Former Kansas City Southern CEO David Starling, who returned to the railway as its independent trustee as part of its proposed merger with Canadian Pacific, died on Feb. 24. Starling was 73. “On behalf of the entire Kansas City Southern family, we feel shock and profound sadness for the sudden loss of our former leader […]
EAST PALESTINE, Ohio — Removal of hazardous waste from the site of a Norfolk Southern derailment in East Palestine is slated to resume today (Monday, Feb. 27), after being paused Saturday by the U.S. Environmental Protection Agency over concerns regarding the moves by residents, as well as those in locations that were receiving the waste. […]
VOLGA, W.Va. — Allegheny Metallurgical Coal, a new company to be served by both CSX Transportation and Appalachian & Ohio, moved its first train of high-grade metallurgical coal earlier this month. The company, located along U.S. Route 119 between Buckhannon, in Upshur County, and Philippi, in Barbour County, moved the first train Feb. 8. Its […]
CHARLESTON, W.Va. — The West Virginia legislature on Saturday advanced a bill that would allow the state’s Public Service Commission, its regulatory agency for utilities, to investigate and fine Class I railroads for safety and operational violations. On an 89-3 vote, the legislature’s House of Delegates passed HB 3059, sending it to the state Senate. […]
SALT LAKE CITY — The company planning to build Uinta Basin Railway will seek $1.9 billion in private activity bonds to help finance construction of the 88-mile railroad in Utah, with the help of the government agency supporting the project, the Colorado Sun news site reports. Those funds would cover 70% of the cost of […]
OMAHA, Neb. — A hedge fund, arguing that Union Pacific ranks dead last in every important operating metric, has asked the railroad’s board of directors to replace current CEO Lance Fritz with former Chief Operating Officer Jim Vena. Soroban Capital, which has a $1.6 billion stake in UP and ranks among its top 10 investors, […]
PHILADELPHIA — The Southeastern Pennsylvania Transportation Authority has awarded a $125 million contract for the final design phase of the King of Prussia Rail project. SEPTA awarded the contract to HNTB Corp. at its Feb. 23 board meeting. The project will add a 4-mile, five-station spur to the Norristown High Speed Line near its northern […]
OMAHA, Neb. — BNSF Railway’s pre-tax earnings declined 1.9% in 2022 due to a combination of lower volume and higher costs, the railroad’s parent company, Berkshire Hathaway, reported on Saturday. BNSF’s revenue was up 11.9% for the year, to $25.2 billion, reflecting an 18.9% increase in average revenue per car/unit, including the impact from higher […]
WASHINGTON — In their latest bid to delay the Canadian Pacific-Kansas City Southern merger, four members of the Illinois congressional delegation have cited the East Palestine, Ohio, derailment as a reason the Surface Transportation Board should subject the merger to further review. In a letter to STB Chairman Martin J. Oberman dated Thursday, Feb. 23, […]
MIAMI, Fla. — CSX Transportation must rely on volume growth – not cost cutting – to boost profits and earnings over the long term, CEO Joe Hinrichs told an investor conference this week. “There’s only so much more you can squeeze out of the operating side of this business,” Hinrichs says. The CSX CEO’s remarks […]
MADRID — Spain’s transportation secretary and the head of national rail operator RENFE have resigned following an order for new regional trains that has become a national scandal. Transportation Secretary Isabel Pardo de Vera and RENFE President Isaías Táboas quit their jobs Feb. 20 in the wake of public and political criticism of a delayed […]
FORT WORTH, Texas — BNSF Railway has become the fourth of the seven Class I railroads to announce an agreement for paid sick leave with some unionized workers, reaching agreement with the Transportation Communications Union and the National Conference of Firemen and Oilers. The TCU agreement applies to insourced intermodal equipment operators, which represent a […]
