Finance/Leasing

Baun joins MULR as CCO

Rail industry veteran Theodore W. “Ted” Baun will be joining MUL Railcars, Inc. (MULR), a subsidiary of Mitsubishi UFJ Lease & Finance Company Limited (MUL), as Chief Commercial Officer, effective July 1. He will be responsible for fleet utilization, revenue generation and customer support operations, as well as “playing an integral role as part of the corporate leadership of MULR in planning and architecting the growth of the platform and the fleet as we drive toward our near-term objective of having a 25,000-car portfolio by the end of 2020,” the company said.

Greenbrier acquiring ARI

In a transaction valued at $400 million, the Greenbrier Companies, Inc. (GBRX) has entered into an agreement to acquire the manufacturing business of American Railcar Industries (ARI) from ITE Management LP (ITE), the hedge fund that bought ARI from investor Carl Icahn in December 2018. GBX said the result will be “a larger U.S. railcar manufacturing footprint, adding ARI’s two manufacturing facilities in Arkansas. It will employ more U.S. workers at cost-competitive and flexible facilities, with a more-efficient delivery model throughout North America, due to lower transportation costs.”

Rail freight traffic: What’s going on here?

We traditionally have reported the Association of American Railroads weekly compilation of freight traffic statistics as “straight news,” with commentary restricted to what the AAR may include in the release, which is rare. In this case, there’s a lot going on here, enough to warrant some analysis. The figures are all here, along with supporting charts. But don’t take them at face value.

Matt Rose at REF 2019: It’s about growth—not cutting

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.