FreightCar America President and CEO Chris Ragot says the company expects ”a significant reduction in railcar deliveries” in 2009, but after a strong finish in 2008 is well-positioned to ride out the downturn.
Acela Express fares up to 25% lower than the lowest previous fares are available now for travel between March 3 and June 26, Amtrak announced Tuesday.
Electro-Motive Diesel, Inc. (EMD) has launched two websites in India, one of the locomotive manufacturer’s fastest-growing markets.
Systra SA has appointed Diego Diaz as SYSTRA USA’s new president CEO, effective immediately.
H.R. 1, the American Recovery and Reinvestment Act of 2009, contains billions of investment dollars for rail projects, passenger and freight.
As Congress tinkered last week with final details of the proposed Stimulus Package, some transportation analysts lamented that funding for all rail modes totaled only 2% of the $787 billion plan.
The American Public Transportation Foundation, which provides scholarships for young professionals pursuing careers in public transportation, is in the midst of a fundraising drive. APTF’s goal is to raise $5,000 during the month of February.
Norfolk Southern’s 2009 capital spending program, totaling$1.412 billion, is the railroad's second-largest in five years. It is exceeded by 2008’s $1.556 billion, but tops expenditures of $1.341 billion in 2007, $1.178 billion in 2006, and $1.025 billion in 2005.
Hedge funds TCI (The Children’s Investment Fund) and 3GCapital Partners won four seats on the CSX Corp. board of directors in a proxy fight last year. Now, TCI managing partner Christopher Hohn has decided not to seek re-election to the board this year and CSX has decided not to fill the vacancy, according to a filing with the Securities and Exchange Commission onFeb. 12.
Freight traffic on U.S. railroads during the week ended February 7 was off again in comparison with last year, although “up slightly” from the previous week ending Jan. 31, according to the Association of American Railroads. Total volume of 28.2 billion ton-miles was 15.1% lower than the comparable week in 2008.