Railfanning.org News Wire

Balanced Traffic Mix Drives Success, Moorman Tells Stockholders at Annual Meeting

May 8, 2008 Railfanning.org News Wire

NORFOLK, Va. — A balanced mix of traffic has enabled Norfolk Southern to post solid financial and operating performance in spite of softness in the housing and automotive markets, said Chief Executive Officer Wick Moorman during the company’s 26th annual stockholders meeting, held in Norfolk, Va. “Our results speak volumes for something that we talk about all the time – the strength of our balanced portfolio of business,” Moorman said. “We’re really seeing two different economies out there in that a large component of our business is very healthy. Our agricultural business and anything having to do with commodities are

KCS Announces Tender Offer and Consent Solicitation

May 8, 2008 Railfanning.org News Wire

KANSAS CITY, Mo. — The Kansas Southern Railway Co. has commenced a cash tender offer for any and all of its $200 million aggregate principal amount of 9 1/2 percent Senior Notes due 2008 and a consent solicitation to amend the related Notes and indenture. The terms and conditions are set forth in the Offer to Purchase and Consent Solicitation Statement dated May 8. — PRNewswire-FirstCall

STB Makes Rail Revenue Adequacy Determination for 2006

May 6, 2008 Railfanning.org News Wire

WASHINGTON –Three Class I railroads, the BNSF Railway Co., the Norfolk Southern Railway Co., and the Soo Line Railroad Co. (a subsidiary of Canadian Pacific Railway Co., were revenue adequate for 2006. All other Class I freight railroads were found to be revenue inadequate for that year. The Surface Transportation Board made its determinations of revenue adequacy for the seven Class I freight railroads (the Nation’s largest) for 2006. A railroad is considered to be revenue adequate if it achieves a rate of return on net investment (ROI) equal to at least the current cost of capital (i.e., the cost

CSXT and Brewton First Responders to Hold Safety Blitz and Safety Class

May 6, 2008 Railfanning.org News Wire

BREWTON, Ala. — CSX Transportation will hold several railroad safety awareness activities on May 6 in conjunction with the Brewton Police Department, the Brewton Fire Department as well as Alabama Operation Lifesaver Volunteers. A safety blitz will take place at the CSXT railroad crossing at Mildred and Deer Streets from 9-11 a.m. Drivers in that area will be greeted by CSXT employees, Operation Lifesaver volunteers and area first responders, who will distribute safety flyers to drivers while they are stopped at the red lights on either side of the street approaching the crossing. In addition, CSXT will conduct a Railroad

Metrorail Extension to Tyson’s Corner, Dulles International Airport Moving Forward

May 5, 2008 Railfanning.org News Wire

WASHINGTON — The Metropolitan Washington Airports Authority (MWAA) has substantially improved its proposal to extend Metrorail, responding various concerns the Department of Transportation raised in January, the Federal Transit Administration (FTA) announced. “Consequently, we have sent the required 10-day notification to Congress that we intend to move the project into the Final Design stage of FTA’s New Starts Process,” Federal Transit Administrator James S. Simpson said in a statement. “FTA will commit $158.7 million to use toward completion of a financial plan, construction plans, detailed engineering specifications and cost estimates, and other technical requirements. “However, there are still hurdles facing

FRA Awards Two Grants to Washington State DOT

May 3, 2008 Railfanning.org News Wire

WASHINGTON — The Federal Railroad Administration has awarded two grants to the Washington State Department of Transportation to improve rail safety and upgrade infrastructure. A $1.5 million grant for the Tacoma Rail Mountain Division will be used to upgrade four bridges and repair rail, crossties, and equipment on several highway/rail grade crossings between Tacoma and Morton. These safety improvements will benefit freight as well as passenger excursion operations to Mt. Rainier National Park. In addition, $360,943 has been granted for the Olympia Infrastructure Enhancement Project to improve safety at the Market Street highway/rail grade crossing adjacent to the Port of

CSX Highlights Board’s Market-Leading Track-Record in Investor Presentation

May 2, 2008 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. announced that it has filed an investor presentation with the Securities and Exchange Commission in connection with the company’s 2008 annual meeting of shareholders, which is scheduled for Wednesday, June 25. “CSX’s Board of Directors has driven extraordinary shareholder returns, financial and operational performance, and excellence in corporate governance and offers a compelling future outlook,” said Michael J. Ward, CSX chairman, president and chief executive officer. “We look forward to meeting with CSX investors to discuss our track-record of success and concrete plans to continue to create value for all shareholders. We believe that the

CSX Announces National Gateway to Improve Flow of Freight

May 2, 2008 Railfanning.org News Wire

DUBLIN, Ohio — CSX Corp. has launched the National Gateway, a $700 million public-private infrastructure initiative to create a highly efficient freight transportation link between the Mid-Atlantic ports and the Midwest. When completed, the National Gateway would provide greater capacity for product shipments in and out of the Midwest, reduce truck traffic on already crowded highways, and create thousands of jobs that directly or indirectly support the National Gateway. CSX has already committed $300 million to the National Gateway, and will work with several states and the federal government to secure additional funding. The National Gateway incorporates two primary parts.

Reports: Olympic Construction Played Role in China Crash

April 30, 2008 Railfanning.org News Wire

ZIBO, China – Construction in advance of this summer’s Beijing Olympics is at least partly to blame for a train wreck that killed more than 70 people and injured hundreds more, Chinese officials say. According to Li Chenggang, Zibo city spokesman, the tracks where the trains crashed are being upgraded in advance of the Olympics. The upgraded line is supposed to reduce travel time between Jinan and Qingdao, a coastal city that is hosting the Olympic sailing competition. Officials previously said excessive speed could be to blame for the Monday (April 28) train crash. Investigators said train operators were advised

Speed May Be to Blame for China Rail Crash

April 29, 2008 Railfanning.org News Wire

ZIBO, China — Excessive speed could be to blame for a Monday (April 28) train crash that killed at least 70 people and sent hundreds more to the hospital. According to a Xinhua news report, an express train traveling to the east China city of Qingdao from Beijing was traveling 131 kph (81 mph) in an 80 kph (50 mph) zone. The train derailed and crashed into a second train, which was traveling from Yantai in the Shandong province to the Jiangsu province city of Xuzhou, authorities said. “So far, the accident site has been cleaned up and the stranded