The Railway Supply Institute (RSI) announced April 23 that it is soliciting nominations for executives from member companies to fill three spots on its board of directors for a term beginning in January 2020.
Despite declines in operating revenue and revenue carloads, and coping with severe weather problems, Union Pacific managed to post record first-quarter financial results, based on what it’s calling “improved operating performance.”
Much is being made in the railroad industry and transportation media about the Precision Scheduled Railroading (PSR) wildfire sweeping from coast to coast. Proponents of PSR will tell you that it will prove to be the industry’s savior. But it also begs the following question: Just what does the industry need to be saved from?
Advancements in the logistics industry over the past ten years have been vast, especially in over-the-road shipping modes with shippers utilizing 3PLs at record levels for domestic transportation management. The move toward partnering with logistics service providers has allowed shippers to use the power of modern technology to increase visibility and track product movements throughout their supply chains with greater efficiency than ever before. Unfortunately, rail has not seen advancement at the same pace, leaving shippers with the perception that rail carriers are behind the times.
What’s the Good News? At least one large Class I freight railroad has finally codified some meaningful fatigue countermeasure provisions with its train operating employees, in an actual written agreement. And, yes, that is Good News, although it has been very slow in coming.
Continuing on the heels of last week’s trend, three of the 10 carload commodity groups posted a year-over-year increase—and total carloads were slightly up—but all other traffic declined, according to figures released on April 17 by the Association of American Railroads (AAR) for the week ended April 13.
CSX Corp. announced on April 16 that its first-quarter 2019 net earnings reached $834 million, or $1.02 per share, against $695 million ($.78 per share) year-over-year—an earnings per share increase of 31%.
A. Stucki Company has named Sagar Sumant as Global Director of SAP (Systems, Applications and Products) to lead the company’s new SAP Global Center of Excellence.
Kansas City Southern (KCS) on April 17 reported record first-quarter 2019 revenues of $675 million, a 6% year-over-year increase on a 1% volume decline, based on adjusted operating income of $242 million. Its adjusted operating ratio was 64.2% compared to 65.8% the year prior. Adjusted diluted earnings per share were $1.54—18% higher than a year ago.
LEGISLATIVE REPORT, APRIL 2019 – Knock, knock. Who’s there? If at the door are those laboring in official Washington, the answer is, “many new faces”—new congressional committee chairs, regulators, association chiefs, lobbyists and labor negotiators. Does not danger dwell where unfamiliarity and uncertainty lurk?