Breaking News

$121M for Indiana crossing upgrades

Weeks after federal officials called for improvements in grade-crossing safety nationwide, Indiana has stepped up with millions in state funding to help pay for life-saving projects. Gov. Eric Holcomb, along with officials

FRA morale tops among rail agencies

Some in the federal work force may say, “Take this job and shove it,” but not so at the Federal Railroad Administration (FRA), where job satisfaction for 2018 was the highest among the Department of Transportation’s nine modal administrations.

Opinion

Amtrak’s second fire sale in a year

In follow-up to my previously published article in Railway Age (“Does the Emperor Wear No Clothes?” June 23, 2017) critically analyzing why would Amtrak put sleeper compartments on sale without any black-out dates during the last part of summer and Thanksgiving, “There ya go again, Mr. Anderson!”

Brightline goes Virginal. What price Virginity?

Last month we reported on the impending demise of the Brightline brand for privately operated passenger trains in Florida, and the takeover by Virgin, at least as far as the public face of the venture is concerned (William C. Vantuono’s initial report on Nov. 16 and this writer’s article concerning the company and its branding on Nov. 26). There have been new developments lately: an initial public offering (IPO) for stock, and the prospect of an additional station near the giant Disney World theme park. The situation facing incumbent management may also be worse than we reported then.

Carl Icahn knows rail investing

Financial Edge, December 2018 Railway Age: On Oct. 22, American Railcar Industries Inc. (ARI) announced that it was being acquired by a subsidiary of ITE Rail Fund L.P. (ITE). The acquisition price was $70 per share, for a total purchase price (including debt) of $1.7 billion. That price represented a 51% premium to the previous day’s close (Oct. 19) of $46.29 per share. As ITE is privately held, ARI will become a private company at acquisition.