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Iowa Pacific acquires Cape Rail, Inc.
Chicago-based Iowa Pacific Holdings, LLC Tuesday announced its acquisition of a controlling interest in Cape Rail, Inc., and its subsidiaries, Massachusetts Coastal Railroad, LLC and Cape Cod Central Railroad.
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…
STB: NS and UP "revenue adequate" in 2011
The Surface Transportation Board announced Wednesday its determination that two of the five major U. S. freight railroads, Norfolk Southern and Union Pacific, were "revenue adequate" in 2011. This means that their…
GWI completes RailAmerica acquisition
Genesee & Wyoming Inc. Monday said it has completed its acquisition of RailAmerica, Inc., and also "entered into a new five-year Senior Secured Credit Facility comprised of a $1.875 billion…
STB to Berkshire Hathaway: Divest two railroads
The Surface Transportation Board has directed BNSF Railway's parent, Berkshire Hathaway, to "promptly remedy its noncompliance with railroad control requirements" stemming from its acquisition of BNSF in 2010.
August employment down from July
Class I railroad employment totaled 161,134 in August, down 0.54% from July, though maintaining an edge of 0.64% over August 2011, according to figures released Thursday by the Surface Transportation Board.
Rail cost of capital rises to 11.57%
The Surface Transportation Board announced Friday that it had determined the railroad industry's after-tax cost of capital for 2011 to be 11.57%, compared with 11.03% for the prior year.
STB keeps rate-case fees low
The Surface Transportation Board's latest update of fees shippers must pay to file cases and pleadings, released Friday, contains some increases but leaves unchanged the current $350 fee charged shippers…
STB seeks to “protect captive shippers”
The Surface Transportation Board Wednesday announced "two initiatives to explore ways to further protect captive shippers from unreasonable rail rates." STB said it proposes to reform its rules on how…
June employment up for month and for year
U.S. Class I railroads employed 163,159 workers in mid-June, up 0.38% from May and 2.40% from June 2011.
Rail employment dips in May, but ahead of 2011
U.S. Class I railroads employed 161,191 workers in mid-May, down 0.42% from the previous month (161,876), but still ahead of March's 160,523 workers employed, according to data provided by the…
Maintenance workers pace April rail employment gains
Led by increases in rail maintenance of way and structures employees, U.S. Class I railroads employed 161,876 workers in mid-April, up 3.25% from April 2011 and also up 0.84 from…
STB OKs reopening Adirondack rail route
The Surface Transportation Board on May 14 approved a request by Iowa Pacific Holdings to reopen a rail route deep in Adirondack State Park, N.Y., dismissing protests from an environmental…
BNSF, UP ordered to pay rate reparations
The Surface Transportation Board has ordered BNSF and Union Pacific to pay reparations totaling $9,244,144 to Arizona Electric Power Cooperative for rate overcharges for the movement of utility coal.
Rail employment rises across-the-board
U.S. Class I railroads employed 160,523 workers in mid-March, up 3% from March 2011 and 0.81% from February 2012.
Oklahoma short line gets trackage rights
The Surface Transportation Board Wednesday announced approval of a trackage rights exemption sought be WFEC Railroad Co. "to grant limited nonexclusive overhead trackage rights to Kiamichi Railroad LLC (KRR), over…
STB seeks less formal litigation, more mediation
The Surface Transportation Board has initiated proposals to encourage more mediation and arbitration for the resolution of issues coming before the Board.
Reactivation of Arkansas short line sought
North Louisiana & Arkansas Railroad, Inc. (NLA) has petitioned the Surface Transportation Board for authority to lease and operate a 21.8-mile line of railroad extending from a point near Lake Village…
Rail employment barely down in mid-February
Class I rail employment numbers released by the Surface Transportation Board show Class I railroads employed 159,333 people in mid-February, up 3.93% from February 2011, and down just 105 positions,…
Employment up year-over-year, dips from past month
Class I railroads employed 159, 333 people in mid-January, up 3.93% from January 2011, but down 0.24% overall from last December, according to figures provided by the Surface Transportation Board.
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