Railfanning.org News Wire – Page 318

Norfolk Southern Reports Record Results; Net Income Increases 15 Percent

July 22, 2008 Railfanning.org News Wire

NORFOLK, Va. — For the second quarter of 2008, Norfolk Southern Corp. reported record net income of $453 million, or $1.18 per diluted share, compared with $394 million, or $0.98 per diluted share, for the same period of 2007. Second-quarter railway operating revenues were a record $2.8 billion, up 16 percent compared with the second quarter of 2007. “Norfolk Southern delivered record financial results during the quarter, reporting continuing strength in our coal, agriculture, and metals markets,” said Norfolk Southern CEO Wick Moorman. “Looking ahead, our franchise should continue to benefit from a broad and balanced customer base as well

Deputy Secretary of Transportation Barrett Announces $1 Million Grant to Help Reduce the Leading Causes of Rail-Related Deaths

July 22, 2008 Railfanning.org News Wire

WASHINGTON — Deputy Secretary of Transportation Vice Admiral Thomas J. Barrett announced a $1.015 million grant to continue federal support of public education efforts to reduce collisions between trains and motor vehicles at highway-rail grade crossings and discourage illegal trespassing along railroad rights of way. “Most rail-related deaths are preventable, and the far-reaching educational outreach efforts of Operation Lifesaver helps save lives every day,” said Barrett, noting that in 2007 there were 338 grade crossing and 473 trespasser deaths which accounted for a combined 95 percent of all rail-related fatalities. Barrett explained that the grant is being provided by the

CSX Issues Statement Regarding TCI Group Letter

July 22, 2008 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. the following statement in response to a letter sent by the TCI Group to the CSX Board of Directors, making three points: “First, vote counts in contested elections always take time. The time period for this review is not unusual. The value of the process has been proved in the fact that the process has already identified errors in the preliminary report, which have been confirmed by the independent inspector of election. The review continues in good faith.” “Second, the uncertainty in the vote count is significant enough to matter to the ultimate composition of

Canadian Pacific Announces Second-Quarter Results

July 22, 2008 Railfanning.org News Wire

CALGARY — Canadian Pacific Railway Limited announced its second-quarter results today, and net income in the second quarter was $155 million, a decrease of 40 percent from $257 million in 2007, and diluted earnings per share was $1.00, a decrease from $1.64 in the second quarter of 2007. Highlights include: Total revenues were essentially flat at $1.22 billion Income before foreign exchange gains and losses on long-term debt and other specified items decreased to $150 million from $175 million Adjusted diluted earnings per share decreased to $0.97 from $1.12 Operating ratio was 79.4 per cent compared with 74.7 per cent

BNSF Railway Company Named Intermodal Carrier of the Year

July 19, 2008 Railfanning.org News Wire

FORT WORTH, Texas — BNSF Railway Company was recently honored by Owens Corning as the 2007 Intermodal Carrier of the Year. “BNSF intermodal’s commitment to safety, consistent service and open communications with Owens Corning has been essential to their success. With a changing marketplace, having a provider like BNSF allows us to supply our customers with high-quality delivery performance using a very efficient mode of transport,” said Troy Stevenson, Owens Corning, Carrier Relations Leader, North America Dry Van & Intermodal Transportation. “I think I speak for everyone up and down the line at BNSF when I say it is an

BNSF Places Ultra-Low-Emissions Locomotives in Service in DFW and Houston

July 19, 2008 Railfanning.org News Wire

FORT WORTH, Texas — BNSF Railway Company today announced that it has placed 67 GenSet switch locomotives in service for the Dallas/Fort Worth and Houston areas. The GenSets were acquired through the Texas Commission on Environmental Quality’s (TCEQ) Emissions Reduction Incentive Grants (ERIG) Program, which provides grants to eligible projects in non-attainment areas and affected counties. The GenSet locomotive is a low-horsepower switch locomotive with three engines that operate only as needed, potentially reducing nitrogen oxide and particulate matter emissions by 80 to 90 percent and improving fuel efficiency by 15 percent over standard switch engines. “BNSF is pleased to

N.J. Transit Buys New Dual-Powered Locomotives

July 18, 2008 Railfanning.org News Wire

NEWARK, N.J. — N.J. Transit took another step forward in the modernization of its rail fleet, as the Board of Directors approved the purchase of 26 dual-powered locomotives to replace its aging diesel fleet.The Board awarded a contract to Bombardier Transit Corporation for the purchase of 26 dual-powered locomotives — which can operate in both electrified and non-electrified territory — at a total cost of approximately $310 million, including design, engineering, manufacturing, training and spare parts, with the option to purchase additional locomotives in the future. “With gas prices over $4 a gallon and climbing, New Jersey commuters are flocking

N.J. Transit Adopts $1.7B FY09 Operating Budget

July 18, 2008 Railfanning.org News Wire

NEWARK, N.J. — The N.J. Transit Board of Directors adopted a Fiscal Year 2009 Budget that supports historic ridership levels by increasing seat capacity, modernizing the bus and rail fleets and maintaining the system in a state of good repair. The N.J. Transit Board approved a $1.7 billion FY09 operating budget and a $1.29 billion capital plan that advances major capacity-enhancing projects, funds improvements at bus and rail facilities and supports the purchase of transit vehicles to replace aging equipment. “Ensuring that the residents of New Jersey have a safe, efficient and reliable public transit system has been a priority

ARC Gets $75M in Funding

July 18, 2008 Railfanning.org News Wire

NEWARK, N.J. — Sen. Frank R. Lautenberg and Robert Menendez, both Democrats, said they successfully appropriated $75 million towards the Access to the Region’s Core (ARC) project – more than five times the amount dedicated last year – further advancing the engineering of two new rail tunnels under the Hudson River. “The unwavering support from senators Lautenberg and Menendez for this critical project will help provide relief to the state’s transportation system,” N.J. Gov. Jon S. Corzine said. “We applaud their efforts to secure record levels of appropriations for this project.” “This funding is keeping the ARC Tunnel project moving

FRA Issues Proposed Rule to Improve Protection for Railroad Roadway Workers

July 18, 2008 Railfanning.org News Wire

WASHINGTON — The Federal Railroad Administration has issued a Notice of Proposed Rulemaking to improve protection for roadway workers from train or equipment movements on an adjacent track. The proposal would require railroads, contractors to railroads, and roadway workers to adopt and comply with additional on-track safety procedures. It will cover work groups using certain maintenance equipment, when at least one worker is on the ground and the centerline of the adjacent track is 19 feet or less from the centerline of the track being worked on. FRA is also proposing to expand requirements for job safety briefings, training, and