Railfanning.org News Wire

CSX Announces Preliminary Fourth Quarter Results

January 12, 2009 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. announced preliminary fourth quarter earnings per share of 63 cents. These results include a noncash impairment charge of approximately 27 cents per share related to the write-down of its investment in The Greenbrier resort in White Sulphur Springs, West Virginia. Excluding this charge and insurance gains of 1 cent in the prior year quarter, comparable earnings per share would be approximately 90 cents, which represents a 6 percent increase over the prior year quarter. Overall revenues are expected to be approximately $2.7 billion for the quarter, up 4 percent from the prior year period. This

Service Alert: Partial Restoration of Amtrak Service in Pacific Northwest

January 9, 2009 Railfanning.org News Wire

Amtrak will resume partial train service throughout the Pacific Northwest on Jan. 10. Service had been disrupted on several routes due to extreme weather conditions in the region. Full restoration of service for all routes is expected on Jan. 11. Amtrak Cascades There will be no train service the morning or January 10 between Seattle and Portland. Limited train operations will resume in the afternoon. Train service between Seattle and Bellingham or Vancouver, B.C. will remain suspended in the morning, with alternative motorcoach transportation provided. Normal train operations will resume in the afternoon. Train service between Portland and Eugene, Ore.

CSX Announces Approval of Lawsuit Settlement

January 9, 2009 Railfanning.org News Wire

JACKSONVILLE, Fla./ — CSX Corp. announced that a federal court in New York has issued an order preliminarily approving a settlement reached by all parties to a civil action brought by plaintiff, Deborah Donoghue, a shareholder of CSX, to recover so-called “short-swing” profits under Section 16(b) of the Securities Exchange Act of 1934 alleged to have been realized by defendants The Children’s Investment Fund and 3G Capital Partners LP in connection with their purchases and sales of CSX securities. CSX is party to the suit in name only, which was brought for the benefit of CSX, the railroad said in

Mica: U.S. Takes Next Step Toward High-Speed Passenger Rail

January 2, 2009 Railfanning.org News Wire

WASHINGTON — The U.S. Department of Transportation has taken the next step in bringing true high-speed passenger rail to the United States, for the first time requesting private sector participation in the design, finance, construction, operation and maintenance of high-speed service, Rep. John L. Mica, R-Fla., said. “This is the most exciting development in U.S. passenger rail in years,” Mica said. “High-speed rail is an efficient, effective and environmentally friendly method of transportation, and a much-needed alternative to our congested highways and airspace.” Last month, the U.S. Department of Transportation will begin accepting expressions of interest to finance, design, build,

Six Restored Red Streetcars Roll

January 2, 2009 Railfanning.org News Wire

NEW ORLEANS — Six of the 24 candy-apple red Canal Street streetcars that fell victim to the floodwaters of Hurricane Katrina’s levee breaks are rolling down Canal Street, on North Carrollton Avenue to picturesque City Park, and along the majestic Mississippi Riverfront. On Dec. 12, the Regional Transit Authority held a re-dedication ceremony of the red streetcars Friday morning and when the ceremony concluded, the streetcars were put into revenue service. Mary E. Peters, Secretary, United States Department of Transportation, was among those enjoying the first ceremonial ride on the red streetcars. “In the case of New Orleans’ streetcars, seeing

Metro Tests Additional Eight-car Trains on the Blue, Orange and Red Lines Next Week

January 2, 2009 Railfanning.org News Wire

WASHINGTON — Washington’s Metro will test additional eight-car trains on the Blue, Orange and Red Lines and will stop all trains at the end of each station platform as a test of its ongoing power, system, track and rail car enhancements leading up to Inauguration Weekend. On Jan. 5 and Jan. 6, Metro will operate additional eight-car trains during morning and afternoon peak periods on the Blue and Orange lines. During the off-peak periods, all trains on the Blue and Orange lines will operate with eight-cars. On Jan. 7 and Jan. 8, Metro will repeat the same process on the

Obama Selects LaHood as Transportation Secretary

January 1, 2009 Railfanning.org News Wire

WASHINGTON — President-elect Barack Obama has selected Rep. Ray LaHood, R-Ill., to serve as the next transportation secretary. “Congressman LaHood’s broad experience and well-known pragmatism make him an excellent choice to lead and support America’s transportation future,” U.S. Secretary of Transportation Mary E. Peters said. “There will be challenges, but there are also incredible opportunities to continue work to improve transportation safety, tackle congestion and promote mobility, expand global transportation opportunities, rebuild transportation systems after disasters, and continue fundamental transportation reform. I’m confident our nation’s transportation network will be in good hands under the leadership of Congressman LaHood.” “The nation

AAR: Rail Freight Traffic Down During Holiday Week

December 31, 2008 Railfanning.org News Wire

WASHINGTON — Freight traffic on U.S. railroads was down during the holiday week ended December 27 in comparison with the corresponding holiday week last year the Association of American Railroads (AAR) reported today. Total volume was estimated at 21.4 billion ton-miles, down 20.1 percent from the same week last year. Intermodal volume totaled 124,061 trailers or containers, down 21.8 percent from last year, with container volume down 21.5 percent and trailer volume down 23.2 percent. Carload freight, which doesn’t include the intermodal data, totaled 200,365 cars for the week, down 21.7 percent from last year. Loadings were down 26.5 percent

BNSF Postpones Fuel Surcharge Changes

December 31, 2008 Railfanning.org News Wire

FORT WORTH, Texas — Due to current volatility in the fuel markets, BNSF is postponing the fuel surcharge changes that had been scheduled to take effect in January and February 2009. These changes would have extended the mileage-based fuel surcharge program and increased the strike price on carload shipments from $1.25 to $2.50 per gallon of Highway Diesel Fuel (HDF). The railroad said it would continue to monitor the state of the fuel markets as the year progresses and provide an update by July 1.

CN: Disappointed in Appeal Court Ruling Sanctioning CTA Grain Rate Reduction

December 31, 2008 Railfanning.org News Wire

MONTREAL — CN in November expressed disappointment in a Federal Court of Appeal of Canada ruling that lets stand a Canadian Transportation Agency (CTA) decision issued earlier this year to reduce rail revenue entitlement for grain transportation retroactively under the Canada Transportation Act. The CTA in February 2008 cut grain rates by eight per cent under railway revenue caps retroactive to Aug. 1, 2007, to reflect its determination of actual railway maintenance expenditures for government-owned grain hopper cars. CN appealed the CTA decision, saying it was flawed and that its retroactive application was illegal. CN estimates the CTA decision will