With Railway Age since 1992, Bill Vantuono has broadened and deepened the magazine's coverage of the technological revolution that is so swiftly changing the industry. He has also strengthened Railway Age's leadership position in industry affairs with the conferences he conducts on operating passenger trains on freight railroads and communications-based train control.
In the midst of a freight traffic downturn that is significantly impacting Class I railroads, short line Morristown & Erie Railway (M&E) posted its third consecutive year of traffic increases in 2015.
Canadian Pacific’s fourth-quarter and full-year 2015 financial results were slightly below analyst expectations yet “still solid given the macro challenges,” according to Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl. “While volumes should decline in 2016, the company guided for double-digit EPS growth. We are modeling for a more conservative mid-single increase. We remain constructive in the long term but note that near-term upside may be limited.”
WSP | Parsons Brinckerhoff on Jan. 21, 2016 announced four senior management appointments in its U.S. Transportation and Infrastructure sector.
Steve Barger of KeyBanc Capital Markets attended the Midwest Association of Rail Shippers Conference, where, in conversations with railcar OEMs, lessors and shippers, he came to the general conclusion that, though 2016 will be a difficult year for the railcar industry, it is in a good position to withstand a period of weaker orders, chiefly due to a large backlog.
In the latest twist in the ongoing saga of Canadian Pacific’s increasingly hostile pursuit of a steadfast Norfolk Southern as a takeover target, CP is accusing several unnamed Class I railroads of joining forces to block the transaction, and prevailed upon its attorneys to submit a letter to the U.S. Department of Justice claiming that such actions are in violation of antitrust laws, illegal and anticompetitive.
WSP | Parsons Brinckerhoff has named Senior Vice President and National Director of Strategic Consulting John D. Porcari as President, U.S. Advisory Services.
Brandon, Manitoba-based Cando Rail Services is expanding into British Columbia with the recent purchase of an 89-acre site in Kamloops for a new terminal. The terminal will have the capacity for 1,000 railcar storage spots, in addition to providing transloading, material handling, engineering and track and mechanical services.
BNSF’s President and CEO leads a railroad that continuously sets high standards for investment, service quality, profitability and safety. Following is the complete interview, as published in the January issue of Railway Age. Click HERE to access a video of the interview. Railway Age Contributing Editor Larry Kaufman’s interview with BNSF Executive Chairman Matt Rose follows the main story.
Norfolk Southern’s Jan. 12, 2015 announcement about consolidating its Pocahontas and Virginia divisions “is notable,” and CSX is facing “continued industrial challenges,” according to Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl.
In remarks at the Midwest Association of Rail Shippers annual meeting on Jan. 13, 2015, Lance M. Fritz, President and CEO of Union Pacific, while declining to comment specifically on the proposed CP/Norfolk Southern merger, said, “I believe a Class I rail merger is not in the best interests of the rail industry and not in the best interests of our customers.” Canadian Pacific did not appreciate Fritz’s comments, and fired a shot across UP's bow.