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R.J. Corman completes buy of TSE Railroad
R. J. Corman Railroad Company/Texas Lines LLC late Tuesday, Sept. 2, 2014 announced the purchase of the assets of Texas Southeastern Railroad (TSE), previously a subsidiary of Georgia-Pacific LLC.
Rail revenue adequacy? Well, sort of
The Surface Transportation Board (STB) ruled Sept. 2 that five Class I railroads—BNSF, U.S. affiliates of Canadian National and Canadian Pacific, Norfolk Southern and Union Pacific—are revenue adequate. That is,…
STB: Five Class I's revenue adequate in 2013
The Surface Transportation Board announced Tuesday, Sept. 2, 2014, that it has found five U.S. Class I railroad properties to be "revenue adequate for the year 2013, meaning that five…
Mitsui Rail Capital promotes Penovich, Gerber
Mitsui Rail Capital, LLC (MRC) has promoted Daniel Penovich to President and Chris Gerber to Vice President of Sales and Marketing. Both MRC executives have extensive experience with MRC as…
Two-thirds of Research Triangle in on LRT
Light rail transit plans got the backing of officials in Durham and Orange counties, N.C., on Wednesday, Aug. 13, 2014, setting the stage for a concerted effort to secure federal…
County authority to oversee Santa Ana streetcar
The fate of Santa Ana, Calif.'s proposed streetcar project may rest with the Orange County Transportation Authority (OCTA), which may assume responsibility for the effort as early as Monday, Aug.…
MTA: Second Avenue Subway, second phase, please
Signaling a commitment to continued subway expansion, Metropolitan Transportation Authority CEO and Chairman Thomas Prendergast has requested funding for Phase 2 of New York City Transit's Second Avenue Subway, long…
Good 2Q for BNSF
BNSF Railway, wholly owned by Omaha-based Berkshire Hathaway, Inc., has reported second-quarter net income of $916 million, up 4% from $884 million in the comparable quarter of 2013.
Tanks, hoppers drive ARI record 2Q 2014 financials
Based largely on an increase in demand for its tank cars and hopper cars, American Railcar Industries, Inc. (ARI) on July 30, 2014 reported record earnings and revenues for second-quarter 2014.
Trinity posts impressive 2Q 2014 financials
Riding high on a record backlog of freight car orders, Trinity Industries reported second-quarter earnings per common diluted share of $1.01—a 94% increase year-over-year—and quarterly revenue and net income of…
New York MTA facing $12 billion capital shortfall
The New York Metropolitan Transportation Authority, which accounts for approximately 25% of all rail transit spending in the U.S., is staring at a potential $12 billion shortfall in its proposed…
Analysts, legal and financial experts weigh in on DOT’s HHFT NPRM
The Notice of Proposed Rulemaking issued by the U.S. DOT for HHFTs (High-Hazard Flammable Trains) hauling crude oil and other commodities the DOT deems hazardous in tank cars has produced…
“Record results” for Wabtec in 2Q
Wabtec Corp. on Thursday, July 24, 2014, reported "record results" for its second quarter.
UP 2Q results beat the Street
Union Pacific said Thursday, July 24, 2014 its second-quarter net earnings rose 17%, to $1.29 billion, or $1.43 per share, measured against $1.11 billion, or $1.18 per share, in the…
Norfolk Southern notches record second quarter
Norfolk Southern Corp. early Wednesday, July 23, 2014 reported "record net income" of $462 million, or diluted earnings per share of $1.79, in the second quarter. Those marks were 21%…
CN 2Q earnings show strength
Rebounding from a first quarter hampered by what its CEO called the "winter of a lifetime," CN late Monday, July 21, 2014 reported second-quarter net income of C$847 million (US$789…
GBW Railcar Services marks official launch
The Greenbrier Cos., Inc. and Watco Cos. LLC announced Monday, July 21, 2014, that they "have completed formation of their 50/50 railcar repair joint venture creating the largest independent railcar…
RSI: 2Q railcar orders, deliveries flex muscle
The Railway Supply Institute on Friday, July 18, 2014, released its railcar industry order, delivery, and backlog statistics for the second quarter, with the data showing strong growth, which one…
KCS reports strong 2Q results
Kansas City Southern early Friday, July 18, 2014, reported higher second-quarter net income and revenue, which it said was powered by strong agriculture and automotive shipments.
CP touts “strongest financial results” in 2Q
Canadian Pacific early Thursday, July 17, 2014, reported second-quarter net income of C$371 million (US$345 million), or C$2.11 (US$1.96) per diluted share, a record for the second quarter, and up…
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