Still more Friday morning rail news:
— Nonprofit organization Operation Gratitude and CSX Transportation are teaming to deliver supplies and gifts of gratitude to frontline medical workers today for a network of 11 hospitals in eastern Pennsylvania. The newly formed Coalition to Support COVID-19 Frontline Responders was formed with Operation Gratitude by companies including CSX, Starbucks, Prudential Financial and Mars Wrigley, and has rasied $1.5 million in financial support along with $5 million on product donations. More information about the coalition is available here.
— The Utah Transportation Authority is preparing for a “new normal” with a long-term loss of revenue following the coronavirus pandemic. The Salt Lake Tribune reports that the agency will receive $187 million in aid from the federal government’s $2.2 trillion coronavirus relief act, but believes it will need such aid to meet operating expenses for at least two years if not three. The agency, which operates commuter rail, light rail, and bus service in the Salt Lake City area, expects to see sales tax revenue, which accounts for about two-thirds of operating expense, decrease “substantially” in the wake of the COVID-19 crisis.
— Norfolk Southern says it will take a first-quarter charge of $385 million related to its plans to dispose of about 300 locomotives and designation of 400 others for sale, MarketWatch reports. The previously discussed reduction in the locomotive fleet is related to the railroad’s move to Precision Scheduled Railroading. Norfolk Southern is scheduled to report first-quarter earnings on April 29.
