Railfanning.org News Wire – Page 335

Amtrak Celebrates National Train Day with Ceremony Honoring Pullman Porters in Chicago

May 9, 2008 Railfanning.org News Wire

CHICAGO – Amtrak, in partnership with the Chicago-based A. Philip Randolph Museum, will host a ceremony during National Train Day this Saturday (May 10, 2008) to honor the contributions of the legendary Pullman Porters to the nation’s railroads. Amtrak employees will gather to give heartfelt thanks in person to six porters who proudly served as far back as the mid-1940s. Honored are Eugene Bowser of Chicago, Linus J. Scott of Gary, Ind., William Turner of Cincinnati and three men from Omaha, Neb.: Terry Edwards, Johnny Newsome and Raymond Willis (biographical information attached). “The celebration is an opportunity for Amtrak’s current

Canadian Pacific Railway Limited Declares Dividend

May 9, 2008 Railfanning.org News Wire

CALGARY — The Board of Directors of Canadian Pacific Railway have declared a quarterly dividend of twenty four and three quarter cents ($0.2475) Canadian per share on the outstanding Common Shares. The dividend is payable on July 28 to holders of record at the close of business on June 27 and is an eligible dividend pursuant to the Income Tax Act. — PRNewswire-FirstCall

Balanced Traffic Mix Drives Success, Moorman Tells Stockholders at Annual Meeting

May 8, 2008 Railfanning.org News Wire

NORFOLK, Va. — A balanced mix of traffic has enabled Norfolk Southern to post solid financial and operating performance in spite of softness in the housing and automotive markets, said Chief Executive Officer Wick Moorman during the company’s 26th annual stockholders meeting, held in Norfolk, Va. “Our results speak volumes for something that we talk about all the time – the strength of our balanced portfolio of business,” Moorman said. “We’re really seeing two different economies out there in that a large component of our business is very healthy. Our agricultural business and anything having to do with commodities are

KCS Announces Tender Offer and Consent Solicitation

May 8, 2008 Railfanning.org News Wire

KANSAS CITY, Mo. — The Kansas Southern Railway Co. has commenced a cash tender offer for any and all of its $200 million aggregate principal amount of 9 1/2 percent Senior Notes due 2008 and a consent solicitation to amend the related Notes and indenture. The terms and conditions are set forth in the Offer to Purchase and Consent Solicitation Statement dated May 8. — PRNewswire-FirstCall

STB Makes Rail Revenue Adequacy Determination for 2006

May 6, 2008 Railfanning.org News Wire

WASHINGTON –Three Class I railroads, the BNSF Railway Co., the Norfolk Southern Railway Co., and the Soo Line Railroad Co. (a subsidiary of Canadian Pacific Railway Co., were revenue adequate for 2006. All other Class I freight railroads were found to be revenue inadequate for that year. The Surface Transportation Board made its determinations of revenue adequacy for the seven Class I freight railroads (the Nation’s largest) for 2006. A railroad is considered to be revenue adequate if it achieves a rate of return on net investment (ROI) equal to at least the current cost of capital (i.e., the cost

CSXT and Brewton First Responders to Hold Safety Blitz and Safety Class

May 6, 2008 Railfanning.org News Wire

BREWTON, Ala. — CSX Transportation will hold several railroad safety awareness activities on May 6 in conjunction with the Brewton Police Department, the Brewton Fire Department as well as Alabama Operation Lifesaver Volunteers. A safety blitz will take place at the CSXT railroad crossing at Mildred and Deer Streets from 9-11 a.m. Drivers in that area will be greeted by CSXT employees, Operation Lifesaver volunteers and area first responders, who will distribute safety flyers to drivers while they are stopped at the red lights on either side of the street approaching the crossing. In addition, CSXT will conduct a Railroad

Metrorail Extension to Tyson’s Corner, Dulles International Airport Moving Forward

May 5, 2008 Railfanning.org News Wire

WASHINGTON — The Metropolitan Washington Airports Authority (MWAA) has substantially improved its proposal to extend Metrorail, responding various concerns the Department of Transportation raised in January, the Federal Transit Administration (FTA) announced. “Consequently, we have sent the required 10-day notification to Congress that we intend to move the project into the Final Design stage of FTA’s New Starts Process,” Federal Transit Administrator James S. Simpson said in a statement. “FTA will commit $158.7 million to use toward completion of a financial plan, construction plans, detailed engineering specifications and cost estimates, and other technical requirements. “However, there are still hurdles facing

FRA Awards Two Grants to Washington State DOT

May 3, 2008 Railfanning.org News Wire

WASHINGTON — The Federal Railroad Administration has awarded two grants to the Washington State Department of Transportation to improve rail safety and upgrade infrastructure. A $1.5 million grant for the Tacoma Rail Mountain Division will be used to upgrade four bridges and repair rail, crossties, and equipment on several highway/rail grade crossings between Tacoma and Morton. These safety improvements will benefit freight as well as passenger excursion operations to Mt. Rainier National Park. In addition, $360,943 has been granted for the Olympia Infrastructure Enhancement Project to improve safety at the Market Street highway/rail grade crossing adjacent to the Port of

CSX Highlights Board’s Market-Leading Track-Record in Investor Presentation

May 2, 2008 Railfanning.org News Wire

JACKSONVILLE, Fla. — CSX Corp. announced that it has filed an investor presentation with the Securities and Exchange Commission in connection with the company’s 2008 annual meeting of shareholders, which is scheduled for Wednesday, June 25. “CSX’s Board of Directors has driven extraordinary shareholder returns, financial and operational performance, and excellence in corporate governance and offers a compelling future outlook,” said Michael J. Ward, CSX chairman, president and chief executive officer. “We look forward to meeting with CSX investors to discuss our track-record of success and concrete plans to continue to create value for all shareholders. We believe that the

CSX Announces National Gateway to Improve Flow of Freight

May 2, 2008 Railfanning.org News Wire

DUBLIN, Ohio — CSX Corp. has launched the National Gateway, a $700 million public-private infrastructure initiative to create a highly efficient freight transportation link between the Mid-Atlantic ports and the Midwest. When completed, the National Gateway would provide greater capacity for product shipments in and out of the Midwest, reduce truck traffic on already crowded highways, and create thousands of jobs that directly or indirectly support the National Gateway. CSX has already committed $300 million to the National Gateway, and will work with several states and the federal government to secure additional funding. The National Gateway incorporates two primary parts.