Railfanning.org News Wire – Page 298

Union Pacific Railroad Invests More Than $6 Million for Track Improvements from Kansas City to Jefferson City

January 30, 2009 Railfanning.org News Wire

OMAHA, Neb. — Motorists will spend less time at crossings waiting for trains to pass as a result of more than $6 million in track improvements made by Union Pacific Railroad to its Kansas City to Jefferson City line. The track improvements will allow trains to operate more efficiently on the route. When the project is complete, crews will have removed and installed more than 10 miles of rail in various curves between Kansas City and Jefferson City. Work will begin on these projects Feb. 1 and is scheduled to be completed by April 8. The Kansas City to St.

RMI Announces Fourth Annual Fast Track Award Recipients

January 30, 2009 Railfanning.org News Wire

ATLANTA — RMI, the market leader and largest independent provider of accurate, reliable, comprehensive, and secure rail information services to the transportation industry, has announced its 2009 Fast Track Award winners. Now in its fourth year, the Fast Track Award program honors RMI customers who exemplify RMI’s goal to streamline processes and improve procedures in the rail industry. This year’s award recipients will be recognized in the 2009 Fast Track calendar. The Fast Track award is designed to recognize RMI’s RailConnect and ShipperConnect “power users,” those organizations that maximize the value of RMI’s services by implementing procedures resulting in more

BNSF Announces $2.7 Billion Capital Commitment Program

January 29, 2009 Railfanning.org News Wire

FORT WORTH, Texas — BNSF Railway Co. announced a planned 2009 capital commitment program of $2.7 billion, which is expected to be approximately $150 million lower than 2008. BNSF currently expects to spend $1.9 billion to refresh track, signal systems, structures, and freight cars, and to upgrade technologies. The Company also anticipates acquiring approximately 350 locomotives at a cost of about $675 million. These locomotives are about 15 percent more fuel efficient than the locomotives they will replace. “Our 2009 capital program reflects a continued focus on ensuring our infrastructure remains strong and improving the efficiency of our operations,” said

Union Pacific Reports Fourth Quarter Earnings Growth Driven By Productivity and Lower Energy Costs

January 29, 2009 Railfanning.org News Wire

OMAHA, Neb. — Union Pacific Corp. reported 2008 fourth quarter net income of $661 million, or $1.31 per diluted share, a 35 percent increase compared to $491 million, or $0.93 per diluted share for the fourth quarter of 2007. The company posted quarterly operating revenues of $4.3 billion in 2008 versus $4.2 billion in the fourth quarter 2007. Union Pacific posted solid earnings for the quarter and the year, despite numerous challenges,” said Jim Young, Union Pacific chairman and chief executive officer. “We increased profitability by operating a safe and efficient railroad that delivered excellent service and value for our

Burlington Northern Santa Fe Reports Fourth Quarter/Full Year 2008 Results

January 29, 2009 Railfanning.org News Wire

FORT WORTH, Texas — Burlington Northern Santa Fe Corp. reported quarterly earnings of $1.79 per diluted share, an increase of 23 percent compared with fourth-quarter 2007 earnings of $1.46 per share. “During 2008, BNSF earned $6.08 per share, an increase of 19 percent compared with 2007, and had its best on-time performance in more than five years despite significant weather disruptions,” said Matthew K. Rose, BNSF Chairman, President and Chief Executive Officer. “The second half of the fourth quarter saw a significant downshift in economic activity related to the global recession. Given the current economic uncertainty, we are focused on

Norfolk Southern To Host Investor Day

January 29, 2009 Railfanning.org News Wire

NORFOLK, Va. — Norfolk Southern Corp. will host an investor day on Wednesday, June 3, 2009, in Atlanta for active, sell-side analysts and the company’s largest shareholders of record. The day-long meeting will provide Norfolk Southern an opportunity to present a comprehensive overview of marketing strategies and business growth opportunities, operating efficiency initiatives, service delivery enhancements, and development initiatives. Event details (including simultaneous webcast details for interested investors) and registration information will be provided at a later date. Meeting registration is open to active, sell-side analysts as well as NS’ largest shareholders of record. Norfolk Southern’s intent is to accommodate

And the Winner is… Missouri River Runner

January 29, 2009 Railfanning.org News Wire

JEFFERSON CITY, Mo. — The public has spoken: Missouri River Runner is the new name for the state-supported Amtrak trains between St. Louis and Kansas City. The name evokes the river that parallels much of the route, plus the Mississippi River at the eastern terminus and the Kansas River at the western end, Amtrak said. It was submitted by Keith Kohler of Glendale, Mo., and it received 2,036 votes, or 37 percent of the votes cast. More than 8,300 name submissions were entered late last year. After contest judges narrowed those submissions to just five finalist names, 5,455 votes came

Norfolk Southern Names Wheeler Vice President Transportation

January 29, 2009 Railfanning.org News Wire

NORFOLK, Va. — Michael J. Wheeler has been named vice president transportation for Norfolk Southern Corporation, effective Feb. 1, with headquarters in Norfolk. He will report to Mark D. Manion, executive vice president operations. Wheeler joined Norfolk Southern in 1985 as a research engineer. He served in positions of increasing responsibility in operations before being named general manager mechanical field operations in 2006 and general manager transportation in 2007. Wheeler holds an undergraduate degree from the University of Tennessee and an MBA from Virginia Tech. — PRNewswire-FirstCall

STB: New Method for Calculating Railroad Industry Cost of Capital

January 28, 2009 Railfanning.org News Wire

WASHINGTON — the Surface Transportation Board issued its final decision revising its method for calculating the railroad industry’s cost of capital. The Board adopts a simple average of a Capital Asset Pricing model (CAPM) and a multi-stage Discounted Cash Flow (DCF) model to calculate the cost of equity—one component of the cost of capital. The Board concludes that this methodology will yield a more precise determination than relying on CAPM alone. In January 2008, the Board replaced its single-stage DCF model with a CAPM model. During the CAPM rulemaking process, several parties urged the Board to use a multi-stage DCF

Amtrak to Host ‘Civic Conversation’ in Savannah on Rail Depot Redevelopment & Restoration

January 27, 2009 Railfanning.org News Wire

WASHINGTON — As a part of its Great American Stations Project, Amtrak is hosting its fourth Civic Conversation in Savannah, Ga., Feb. 3 and Feb. 4, to discuss the redevelopment and restoration of passenger rail stations along the routes of the Carolinian, Crescent, Palmetto, Piedmont, Silver Meteor and Silver Star. The Atlantic Coast trains serve passengers between New York and Florida and New Orleans. During the meeting on Feb. 4, case studies from both large and small communities will be highlighted. Representatives of those communities will explain how they shepherded their projects to successes that sparked additional redevelopment in their