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AAR: Rail Intermodal Volume Reaches Highest Level Since Fall 2008
WASHINGTON — The Association of American Railroads (AAR) reported that intermodal volume on U.S. freight railroads for the week ended May 15, 2010, reached its highest level since the 47th week of 2008. Carloadings last week also saw gains, with 18 of 19 commodity groups showing increases from the comparable week in 2009.
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FreightCar America Forgoes Dividend
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Genesee & Wyoming Reports Results for the First Quarter of 2010
GREENWICH, Conn. — Genesee & Wyoming Inc. reported net income in the first quarter of 2010 of $16.0 million, compared with net income of $13.9 million in the first quarter of 2009. GWI’s diluted earnings per share (EPS) in the first quarter of 2010 were $0.39 with 41.4 million weighted average shares outstanding, compared with diluted EPS of $0.38 with 36.4 million weighted average shares outstanding in the first quarter of 2009. “Our first quarter financial results were a good start to 2010,” said John C. Hellmann, president and CEO of GWI. “In late February, our traffic began to strengthen
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L.B. Foster and Portec Rail Products Announce Preliminary Injunction Enjoining Tender Offer
PITTSBURGH — L.B. Foster Co. and Portec Rail Products have announced that on April 21, the Court of Common Pleas of Allegheny County, Pa., issued a preliminary injunction enjoining the completion of L.B. Foster’s tender offer to acquire all of Portec’s issued and outstanding common stock. L.B. Foster and Portec are reviewing the Court’s opinion with their advisors to determine a future course of action. L.B. Foster Company is a leading manufacturer, fabricator, and distributor of products for the rail, construction and utility and energy markets with approximately 30 locations throughout the United States. Established in 1906, Portec has served
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The Travel Trolley Launches 2010 Travel Outlook Survey
ATLANTA – The Travel Trolley has launched a trends survey to gauge travel plans for 2010. “There has been a lot of discussion in the media about how the economy is affecting everything from shopping to financial investments to travel plans,” said Todd DeFeo, editor of The Travel Trolley. “Rather than speculate on what role the economy is playing in people’s plans, I decided to find out firsthand about the 2010 travel outlook.” The brief survey should take no longer than five minutes to complete and asks 10 questions ranging from the number of leisure trips planned for 2010 to