Railfanning.org News Wire

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Amtrak

Amtrak Buying 130 New Passenger Rail Cars to Support Long-Distance Train Service

July 31, 2010 Railfanning.org News Wire
WASHINGTON – Amtrak is implementing the first step in a long-term, comprehensive fleet renewal plan with the purchase of 130 new single-level rail cars to support its long-distance train services. The five-year, $298.1 million contract is being awarded to CAF USA which is creating 575 jobs to perform manufacturing and final assembly work at its plant in Elmira, N.Y. The first car is scheduled to roll off the assembly line in October 2012. “This major equipment purchase demonstrates our strong belief in the future of intercity passenger rail in America and Amtrak’s leading role in meeting this critical national transportation
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Commuter Rail

U.S. Transportation Secretary LaHood Announces $727,000 for New York High-Speed Rail

July 31, 2010 Railfanning.org News Wire
NEW YORK — U.S. Transportation Secretary Ray LaHood announced $727,000 for the State of New York to continue work on its high-speed rail program with the rehabilitation of the Buffalo-Depew railroad station. The Department of Transportation has provided New York $1.7 million of the $151 million awarded under the American Recovery and Reinvestment Act (ARRA) for high-speed rail. “President Obama’s bold vision for high-speed rail is a game-changer for transportation in New York and the United States,” LaHood said. “This undertaking is not only creating good jobs and reinvigorating our manufacturing base, it’s also going to reduce our dependence on
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Canadian National

CN Announces Plan to Buy Back Shares Through Private Agreements

July 30, 2010 Railfanning.org News Wire
MONTREAL — CN said it intends to purchase for cancellation up to two million of its common shares pursuant to private agreements between CN and an arm’s-length third-party seller. The purchases will form part of CN’s 15-million share repurchase program announced on Jan. 26. Such purchases will be made pursuant to an issuer bid exemption order issued by the Ontario Securities Commission and will take place before the end of September 2010. The price that CN will pay for any common shares purchased by it under such agreements will be negotiated by CN and the seller and will be at
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Norfolk Southern

Norfolk Southern Completes $21 Million Worth of Track Work in Seven Days in Southwestern Pennsylvania

July 30, 2010 Railfanning.org News Wire
NORFOLK, Va. — Earlier this month, Norfolk Southern’s Maintenance of Way and Structures Department completed $21 million in track, signal and bridge work in seven days on one if its primary coal lines in southwestern Pennsylvania. The Mon Line extends approximately 85 miles from Pittsburgh to coal mines in Washington and Greene counties. In 2009, almost 42 million tons of coal was transported over this rail line. Approximately 20 trains daily use the Mon Line. “Because the Mon Line is critical to Pennsylvania’s coal industry, every year in early July we undertake an intensive effort to maintain and improve the
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Norfolk Southern

Norfolk Southern Receives Industry Automotive Service Awards

July 30, 2010 Railfanning.org News Wire
NORFOLK, Va. — Norfolk Southern’s Automotive Distribution Group recently received two Automotive Quality Excellence Awards for outstanding service from the Association of American Railroads (AAR). The awards are based on rigorous, unannounced audits of rail-served automotive facilities throughout North America. Norfolk Southern won the Highest Quality Review Score for Destination Facilities by achieving a perfect score of 100 percent at its Titusville, Fla., automotive facility. This was the first perfect score ever given any facility since the AAR began its present audit program in 1997. Norfolk Southern also won the award for Greatest Overall Quality Review Score Improvement at Chrysler’s
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FRA

U.S. Transportation Secretary LaHood, Governor Doyle Sign Agreement for $46.5 Million for Wisconsin High-Speed Rail

July 30, 2010 Railfanning.org News Wire
WASHINGTON — U.S. Transportation Secretary Ray LaHood and Wisconsin Gov. Jim Doyle have signed an agreement providing $46.5 million in American Recovery and Reinvestment Act funds for work to continue on the state’s aggressive high-speed rail program. The funding is the latest installment from the $822 million that President Obama announced for Wisconsin high-speed rail from the Recovery Act in January. Wisconsin previously received a $5.7 million Recovery Act grant that brings their high-speed rail total to $52.2 million. Nationally, an unprecedented $8 billion down payment for the creation of a national network of interconnected high-speed rail corridors was included
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Canadian National

CN, TSI Sign Service Level Agreement

July 28, 2010 Railfanning.org News Wire
MONTREAL — CN and TSI Terminal Systems Inc. announced the signing of a comprehensive Service Level Agreement (SLA). The agreement, which establishes specific performance targets and measurement tools, flows from the CN-TSI Supply Chain Collaboration Agreement announced last month that commits the parties to drive greater efficiencies and improve customer service at the Vancouver gateway. The CN-TSI SLA is designed to help improve a range of Key Performance Indicators for the benefit of mutual customers, including the on-time departure and arrival of trains, the utilization of train capacity, and the average dwell time of containers at TSI terminals, among other
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Canadian Pacific

Canadian Pacific Announces Second Quarter Results

July 28, 2010 Railfanning.org News Wire
CALGARY — Canadian Pacific Railway announced second-quarter net income of $166.6 million. Diluted earnings per share were $0.98, up 23 per cent from $0.80 in the second-quarter 2009 which included a $0.41 per share gain from an asset sale. “We leveraged volume growth in the quarter to deliver a solid financial performance through a keen focus on cost management,” said Fred Green, President and CEO. “Our emphasis on safety, productivity and asset velocity is improving service reliability for our customers.” — Adjusted diluted earnings per share increased 96 percent to $0.92 — Total revenues were up 20 per cent to
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Norfolk Southern

Norfolk Southern Increases Stock Repurchase Program

July 27, 2010 Railfanning.org News Wire
NORFOLK, Va. — Norfolk Southern Corp. announced that its board of directors has authorized the repurchase of up to an additional 50 million shares of its common stock through Dec. 31, 2014. In combination with the previous share repurchase program that expires on Dec. 31, 2010, the total number of shares that may be repurchased has increased from 75 million to 125 million. From February 2006 through June 30, 2010, approximately 66.7 million shares have been repurchased for $3.4 billion. The timing and volume of any purchases will be guided by management’s assessment of market conditions and other factors. Norfolk