Railfanning.org News Wire – Page 270

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

NS: ‘Green’ Adds Up With Improved Green Machine Environmental Calculator

October 22, 2009 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corp. has enhanced its online carbon footprint analyzer, enabling rail customers to estimate the value of carbon offsets in addition to calculating the environmental benefits of shipping by rail. The “Green Machine,” available on the Norfolk Southern Web site at www.nscorp.com/footprints, features a new carbon offset calculator that computes an estimated monetary value of carbon offsets generated by switching freight from truck to rail. Type in the freight tonnage and length of haul, and the user-friendly calculator does the rest, based on the current market price of carbon offsets. “We unveiled the Green Machine more

CN Orders 70 New High-Horsepower Locomotives From GE, EMD

October 21, 2009 Railfanning.org News Wire

MONTREAL — CN announced orders for 70 new high-horsepower locomotives from GE Transportation, a unit of General Electric Co. (GE), and Electro-Motive Diesel, Inc. (EMD). CN will acquire 35 ES44DC locomotives from GE starting in the fourth quarter of 2010, and 35 SD70M-2s from EMD beginning in January 2011. The GE locomotives produce 4,400 horsepower and the EMDs 4,350 horsepower. The new units are part of CN’s multi-year locomotive-renewal program aimed at continuously increasing fuel efficiency, improving service reliability for its customers, and reducing greenhouse-gas emissions. The new locomotives are 15-20 per cent more fuel-efficient than the ones they will

More people riding the rails

October 20, 2009 Railfanning.org News Wire

ATLANTA – Amtrak in 2009 saw its second-highest ridership since its inception 38 years ago, the railroad announced. During Fiscal Year 2009, which ended Sept. 30, nearly 27.2 million people rode Amtrak. Fiscal Year 2008 still remains a record for the railroad, with 28.7 million riding the rails, however, 2009’s numbers represented a ridership increase of 5.1 percent over 2007. “In a difficult year for the economy – particularly in the travel industry – Amtrak ridership has remained strong albeit with some regional variation,” Amtrak President and CEO Joseph H. Boardman said in a news release. “In particular, reduced business

Claude Mongeau Appointed a CN Director

October 20, 2009 Railfanning.org News Wire

MONTREAL — Canadian National announced that its Board of Directors has appointed Claude Mongeau as a director of the Company, effectively immediately. Mongeau, executive vice-president of CN, will succeed E. Hunter Harrison as CN president and chief executive officer on Jan. 1, 2010. Mongeau’s appointment increases the size of CN’s board to 12, of whom 10 are outside directors. Mongeau is also a director of SNC-Lavalin Group Inc.