CSX

In Defense of the FRA

I don’t often feel the need to defend our industry’s regulator, the Federal Railroad Administration. Part of that is me. Like many who have stumbled into a career in this industry (and I literally stumbled my way into railroad employment, half-blinded and three-quarters frozen by a blizzard in Chicago), I’ve always had a problem with authority. Not that I begrudge anyone his or her authority, title, rate of pay—any of that stuff. I just don’t like other people telling me what to do, and I positively hate it when others think they need to tell me what to do.

USDOT Awards $1 Billion for 70 Infrastructure Projects

The U.S. Department of Transportation (USDOT) will distribute $1 billion among 70 surface transportation infrastructure projects in 44 states through its Better Utilizing Investments to Leverage Development (BUILD) Transportation Discretionary Grants program. The Fiscal Year 2020 program is for planning and capital investments.

Foote: CSX 2Q “Most Disruptive Period I’ve Seen”

CSX, the fourth Class I railroad to report second-quarter 2020 earnings, was hit hard by the freight traffic falloff and economy in recession created by the global COVID-19 pandemic, which appears to have entered a second wave in the U.S. CSX’s 2Q2020 net earnings of $499 million, or $0.65 per share, were a 57.4% free-fall compared to the 2019 period’s $870 million, or $1.08 per share.