Report: FreightCar America to Close Roanoke Plant
According to a report from WDBJ7 in Roanoke, Va., FreightCar America will soon wrap up the last of its production orders at its Roanoke facility.
Freight
Jackie (Jack) Wells Matthews, 1945 – 2019
Jackie (Jack) Wells Matthews, founder and CEO of JMA Railroad Supply Company of Seymour, Ind., passed away Oct. 3, 2019 at his home.
KCS Announces $550MM ASR Program
Kansas City Southern (KCS) has entered into accelerated share repurchase transactions (ASR Transactions) with Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC for an aggregate amount of $550 million.
AAR: FORR NPRM “Unlawful”; SMDA Should Be Limited in Scope
The Association of American Railroads (AAR) on Nov. 12 filed comments with the Surface Transportation Board (STB) regarding two NPRMs (Notice of Proposed Rulemakings): Final Offer Rate Review (FORR) and Streamlined Market Dominance Approach (SMDA). The former, AAR said, should be scrapped because it is “unlawful” and lacks standards. The latter requires substantial limitations in scope.
KCS Announces New Capital Allocation Policy
Kansas City Southern’s (KCS) Board of Directors recently approved a new capital allocation policy, under which it intends to deploy available cash in the following manner: approximately 40-50% to capital projects and strategic investments, and approximately 50-60% to share repurchases and dividends.
AAR: 45 Straight Weeks of U.S. Traffic Downturn
The Association of American Railroads (AAR) reported U.S. rail traffic for the week ended Nov. 9, 2019, and, for this week, total U.S. weekly rail traffic was 515,269 carloads and intermodal units, down 5.9% compared with the same week last year.
Honoring Their Service, And Much More
RAILWAY AGE, NOVEMBER 2019 ISSUE: The U.S. military’s long association with North American railroading exists on several levels. First, railroads fulfilled the military’s crucial need for movement of troops and equipment both at home and abroad, dating back to at least the Civil War. During World War I, the U.S. government assumed operation of the railroads, but the daily operation was still carried out by the roads’ employees. During World War II, U.S. railroads completed the Herculean task of serving not only the military, but the general boom in wartime traffic resulting from a strengthening economy and manufacturing needs generated mainly by the war. The Korean conflict and the Vietnam War also placed significant demands on the railroads, as have more recent conflicts in the Middle East. Also, railroad infrastructure on foreign soil during wartime required professional railroaders to join the military to build and maintain U.S. and Allied railroads near the zones of hot conflict.
INEOS Selects Raptor for Railcar Hopper Wash
Raptor® Tank Cleaning Systems / Twin State Environmental has been selected to design, engineer and supply the resin hopper railcar cleaning system for the acrylonitrile styrene acrylate (ASA) plant at INEOS Styrolution’s new plant.
Journey To ATO
RAILWAY AGE, NOVEMBER 2019 ISSUE: Enhanced energy management systems, smart end-of-train devices and moving-block signaling and train control are all under development at Union Pacific as it embarks on a journey to autonomous operation.
Three NS Trains Collide in Western Pennsylvania
Three Norfolk Southern freight trains were involved in a Nov. 8 derailment in Hempfield, Pa., about three miles east of Greensburg, Pa. (near Pittsburgh), on the high-density Pittsburgh-Philadelphia double-track main line. There were no injuries and no hazmat spills. NS restored service on both main tracks early Nov. 10. The cause of the derailment remains under investigation.