By 2026, provided the procurement is fully funded and all options are exercised, New Jersey Transit—empowered by an infusion of much-needed funding by Governor Phil Murphy following a starvation diet imposed by his predecessor, Chris Christie—will have replaced its entire fleet of aging single-level cars with nearly 650 new Multilevels, many of which will be powered electric vehicles, the first of their type in North America.
Nothing says fundamental transformation quite like Norfolk Southern’s new Network Operations Center, a murmuring, windowless bunker where the Class I has aggregated its dispatching in downtown Atlanta.
Financial Edge, December 2018 Railway Age: On Oct. 22, American Railcar Industries Inc. (ARI) announced that it was being acquired by a subsidiary of ITE Rail Fund L.P. (ITE). The acquisition price was $70 per share, for a total purchase price (including debt) of $1.7 billion. That price represented a 51% premium to the previous day’s close (Oct. 19) of $46.29 per share. As ITE is privately held, ARI will become a private company at acquisition.
AllTranstek, L.L.C. announced the promotion of James Dinell to Vice President, Technical Services.
What happens when you retire? I’m sure there are few things on everyone’s minds: that extra free time to look forward to, those hobbies you will now have time for, and all the places to visit. For a company, however, losing long-standing employees to retirement can be a difficult moment. Not only do they lose a valued colleague; a firm loses valuable institutional knowledge, experience and wisdom. The gap that is left behind is tangible and can really hurt business stability and growth.
Ever since the first rail was laid in 1898 to lift Gold Rush Stampeders over the jagged mountains of the Alaska Panhandle to Canada’s Klondike, the tenuous but irrepressible White Pass & Yukon Route has been rescued from peril by a succession of improbable saviors, one of them the United States Army.
CIT Group Inc. announced that Robert Rubino has been named president of CIT Bank, N.A., the banking subsidiary of CIT, and head of Commercial Banking, effective Feb. 25.
Union Pacific on Dec. 6 will participate in the funeral procession for President George H.W. Bush with a special funeral train powered by SD70ACe 4141, whose paint scheme honors the 41st U.S. President. The train will leave UP’s Westfield Auto Facility at 1:00 p.m. and is scheduled to arrive at College Station, Tex. at Bush’s final resting place at his Presidential Library, across from Kyle Field at 3:25 p.m.
Duos Technologies Group, the provider of intelligent security and analytical technology solutions, has pocketed a second contract from a North American Class I customer.
In a move that it says will increase demand and pricing for Alberta’s tar sands bitumen, the provincial government has affirmed that it will imminently sign orders for two unit-train’s worth of oil tank cars. The deal will be signed by year-end, Premier Rachel Notley declared Nov. 28. The carbuilder was not disclosed.