RailSolutions, LLC has promoted Senior Vice President Mike Mahoney to President, effective Jan. 1, 2021. Mahoney, who succeeds Rob Blankemeyer, will assume responsibility for the company’s day-to-day operations. Blankemeyer will remain with RailSolutions as Senior Vice President.
At Cowen and Company, we expect North American railcar demand to recover in 2021. One of the best-positioned suppliers? The Greenbrier Companies (GBX), with more than a 40% manufacturing share following the acquisition of ARI. Railcar markets in Europe and Brazil are also improving. All of this plus the cost-cutting measures GBX has taken make it our top 2021 pick.
Railway Age has named Canadian Pacific President and CEO Keith Creel the 58th annual recipient of its Railroader of the Year Award. A cover profile of Creel and his leadership at CP will appear in the January 2021 issue.
RAILWAY AGE, DECEMBER 2020 ISSUE COVER STORY: As one of the most difficult years in world history draws to a conclusion that at times felt like it would never come, the North American railway industry—battered and bruised but refusing to go down—looks to a new year with cautious optimism, and most important—hope.
We hosted rail industry experts in our third Suds with Seidl event. The overall mood was optimistic. The outlook for 2021 was strong, with one participant noting he was surprised to hear just how bullish his customers were this past week. Class I’s may be missing business opportunities, but there is still hope for greater communication via technology initiatives. We remain positive on the rail group.
Five major rail industry companies—Trinity Industries, Norfolk Southern, GATX, Genesee & Wyoming and Watco Cos.—have entered into a joint venture called RailPulse that is “expected to accelerate rail modal transformation through the advancement of GPS technology and other telematics across the North American railcar fleet.”
Railway Age is now accepting entries for its 2021 “Fast Trackers” 20 Under 40 awards, in which we will profile 20 individuals under the age of 40 who have made an impact in their respective fields or within their company. For our fifth annual awards, we have increased the number of honorees from 10 to 20, due to a growing number of entries and outstanding candidates. Once again, Michigan State Center for Railway Research & Education Director Nick Little will judge the entries. Those representing the “best of the best” will be featured in Railway Age’s February 2021 issue. The deadline is Jan. 7, 2021.
FreightCar America (FCA) has reported its third-quarter 2020 results, including consolidated revenues of $25.2 million on deliveries of 163 railcars—a 38% drop from the year-earlier period’s $40.7 million on deliveries of 467 railcars—as the industry “remains in a cyclical downturn, which was intensified by the pandemic.” The company continues to move all railcar production to its new Mexico facility by early 2021.
With Joe Biden preparing to take the oath of office as the 46th president of the United States on Jan. 20, 2021, the Association of American Railroads (AAR), the American Short Line and Regional Railroad Association (ASLRRA), Amtrak, the American Public Transportation Association (APTA), and the Railway Supply Institute (RSI) are “ready to work” with him, his Administration and Congress—and help the industry, and the country, recover from the COVID-19 pandemic.