The Chicago Transit Authority on Monday, Oct. 28, 2013, objected strongly to a downgrade of its credit rating made last week by Moody's Investors Service.
The back-and-forth decision-making involving the fate of Toronto's Scarborough Line rehabilitation has cost Ontario at least C$68 million (US$65 million) in contract costs, including penalties, claimed by Bombardier Transportation, a Bombardier spokesman told Railway Age Monday, Oct. 28, 2013.
Wabtec Corp. said Sunday, Oct. 27 , 2013 Patrick D. Dugan has been named executive vice president and chief financial officer effective Jan. 1, 2014. Dugan will succeed Alvaro Garcia-Tunon, who is retiring, though Garcia-Tunon will remain with the company as a strategic adviser.
The Alaska Railroad Board of Directors has named Bill O'Leary President and CEO of the Alaska Railroad, succeeding Chris Aadnesen. O'Leary will start in his new position this Friday, Nov. 1, 2013.
Right-of-way used by Ohio short line Youngstown & Southern Railroad (Y&SR), currently owned by the Columbiana County Port Authority (CCPA), may soon be sold to Mule Sidetracks LLC, a noncarrier, for an estimated $3 million.
Bicycles will be allowed aboard BART trains at all times, including rush hours, following a unanimous vote Thursday, Oct. 24, 2013 by the BART Board of Directors to lift existing restrictions.
Pershing Square Capital Management founder William Ackman reportedly is selling roughly US$800 million of his investment in Canadian Pacific Railroad, or roughly 5.9 million shares.
Dallas Area Rapid Transit (DART) has selected Blue Alliance Partners (BAP) as lead designer for the $101 million South Oak Cliff Extension 3 project, an extension of DART’s Blue Line light rail transit system. BAP is a joint venture of HNTB and Dikita Enterprises, Inc.
North America’s largest railroads saw gains in both freight carload traffic and intermodal volume during the week ending Oct. 19, 2013, the Association of American Railroads reported Thursday, Oct. 24.
Wilmerding, Pa.-based Wabtec Corp. reported Thursday, Oct. 24, 2013 third-quarter earnings of $73.9 million, or 76 cents per share, up about 17% from $63 million, or 65 cents per share, in the same period a year ago. Revenue was also up 8% to $631.4 million in the quarter compared with $587.6 million in the third quarter of 2012.
Chicago-based GATX Corp. Thursday, Oct. 24, 2013 reported third-quarter net income of $53.8 million, or $1.15 per diluted share, compared with net income of $53.8 million, or $1.13 per diluted share, in the third quarter of 2012.
Houston's North Rail Line will open for service on Dec. 21, 2013, according to Metropolitan Transit Authority of Harris County officials addressing a luncheon held by the Greater Houston Partnership Tuesday, Oct. 22.
Norfolk Southern Wednesday, Oct. 23, 2013 reported third-quarter net income of 482 million, up 20% from the $402 million reported in the third quarter of 2012. Diluted earnings per share were $1.53, up 23% compared with $1.24 per diluted share in comparable quarter last year.
Canadian Pacific early Wednesday, Oct. 23, 2013, reported third-quarter net income of C$324 million (US$312.5 million), or C$1.84 (US$1.77) per diluted share, noting it was a record. Results beat CP's 3Q12 income of C$224 million or C$1.30 per share.
CN on Tuesday, Oct. 22, 2013, reported third-quarter net income of C$705 million (US$685 million), or C$1.67 (US$1.62) per diluted share, up about 6% from C$664 million, or C$1.52 per diluted share, in the same quarter of 2012.
Management and union negotiators reached a deal late Monday, Oct. 21, 2013 to end the four-day strike affecting BART service in the San Francisco Bay area.
Thirteen cars on a CN train moving oil and propane through Alberta have derailed, with one car exploding and others nearby catching fire last Saturday, with a "controlled burn" still in effect Monday morning, Oct. 21, 2013, to limit the threat. No injuries had been reported Monday, and none were anticipated.
The Railway Supply Institute's American Railway Car Institute (ARCI) Committee on Friday, Oct. 18, 2013, released its railcar industry order, delivery, and backlog statistics for the third quarter, with tank cars and covered hopper cars continuing to account for most activity.
A strong backlog of manufactured goods orders, including locomotives and jet engines, helped drive third-quarter earnings for Fairfield, Conn.-based General Electric Co., which reported financial results Friday, Oct. 18, 2013.
Six months of labor negotiations between BART employees and management failed to yield enough agreement to avoid a strike, with BART workers walking off the job Friday, Oct. 18, 2013, just after midnight, Pacific Time.