CSX
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Miscellaneous
Railroads in 2002
Burlington Northern Santa Fe (NYSE: BNI) FORT WORTH, Texas – BNSF’s earnings per share for the year ended December 31, 2002, was $2.00 on a diluted basis compared with prior period earnings of $1.87 per diluted share. Freight revenues for the year were $8.87 billion compared with 2001 revenues of $9.09 billion. Operating expenses of $7.32 billion decreased by $135 million. Operating income fell to $1.66 billion from $1.75 billion as compared with the prior period. 2001 earnings include unusual items comprised of an automotive contract settlement gain, losses on non-rail investments, work force reduction related costs and an expense
Union Pacific
UP Offers Quick Web Pricing Solutions For Expanding “MexDirect” Service
OMAHA, Neb. – Union Pacific has announced that customers can now access rail through-rates and easy-to-use instructions on the UP Web site for their MexDirect product, offered in conjunction with the Transportacion Ferroviaria Mexicana and other participating rail connections. MexDirect, first introduced last year, is the industry’s first “one-stop” rail product for shipments moving between major markets in the U.S., Canada and Mexico. Union Pacific and Transportacion Ferroviaria Mexicana (TFM ) also announced the expansion of this innovative product, first introduced to cover iron and steel sheet or coil, to include other steel products, lumber, and various panel products. “We
CSX
CSXT Modifies Fuel Cost Recovery Program
JACKSONVILLE, Fla. – In an effort to more quickly respond to changing market conditions and the continued volatility in fuel prices, CSX Transportation (CSXT) announced today modifications to its fuel cost recovery program. After the transition to the new program, CSXT’s fuel surcharges will be applied in smaller increments, on a more real-time basis, consistent with increases or decreases in fuel prices. With the changes, CSXT will no longer only adjust surcharges in 2 percnt increments for every $5/barrel change in crude oil prices. Instead, the surcharge will be adjusted up or down 0.4 percent for every dollar increase or
Canadian Pacific
CPR Uses Vin Numbers To Boost Auto Shipment Efficiency
TORONTO, Ontario – Canadian Pacific Railway is nearing completion of a $4.5-million, multi-year program to harmonize railway shipments of motor vehicles with manufacturers’ and dealers’ computerized inventory systems through the use of the Vehicle Identification Number (VIN) that appears beneath the windshield of every new car and light truck. Once fully operational by mid-year, the Canadian Pacific Railway (CPR) VIN program will make it possible for customers to follow the progress of not only railway freight cars but also the individual automobiles and light trucks in them as they make their way from assembly plants to showrooms via the railway’s
Canadian Pacific
CPR Joins Customs-Trade Partnership Against Terrorism
CALGARY, Alberta – Canadian Pacific Railway on March 21 announced it has further strengthened its cross-border security by joining the U.S. Customs-Trade Partnership Against Terrorism (C-TPAT). C-TPAT is a U.S. Bureau of Customs and Border Protection initiative to build relationships between business and government that strengthen overall supply chain and border security. “C-TPAT membership is an important vote of confidence in the steps CPR has taken to run a secure railway in the face of recent security threats,” Rob Ritchie, CPR’s President and Chief Executive Officer, said. “Initiatives such as C-TPAT help to keep important international trade routes operating safely
Amtrak
Amtrak Gets Most of Requested Funding
WASHINGTON – Congress on Feb. 13 passed legislation granting Amtrak a $1.05 billion operating and capital grant for the 2003 fiscal year. Additionally, repayment of a June 28, 2002, $100 million from the U.S. DOT loan from has been deferred. “We have no plans to shut down,” Amtrak spokeswoman Karina Van Veen told Gannett News Service. Amtrak’s $1.2 billion request for the fiscal year was predicated upon projected revenue levels and tight controls on spending. Despite the appropriation, Amtrak still believes sustaining operations will be an ongoing challenge. “Though the budget will be extremely tight, this funding level should be
Amtrak
Amtrak Gets Most of Requested Funding
WASHINGTON – Congress on Feb. 13 passed legislation granting Amtrak a $1.05 billion operating and capital grant for the 2003 fiscal year. Additionally, repayment of a June 28, 2002, $100 million from the U.S. DOT loan from has been deferred. “We have no plans to shut down,” Amtrak spokeswoman Karina Van Veen told Gannett News Service. Amtrak’s $1.2 billion request for the fiscal year was predicated upon projected revenue levels and tight controls on spending. Despite the appropriation, Amtrak still believes sustaining operations will be an ongoing challenge. “Though the budget will be extremely tight, this funding level should be
Miscellaneous
Intermodal Freight: The Railroad’s livelihood
For a sixth time in seven years, intermodal freight set an annual record during 2002, according to the Association of American Railroads (AAR). “2002 was a very challenging year for industries across the economic spectrum, including freight railroads,” said AAR vice president Craig F. Rockey. “Obviously, we’re pleased to have set another intermodal record — an indication that the intermodal partnerships between railroads, motor carriers, and steamship lines are working extremely well.” Intermodal — the movement of trailers or containers on rail cars — accounts for approximately 20 percent of U.S. Class I rail revenue. Over the past 10 years,
Amtrak
Amtrak Funding: What’s the Answer?
Can Amtrak operate without government funding? “Earlier today I met with Senator Patty Murray of the Appropriations Committee concerning Amtrak funding for FY ’03,” Amtrak President David L. Gunn said on Jan. 15, 2003. “I updated Senator Murray on the progress being made to stabilize Amtrak’s operations and finances and to bring tight new fiscal controls to bear on the company. I also repeated my concern that federal funding substantially less than $1.2 billion in FY ‘03 will take us right back to the near-shutdown we experienced last summer.” Murray, D-Washington, along with several Senate Republicans, on Jan. 16 ensured