Articles by Railfanning.org News Wire

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CSX

CSX Corporation Announces Offers to Exchange Outstanding Debt Securities for New Notes and Cash

February 22, 2010 Railfanning.org News Wire
JACKSONVILLE, Fla. — CSX Corp. announced the commencement of private offers to exchange certain of its outstanding debt securities for a new series of 6.220 percent notes due 2040 and cash. The Exchange Offers are being conducted upon the terms and subject to the conditions set forth in the offering memorandum dated February 22, 2010 and the related letter of transmittal. The Exchange Offers are only made, and copies of the offering documents will only be made available, to a holder of the Existing Notes who has certified its status as a “qualified institutional buyer” as defined in Rule 144A
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NTSB

NTSB Adds Improving Transit Railcar Design to ‘Most Wanted’ List

February 19, 2010 Railfanning.org News Wire
WASHINGTON — The National Transportation Safety Board issued its 2010 Federal Most Wanted List of Transportation Safety Improvements, adding rail, aviation and marine issues, and updating the status of other issues on the list. At the same time, the Board removed the issue areas dealing with improved protection for school bus passengers and fatigue in the pipeline industry. “Every one of the hundreds of currently open safety recommendations address concerns that the Safety Board has uncovered in its accident investigations,” NTSB Chairman Deborah A.P. Hersman said. “But the recommendations on the Most Wanted list represent those improvements that can have
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Canadian National

CN Employees Raise Money for Haiti Relief Efforts

February 19, 2010 Railfanning.org News Wire
MONTREAL — CN’s employee relief fund for Haiti has generated more than C$460,000 for the Red Cross to assist the agency’s continued relief efforts in Haiti, following the devastating earthquake on Jan. 10. Claude Mongeau, president and chief executive officer of CN, said: “The needs for recovery in Haiti are enormous, and the response of CN’s employees in the wake of this tragedy is inspiring. The success of CN’s employee relief fund for Haiti is a testament to the generosity of our railroaders across North America. The earthquake has taken much from so many Haitians, and we are pleased to be
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Norfolk Southern

Norfolk Southern’s Memphis Regional Intermodal Facility Is Awarded $52.5 Million Tiger Grant From U.S. Department of Transportation

February 19, 2010 Railfanning.org News Wire
NORFOLK, Va. — Norfolk Southern’s (NYSE: NSC) planned Memphis Regional Intermodal Facility was awarded $52.5 million from the U.S. Dept. of Transportation under the American Recovery and Reinvestment Act of 2009, Transportation Investment Generating Economic Recovery (TIGER) Program. In July 2009, Norfolk Southern announced that it intended to construct a new intermodal terminal in Rossville, Tenn., as part of the railroad’s multi-state $2.5 billion Crescent Corridor program of projects to establish a high-speed intermodal freight rail route linking the Gulf Coast and the Northeast. “Because of its strategic location and the growing intermodal demands in the Southeast, the Memphis Regional
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Norfolk Southern

Norfolk Southern’s Birmingham Regional Intermodal Facility is awarded $52.5 million TIGER grant from U.S. Department of Transportation

February 19, 2010 Railfanning.org News Wire
NORFOLK, Va. — Norfolk Southern’s planned Birmingham Regional Intermodal Facility was awarded $52.5 million from the U.S. Department of Transportation under the American Recovery and Reinvestment Act of 2009, Transportation Investment Generating Economic Recovery (TIGER) Program. In July 2009, Norfolk Southern announced that it intended to construct a new intermodal terminal in McCalla, Ala., adjacent to the Jefferson Metropolitan Park at McCalla, as part of the railroad’s multi-state $2.5 billion Crescent Corridor program of projects to establish a high-speed intermodal freight rail route linking the Gulf Coast and the Northeast. “Because of its strategic location and the growing intermodal demands in
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Norfolk Southern

Norfolk Southern’s Crescent Corridor is Awarded $105 Million TIGER Grant From U.S. Department of Transportation

February 19, 2010 Railfanning.org News Wire
NORFOLK, Va. — Norfolk Southern’s Crescent Corridor Intermodal Freight Program of Projects was awarded $105 million from the U.S. Department of Transportation under the American Recovery and Reinvestment Act of 2009, Transportation Investment Generating Economic Recovery (TIGER) Program. In September 2009, lead state Pennsylvania, joined by Alabama, Mississippi, Tennessee, and Virginia, submitted an application to USDOT for a $300 million TIGER grant to help improve Norfolk Southern’s rail lines and facilities between the Gulf Coast and the Northeast. Although the award represents a shortfall from the original TIGER request, it will enable NS and its partners to begin construction of
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Commuter Rail

NTSB to Hold Three-Day Hearing on Fatal 2009 Wreck

February 19, 2010 Railfanning.org News Wire
WASHINGTON — The National Transportation Safety Board has 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 three-day hearing will convene at 9:00 a.m. on Feb. 23 and is expected to conclude before the close of business on Feb. 25.
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Miscellaneous

American Railcar Industries Announces Formation of U.S. Railcar Joint Venture

February 19, 2010 Railfanning.org News Wire
ST. CHARLES, Mo. — American Railcar Industries and Ohio-based U.S. Railcar announced the formation of a joint venture to be named U.S. Railcar Co. The joint venture is being formed to design, manufacture and sell Diesel Multiple Units, which are self-propelled passenger railcars in both single- and bi-level configurations. ARI is majority owned by Icahn Enterprises. “ARI is excited to participate in this opportunity to join USR and bring ARI’s freight rolling stock manufacturing heritage to the passenger equipment sector,” said ARI President and CEO James Cowan. “Our commitment to expand and diversify ARI’s manufacturing program results from ARI’s desire
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Miscellaneous

FreightCar America Reports Fourth Quarter and Full Year 2009 Results

February 18, 2010 Railfanning.org News Wire
CHICAGO — FreightCar America Inc. reported results for its fourth quarter ended December 31, 2009 with sales of $49.4 million and a net loss of $5.5 million, or $0.47 per diluted share. Sales for the quarter were down 10 percent from third quarter 2009 sales of $55.1 million and down significantly over fourth quarter 2008 sales of $271.9 million. Railcar deliveries totaled 697 units in the quarter, compared to 695 units delivered in the third quarter of 2009 and 3,624 units delivered in the fourth quarter of 2008. The gross margin rate for the fourth quarter was 6.8 percent, compared to