Short Line/Regional – Page 16

DM&E Railroad Sees Management Change

October 7, 2008 Railfanning.org News Wire

CALGARY — Richard Hamlin, Trustee for CP’s acquisition of the DM&E announced some changes to DM&E’s senior management team, which come shortly after CP said it is buying the regional railroad. Effective immediately, Kevin Schieffer, President and CEO, has left the company to pursue other opportunities. Ed Terbell, Chief Operating Officer, and Kurt Feaster, Chief Financial Officer, will manage the day to day operations of the railway while the DM&E remains in trust. “Messrs. Feaster and Terbell and the management team have been strong performers in managing the DM&E, and its subsidiaries: Iowa, Chicago & Eastern Railroad and Cedar American

Genesee & Wyoming Completes Acquisition of Ohio Central Railroad System

October 1, 2008 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. has completed its acquisition of 10 short line railroads known as the Ohio Central Railroad System (OCR) for $234.3 million in cash, subject to adjustment for final working capital. The cash purchase price includes $7.5 million of contingent consideration that GWI has placed into escrow, which will be paid to the seller upon satisfaction of certain conditions. OCR has more than 170 employees, operates over 445 miles of track and owns 64 locomotives. The railroads handle approximately 140,000 annual carloads, primarily in the coal, steel and solid waste industries. GWI financed the cash

Genesee & Wyoming Acquires Georgia Southwestern Railroad

October 1, 2008 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. has acquired the Georgia Southwestern Railroad, Inc. for cash consideration of approximately $16.5 million and the assumption of $5.4 million in debt, subject to adjustment for final working capital. Headquartered in Dawson, Ga., the Georgia Southwestern operates over 220 miles of track between White Oak, Ala., and Smithville, Ga.; Cuthbert, Ga., and Bainbridge, Ga. and in and around Columbus, Ga. The Georgia Southwestern connects to GWI’s Chattahoochee Industrial Railroad in Saffold, Ga., via trackage rights. The Georgia Southwestern has 20 employees and 10 locomotives and carries approximately 10,000 carloads per year, primarily serving

STB Approves CP’s DM&E Purchase

September 30, 2008 Railfanning.org News Wire

WASHINGTON — The Surface Transportation Board approved Canadian Pacific Railway Limited’s plan to buy the Dakota, Minnesota & Eastern Railroad Corporation and its subsidiaries: Iowa, Chicago & Eastern Railroad and Cedar American Rail Holdings. The official effective date of the final decision is Oct. 30. “The DM&E is an excellent fit for Canadian Pacific making this a strategic end-to-end addition to our network,” said Fred Green, President and Chief Executive Officer of CP. “This is also a positive development for CP, DM&E and IC&E customers. CP customers will have direct single line access to the Midwest US markets and the

House Approves Rail Safety Bill; Billions to go to Passenger Rail

September 27, 2008 Railfanning.org News Wire

WASHINGTON — The House of Representatives has approved legislation that proponents say will improve the Nation’s intercity passenger rail system and the safety of the nation’s railroads. The Rail Safety Improvement Act of 2008 and the Passenger Rail Investment and Improvement Act of 2008 will increase funding for Amtrak over the next five years, require new safety controls on trains that help reduce crashes, allow states to regulate solid waste processing facilities along rail lines and allocate funding for improvements to Washington’s Metro transit system. The legislation sets “an aggressive deadline” of 2015 for implementation of positive train control (PTC)

Hurricane Ike Causes Rail Freight Downturn

September 27, 2008 Railfanning.org News Wire

WASHINGTON — Freight traffic on U.S. railroads was off sharply during the week ended September 20 in comparison with the same week last year, the Association of American Railroads (AAR) reported. Much of the decline can be attributed to disruptions caused by Hurricane Ike which struck the Gulf Coast Sept. 13. Total volume was estimated at 32.8 billion ton-miles, down 6.8 percent from the comparable week last year. Carload freight in the week totaled 312,662 cars, off 7.8 percent from last year. Volume was down 10.4 percent in the West and 4.3 percent in the East. Intermodal volume, which is

G&W: Ike Not Expected to Impact Q3 Financial Results

September 25, 2008 Railfanning.org News Wire

GREENWICH, Conn. — Genesee & Wyoming Inc. said that Hurricane Ike is not expected to have a material impact on its financial results in the third quarter of 2008. GWI’s subsidiary, Galveston Railroad, provides rail service at the Port of Galveston, which was directly struck by Hurricane Ike. Galveston Railroad’s equipment and property did not sustain significant damage from the hurricane. However, local and port-related rail service is expected to remain suspended into the fourth quarter of 2008. The suspension is not expected to have a material impact on GWI’s financial results. — Edited from PRNewswire-FirstCall

Pacific Harbor Line Becomes First All Low-Emission Railroad in U.S.

September 14, 2008 Railfanning.org News Wire

LONG BEACH, Calif. — Pacific Harbor Line Inc. said it has completed renewal of its locomotive fleet, becoming the first all low-emission railroad in the nation. All PHL locomotives now meet or exceed U.S. Environmental Protection Agency’s stringent “Tier 2” standards to reduce air pollutants. In addition to consuming less fuel, particulate and nitrogen oxide emissions have been cut by at least 70 and 46 percent, respectively, according to PHL President Andrew Fox. PHL ran the last of its older non-low emission (pre-Tier 0) locomotives in May 2008. The $30 million project enabled PHL to replace its fleet with 22

Buffalo & Pittsburgh Railroad Receives FRA Grant for Bridge Replacement Project

September 12, 2008 Railfanning.org News Wire

WASHINGTON — The Buffalo & Pittsburgh Railroad (BPRR) is receiving a $245,000 from the Federal Railroad Administration (FRA) for a railroad bridge replacement project located between Karns City and Bruin, Penn. The Chicora Bridge project will replace a 13-foot deteriorating wood pile bridge with a new concrete box culvert that will increase the capacity of the bridge to support heavier railcars. Grant funds will also be used to perform safety inspections on four other BPRR bridges along the same rail line.

Portland & Western Railroad to Use FRA Grants for Bridge and Track Work

September 12, 2008 Railfanning.org News Wire

WASHINGTON — The Federal Railroad Administration (FRA) is awarding two grants to the Portland & Western Railroad (PNWR). The first is $129,431 to supplement a larger, ongoing project to replace over eight miles of track between Willamina and Whiteson, Oregon with continuous welded rail capable of handling heavier rail car loads and accommodating higher train speeds. These federal funds will be used specifically to rehabilitate a siding and improve several highway-rail grade crossings. The PNWR is providing $32,358 in matching funds for this project. The second grant is in the amount of $1,386,766 to continue work on a project to