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Drink up: new rail trade association forms
The Private Railcar Food and Beverage Association, Inc. (PRFBA) announces its formal creation, comprised of 13 global food and beverage companies and manufacturers headquartered in North America.
CN named to Dow Jones Sustainability Indexes
CN has been named to the Dow Jones Sustainability Index (DJSI) World Index for the fifth consecutive year and to the DJSI North America Index for the eighth consecutive year.
First time to the legislative table: NS, Amtrak and PennDOT in Pittsburgh
The Pittsburgh Downtown Partnership has released its testimony from a Aug. 23 hearing regarding increasing rail service to western Pennsylvania. “I think it’s one of the first times that Amtrak,…
STB: Four Class I's revenue-adequate in 2015
The Surface Transportation Board (STB) on Sept. 8, 2016 announced its annual determination of revenue adequacy for U.S. Class I freight railroads for 2015. Of the "Big Seven" (five U.S.…
CFO change at CP
Canadian Pacific announced Sept 8, 2016 that Executive Vice President and Chief Financial Officer Mark Erceg has resigned, effective immediately, to join a U.S. company. Nadeem Velani has been appointed…
"Commentary remains cautious"
The economy remains “tepid” and surface transportation companies “remain focused on controlling costs, limiting capex and searching hard for growth opportunities,” according to Cowen and Company Managing Director and Railway…
CSX updates third-quarter guidance
CSX Corporation Executive Vice President and Chief Financial Officer Frank Lonegro updated investors and analysts on Sept. 7, 2016 at the Cowen and Company 9th Annual Global Transportation Conference in…
AAR: Excluding coal, August carloads down only 1%
The Association of American Railroads (AAR) released August monthly figures with this nugget: Exclude coal, and the industry's carloads were down only 1% in August 2016 from August 2015, or…
Elliott to Congress: Revenue adequacy will have to wait
In a Sept. 1, 2016 monthly progress report letter to the Senate Commerce Committee, House Transportation & Infrastructure Committee, Senate and House transportation appropriations committees and all relevant subcommittees, Surface…
Ackman bails from CP board
Approximately one month after billionaire hedge fund manager Bill Ackman dumped all his shares in Canadian Pacific Railway Ltd. and walked away with an estimated $1.5 billion to pursue other…
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