Railfanning.org News Wire – Page 219

Norfolk Southern Facilitates $2.5 Billion in Industrial Investment Along Rail Lines in 2010

February 2, 2011 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corp. participated in the location of 67 new industries and the expansion of 28 existing industries along its rail lines in 2010, the railroad said. New plants and expansions represented an investment of $2.5 billion by Norfolk Southern customers and are expected to create 2,000 jobs in the railroad’s territory, eventually generating more than 132,000 carloads of new rail traffic annually. Norfolk Southern assisted state and local government and economic development officials throughout 16 states in helping customers identify ideal locations for new and expanded facilities. “The energy sector again anchored our results during 2010,” said Newell

Norfolk Southern Foundation Awards Nearly $5.6 million to Charitable Organizations in 2010

February 1, 2011 Railfanning.org News Wire

NORFOLK, Va. — The Norfolk Southern Foundation, the charitable giving affiliate of Norfolk Southern Corp., announced that it awarded nearly $5.6 million in grants during 2010 to nonprofit, charitable organizations. The Foundation supports programs that benefit nonprofit organizations in four principal areas: educational programs; community enrichment, focusing on cultural and artistic organizations; environmental programs; and health and human services. The grants included $1.4 million in employee matching gifts in support of 510 organizations. Grants other than matching gifts went to 310 organizations in Norfolk Southern’s operating territory. The Foundation contributed to 79 United Way campaigns plus other health and human

STB Plans Colo. Public Hearing

January 31, 2011 Railfanning.org News Wire

The Surface Transportation Board announced a public hearing to be held in Conejos, Colo., on a proposal by the San Luis and & Rio Grande Railroad to transfer onto railcars containers of contaminated dirt and debris from trucks originating at Los Alamos National Laboratory in New Mexico. The Board has instituted a declaratory order proceeding to determine whether the Board’s jurisdiction preempts the land-use code of Conejos County, Colo., where the transloading would take place. The public hearing is scheduled for Thursday, Feb. 17, 2011 at 10 a.m. at Our Lady of Guadalupe Parish Hall, 6631 County Road 13, Conejos, Colo.

Critical for Northeast Corridor to Remain a Public Asset, Says Amtrak President Joe Boardman

January 28, 2011 Railfanning.org News Wire

NEW YORK – Amtrak president Joe Boardman participated in a roundtable discussion regarding high-speed rail in the Northeast Corridor hosted by House Transportation and Infrastructure Committee Chairman U.S. Representative John Mica. Mr. Boardman made the following statement: “It is critical for the Northeast Corridor to remain a public asset for the generations of Americans that are depending on our collective leadership to secure their future. It is about connecting the major metropolitan communities of the Northeast, and also connecting the Northeast to the rest of the United States. “As a result of Amtrak’s stewardship and improvement of the Northeast Corridor infrastructure, train speeds have increased from

CSX and Environmental Defense Fund Work to Improve Energy Efficiency

January 27, 2011 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. said its continued participation in Environmental Defense Fund’s (EDF) Climate Corps for 2011. EDF Climate Corps places top MBA students in companies to develop practical, actionable energy efficiency plans that cut costs and greenhouse gas emissions. As a result of its participation in the program last year, CSX and the company’s fellow identified savings of more than $160,000, 1.5 million kWh of electricity (enough to power 140 homes), and 940 metric tons of CO2 (equivalent to removing 150 SUVs from the road) annually. “CSX’s commitment to the environment has enabled the company to drive great results

Hersman: Investigations Highlight Need for New Perspective on Safety Culture

January 26, 2011 Railfanning.org News Wire

WASHINGTON — National Transportation Safety Board Chairman Deborah A. P. Hersman said accident investigations highlight the need for a new perspective on safety culture, record-keeping and aging infrastructure. In a speech to the audience at the Transportation Research Board (TRB) conference, Hersman discussed four investigations across all modes of transportation. She highlighted several accidents that claimed the lives of dozens and encouraged attendees to embrace lessons learned to prevent future accidents. “If you’re going to build a transportation project that’s going to stand for decades, the foundation of future operating decisions may well be based on the original documentation. Make sure your records stand the test of time,” Hersman said. Hersman

CP: Fourth Quarter Revenue Increased 13 Percent

January 26, 2011 Railfanning.org News Wire

CALGARY — Canadian Pacific Railway announced its fourth-quarter and full-year 2010 results, and revenue in the fourth-quarter increased 13 percent with gains across all lines of business. Reported net income in the fourth-quarter was $186 million, an increase of 27 per cent and diluted earnings per share was $1.09 for the quarter and $3.85 for the full year. Adjusted diluted earnings per share was $1.12 for the quarter and $3.87 for the full year. “Fourth quarter saw double digit revenue growth, a continuation of our year-to-date trend,” said Fred Green, President and Chief Executive Officer. “We delivered an improvement in

CSX to Invest $2 Billion to Strengthen Its Rail Network

January 25, 2011 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. will invest $2 billion to increase the quality, flexibility and capacity of its rail network, the company announced as part of its quarterly and full-year earnings report. That’s on top of the $1.8 billion the company invested in 2010, a year in which operating income was $3.1 billion. “CSX believes in the ability of the U.S. economy to continue growing and is committed to supporting its customers as that occurs,” saidMichael J. Ward, CSX chairman, president and chief executive officer. “This is an important time for CSX and other companies to take stock in what we need to do

Norfolk Southern Reports 2010 Fourth-Quarter and Full-Year Results

January 25, 2011 Railfanning.org News Wire

Norfolk Southern Corp. reported fourth-quarter 2010 net income of $402 million, or $1.09 per diluted share, 31 percent higher compared with $307 million, or $0.82 per diluted share, for the same quarter of 2009. Fourth-quarter 2010 results benefited from a $34 million, or $0.09 per diluted share, change in estimate affecting deferred income taxes. Net income for 2010 was $1.5 billion, or $4.00 per diluted share, an increase of 45 percent, compared with $1.0 billion, or $2.76 per diluted share, in 2009. “During 2010 we profitably grew the business, invested in the franchise, generated significant levels of cash, and produced attractive returns for our shareholders,” said CEO Wick Moorman. “We

Norfolk Southern Increases Dividend

January 25, 2011 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corp. said its Board of Directors today voted to increase the regular quarterly dividend on the company’s common stock by 11 percent, or 4 cents per share, from 36 to 40 cents per share. The increased dividend is payable on March 10 to stockholders of record on Feb. 4.