The Office of Management and Budget (OMB) has submitted to Congress President Joe Biden’s $1.52 trillion discretionary funding request for Fiscal Year 2022, which includes $25.6 billion for the U.S. Department of Transportation (USDOT).
Kansas City Southern’s first-quarter financials were slightly off from the prior-year period due to several factors, but the merger-bound Class I says it anticipates improved operating and service metrics and revenue growth this year.
STV promoted Paul E. Bobby and Kevin Carmody to Vice President positions; Bowman named Botts Smith Director of Transportation; and Chesapeake & Delaware named Renee LoSapio General Manager of Railroads.
SMART Transportation Division (SMART-TD) President Jeremy R. Ferguson has sent a letter to Canadian Pacific (CP) President and CEO Keith Creel stating that the union he runs generally supports what CP and Kansas City Southern (KCS) are seeking from the Surface Transportation Board for their merger.
Merger applicants Canadian Pacific (CP) and Kansas City Southern (KCS) are refuting the U.S. Department of Justice’s (DOJ) recent filing with the Surface Transportation Board (STB) questioning use of a voting trust and granting KCS an exemption under merger rules established about 20 years ago.
Infrastructure engineering software firm Bentley Systems, Inc., is developing applications for digital twins with NVIDIA Omniverse; the FourKites® real-time supply chain visibility platform is offering a Tracking Quality Guarantee; and LEDtronics® is producing a new LED light fixture with an energy-efficient, high-lumen output.
Total U.S. rail traffic for the week ending April 10, 2021 rose 24.5% over the prior-year period, according to an Association of American Railroads (AAR) report released April 14.
Resiliency is among the key takeaways from Sergio Rebelo, who kicked off the recent 2021 Rail Equipment Finance (REF) Virtual Conference. He is the MUFG Bank Distinguished Professor of International Finance at Northwestern University’s Kellogg School of Management.
After a thorough review of my mergers and acquisitions career work, I have reached the conclusion that the Canadian Pacific-Kansas City Southern (“CPKC”) combination has several less-than-optimal locations where overall system performance affecting three nations—the U.S., Mexico and Canada—could be addressed and improved during Surface Transportation Board review.
The U.S. Department of Transportation (USDOT) has issued a Notice of Funding Opportunity (NOFO) for the RAISE program, providing $1 billion in FY 2021 discretionary grant funding for rail, transit, road and port infrastructure projects.
