Railfanning.org News Wire

CN Reports Q2-2010 Net Income

July 22, 2010 Railfanning.org News Wire

MONTREAL — CN reported its financial and operating results for the second quarter and first half ended June 30. Second-quarter 2010 highlights: — Net income and diluted earnings per share (EPS) increased by 38 percent from the year-earlier quarter to C$534 million and C$1.13 — Diluted EPS of C$1.13 increased by 49 per cent over adjusted diluted EPS of C$0.76 for the second quarter of 2009. — Revenues rose 18 per cent to C$2,093 million, while carloadings increased 27 per cent and revenue ton-miles rose 15 per cent. — Operating income increased 39 percent to C$813 million. — Operating ratio

National Gateway Participates in Major Public-Private Transportation Partnership Conference

July 22, 2010 Railfanning.org News Wire

WASHINGTON — The National Gateway has announced its participation in the American Road and Transportation Builders Association (ARTBA) Public-Private Partnerships in Transportation Conference, a leading industry event on private financing of transportation projects on July 22-23 in Washington. “Public-private partnerships offer tremendous value to businesses and taxpayers while also spurring job creation and economic growth,” said Louis Renjel, vice president of strategic infrastructure initiatives, CSX Transportation. “By working together, the public and private sector can speed delivery of transportation solutions like the National Gateway, which will improve shipping options, reduce fuel consumption, lighten the load on our nation’s highways and

Owens Corning Recognizes Union Pacific Railroad for Service Excellence

July 16, 2010 Railfanning.org News Wire

OMAHA, Neb. — Owens Corning recently named Union Pacific Railroad as a 2009 Global Logistics Carrier Excellence award recipient. Union Pacific, the only railroad to receive the award, was recognized for superior on-time performance while significantly contributing to the success of the entire Owens Corning enterprise in 2009. “It is quite an honor to receive this recognition from Owens Corning,” said Eric Butler, Union Pacific vice president – Industrial Products. “We constantly look for ways to add value for our customers by listening to their needs and providing the most efficient and effective transportation solutions.” Owens Corning annually recognizes carriers of

New Rule Strengthens Railroad Bridge Safety Programs, Oversight

July 16, 2010 Railfanning.org News Wire

WASHINGTON — Federal Railroad Administrator (FRA) Joseph Szabo has announced a Final Rule requiring railroad track owners to adopt and follow specific procedures to protect the safety of their bridges, and to strengthen federal oversight of railroad bridge maintenance programs. This rule is a requirement under the Rail Safety Improvement Act of 2008. “This Final Rule will help ensure the 100,000 railroad bridges in the United States are maintained and inspected to the standards accepted by sound engineering practices,” said Transportation Secretary Ray LaHood. “The structural integrity of bridges that carry railroad tracks is vitally important to the safety of

CSX Corporation Announces Extension of Exchange Offer

July 15, 2010 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. has announced an extension of the offer to exchange up to $660 million of its issued and outstanding 6.220 percent notes due 2040 for a like principal amount of its 6.220 percent notes due 2040, which have been registered under the Securities Act of 1933. CSX has extended the exchange offer related to the Notes so that it will now expire at 5:00 p.m. New York City time on July 15. Copies of the exchange offer documents can be obtained by contacting The Bank of New York Mellon Trust Company, N.A., the exchange agent for

CSX Corporation Declares Quarterly Dividend

July 14, 2010 Railfanning.org News Wire

JACKSONVILLE, Fla. — The Board of Directors of CSX Corp. has approved a $0.24 per share quarterly dividend on the company’s common stock. The dividend is payable on September 15, 2010, to shareholders of record at the close of business on Aug. 31.

U.S. Transportation Secretary LaHood Announces Initial $20.3 Million For North Carolina High-Speed Rail

July 13, 2010 Railfanning.org News Wire

WASHINGTON — In January, President Obama announced that North Carolina was awarded $545 million in American Recovery and Reinvestment Act (ARRA) funds to continue its development of high-speed intercity rail. Transportation Secretary Ray LaHood has announced that the U.S. Department of Transportation and the State of North Carolina have finalized a grant agreement for $20.3 million, the first installment of the $545 million awarded to the state. “President Obama’s bold vision for high-speed rail is a game changer for U.S. transportation,” LaHood said. “We’re improving North Carolina’s transportation infrastructure while putting people back to work. That’s a win for everyone.”

CSX Announces Second Quarter Earnings

July 12, 2010 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. announced second quarter earnings from continuing operations of $414 million, or $1.07 per share, versus $282 million, or $0.71 per share, in the same period last year. This represents a 51 percent year-over-year improvement in earnings per share from continuing operations. “While the economy remains dynamic, our markets overall continue to improve, and our outlook remains positive,” said Michael J. Ward, chairman, president and chief executive officer. “At the same time, CSX has demonstrated that it can be successful in a wide array of economic conditions, and that’s what we will continue to do.” Revenue

Amtrak Virginia Introduces Additional Service between Richmond and Washington

July 9, 2010 Railfanning.org News Wire

RICHMOND, Va. — Beginning July 20, Amtrak Virginia expands daily round-trip service between Richmond and Washington. With this new train, hourly morning departures are available from Richmond’s Staples Mill Station to the Northeast Corridor and more convenient afternoon return trips are available from Washington, DC. The total number of morning departures from Richmond to Washington is now five, with six return departures available in the afternoon and evening. The new frequency between Richmond and Washington is the second state-supported train in Virginia which became Amtrak’s 15th state partner with the launch of service between Lynchburg and the Northeast Corridor last

CSX Annual Coal Route Maintenance Work Complete

July 7, 2010 Railfanning.org News Wire

JACKSONVILLE, Fla. — Nearly 1,000 CSX Transportation Engineering employees completed the annual coal route maintenance project this week. Track maintenance teams worked their way across the Appalachian coal route which includes Kentucky, West Virginia, Tennessee, New York, North Carolina, and South Carolina. Demand for coal remains strong, and on a typical day as many as 50 trains make their way across this important corridor. During this intense maintenance operation, workers installed new rail, and more than 133,000 ties. Ties cover nearly 113 miles of main line track, plus several auxiliary tracks. Crews also re-surfaced an additional 150 miles of track,