Rails rank high among employers of veterans
G.I. Jobs magazine has named four Class I freight railroads among the 10 “most military friendly” employers, selecting Union Pacific as No. 1 among the top employers of military personnel, followed by
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Berkshire Hathaway will unload UP and NS shares
Berkshire Hathaway, Inc. disclosed in documents filed Monday with the Securities and Exchange Commission that it will sell all of the shares it holds in Union Pacific and Norfolk Southern prior to
Rails ride high on media, analyst radar
Tuesday’s announcement by Berkshire Hathaway, Inc. and Burlington Northern Santa Fe Corp., presaging the former’s full acquisition of the latter, drew widespread general media attention to the U.S. freight railroad sector as
J.B. Hunt, NS agree on plan to bolster intermodal
J.B. Hunt Transport Services, Inc. announced Thursday that it has reached an agreement with Norfolk Southern Corp. to develop a new intermodal transportation contract to provide both parties a platform to accelerate the conversion
VRE spurns Amtrak challenge on operator choice
Virginia Railway Express officials have denied Amtrak’s challenge to a plan to have an international company operate the commuter rail service’s trains. Amtrak is contesting VRE’s plan to award a five-year, $85
BNSF agrees to acquisition by Berkshire Hathaway Inc.
Omaha-based Berkshire Hathaway Inc., the holding company led by well-known billionaire Warren Buffett, announced Tuesday it has reached agreement with Burlington Northern Santa Fe Corp. to purchase the roughly 78% of BNSF
Pennsylvania joins NS in intermodal initiative
Norfolk Southern and the Commonwealth of Pennsylvania are investing $11 million to expand track and parking capacity in the railroad’s intermodal facility at the Philadelphia Navy Yard. In an announcement Monday, NS
Stored equipment fleet continues to shrink
As business starts to return to the railroads, more freight cars and locomotives are being put back to work, though the size of the stored fleet remains too large for comfort. Norfolk Southern’s executive
NS: Revenue falls, but Wall Street is encouraged
Norfolk Southern reported Tuesday third-quarter net income of $303 million, or 81 cents per diluted share, down almost 42% from $520 million, or $1.37 per diluted share, in the comparable third quarter
UP, CSX launch ‘RailChem Connect’
One day after regional competitor Norfolk Southern heralded a joint effort with Union Pacific, CSX announced its own coordinated effort with UP, dubbed “RailChem Connect,” designed to coordinate and expedite chemical transport
UP, NS introduce ‘Gulf Coast Flyer’ for chemical shipments
Union Pacific Railroad and Norfolk Southern Monday introduced the Gulf Coast Flyer, a rail service for the safe transport of chemicals between the Union Pacific-served southern Texas and Louisiana regions and Norfolk
NS e-commerce offers ‘Railcar Event-Text Message Alerts’
Norfolk Southern said Tuesday its customers now can receive text messages notifying them of the status of shipments with Railcar Event Alerts. Using a simple application on the company’s e-commerce site, accessNS,
NS: New website stresses PPPs
With several freight rail corridor development public-private partnerships under way or in planning, Norfolk Southern has launched TheFutureNeedsUs.com, a new website focusing on the public benefits of these projects. “TheFutureNeedsUs.com describes projects
Rail cost of capital exceeds average return on investment
The Surface Transportation Board has determined that the railroad industry’s pre-tax cost of capital for 2008 was 11.75%, slightly higher than the previous year’s 11.53%. This means there’s still a wide gap
Analyst: “Dawn of a better day in rail traffic”
As rail freight traffic rebounds, making sense of “volume volatility” has been difficult, says Dahlman Rose & Co. Director Equity Research and Railway Age Contributing Editor Jason Seidl in his latest weekly
NS praises Crescent Corridor state partners
Norfolk Southern Corp. has commended its Crescent Corridor state partners, including Pennsylvania, Virginia, Alabama, Mississippi, and Tennessee, for supporting the Crescent Corridor program designed to increase NS’ freight transportation capacity and mobility
NS: Shared freight/passenger route costs Virginia less
Norfolk Southern Corp., reflecting the growing interest by Class I railroads to cooperate with passenger rail interests to the benefit of both parties, says it would cost just $75 million to upgrade
Dahlman Rose & Co. 2009 Global Transportation Conference Report
The railroads are well-positioned for the recovery—a point emphasized by the railroad industry speakers at the September 9-10 Dahlman Rose & Co. 2009 Global Transportation Conference in New York City, moderated by
GE Transportation sees tough year in 2010
GE Transportation forecasts a "very tough and bleak" market for new railroad locomotives through 2010, since "[t]here are no (U.S.) customers who are actively purchasing right now," company President and CEO Lorenzo
Class I’s earn 8.94% return for 12 months ended June 30
The Surface Transportation Board posted statistics on its website Monday showing that Class I railroads earned a return on net investment of 8.94% in the 12-month period that ended June 30, compared