Douglas John Bowen

Douglas John Bowen

Douglas John Bowen is Managing Editor of RAILWAY AGE. He also served as Editor of Intermodal Age from 1989 to 1991, and has held various positions at Inbound Logistics magazine, High Speed Transport News, The Journal of Commerce, and CNN/Money. Bowen began his journalism career at the Asbury Park Press, a New Jersey daily newspaper. A graduate of Rutgers University, Bowen resides in Hoboken, N.J. He served as president of the New Jersey Association of Railroad Passengers (NJ-ARP) from 1987 to 2000 and again from 2004 to 2010, serving on the NJ-ARP board from 1984 until 2012; he remains a member of the statewide organization.

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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.

Wednesday, 24 October 2012 09:37

Toronto subway extension faces delay

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.

Tuesday, 23 October 2012 10:20

Iowa Pacific acquires Cape Rail, Inc.

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.

Tuesday, 23 October 2012 10:09

CSX marks National Gateway "midway point"

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.

Wabtec Corp. early Tuesday reported third-quarter earnings per diluted share of $1.30, up 35% from 96 cents per share in the third quarter of 2011 and a penny above Wall Street consensus estimates. Net income attributable to Wabtec shareholders increased to $62.99 million from $46.60 million a year ago. The company's third-quarter sales of $588 million was up 18% from the year-ago quarter.

Canadian National Monday afternoon reported third-quarter net income of C$664 million (US$669 million), or C$1.52 per diluted share, up modestly from C$659 million, or C$1.46 per diluted share, in the third quarter of 2011. The results were in line with Wall Street consensus estimates of C$1.52 per share.

Monday, 22 October 2012 09:54

D.C. readies streetcar tests

Streetcar tests are slated to start this winter in Washington, D.C.'s Southeast, specifically in Anacostia along S. Capitol Street, according to the District Department of Transportation (DDOT). But a revenue service startup date is still uncertain.

Figures released by the Surface Transportation Board Friday show Class I railroads employed 160,428 people in mid-September, up a modest 0.12% from September 2011, but down 1.39% (95 employees) from August 2012.

Erie, Pa.-based GE Transportation notched revenue of $1.4 billion in the third quarter, up 9% from the same period a year ago, and a profit of $265 million, up 35% from $197 million in the third quarter of 2011.

Friday, 19 October 2012 10:06

KCS posts record third-quarter revenues

Despite record revenue for the third quarter, Kansas City Southern earnings of $90 million, or 82 cents per share, fell from $99.8 million, or 91 cents per share, in the comparable quarter in 2011, due in part to a higher Mexican tax bill affecting its Kansas City Southern de Mexico operations.

Friday, 19 October 2012 09:23

Delaware NEC third track project commences

Delaware state and federal representatives, the Delaware Department of Transportation, and Amtrak on Thursday marked the ceremonial start of adding a 1.5-mile third track on Amtrak's Northeast Corridor just south of Wilmington.

Friday, 19 October 2012 08:55

ARCI reports decline in railcar orders

Orders and deliveries of railcars declined in the third quarter, according to statistics released by the Railway Supply Institute's American Railway Car Institute (ARCI) Committee.

Thursday, 18 October 2012 10:56

AAR: Intermodal strong, carload volume weak

U.S. freight carload traffic for the week ending Oct. 13, 2012 remained unable to surmount 2011 levels, down 6.1% when measured against the comparable week one year ago, the Association of American Railroads said Thursday. U.S. intermodal volume, for its part, maintained its own positive momentum, up 2.6% for the week compared with 2011.

Thursday, 18 October 2012 10:02

GATX reports rise in 3Q profit, beats Street

Chicago-based GATX Corp. Thursday reported third-quarter net income of $53.8 million, or $1.13 per share, up from $32.9 million or 70 cents per share in third quarter of 2011. Both the 2012 and 2011 third-quarter results include benefits from tax adjustments and otther items of $18.2 million and $1.3 million, respectively.

Thursday, 18 October 2012 09:10

Alfred E. Michon, 75

Alfred E. Michon, president of four regional railroads who also worked with both Burlington Northern (now BNSF) and Union Pacific, died Oct. 9 at age 75.

Thursday, 18 October 2012 07:43

UP 3Q earnings mark “best ever” quarter

Union Pacific early Thursday reported third-quarter earnings of $1 billion, or $2.19 per diluted share, up from $904 million, or $1.85 per diluted share, in the comparable period in 2011 and in line with Wall Street consensus estimates of $2.19 per share.

Thursday, 18 October 2012 07:17

Bombardier wins MARC operations contract

Maryland's Board of Public Works has awarded Bombardier Transportation a six-year, $204.7 million contract to operate MARC's Camden and Brunswick passenger rail lines. A five-year renewal option worth $205 million is part of the package.

Exhibition sponsorship opportunities will be available for the first time at Railway Interchange 2013, the combined exhibition and technical conference, according to event organizers. Railway Interchange 2013 will take place Sept. 29-Oct. 3, 2013, in Indianapolis. 

Wednesday, 17 October 2012 11:03

NS Alabama intermodal facility opens

Norfolk Southern CEO Wick Moorman and Alabama Gov. Robert Bentley joined federal, state, and local officials and business leaders Wednesday in McCalla, Ala., to mark the opening of the Birmingham Regional Intermodal Facility.

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