Freight Cars

Rail Equipment Positioning Amid a Market Selloff: Cowen

A looming U.S. economic recession—just look at freight rail traffic figures from the past six months—and “cyclical industrial fears” have significantly impacted rail equipment equities, creating opportunities for long-term investors with what Cowen and Company analysts Matt Elkott, Jason Seidl (Railway Age Wall Street Contributing Editor) and Adam Kramer describe as “quality companies with self-forged narratives” like Wabtec, Trinity and Greenbrier.

Clickbait Journalism at The New York Times

FINANCIAL EDGE, AUGUST 2019: With a 100-plus-degree F temperature and/or heat index blanket covering half the U.S., the summer doldrums are fully upon us. The time of year lines up with the anniversary of one of the most horrible rail tragedies in recent memory—the Lac-Mégantic derailment in July 2013. The 47 deaths that occurred as a result of that accident are unrecoverable losses for families and communities. Their memory should always serve as a reminder of the importance of safety and the need for best practices throughout the railroad industry.

Wabtec Offering Additional GE Shares

Wabtec Corp. recently filed a 20,485,156 share offering of GE, and expects to grant the underwriters a 30-day option to purchase up to an additional 2,048,515 shares. Wabtec said it will not receive any proceeds from the sale of the shares in the offering.

Alexy named FRA chief safety officer

Karl Alexy has been named the Associate Administrator for Railroad Safety and Chief Safety Officer of the Federal Railroad Administration (FRA). He was most recently the FRA’s Deputy Associate Administrator for Railroad Safety and had responsibility for the Office of Safety Analysis, the Office of Technical Oversight and the Office of Regional Operations.

LRW Accepting 2019 Outstanding Member of the Year Nominations

The League of Railway Women (LRW) has opened nominations for the 2019 “Outstanding Member of the Year” award. The recipient will be recognized during the LRW Annual Membership Meeting to be held on Tuesday, Sept. 24 at Railway Interchange in Minneapolis. LRW corporate partners and individual members are eligible.