The Port Authority of New York and New Jersey (PANYNJ) has promoted PATH (Port Authority Trans Hudson) Deputy Director Clarelle DeGraffe to General Manager and Director of Rail Transit, effective March 25. The first woman in the position in PATH’s 111-year history, she succeeds Mike Marino, who announced his retirement late last year.
The World Economic Forum’s most recent Regional Risks of Doing Business report lists cyberattacks as the top concern of corporate executives in 19 countries, including advanced economies in North America, Europe, and Asia. These concerns, according to the report, “highlight the growing reliance of global commerce on digital networks that are the target of increasingly sophisticated and prolific attacks.”
As railways push ahead with digitalization, more and more are engaging and implementing solutions from a new form of supplier: the tech start-up. This is changing the railway-supplier relationship and altering the industry’s wider approach to innovation, as IRJ’s Kevin Smith discovers.
RAIL EQUIPMENT FINANCE 2019, LA QUINTA, CALIF, March 5: BNSF Executive Chairman Matt Rose, nearing retirement, shared his views on the rail industry with Railway Age Editor-in-Chief William C. Vantuono and more than 400 attendees at Railroad Financial Corporation’s annual conference, organized by RFC President and Railway Age Financial Editor David Nahass and his staff. Rose talked extensively about Precision Scheduled Railroading (PSR), business growth, advanced technology and other topics.
“HOW SAFE ARE AMERICA’S RAILROADS? Lesley Stahl reports on a recent string of crashes on U.S. railroads and the delay in implementing life-saving technology that could have prevented them.” Oh brother. I think you know what CBS 60 Minutes reported on March 3. It’s not pretty. But in my humble opinion, the rail industry can take most of the responsibility for what turned out to be a damaging report, because no one in the rail industry wanted to go on camera. More on that later. Here, after the fact unfortunately, is my attempt to shed light on some of the misconceptions and negative picture of our industry the 60 Minutes program perpetuated.
Wabtec Corporation has completed its merger with GE Transportation. The combined company, which is expected to boast revenues greater than $8 billion in 2019, has a compelling growth profile—especially as market conditions improve in its industries. Wabtec announced the transaction completion at the same time as its 4Q18 and full-year 2018 financials.
Railway Interchange, the largest exhibition and technical conference in North America, on Feb. 20 announced that Simmons-Boardman Rail Group, publisher of Railway Age, Railway Track & Structures (RT&S) and International Railway Journal (IRJ), is the official media partner for 2019. Railway Interchange is scheduled on Sunday, Sept. 22 through Wednesday, Sept. 25 at the Minneapolis Convention Center, Minneapolis, Minn.
According to the most recent earnings reports, North American Class I railroads are producing record-low operating ratios and posting record-setting earnings. These results strongly suggest that the current operating format of two-person train crews utilizing innovative safety and fuel conservation technologies is helping achieve these desired, value-added financial results. In short, it is possible for innovative technology and human-operated freight trains to exist in a complimentary fashion. The combination is currently working quite well.
Norfolk Southern, at its Feb. 11 Investor and Financial Analyst Conference in Atlanta, said it plans to hold capital expenditures to between 16% and 18% of revenues through 2021, as the railroad targets a 60% operating ratio by that year.
The Federal Railroad Administration has awarded MTA Metro-North Railroad a grant of up to $2.3 million to support Positive Train Control (PTC) communications testing. The grant, part of the FRA’s Consolidated Rail Infrastructure and Safety Improvements (CRISI) program, will help Metro-North improve the performance of PTC radio spectrum utilization required to make PTC operational on the Northeast Corridor.