CSX derailment in West Virginia leads to Amtrak cancellations

Derailed coal hopper cars at night

ST. ALBANS, W.Va. — Derailment of a CSX coal train early today (Sunday, Aug. 3) has led to cancellation of Amtrak’s Cardinal in both directions between Huntington, W.Va., and New York. The St. Albans Fire Department, which responded to the incident at 12:33 a.m., said in a social media post that no injuries were reported; […]

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Report: CSX talks with investment bank about merger options

CSX locomotives with Family Lines paint scheme

JACKSONVILLE, Fla. — CSX has declined to comment on a Bloomberg report that it has engaged Goldman Sachs to advise it about potential merger options. Today’s news comes in the wake of this week’s announcement that Union Pacific will acquire Norfolk Southern in an $85 billion deal that would create the first transcontinental railroad. Industry […]

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Shipper groups oppose more railroad mergers

WASHINGTON — Groups representing rail shippers say they would be opposed to the creation of a transcontinental railroad in the U.S., arguing that further consolidation in the industry would reduce their competitive options, lead to higher rates, and worsen service. Union Pacific and Norfolk Southern said last week that they are engaged in advanced negotiations […]

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CSX won’t rule out merger options

JACKSONVILLE, Fla. — CSX may not be out shopping for a merger partner, but the railroad will consider proposals that would raise shareholder value, improve service, and lead to profitable growth. “We know there’s been a lot of rumor and speculation about consolidation in the railroad industry in recent weeks,” CSX CEO Joe Hinrichs said […]

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CSX profits fall on lower revenue, higher costs

Freight train with blue and yellow locomotives rounding curve

JACKSONVILLE, Fla. — CSX’s second-quarter profits slumped as unfavorable changes in traffic mix drove a revenue decline and costs rose amid congestion and detours related to a pair of main line outages. But executives said they were encouraged by the pace of the railroad’s operational recovery during the quarter, which produced improvements in on-time performance. […]

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