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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…
Hillary and Trump, are you paying attention to us?
Hey, Mr. Trump! Yeah you! The guy with the odd orange hairdo. You interested in supporting an American industry that invests billions of private capital, building worthwhile things, instead of…
WA CBR notification system starts October 1
Responding to the Washington Council of Fire Fighters and other first responders, Washington State adopted a new rule, Chapter 173-185 WAC, Oil Movement by Rail and Pipeline Notification, “to enhance…
STB issues NPRM on small rate disputes after shipper feedback
The Surface Transportation Board released August 31 an Advance Notice of Proposed Rulemaking (ANPR), which considers a new, streamlined procedure to resolve small rate disputes between shippers of all commodities…
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