Amtrak recently announced that Dennis Newman has been appointed Executive Vice President, Planning & Strategy, and he will be “responsible for corporate planning and strategy, schedule and consist planning, Amtrak’s services and host railroad groups, and the company’s participation in the Gateway Program.”
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.”
Virgin Trains USA (formerly Brightline) has closed on $1.75 billion in private activity bonds (PABs) underwritten by Morgan Stanley and purchased by 67 different investors to help fund the company’s expansion from West Palm Beach, on the Florida East Coast Railway, to Orlando. Virgin described the closing as “one of the largest PAB transactions to date.”
As the San Diego Metropolitan Transit System (MTS) gets set to roll out the next generation of light rail vehicles (LRVs) for service on the UC San Diego Blue Line on April 20, MTS officials recently unveiled the first car of the new LRV series during a “Trolley Open House.”
STV, Inc. has elevated Senior Director Corporate Communications Jill Bonamusa to vice president.
In a transaction valued at $400 million, the Greenbrier Companies, Inc. (GBRX) has entered into an agreement to acquire the manufacturing business of American Railcar Industries (ARI) from ITE Management LP (ITE), the hedge fund that bought ARI from investor Carl Icahn in December 2018. GBX said the result will be “a larger U.S. railcar manufacturing footprint, adding ARI’s two manufacturing facilities in Arkansas. It will employ more U.S. workers at cost-competitive and flexible facilities, with a more-efficient delivery model throughout North America, due to lower transportation costs.”
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.
