Railfanning.org News Wire

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Norfolk Southern

Norfolk Southern’s TheFutureNeedsUs.com Focuses on the Benefits of Partnerships and Rail Corridors

September 29, 2009 Railfanning.org News Wire
NORFOLK, Va. — Norfolk Southern has launched a new Web site focusing on the benefits of its corridor and public-private partnership projects. The Web site, TheFutureNeedsUs.com, describes projects to increase rail freight transportation capacity and improve mobility and the environment. Information is provided for projects in Alabama, Mississippi, Pennsylvania, Tennessee, Virginia, and West Virginia, where governors Riley, Barbour, Rendell, Bredesen, Kaine, and Manchin are leaders in supporting transportation solutions. The site outlines how upgrading the Crescent Corridor — the existing 2,500-mile rail route from the Southeast to the Northeast — will support a stronger economy, less highway congestion, cleaner air,
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Norfolk Southern

Norfolk Southern Unveils Experimental Electric Locomotive

September 28, 2009 Railfanning.org News Wire
ALTOONA, Pa. — Norfolk Southern unveiled the latest in alternative energy locomotive technology at its Juniata Locomotive Shop in Altoona, Pa. NS 999 is a prototype 1,500-horsepower switching locomotive that relies solely on rechargeable batteries for power. “At Norfolk Southern we strongly subscribe to the view that sustainability and reducing our carbon footprint are solid business objectives that also provide enormous benefits to the communities we serve,” said CEO Wick Moorman. “By utilizing regenerated kinetic energy of the train and with no diesel exhaust emissions, NS 999 achieves those goals. “This prototype locomotive was developed by Norfolk Southern, with the
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STB

STB: Calculates Rail Industry’s Cost of Capital for 2008

September 25, 2009 Railfanning.org News Wire
WASHINGTON — The Surface Transportation Board announced it has issued its decision calculating the railroad industry’s cost of capital for 2008. In Railroad Cost of Capital — 2008, STB Ex Parte No. 558 (Sub-No. 12), the Board found that the rail industry’s after-tax cost of capital for 2008 was 11.75 percent. Last year, the cost-of-capital was 11.33 percent. The Board uses the cost of capital figure in evaluating the adequacy of individual railroads’ revenues each year. It also uses the figure when determining the reasonableness of a challenged rail rate, considering a proposal to abandon a rail line or valuing
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CSX

New CSX Intermodal Services Link Buffalo with Major East Coast Ports

September 25, 2009 Railfanning.org News Wire
BUFFALO, N.Y. — CSX Intermodal (CSXI) has begun two new international services that link Buffalo, N.Y., to the Port Authority of New York and New Jersey (PANYNJ) and Philadelphia, Pa. The services, which started Sept. 21, utilize the new CSXI Buffalo Terminal opened in 2008, with the support of the New York Department of Transportation and Erie County, increasing CSXI’s presence in the Buffalo and Toronto markets. On-dock service destined for Buffalo from the Elizabeth Marine Terminal (EMT) at the PANYNJ will be available on the second day after departure; Buffalo traffic destined for EMT will be available on the
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Canadian National

CN Completes $100 Million Memphis Yard Reconstruction

September 24, 2009 Railfanning.org News Wire
MEMPHIS, Tenn. — CN announced the completion of the $100 million multi-year construction project to reconfigure and modernize its Memphis rail classification yard. “This project transformed an aged, inefficient rail yard into a state-of-the-art, effectively designed major terminal capable of handling existing and future traffic quickly and efficiently,” said CN executive vice-president Claude Mongeau, who will succeed retiring president and chief executive officer E. Hunter Harrison on Jan. 1, 2010. “Today’s yard can handle nearly double the traffic the old facility could in a 24 hour period.” Memphis, a major freight distribution hub, is a key operating center on CN’s
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Miscellaneous

‘Common Sense’ safety tips for pedestrians

September 24, 2009 Railfanning.org News Wire
Part I: Play it safe when it comes to railroad crossings Part II: Train vs. motorists or pedestrians – the train will win A number of organizations – Operation Lifesaver, the U.S. Department of Transportation and major railroad companies – joined together to launch the Common Sense campaign. The initiative aims to reduce the number of pedestrians who are killed and injured when trespassing around tracks and trains. The only safe place to cross railroad tracks is at a public crossing—designated by the crossbuck. Turn your cell phone and MP3 players off when you’re near train tracks. Forget texting, as
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Safety

Train vs. Motorists or Pedestrians — The Train Will Win

September 24, 2009 Todd DeFeo
MARIETTA, Ga. – A number of organizations – Operation Lifesaver, the U.S. Department of Transportation and major railroad companies – joined together to launch the Common Sense campaign. The initiative aims to reduce the number of pedestrians who are killed and injured when trespassing around tracks and trains. The campaign is targeted toward 18-34 year olds. “Young adults also may be distracted by cell phones, texting, or listening to MP3 players if they’re near the tracks. This new public awareness campaign has a simple message: staying away from the tracks is common sense, and it can save your life,” Cliff
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Miscellaneous

FreightCar America Reports Strong Second Quarter 2009 Results

September 23, 2009 Railfanning.org News Wire
CHICAGO — FreightCar America reported net income of $7.0 million, or $0.59 per diluted share, for the three months ending June 30 on revenues of $104.3 million. For the second quarter of 2008, the company generated sales of $141.3 million and a net loss of $400,000, or $0.03 per diluted share. These 2009 results are consistent with the preliminary second quarter financial metrics that the company announced on July 28, officials said. The company recently announced that it had identified historical accounting errors in accounts payable that resulted in the understatement of its cumulative net earnings since the fourth quarter