Railfanning.org News Wire – Page 259

Study: Railroad rates increasing since 2004

February 1, 2010 Railfanning.org News Wire

WASHINGTON — An independent team of consultants charged with looking at competitiveness in the U.S. rail industry has found that railroad rates have been steadily increasing since 2004, with a particularly steep increase in 2008. But Christensen Associates Inc. found that the rate increases were driven by fluctuating fuel prices and other costs and did not appear to reflect a greater exercise of railroad market power over captive shippers. The updated study, which now includes data from 1987 through 2008, found that a greater share of traffic in 2007 and 2008 moved at rates less than 180 percent of variable costs than in 2005 and 2006. Variable costs include fuel,

Man Killed After Amtrak Train Crashes Into Truck

January 30, 2010 Railfanning.org News Wire

FAYETTEVILLE, N.C. — A man was killed after an Amtrak train crashed into his pickup truck, authorities said.

Gertler: America Moves from Anticipation to Action

January 30, 2010 Railfanning.org News Wire

KANSAS CITY, Mo. — “America takes its first step toward transforming its transportation system,” said HNTB Corporation’s Peter Gertler in response to President Barack Obama’s announcement allocating $8 billion to high-speed rail projects across the country. Gertler, high-speed rail services chair for the national infrastructure firm, said these projects – along current and proposed rail lines in California, Illinois, Wisconsin, Florida, North Carolina, New York, New Jersey and elsewhere – will yield significant benefits to the recipient states and regions. “Even in the short-term, such an investment will spur construction, create jobs and boost local transit systems. In the future,

Amtrak to Perform High-Speed Rail Improvement Study in Michigan

January 30, 2010 Railfanning.org News Wire

CHICAGO – Amtrak will perform a high-speed rail improvement study that will focus on determining what infrastructure upgrades are needed to provide 110 mph train service on the Norfolk Southern-owned rail corridor between Kalamazoo, Mich., and Detroit. “Amtrak believes 110 mph train service across Michigan is critical for the future and we’re committed to understanding what it will take to get there,” said President and CEO Joseph Boardman, noting that Amtrak’s Wolverine service provides three daily roundtrips between Chicago and Pontiac via Detroit over the corridor. Boardman said Amtrak trains currently operate at 79 mph over the Norfolk Southern line between

Obama Announces $8 Billion for High-Speed Rail

January 28, 2010 Railfanning.org News Wire

TAMPA, Fla. — President Barack Obama and Vice President Joe Biden today announced the U.S. Department of Transportation (USDOT) is awarding $8 billion to states across the country to develop America’s first nationwide program of high-speed intercity passenger rail service.

Norfolk Southern Reports 2009 Fourth-Quarter and Full-Year Results

January 27, 2010 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corp. reported fourth-quarter 2009 net income of $307 million, or $0.82 per diluted share, compared with $452 million, or $1.21 per diluted share, for the same quarter of 2008. Net income for 2009 was $1.0 billion, or $2.76 per diluted share, compared with $1.7 billion, or $4.52 per diluted share, for 2008. “Our fourth-quarter results demonstrate a continuation of the momentum we have generated since the second quarter of 2009,” said CEO Wick Moorman. “The results reflect a high level of performance throughout Norfolk Southern, and showcase the strength and flexibility of our franchise, our

CN Reports Q4-2009 Net Income

January 26, 2010 Railfanning.org News Wire

MONTREAL — CN reported its financial and operating results for the fourth quarter and year ended Dec. 31, 2009. Fourth-quarter and full-year 2009 highlights: — Net income and diluted earnings per share for the final quarter of 2009 increased two per cent from the year-earlier period to C$582 million and C$1.23, respectively. The results included an after-tax gain of C$59 million (C$0.12 per diluted share) from a line-sale to Metrolinx, a transit agency in Toronto, and a deferred income tax recovery of C$99 million (C$0.21 per diluted share). — Excluding these items, adjusted fourth-quarter 2009 net income was C$424 million,

Thomas D. Bell Jr. Elected to Norfolk Southern Board

January 26, 2010 Railfanning.org News Wire

NORFOLK, Va. — Thomas D. Bell Jr., chairman of SecurAmerica LLC, has been elected a director of Norfolk Southern Corp., Norfolk Southern CEO Wick Moorman announced today. Bell retired as chairman and chief executive officer of Cousins Properties in July 2009. He previously served as chairman and CEO of the advertising and communications firm Young and Rubicam Inc., vice chairman and director of Gulfstream Aerospace Corporation, executive vice president of Ball Corporation, chairman of the Center for Naval Analysis, and president and CEO of the Hudson Institute. Bell attended the University of Tennessee and New York University. He served as

NTSB Investigating WMATA Accident

January 26, 2010 Railfanning.org News Wire

WASHINGTON — The National Transportation Safety Board has launched a team of investigators to today’s Washington Metropolitan Area Transit Authority (WMATA) accident in Rockville, Md. At 1:45 am (EST) a hi-rail vehicle, in the work zone on the red line near Rockville Station, struck and killed two employees on the track. The Metro employees, both males, were struck by a prime mover, a diesel-powered piece of equipment that is used to move heavy equipment, according to the preliminary report from Metro Transit Police. The employees were working along an outbound section of track on the Red Line in the direction

Metro Workers Struck by Track Equipment in Fatal Accident

January 26, 2010 Railfanning.org News Wire

WASHINGTON — Two Metro track workers were struck and killed by a piece of track equipment early this morning, Jan. 26, near the Rockville Metrorail station.