Berkshire Hathaway has reported that operating earnings for the second quarter and first six months of 2010 increased 72.7% and 52.0% from the comparable periods in 2009.
“BNSF was the major contributor adding $885 million to net earnings since our acquisition on Feb. 12, 2010, including $603 million during the second quarter,” said the company in an earnings statement released Aug. 6. Another major reason for the improvement occurred at NetJets with a swing from a pre-tax loss of $348.5 million in the first six months of 2009 to a pre-tax profit of $114.5 million in 2010.
Berkshire paid $26.5 billion in February for the share of BNSF it did not already own.
Association of American Railroads praised the
introduction of the Freight Rail Infrastructure Capacity Expansion Act of 2010
(S.3749) by Senators Kent Conrad (D-N.D.) and John Ensign (R-Nev.). This
bipartisan measure is aimed at encouraging private capital investments that can
generate tremendous public benefits through expanded rail network capacity
needed for moving more people and goods by rail.
The Port of Quebec, a
terminal operator at the port and CN announced today a service arrangement that
will reduce transit times for shipments destined to Toronto to 38 hours from 53
hours, an improvement of almost 30 per cent. The improvement resulted from the
port and terminal operator agreeing to more consistent release times for
shipments and CN adjusting schedules to expedite the movement of traffic over
its network between Quebec City and Toronto.
The Federal Railroad
Administration plans to assess the potential to construct a large solar
photovoltaic array at its Transportation Technology Center, a railway testing
site in Colorado, Sunpluggers.com, The Solar Home & Business Journal
At its monthly meeting, the
Port Authority of New York and New Jersey Board of Commissioners authorized an
option under the PATH Railcar procurement contract with Kawasaki Rail Car Inc.,
to purchase 10 additional PA-5 railcars at a total cost of $15 million.
Consolidated sales for Koppers
Holdings Inc. in the second quarter of 2010 were 12% higher than sales in the
prior year quarter. Sales for Carbon Materials and Chemicals (CM&C)
increased by 30%, or $47.5 million over the prior year quarter, which was
partially offset by lower sales for Railroad and Utility Products (R&UP),
which decreased nine percent, or $12.0 million. The increase in sales in
CM&C was due to higher volumes for carbon materials and higher volumes and
prices for coal tar chemicals. R&UP sales were lower due to lower volumes
of untreated crossties, as reduced buying patterns by the Class I railroads in
the first quarter due to unfavorable weather continued into the second quarter
as some of the railroads have been reducing inventory levels.
Transportation, together with consortium partner, Vossloh Kiepe, signed an
option to supply an additional 14 BOMBARDIER FLEXITY Swift light rail vehicles
to Greater Manchester Passenger Transport Executive's (GMPTE's) Metrolink
system. This option forms part of the contract signed with GMPTE in April 2007 and
is valued at $43 million U.S. with Bombardier's share amounting to approximately $32
of American Railroads announced that U.S. railroads reported the highest
traffic levels of 2010 for both carload and intermodal traffic for the week
ending July 31, up 9.4% the from same week in 2009 but down 10.65% from the
same week in 2008. U.S railroads originated 300,292 carloads for the week, and
intermodal traffic totaled 232,895 trailers and containers,
New England Passenger Rail Authority (NNEPRA) has awarded L.B. Foster Co. a
$5.3-million contract to supply 5,561 tons of rail for the Downeaster-Portland
North Project. NNEPRA is using a $35-million grant from the American Recovery
and Reinvestment Act to help pay for the 26.4-mile track rehabilitation and
expansion between Portland and Brunswick, Maine. The new Downeaster line will
provide improved Amtrak service within the area and south to Boston.
America, Inc has reported second quarter 2010 revenues of $31.0 million and a
net loss of $1.3 million, or 11 cents a share. This compares with revenues of
$104.3 million and net income of $7.0 million, or 59 cents per a share, in
second quarter 2009.