Railfanning.org News Wire – Page 220

CN Reports Q4 2010 Income

January 25, 2011 Railfanning.org News Wire

MONTREAL — CN reported its financial and operating results for the fourth quarter and year ended Dec. 31, 2010. Fourth-quarter and full-year 2010 highlights — Net income for the final quarter of 2010 was C$503 million, or C$1.08 per diluted share, versus fourth-quarter 2009 net income of C$582 million or C$1.23 per diluted share. — Q4-2010 net income increased by 19 per cent over comparable adjusted 2009 net income of C$424 million, with Q4-2010 diluted earnings per share (EPS) up 20 per cent over adjusted diluted EPS of C$0.90 for the final quarter of 2009. — Operating income for the fourth quarter of 2010 increased

CN Announces New Share Repurchase Program

January 25, 2011 Railfanning.org News Wire

MONTREAL — CN announced that its Board of Directors has authorized a normal-course-issuer bid to purchase, for cancellation, up to 16.5 million, or 3.6 per cent, of the common shares issued and outstanding of the Company on Jan. 17, 2011. Approximately 459.6 million CN common shares were issued and outstanding on that date. The price to be paid by CN for any common shares will be the market price at the time of acquisition, plus brokerage fees, or such other price as the Toronto Stock Exchange (TSX) may permit. CN recently completed a share repurchase program announced in January 2010, under which

Union Pacific Reports Record Fourth Quarter and Full Year

January 25, 2011 Railfanning.org News Wire

OMAHA, Neb. — Union Pacific Corporation reported 2010 fourth quarter net income of $775 million, or $1.56 per diluted share, compared to $549 million, or $1.08 per diluted share, in the fourth quarter 2009. “Our strong fourth quarter results are indicative of the great performance we’ve achieved throughout 2010, setting numerous records as we report the most profitable year in Union Pacific’s nearly 150-year history, ” said Jim Young, Union Pacific chairman and chief executive officer. “As business volumes increased during the year, we kept our customer commitments by ensuring consistent, safe and reliable service. Shareholders also were rewarded as

CSX Announces Record Fourth Quarter and Full-Year 2010 Results

January 24, 2011 Railfanning.org News Wire

CSX Corporation announced fourth quarter earnings of $430 million, or $1.14 per share, versus $303 million, or $0.77per share, in the same period last year. This represents a 48 percent year-over-year improvement in earnings per share and a record fourth quarter for the company. Fourth quarter revenue grew to $2.8 billion, a 21 percent increase from the prior year, on a 13 percent increase in volume. The fourth quarter of 2010 included an extra week resulting from the company’s 52/53 week fiscal reporting calendar. Excluding the extra week, revenue increased 14 percent and volume increased seven percent on a comparable basis. Continued revenue growth, along

CN, Squamish Terminals, Tembec, Canfor Pulp, West Fraser and Daishowa-Marubeni sign Service Level Agreement

January 24, 2011 Railfanning.org News Wire

VANCOUVER — CN, Squamish Terminals Ltd., Tembec Inc., Canfor Pulp Limited Partnership (CPLP), West Fraser Timber Co. Ltd. (WFT) and Daishowa Marubeni International Ltd. have reached an agreement in principle on measures that will result in improvements in supply chain efficiencies for the export of wood pulp from B.C. pulp mills to markets worldwide. Squamish Terminals is located on Howe Sound, just 32 nautical miles north of Vancouver, and is open to all major break-bulk shipping lines. Squamish Terminals is a wholly owned subsidiary of Grieg Star Shipping AS. Under the agreement, CN will provide seven-day-a-week service to Squamish Terminals,

CN: Tentative Settlement with Canadian Auto Workers

January 24, 2011 Railfanning.org News Wire

MONTREAL — CN said it has reached a tentative contract agreements with the Canadian Auto Workers (CAW) union. With settlements, the CAW has dropped plans to strike the railway at 0001 hours Eastern time Jan. 25, 2011. The agreements would, upon ratification, provide fair wage and benefit increases to CAW members. In addition, the settlements contain progressive provisions that would help CN retain and attract skilled employees critical to its workforce in the years ahead. Full details of the tentative agreements are being withheld pending ratification, which the CAW expects to complete before the end of February, 2011. The CAW

CN: Canadian Auto Workers Union Gives Strike Notice

January 22, 2011 Railfanning.org News Wire

MONTREAL — CN said the Canadian Auto Workers (CAW) union today gave the Company notice of its intention to strike the railway at 0001 hours Eastern time Jan. 25, 2011. CN believes there is sufficient time for the parties to reach an agreement before the strike deadline. CN has established a contingency service plan to operate the railway safely and as efficiently as possible in the event of a strike, with trained and qualified management personnel performing the tasks of CAW members. The CAW represents approximately 3,975 workers in four distinct bargaining units at CN and CNTL (a subsidiary of

Amtrak Keystone Service to Add Quiet Car

January 19, 2011 Railfanning.org News Wire

WASHINGTON – In response to customer demand, Amtrak Keystone Service (Harrisburg – Philadelphia – New York) will add Quiet Car service starting Jan. 24, providing passengers with a peaceful, quiet atmosphere to work or rest without distraction. The coach car adjacent to the locomotive will typically be designated as the Quiet Car. Seating on the Quiet Car is available on a first-come, first-served basis, and cannot be reserved. There is no additional charge for a seat in a Quiet Car.

CP Plans to Invest $950M on 2011 Capital Projects

January 12, 2011 Railfanning.org News Wire

CALGARY — Canadian Pacific Railway unveiled plans to invest between $950 million and $1.05 billion for capital projects in 2011. “CP is focused on continuously improving service reliability, asset velocity, and productivity. With strong demand projected in many of our commodity based businesses, this capital plan will enable us to meet our customer’s needs and continue to lower our operating ratio to create a stronger franchise for the future,” said CP Chief Financial Officer, Kathryn McQuade. The 2011 Capital Plan will focus on: – Making strategic and targeted capacity investments to ensure that the efficiencies gained through our long train strategy, repair

STB Plans Hearing on Competition

January 11, 2011 Railfanning.org News Wire

The Surface Transportation Board announced today a public hearing on May 3 to explore the current state of competition in the railroad industry and possible policy initiatives to promote more rail-to-rail competition. “I said last year that it was time for the Board to revisit the current rail regulatory framework and that is what we are doing,” said Board Chairman Daniel R. Elliott III. “We need to strike a balance between providing access to competitive rail transportation for shippers while maintaining the rail industry’s impressive economic renaissance.” The hearing will begin at 9:30 a.m., in the Surface Transportation Board Hearing Room,