commuter rail can all run smoothly without delays,” U.S.

JACKSONVILLE, Fla. — CSX Corp. was named to the Dow Jones Sustainability Index (DJSI) for North America for the second consecutive year and was the only U.S. railroad listed in 2012. “Sustainable practices improve today’s operations and position CSX for a strong future,” said Michael J. Ward, chairman, president and chief executive officer. “CSX remains committed to transparency and accountability and will continue to implement new sustainability strategies as our business grows.” CSX received high marks for its work in climate change strategies and environmental management, as well as in corporate governance and human capital development. CSX recently committed to

NORFOLK, Va. — Norfolk Southern Corp. said third quarter 2012 earnings are expected to be in the range of $1.18 to $1.25 per diluted share, primarily due to volume declines in certain markets and lower revenues from fuel surcharges. Decreased coal and merchandise shipments, offset in part by growth in intermodal volumes, are together expected to reduce revenues by approximately $120 million compared with third quarter 2011. Fuel surcharge revenues are anticipated to be approximately $80 million below the same period last year, the company said. Third quarter 2011 fuel surcharge revenues included a favorable lag-effect of $52 million, whereas