Finance/Leasing

Communities lining Ontario’s North Shore are racing to beat an Aug. 15 deadline to preserve freight rail service on the Huron Central Railway, linking Sault Ste. Marie and Sudbury. A committee formed to implement a rescue plan says any measure would require infrastructure investment by senior levels of the provincial government.

--> Communities lining Ontario’s North Shore are racing to beat an Aug. 15 deadline to preserve freight rail service on the Huron Central Railway, linking Sault Ste. Marie and Sudbury. A…

Federal funds may provide the fiscal spark for a streetcar line in Milwaukee denied the city by state and county planners. Wisconsin U.S. Senators Herb Kohl and David Obey, both Democrats, inserted language in the recently passed $410 billion federal omnibus spending bill identifying $91.5 million for Milwaukee, with roughly $55 million (60%) of that targeted for launching a streetcar project.

--> Federal funds may provide the fiscal spark for a streetcar line in Milwaukee denied the city by state and county planners. Wisconsin U.S. Senators Herb Kohl and David Obey, both…

Three years after an initial construction attempt was aborted, the 1.3-mile Anacostia streetcar line in southeastern Washington, D.C., is nearing a construction start, according to the District Department of Transportation.

--> Three years after an initial construction attempt was aborted, the 1.3-mile Anacostia streetcar line in southeastern Washington, D.C., is nearing a construction start, according to the District Department of Transportation.
Electro-Motive Diesel Inc. plans to eliminate 347 jobs at its McCook, Ill., plant as early as April, according to a layoff notice filed with the state of Illinois. The move…

Gov. David A. Paterson Monday released the 2009 New York State Rail Plan with a "comprehensive strategy forsupporting freight and intercity passenger rail service."

--> Gov. David A. Paterson Monday released the 2009 New York State Rail Plan with a "comprehensive strategy forsupporting freight and intercity passenger rail service."

Greenbrier Cos. Inc. says it could be forced to trim expenses, and lay off more employees, if GE Railcar Services Corp. holds firm in reducing an existing delivery contract of 11,900 railcars over an eight-year period. Greenbrier said GE Railcar, a subsidiary of Fairfield, Conn.-based General Electric Co., "desires to substantially reduce, delay, or otherwise cancel railcar deliveries."

--> Greenbrier Cos. Inc. says it could be forced to trim expenses, and lay off more employees, if GE Railcar Services Corp. holds firm in reducing an existing delivery contract of 11,900…

Northern California’s Capitol Corridor Joint Powers Authority (CCJPA) says it’s prepared to target up to $98 million in federal Stimulus Package funding to 10 “shovel-ready” projects, and has the list prepared for federal officials to evaluate March 9, when CCJPA representatives will be in Washington. Total cost of the projects involved is $144 million.

--> Northern California’s Capitol Corridor Joint Powers Authority (CCJPA) says it’s prepared to target up to $98 million in federal Stimulus Package funding to 10 “shovel-ready” projects, and has the list…

Trinity Industries says it achieved “strong fourth-quarter and full-year results” in 2008, but TrinityRail’s order backlog was substantially lower at year's end.

--> Trinity Industries says it achieved “strong fourth-quarter and full-year results” in 2008, but TrinityRail’s order backlog was substantially lower at year's end.
CN has announced a public debt offering of US$550 million 5.55% notes due 2019. CN says it expects to close the financing on Feb. 25, 2009.
FreightCar America President and CEO Chris Ragot says the company expects  ”a significant reduction in railcar deliveries” in 2009, but after a strong finish in 2008 is well-positioned  to ride…
H.R. 1, the American Recovery and Reinvestment Act of 2009, contains billions of investment dollars for rail projects, passenger and freight.

Norfolk Southern’s 2009 capital spending program, totaling$1.412 billion, is the railroad's second-largest in five years. It is exceeded by 2008’s $1.556 billion, but tops expenditures of $1.341 billion in 2007, $1.178 billion in 2006, and $1.025 billion in 2005.

--> Norfolk Southern’s 2009 capital spending program, totaling$1.412 billion, is the railroad's second-largest in five years. It is exceeded by 2008’s $1.556 billion, but tops expenditures of $1.341 billion in 2007,…

Hedge funds TCI (The Children’s Investment Fund) and 3GCapital Partners won four seats on the CSX Corp. board of directors in a proxy fight last year. Now, TCI managing partner Christopher Hohn has decided not to seek re-election to the board this year and CSX has decided not to fill the vacancy, according to a filing with the Securities and Exchange Commission onFeb. 12.

--> Hedge funds TCI (The Children’s Investment Fund) and 3GCapital Partners won four seats on the CSX Corp. board of directors in a proxy fight last year. Now, TCI managing partner…
MTA Staten Island Railway’s revitalized freight operation recently took delivery of four new locomotives from Brookville Equipment Corp. Normally, domestic locomotives are delivered by rail, but the equipment move to…

Greenbrier Cos. says it will reduce its work force by roughly 150, in an effort to rein in costs during the current economic recession.

--> Greenbrier Cos. says it will reduce its work force by roughly 150, in an effort to rein in costs during the current economic recession.
Dahlman Rose & Co. Director Equity Research and Railway Age Contributing Editor Jason Seidl sees “as a glimmer of hope in an otherwise weak rail environment” as some traffic sectors…
Economic Planning Associates sees 2009 and 2010 as “difficult” years for the freight railcar industry, based on the economic and financial environments as well as EPA’s analyses of customer market…
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