ATLANTA — Norfolk Southern, which remains under pressure from an activist investor, today took the unusual step of releasing preliminary first quarter financial results, which included a $600 million proposed settlement of a class action lawsuit related to the East Palestine, Ohio, hazardous materials wreck. Including the impact of the settlement, the railroad’s operating income […]
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DENVER — Colorado legislation limiting train lengths and requiring wayside detectors, among other provisions, has passed the state’s House of Representatives and been introduced in the Senate. HB24-1030 is sponsored in the House by state Rep. Javier Mabrey (D-Denver) and in the Senate by Sens. Lisa Cutter (D-Lakewood) and Tony Exum (D-Colorado Springs.). As passed […]
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At the Pennsylvania Railroad’s Pittsburgh Region desk F (foreground), the dispatcher for the Esplen (south end of the Ohio Connecting Bridge)–Brownsville, Pa., line works with a new style of trainsheet, while his colleague on desk I, Pittsburgh–Gould Tunnel, Ohio, uses the standard type in 1956. Philip R. Hastings photo […]
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News & Products for the week of April 8th 2024 Model railroad operators and builders can get the latest information about locomotives, freight cars, passenger cars, tools, track, and more by reading Model Railroader’s frequent product updates. The following are the products Model Railroader editors have news on for the week of April 8th […]
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CLEVELAND – Ancora Holdings’ campaign to oust Norfolk Southern’s management team last week gained the support of New York investment management firm Neuberger Berman, which said it has concerns about the railroad’s operations, strategy, safety, and service. “We believe a change in management and refreshment of the board … are warranted and could stimulate improved […]
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ATLANTA – Norfolk Southern has pruned its intermodal network and made the operating ratio a key component of its executive compensation plans, the railroad announced yesterday amid its proxy battle with activist investor Ancora Holdings. NS has eliminated 53 low-volume intermodal lanes — or 15% of its intermodal network — that had limited growth prospects. […]
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Class I railroads can continue business as usual and watch their earnings stagnate and profitability fall as their freight volume declines through 2030. Or they can make meaningful service improvements, become easier for customers to deal with, and launch new intermodal services that capture freight from trucks. Adopting a successful growth strategy will boost revenue, […]
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CAPE BRETON, Nova Scotia — The government of Nova Scotia has ended a subsidy for a dormant section of short line in the province because it sees no chance the line will be restored to operation any time soon, the CBC reports. The move regarding the Cape Breton & Central Nova Scotia Railway comes after […]
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CSX CEO Joe Hinrichs today released the first photos of the railroad’s Western Maryland heritage locomotive. The unit, No. 1852 in honor of the Western Maryland’s founding year, was rolled out of the paint shop in Waycross, Ga., and into the sun. It includes the railroad’s fireball logo. “Here is the latest Heritage Locomotive from […]
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LITTLE ROCK, Ark. — A vast majority of Norfolk Southern customers believe an activist investor’s plans for the railroad would worsen service and prompt them to shift some of their freight to truck or rival CSX, according to a Stephens, Inc. shipper survey released today. The Arkansas-based investment bank found that 91% of shippers believe […]
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NEW YORK — Eight men from the Bronx have been charged with involvement in a two-year string of beer thefts targeting rail yards and warehouses in the Northeastern U.S.. The thefts netted hundreds of thousands of dollars of beer; those involved face charges carrying maximum penalties ranging from five years to life in prison, according […]
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WASHINGTON — U.S. rail traffic was up 4.2% in March compared to the same month in 2023, the second straight month of year-over-year gains, according to statistics from the Association of American Railroads. Traffic for the week ending March 30 was also up, the 10th straight week showing gains compared to a year ago. The […]
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