Latest News Continued

When Amtrak partnered with IMAGES USA to create a television commercial targeting the Hispanic community, the strategy was clear—produce a culturally relevant, Spanish-language commercial showcasing the unique on-board benefits of train travel in order to increase brand awareness among Hispanic consumers.

--> ...
Union Pacific on Oct. 18 celebrated the opening of its 785-acre Joliet Intermodal Terminal, which it said  “increases international and domestic container capacity while improving rail traffic efficiencies througho ...
The Kansas Department ofTransportation announced Oct. 18 that an agreement for a $35 million grant to BNSF from the state’s Rail Assistance Program has been finalized. BNSF announced simultaneously that it has selected T.J. Lambrech ...
Surface Transportation Board Commissioner and former Chairman Charles D. Nottingham said that he will not seek a second term on the Board when his current term expires Dec. 31. ...
Donald M. Itzkoff, a nationally recognized rail policy expert with 25 years of experience in transportation and technology issues, has joined the executive staff of GE Transportation as Executive Counsel, Public Policy and Government Relations for North America, effective Oct. 25, 2010. He will b ...
Tidal waves, earthquakes, hurricanes, tornadoes, towering infernos, comets and asteroids hurtling toward Earth, railroads: All make good fodder for violence-filled action movies. Yes folks, another runaway train movie will soon open in theaters everywhere. This one’s sure to inspire confid ...

In a 17-page filing submitted Wednesday, Oct. 13, the United Spinal Association, a non-profit group, charged New York’s Metropolitan Transportation Authority with advancing “a major renovation of Dyckman Street Station, and to spend many millions of dollars doing so, without doing the disability access work that would allow people with disabilities and seniors to actually use the facility.”

mta_logo.jpg

MTA is arguing that the subway station, located on the No. 1 line in northern Manhattan, is not a key transfer station nor a top 100 “key”station required to be complaint with the Americans with Disabilities Act by2020, as measured by ridership. MTA also says it cannot fully fund theimprovements sought by the association, including elevator access, alluding to the “unfunded mandate” levied by Congress.

But the association filing counters, “Federal law requires that when alterations are made to an existing transit facility, at least 20% of the cost of the alterations must be spent on making the altered facility accessible to and usable by people with disabilities … ”

MTA last July began work on the $47 million rehabilitation project, which includes platform replacement and track replacement.

 

--> In a 17-page filing submitted Wednesday, Oct. 13, the United Spinal Association, a non-profit group, charged New York’s Metropolitan Transportation Authority with advancing “a major renovation of Dyckman Street Station, and to spend many millions ...

A refinancing agreement between the U.S. government and Amtrak will save taxpayers approximately $162 million, the U.S. Departments of Transportation and Treasury jointly announced Friday.

amtrak_logo.jpg

During the course of its 39-year existence, Amtrak has incurred a large amount of debt paid by the government through an annual appropriation to the national passenger railroad.  The Passenger Rail Investment and Improvement Act of 2008 (PRIIA) permitted the Treasury Department to study ways to repay or restructure Amtrak’s debt that would save money for the taxpayer and the railroad, and to take action on its findings if this would produce substantial savings.

Friday’s announcement is based on the government’s findings. Under the terms of the Memorandum of Understanding, the government will exercise early buyout options on 13 existing high-cost leases during the next three years. The $420 million upfront cost will save approximately $582 million in future payments, in effect saving the taxpayer approximately $162 million.

“This announcement is good for taxpayers and important for the future of rail service in America,” said Treasury Secretary Tim Geithner. “Refinancing these leases will save taxpayers money while continuing the President's vision of improving passenger rail service across the country at a lower cost."

ray_lahood.jpg

“This is a great opportunity to help Amtrak and save money for the taxpayer,” said Transportation Secretary Ray LaHood (pictured at right). “These savings also represent funds that could be used to support the development of high speed rail,” he said, referring to U.S. HSR and higher speed rail (HrSR) efforts. 

Amtrak revenue increased 9% in fiscal year 2010, which ended Sept. 30, compared with the previous fiscal year. Ridership, up 5.7%, was 28.7 million, matching its FY08 total; ridership is up nearly 37% since fiscal year 2000.
  

--> A refinancing agreement between the U.S. government and Amtrak will save taxpayers approximately $162 million, the U.S. Departments of Transportation and Treasury jointly announced Friday. ...

U.S. freight carload traffic rose 8.8% for the week ending Oct. 9, compared with the same week in 2009, the Association of American Railroads said Thursday.

aar_logo.jpg

Fifteen of the 19 carload commodity groups increased from the comparable week in 2009, with metallic ores posting the most significant gain, up 199.7%. Non-metallic minerals, down 18.9%, registered the largest decline for the week.

U.S. intermodal traffic rose 13.1% compared with a year ago; container volume gained 14.1%, while trailer volume rose 7.4%.

Canadian freight carload traffic rose 10.9% from last year’s levels, while intermodal advanced 15.1%.  Mexican freight carload traffic rose 16.2% from the same week last year, while intermodal increased 14.9%.

Combined North American freight carload volume for the first 40 weeks of 2010 on 13 reporting U.S., Canadian, and Mexican railroads was up 9.8% from the comparable period in 2009, while intermodal rose 15.1%.

AAR said it “will no longer report 2010 weekly rail traffic with comparison weekly data in 2008, since October 2008 marked the beginning o fthe recession-related downturn in rail traffic.”

 

--> U.S. freight carload traffic rose 8.8% for the week ending Oct. 9, compared with the same week in 2009, the Association of American Railroads said Thursday. ...

CSX late Tuesday reported a third-quarter profit of $414 million, or $1.08 per share, 42.8% better than the $290 million, or 73 cents per share, it notched in the comparable 2009 quarter. It also beat Wall Street consensus estimates of $1.04 a share. Shares of CSX were up more than 4% in trading on the New York Stock Exchange late Wednesday morning, and held a 4.7% gain in mid-afternoon activity.

Third-quarter revenue rose 16% to $2.67 billion, up from last year’s third-quarter sales of $2.29 billion.

mike_ward.jpg

“As the economy continued to improve, CSX saw volume growth in nearly all markets while delivering another strong performance in safety, service, and productivity,” said CSX Chairman, President, and CEO Michael J. Ward (pictured at left) in a statement. “These positive financial results are enabling the company to increase investments that create competitive advantages for customers, grow the business, create jobs, and deliver shareholder value.”

CSX said it plans to increase capital investment to about $1.8 billion, up from the previously announced $1.7 billion. CSX also said it will buy back $646 million in shares by the end of the first quarter in the new fiscal year.

 

--> CSX late Tuesday reported a third-quarter profit of $414 million, or $1.08 per share, 42.8% better than the $290 million, or 73 cents per share, it notched in the comparable 2009 quarter. It also beat Wall Street consensus estimates of $1.04 a share. Shares o ...
436
Page 436 of 624