Railfanning.org News Wire – Page 250

Norfolk Southern Declares Quarterly Dividend

October 27, 2009 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corp. announced the regular quarterly dividend of 34 cents per share on its common stock, payable on Dec. 10, to stockholders of record on Nov. 6. Since its inception in 1982, Norfolk Southern has paid dividends on its common stock for 109 consecutive quarters.

Union Pacific Railroad and Norfolk Southern Introduce Gulf Coast Flyer for Chemical Shipments between the Gulf Coast and Northeast, Southeast

October 26, 2009 Railfanning.org News Wire

OMAHA, Neb. — Union Pacific Railroad and Norfolk Southern introduced Gulf Coast Flyer, a rail service for the safe transport of chemicals between the Union Pacific-served southern Texas and Louisiana regions and Norfolk Southern destinations across the northeastern and southeastern United States. Gulf Coast Flyer is designed to build on improved routing and enhanced operations coordination between the two railroads, leaders in serving the chemical marketplace. This product promotes expedited service for customers between the Gulf Coast region and major markets across the Northeast and Southeast. Eastbound and westbound shipments between the two railroads connect at the Salem, Ill., and

Amtrak Reaches Understanding With Metrolink to Operate Los Angeles Area Commuter Trains

October 24, 2009 Railfanning.org News Wire

WASHINGTON – Amtrak and the Southern California Regional Rail Authority (SCRRA) are moving forward today with a Memorandum of Understanding for Amtrak to provide the train and engine crews needed to operate Metrolink commuter trains on all seven of its lines in the Los Angeles area beginning July 1, 2010. “Amtrak and its employees appreciate the confidence and trust Metrolink has placed in us to provide their passengers the highest standards of safety, efficiency and reliability,” said Amtrak President and CEO Joseph H. Boardman, adding the commuter rail system on average operates 149 trains and carries 43,000 riders every weekday.

CN, Teamsters Adjourn Negotiations, Plan to Resume Talks in Nov.

October 24, 2009 Railfanning.org News Wire

MONTREAL — CN and the Teamsters Canada Rail Conference agreed to adjourn negotiations and are scheduled to resume talks with the assistance of federal mediators during the week of Nov. 16. The company and union remain optimistic that they can negotiate a new collective agreement for 1,700 CN locomotive engineers in Canada without labor disruption, officials said. The current agreement between the parties expired on Dec. 31, 2008.

Union Pacific Reports Third Quarter Earnings

October 24, 2009 Railfanning.org News Wire

OMAHA, Neb. — Union Pacific Corp. reported 2009 third quarter net income of $517 million, or $1.02 per diluted share, compared to $703 million, or $1.38 per diluted share in the third quarter 2008. “Union Pacific’s third quarter results were clearly affected by the global recession and related decline in our rail traffic,” said Jim Young, Union Pacific chairman and chief executive officer. “In the face of that challenge, the Union Pacific team achieved a record third quarter operating ratio, as well as record customer satisfaction levels, by concentrating on our business fundamentals of safety, service, value and productivity.” Third

Burlington Northern Santa Fe Reports Third Quarter 2009 Results

October 23, 2009 Railfanning.org News Wire

FORT WORTH, Texas — Burlington Northern Santa Fe Corp. reported quarterly earnings of $1.42 per diluted share, which included a $0.06 per share impact related to a favorable coal rate case adjustment. This compared to third-quarter 2008 earnings of $1.99 per diluted share. “During the recession, BNSF has demonstrated significant operating leverage through ongoing dedication to controlling costs and productivity improvements,” said Matthew K. Rose, BNSF Chairman, President and Chief Executive Officer. “The combination of our significant operating leverage and long-term market opportunities places BNSF in a strong position when the economy recovers.” Third-quarter 2009 freight revenues decreased $1.28 billion,

Michael Norkus Elected to Genesee & Wyoming Board of Directors

October 23, 2009 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. announced the election of Michael Norkus to its board of directors, effective Oct. 22. Norkus will serve on GWI’s Governance Committee. Mr. Norkus is the founder and president of Alliance Consulting Group, which specializes in developing growth strategies for companies in consumer goods, manufactured products, commercial services, high-tech and retail industries. He was previously a partner and director with The Boston Consulting Group. Mr. Norkus currently serves on the board of directors of Overland Storage, Inc., where he chairs the Nominating and Governance Committee and serves on the Audit and Compensation Committees. He

Union Pacific and Progress Rail Services Ultra-Clean Diesel Locomotive for Intermediate Line Haul Service Achieves 500 Service Hours Milestone

October 23, 2009 Railfanning.org News Wire

OMAHA, Neb. — Union Pacific Railroad and Progress Rail Services announced that the ultra-clean diesel PR30C-LoNOx locomotive being tested in intermediate line haul service has successfully achieved more than 500 operational hours. The locomotive — powered by a 3516 Caterpillar engine — has been retrofitted with a state-of-the-art after-treatment system, making it one of the cleanest locomotives operating in the United States. The prototype intermediate line haul locomotive has more power than the typical 2000-horsepower 4-axle Genset “switching” locomotive used around terminals, but is less powerful than the 4400-horsepower 6-axle “line haul” locomotives used for transcontinental freight service. Union Pacific

Union Pacific Railroad Invests More Than $26 Million for Track Improvements to Its Line in Central Nebraska

October 22, 2009 Railfanning.org News Wire

OMAHA, Neb. — Trains will operate more efficiently as a result of more than $26 million in track improvements made by Union Pacific Railroad to its line between Schuyler, Neb., and Duncan, Neb. When the project is complete, crews will have removed and replaced more than 77,000 concrete ties and 30 miles of rail, spread more than 100,000 tons of rock ballast to ensure a stable roadbed and replaced the road surfaces at 17 crossings. The project began October 2 and is scheduled to be completed by mid November. Crews will complete this track improvement project using Union Pacific’s modern track

Proposed National Gateway Projects Create Thousands of Job OpportunitiesProposed National Gateway Projects Create Thousands of Job Opportunities

October 22, 2009 Railfanning.org News Wire

WASHINGTON — The National Gateway initiative will spur thousands of employment opportunities throughout the Midwest and East Coast, creating growth and building the nation’s economic competitiveness. The National Gateway is an $842 million, multi-state public-private infrastructure initiative which will create a more efficient freight rail route between Mid-Atlantic ports and Midwestern markets. Planned improvements that will create job opportunities include raising bridges, increasing tunnel clearances and building new terminals along existing rail corridors to support the movement of double-stacked containers on rail cars. The National Gateway will create more than 50,000 jobs, with almost 10,000 of those jobs created during