By 2026, provided the procurement is fully funded and all options are exercised, New Jersey Transit—empowered by an infusion of much-needed funding by Governor Phil Murphy following a starvation diet imposed by his predecessor, Chris Christie—will have replaced its entire fleet of aging single-level cars with nearly 650 new Multilevels, many of which will be powered electric vehicles, the first of their type in North America.
Author: William C. Vantuono
On Monday Feb. 11, 2019, Norfolk Southern and Union Pacific—both of which are rolling out their own versions of Precision Scheduled Railroading—will deploy jointly developed new routing protocols for domestic and international intermodal interline services.
MTA New York City Transit announced Dec. 10 that as part of its Save Safe Seconds campaign to safely improve subway performance, a multidisciplinary team of engineers and safety officials, working closely with the agency’s unionized signal maintainers, have begun raising “antiquated” speed limits on certain track segments and repairing faulty speed restriction signals throughout the subway system.
Railway Age December 2018, Cover Story: BNSF Railway Co. Executive Chairman Matthew K. Rose will retire from the railroad in April of 2019, after 26 years of service. At the end of his tenure, Rose will have been Executive Chairman for six years, and CEO for the prior 13 years. He also served in senior marketing and operations positions at BNSF and predecessor Burlington Northern before assuming the CEO role in December 2000.
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.
New Jersey Transit announced Dec. 5 that Positive Train Control is “95% complete” toward meeting compliance with the Dec. 3, 2018 interim deadline. Concurrently, the agency launched “a new comprehensive communications initiative aimed at improving the customer experience” and announced a procurement for new multi-level railcars.
Long-time colleagues and fellow Englishmen Andy Byford and Pete Tomlin, who worked together on the London Underground and Toronto Transit Commission, will once again join forces, this time at MTA New York City Transit.
Institutional Investor, a publication covering the financial services industry since the 1980s, has named Union Pacific Executive Vice President and Chief Financial Officer Rob Knight “Best CFO” for the sixth consecutive year in its 2019 All-America Executive Team list of airfreight and surface transportation companies.
TekTracking LLC, a railway technology sales and product development firm, has formed a new partnership with Gioconda Rail.
LTK Engineering Services has promoted four staff members to senior-level positions, three of them with new regional responsibilities.