CTA Unveils Operating Budget, Capital Plan Proposals
The Chicago Transit Authority (CTA) has proposed a $1.75 billion operating budget for 2022 and a $3.5 billion capital improvement plan for 2022-26.
Author: Marybeth Luczak
People News: Pioneer Lines, SMART
Pioneer Lines has named Matthew Service Senior Vice President of Corporate Development. In addition, California’s Sonoma-Marin Area Rail Transit (SMART) has appointed Eddy Cumins General Manager, succeeding Farhad Mansourian.
Baltimore Penn Station Project Under Way
Amtrak and Penn Station Partners on Oct. 22 held a groundbreaking ceremony for redevelopment and expansion of the historic Baltimore Penn Station on the Northeast Corridor in Maryland.
California Agencies Team on Intercity Rail Advocacy
An advocacy coalition has been formed by the three California agencies that manage the Amtrak-operated Capitol Corridor, Pacific Surfliner and San Joaquins intercity rail services.
Brightline West Project Advancing in California
The planned $8 billion Brightline West high speed rail line is another step closer to connecting Las Vegas with Southern California.
Supply Side: GRS; Hub Group
Greenbrier Rail Services (GRS) is selling its Youngstown Steel Doors (YSD) subsidiary, and Hub Group has acquired Choptank Transport, a cold-chain focused third-party logistics company.
Transit Briefs: LACMTA; NYMTA; SFRTA; STM; Metra
Los Angeles County Metropolitan Transportation Authority (LACMTA) has installed earthquake early warning systems at 26 rail and bus division facilities. In addition, New York Metropolitan Transportation Authority (MTA) is forming a subsidiary to oversee the new East Side Access project terminal; South Florida Regional Transportation Authority’s (SFRTA) Tri-Rail is resuming full service; Thales has delivered interlocking systems for three Société de Transport de Montréal (STM) rapid transit stations; and Wabtec will provide doors, brakes, HVAC systems and event recorders for Metra’s new multilevels.
GATX 3Q21: ‘Demand Strong, Lease Rates Rise’
“We continue to see improvement across our global railcar leasing markets,” GATX Corp. President and CEO Brian A. Kenney said during a third-quarter 2021 earnings report on Oct. 21; he noted fleet utilization increased to 99.2% at quarter end for North America, and remained high at 98.1% for GATX Rail Europe.
Trinity: Challenging 3Q21, Improving Railcar Market Outlook
While Trinity Industries’ Rail Products Group was “challenged” in third-quarter 2021, the Railcar Leasing and Management Service Group had “another quarter of strong performance, and we maintain our view that market fundamentals for railcar leasing should continue to ramp up into 2022,” President and CEO Jean Savage said on Oct. 21.
UP Expecting ‘Solid’ Financial Finish for 2021 (UPDATED)
Union Pacific (UP) reported third-quarter 2021 operating revenues of $5.566 billion, up 13% from the 2020 period and up 1% from 2019, as part of its Oct. 21 earnings announcement.