Railway Age News
Core pricing gains helped Union Pacific achieve 9% earnings per share growth in the first quarter of 2015, but EPS would have been stronger had a sharp drop in volume not occurred. One effect: The 2015 capital program has been cut by $100 million, to approximately $4.2 billion, a 3% reduction.
As part of Norfolk Southern’s ongoing program of executive development and in support of its efforts to reduce its environmental footprint and expand its market opportunities, Bruno Maestri and Robert E. Martínez will assume additional responsibilities, following the retirement of Vice President Real Estate and Corporate Sustainability officer F. Blair Wimbush. The changes are effective May 1, 2015.
Senators Charles Schumer (D-N.Y.) and Richard Blumenthal (D-Conn.) (collectively called “Schumenthal” by some critics—Editor) have introduced their version of a Positive Train Control (PTC) extension bill that joins a similar effort introduced by Sen. Roy Blunt (R-Mo.).
Canada’s Ontario Province will be covering the entire cost of a 14.2-mile, $1.6 billion light rail line connecting the Port Credit (Mississauga) and Brampton GO Transit regional/commuter rail stations, Transportation Minister Steven Del Duca confirmed on April 21, 2015.
Building upon the momentum established when E. Hunter Harrison, Railway Age’s2015 Railroader of the Year, was appointed CEO, Canadian Pacific Railway posted the lowest first-quarter operating ratio in the company’s history and the highest-ever net income for the period.