Railfanning.org News Wire

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CSX

CSX Corp. Joins Settlement in 16(b) Civil Suit

December 20, 2008 Railfanning.org News Wire
JACKSONVILLE, Fla. — CSX Corp. said it has joined in a settlement with all parties to a civil action brought by plaintiff, Deborah Donoghue, a shareholder of CSX, in federal court in New York to recover so-called “short-swing” profits under Section 16(b) of the Securities Exchange Act of 1934 alleged to have been realized by defendants related to The Children’s Investment Fund and 3G Capital Partners LP in connection with their alleged purchases and sales of CSX securities. CSX is party to the suit in name only, which was brought for the benefit of CSX. The settlement is subject to
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Short Line/Regional

STB Grants Final Approval for Texas Line

December 19, 2008 Railfanning.org News Wire
WASHINGTON — The Surface Transportation Board (Board) announced it has issued a decision granting final approval for Southwest Gulf Railroad Company (SGR) to construct and operate a rail line in Medina County, Texas, subject to environmental mitigation conditions. The Board identified three environmentally acceptable routing alternatives, any one of which SGR may now build. The new rail line will extend from Vulcan Construction Material’s planned  limestone quarry in the north central part of Medina County to a connection with the Del Rio Subdivision of the Union Pacific Railroad Co. near Dunlay, Texas. Limestone aggregate from the quarry will be transported
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Commuter Rail

DOT Announces New High Speed Corridors

December 19, 2008 Railfanning.org News Wire
NEW YORK — The U.S. Department of Transportation will begin accepting expressions of interest to finance, design, build, operate and maintain high-speed trains on the Northeast Corridor and in 10 other federally-designated corridors around the nation. “This is a first step in a process established by Congress to put ideas to paper, and to make concrete proposals for what the future might look like,” Transportation Secretary Mary Peters said. “Imagine traveling by train between New York City and Washington, D.C. in just two hours or cutting your trip time by 25 percent between New York City and Boston,” Peters said.
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Norfolk Southern

Norfolk Southern Offers $1 Million Challenge Grant to Assist Virginia Museum of Transportation

December 19, 2008 Railfanning.org News Wire
ROANOKE, Va. — Norfolk Southern Corp. has offered a challenge grant of $1 million to the Virginia Museum of Transportation (VMT) for capital and operating expenses over a three-year period to help the museum implement certain recommendations from Museum Management Consultants. The challenge grant is contingent on equal commitments of support by both the governments of the Roanoke Region and by other private donors to meet the estimated $3 million required for the museum’s long-term needs. Norfolk Southern also will assist museum staff in drawing up a three-year business plan and establishing measurable objectives to restore the museum’s vitality. In
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Legislation

New Rail Competition Study Rejects Reregulation

December 19, 2008 Railfanning.org News Wire
WASHINGTON – A new study for the Surface Transportation Board (STB) on competition in the freight railroad industry says that “both railroads and their customers benefited” from the partial rail deregulation introduced by the Staggers Rail Act of 1980. The study also rejected the principal proposals for reregulation of the railroad industry, saying they could harm the industry or would otherwise be inappropriate. “We’re pleased that this independent study has affirmed key economic principles on which the STB has relied for many years in its regulation of the railroad industry,” said Association of American Railroads (AAR) President and CEO Edward
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Canadian National

CN, Schererville, Ind., Agree on Mitigation Plan for EJ&E Transaction

December 19, 2008 Railfanning.org News Wire
CHICAGO — CN announced an agreement with the Town of Schererville, Ind., located 28 miles south of Chicago, that would mitigate the impact on the community of CN’s proposed acquisition of the principal lines of the Elgin, Joliet & Eastern Railway Company (EJ&E). Under the agreement, CN will assist in the creation and maintenance of quiet zones in Schererville, and take various steps to improve train operations, communications, and emergency preparedness in the municipality. The agreement is contingent upon regulatory approval of CN’s proposed acquisition of the EJ&E. The transaction is being reviewed by the Surface Transportation Board (STB), which
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Canadian National

CN, Village of Mundelein, Ill., Reach Agreement on Mitigation Plan for EJ&E transaction

December 9, 2008 Railfanning.org News Wire
CHICAGO — CN and the Village of Mundelein, Ill., located northwest of Chicago, today jointly announced a voluntary mitigation agreement addressing the municipality’s concerns regarding CN’s proposed acquisition of the principal lines of the Elgin, Joliet & Eastern Railway Company (EJ&E). Under the agreement, CN will assist in the maintenance of quiet zones, and take various steps to increase the fluidity of train movements through Mundelein, as well as improve safety, communications, emergency preparedness, and Metra access. The agreement is contingent upon regulatory approval of CN’s proposed acquisition of the EJ&E. The transaction is being reviewed by the Surface Transportation
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Amtrak

Amtrak and KDOT Agree on Scope of Study

December 9, 2008 Railfanning.org News Wire
CHICAGO — The Kansas Department of Transportation (KDOT) and Amtrak have agreed on the scope of the Amtrak Expansion Feasibility Study. KDOT has budgeted $200,000 for the study. The study will identify capital requirements and operating costs needed to provide state-sponsored passenger rail service between Kansas City, Oklahoma City and Fort Worth. The study will consider factors such as potential schedules, railcar and locomotive availability and capital needs for rail improvements to accommodate passenger service. As part of the study, BNSF Railway will analyze the capacity of the route because a passenger rail service would have to share the tracks