Articles by Railfanning.org News Wire

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Commuter Rail

N.J. Transit Approves Lower Fare Increases

April 21, 2005 Railfanning.org News Wire
NEWARK, N.J. – The N.J. Transit Board of Directors on April 21 approved an FY 2006 fare plan that delivers lower than expected fare increases for many commuters, as a result of $12.6 million in additional internal management efficiencies and revenue enhancements. Under the plan, which will take effect July 1, commuter rail and interstate bus fares will increase an average of 9.9 percent – down 25 percent from the original proposal. This level of increase is consistent with inflation, which already totals 9 percent since April 2002 – the last last fare increase – and is widely expected to
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NTSB

NTSB Approves Safety Recommendations

February 3, 2005 Railfanning.org News Wire
The National Transportation Safety Board on Feb. 3 approved the following: The National Transportation Safety Board therefore makes the following safety recommendations to the Federal Railroad Administration: Require in 49 Code of Federal Regulations Part 213, Track Safety Standards, that rail cracks originating from bond wire attachments be identified as rail defects and that information be collected on the methods and locations of those attachments. (R-05-01) Require in 49 Code of Federal Regulations Part 225, Guide for Preparing Accident/Incident Reports, that derailments caused by rail cracks originating from bond wire attachments be reported with a specific cause code and that
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Norfolk Southern

Motiva Enterprises and Norfolk Southern Build Largest Rail-Served Ethanol Terminal in New York Harbor

February 2, 2005 Railfanning.org News Wire
NORFOLK, Va. — Motiva Enterprises LLC and Norfolk Southern Corporation on Feb. 2 announced the opening of a new high-capacity ethanol terminal located at Motiva’s petroleum distribution terminal in Sewaren, N.J. It is the largest rail-served ethanol terminal in the New York Harbor area. The terminal is strategically located to serve the New York and Connecticut markets for ethanol. The facility, which replaces Motiva’s 23-car-per-day terminal, is capable of unloading 40 railcars per day. The expansion more than doubled the terminal’s capacity from 1 million gallons per day to more than 2 million. Ethanol is increasingly being used as a
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Union Pacific

Davidson: ‘High fuel prices and increased operating costs continued to impact earnings’

February 1, 2005 Railfanning.org News Wire
Union Pacific Corporation on Jan. 24 reported 2004 fourth quarter income from continuing operations of $79 million, or $0.30 per diluted share compared to $333 million, or $1.28 per diluted share in the fourth quarter of 2003. Included in the 2004 results is the impact of the $154 million after-tax, or $0.58 per diluted share, non-cash charge for unasserted asbestos claims that the company announced in December.

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Norfolk Southern

Norfolk Southern Reports Record Income For Fourth Quarter and 2004

February 1, 2005 Railfanning.org News Wire
Norfolk Southern Corporation has reported record fourth-quarter net income of $264 million or $0.65 per diluted share, compared with $52 million or $0.13 per diluted share for fourth-quarter 2003. Fourth-quarter 2003 was affected by costs related to a voluntary separation program and an asset impairment charge that together reduced the quarter’s net income by $119 million or $0.30 per share. Excluding the effects of those items, fourth-quarter 2003 net income would have been $171 million or $0.43 per diluted share.