Iowa Pacific Holdings, LLC and the Adirondack Rail Preservation Society (ARPS) have reached a Memorandum of Understanding to establish tourist passenger service on the Adirondack Railroad, linking its namesake state park in upstate New York to New York City with Pullman sleeping car service.
For the week ending Oct. 20, 2012, a key difference in the continuing slump in U.S. freight carload traffic is the number of commodity groups affected, according to data released Thursday by the Association of American Railroads.
American Railcar Industries, Inc. late Wednesday reported third-quarter net earnings of $14 million, or 66 cents per share, which ARI said was "a new quarterly record," and up dramatically from $4 million, or 19 cents a share, in the third quarter of 2011.
Studies suggest that new sports arenas, or relocation of professional sports teams, don't really benefit or bolster a local economy. Perhaps, instead, they reflect the locale's existing health. So it seems for Brooklyn (Brooklyn is back!), in three years to be home to the National Hockey League's New York Islanders. But an underlying reason—in this case, literally under—is the superior rail access.
The Anaheim, Calif., City Council, in a split 3-2 vote, has advanced a 3.2-mile streetcar plan that would serve, among other points, the original Disneyland.
Canadian Pacific Railway Ltd. Wednesday reported third-quarter earnings of C$224 million (US$226 million), or C$1.30 per diluted share, up 20% from C$187 million, or C$1.10 a share, it notched in the third quarter of 2011. That surpassed Wall Street consensus expectations of C$1.23 per share.
A Toronto Transit Commission report prepared Oct. 10, scheduled to be released Wednesday during a TTC meeting, says the TTC's Toronto-York Spadina subway extension will be completed about one year behind schedule, moving the opening date back to roughly autumn, 2016.
Norfolk Southern Tuesday afternoon reported net income of $402 million, or $1.24 per diluted share, down 27% compared with $554 million, or $1.59 per diluted share, in the third quarter of 2011. But earnings per share surpassed by one penny Wall Street consensus analysts' latest target of $1.23 per share.
Chicago-based Iowa Pacific Holdings, LLC Tuesday announced its acquisition of a controlling interest in Cape Rail, Inc., and its subsidiaries, Massachusetts Coastal Railroad, LLC and Cape Cod Central Railroad.
CSX Chairman, President, and Chief Executive Officer Michael J. Ward Tuesday joined federal, state, and local officials from Pennsylvania to mark the midway point of progress on the first phase of projects for the National Gateway, the $850 million public-private partnership designed to improve freight rail traffic flows between the Midwest and the East Coast.