Latest News Continued
Greenwich, Conn.-based Genesee & Wyoming Inc. Tuesday reported fourth-quarter net income of $19.9 million, or 47 cents per diluted share, up almost 9% from $18.3 million, or 44 cents per diluted share, in the comparable quarter of 2009. ...

Speaking at Amtrak’s 30th Street Station in Philadelphia Tuesday, Vice President Joe Biden outlined three channels of development. “Core Express” will develop electrified trains operating at 125 mph to 250 mph, running on tracks dedicated to passenger service. “Regional” will develop 90 mph to 125 mph service (HrSR), an incremental step toward true HSR. “Emerging” will develop reliable train service in regions that are underserved, increasing access to the larger national intercity passenger rail network.

The President’s proposal received support Tuesday in a joint statement from U.S. Chamber of Commerce President and CEO Thomas J. Donohue andAFL-CIO President Richard Trumpka.

Also praising the measure was the National Association of Railroad Passengers. “It is extremely heartening that the White House has the clarity of vision to propose this groundbreaking program in the face of recent narrowly-based attacks on high speed rail in the U.S.,” said NARP President Ross Capon. “If we are to develop a modern transportation system that gives Americans the travel choices they need and cut our reliance on foreign oil, we need our leaders to show this steadfast determination to get the job done.” --> President Obama is advocating a six-year, $53 billion investment in high speed rail (HSR) as part of his thrust to use infrastructure spending to create jobs. The President will call for an initial $8 billion HSR investment in the budget he is set to release next week. ...
BNSF Railway on Monday announced a planned 2011 capital program of $3.5 billion. It includes $450 million to acquire 227 locomotives and $350million for new freight cars and other equipment. ...
New Jersey Transit has awarded a contract to ARINC Inc. to provide a new central control system for Newark Light Rail operations. ...

New Jersey’s two U.S. Senators joined Amtrak President Joseph Boardman Monday in Newark, N.J. to advance a plan, this time led by Amtrak and dubbed the “Gateway Tunnel,” to increase capacity on the Northeast Corridor under the Hudson River.

Ports of Indiana, operator of the Port of Indiana-Burns Harbor on Lake Michigan, has selected Norfolk Southern as the port’s exclusive provider of onsite rail-switching service. ...
07 February 2011

Analyst: Class I

Following strong fourth-quarter and full-year 2010 financial reports, Class I railroads “remain compelling investments,” say Morgan Stanley & Co. Inc. transportation analysts William Greene, John Godyn, Adam Longson, and Elizabeth Thys. This is due to several factors: &b ...
Nordco Inc. has merged its Nordco Rail Services and Dapco Industries subsidiaries into a single business unit called Nordco Rail Services & Inspection Technologies. The restructured company “ offers the North American railroad industry a full spectrum of ultrasonic rail-flaw detection ...
U. S. railroads reported 705 fatalities in 2010, up 9.5% from the 645 reported in 2009, according to a preliminary count released by the Federal Railroad Administration’s Office of Safety Analysis. ...
New York City has awarded a $250,000 contract to Parsons Brinckerhoff to quickly study the potential of extendin the city subway’s No. 7 line from Manhattan’s West Side under the Hudson River to Secaucus, N.J. ...
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