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BNSF surge beefs up Berkshire earnings
Omaha, Neb.-based Berkshire Hathaway, Inc. continues to reap handsome returns from its purchase of BNSF Railway. Berkshire late Monday announced that total third-quarter revenue grew 22% year-over-year to $41.1 billion,…
BNSF's Lanigan to retire, railroad names three VPs
BNSF named Steve Bobb executive vice president and chief marketing officer, with responsibility for BNSF's sales, marketing, customer service, economic development and business unit activities. He succeeds John Lanigan, who…
U.S. traffic tanks, but intermodal remains up
October's final week was not a busy one for U.S. railroads. The Association of American Railroads report for the week ending October 27, 2012, shows U.S. railroads originating 287,104 carloads,…
BNSF names Columbus & Greenville Shortline of the Year
The Columbus and Greenville Railway (CAGY), was recently named Shortline of the Year at BNSF 's annual "Shortline Conference" held last month in Irving, Texas.
Northeast freight rail service returning to normal
Freight operations in the Northeast are slowly returning to normal along the destruction path left by Hurricane Sandy.
NS announces key management changes
Norfolk Southern announced Friday that Timothy J. Drake, vice president engineering, will retire Oct. 31 and will be succeeded by Michael J. Wheeler, formerly vice president transportation. Succeeding Wheeler will be Terry N.…
U.S. freight slump hits more commodity groups
For the week ending Oct. 20, 2012, a key difference in the continuing slump in U.S. freight carload traffic is the number of commodity groups affected, according to data released…
CP touts “turnaround” as 3Q earnings beat Street
Canadian Pacific Railway Ltd. Wednesday reported third-quarter earnings of C$224 million (US$226 million), or C$1.30 per diluted share, up 20% from C$187 million, or C$1.10 a share, it notched in…
NS 3Q earnings just beat lowered Street expectations
Norfolk Southern Tuesday afternoon reported net income of $402 million, or $1.24 per diluted share, down 27% compared with $554 million, or $1.59 per diluted share, in the third quarter…
CSX marks National Gateway "midway point"
CSX Chairman, President, and Chief Executive Officer Michael J. Ward Tuesday joined federal, state, and local officials from Pennsylvania to mark the midway point of progress on the first phase…
QR National hires two North Americans
Australian railroad QR National Ltd. (QRN) has appointed two new senior executives to the company's management team, both with extensive experience in the North American railway industry.
CN notes 3Q results; sets stock repurchase plan
Canadian National Monday afternoon reported third-quarter net income of C$664 million (US$669 million), or C$1.52 per diluted share, up modestly from C$659 million, or C$1.46 per diluted share, in the…
UP 150 Express on last leg of sesquicentennial trip
Steam locomotive No. 844 is on the final leg of the UP 150 Express tour to Houston's Amtrak Station for the October 26-28 commemoration to President Abraham Lincoln's signing of the Act…
Transitions can be difficult
The death recently of A. E. (Ted) Michon reminded me just how difficult transitions can be for those who must go through them.
Employment growth slows in September, dips from August
Figures released by the Surface Transportation Board Friday show Class I railroads employed 160,428 people in mid-September, up a modest 0.12% from September 2011, but down 1.39% (95 employees) from…
KCS posts record third-quarter revenues
Despite record revenue for the third quarter, Kansas City Southern earnings of $90 million, or 82 cents per share, fell from $99.8 million, or 91 cents per share, in the…
CN to build new terminal for Bakken crude oil producers
CN and Tundra Energy Marketing Ltd., which handles crude oil on behalf of producers in the Williston Basin, including parent company Tundra Oil & Gas Partnership, have signed a memorandum…
AAR: Intermodal strong, carload volume weak
U.S. freight carload traffic for the week ending Oct. 13, 2012 remained unable to surmount 2011 levels, down 6.1% when measured against the comparable week one year ago, the Association…
Alfred E. Michon, 75
Alfred E. Michon, president of four regional railroads who also worked with both Burlington Northern (now BNSF) and Union Pacific, died Oct. 9 at age 75.
UP 3Q earnings mark “best ever” quarter
Union Pacific early Thursday reported third-quarter earnings of $1 billion, or $2.19 per diluted share, up from $904 million, or $1.85 per diluted share, in the comparable period in 2011…
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