Portland, Ore., transit agency announces plans for service cuts

White light rail train at station

PORTLAND, Ore. — Portland’s TriMet has become the latest U.S. transit agency to announce plans for significant service cuts to address a funding shortfall, announcing plans to reduce frequency on some bus lines this November in the first phase of a process that would eventually include an 18% reduction in MAX light rail service. The […]

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Union Pacific posts record financial results

OMAHA, Neb. — Union Pacific reported record second quarter financial results this morning as surging coal volumes led the railroad’s traffic gains. “We are delivering on our strategy and our results demonstrate our commitment to leading the industry as we set new standards for safety, service, and operational excellence,” CEO Jim Vena told investors and […]

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Union Pacific and Norfolk Southern confirm advanced merger talks

Union Pacific and Norfolk Southern confirmed this morning that they are engaged in advanced merger discussions that would create the first U.S. transcontinental railroad. “There can be no assurances as to whether an agreement for a transaction will be reached or as to the terms of any such transaction,” the railroads said. UP and NS […]

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U.S. weekly rail traffic again shows gains

Weekly table showing U.S. carload rail traffic by commodity type, plus overall intermodal volume

WASHINGTON — U.S. weekly rail traffic remains up after a brief dip in June, according to the latest statistics from the Association of American Railroads. For the week ending July 19, rail traffic totaled 506,882 carloads and intermodal units, up 5.6% compared with the same week a year ago. It is the third straight week […]

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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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Union Pacific expands domestic intermodal service

Train with three yellow locomotives on broad curve

OMAHA, Neb. — Union Pacific has announced a pair of new domestic intermodal lanes, with new service linking the Pacific Northwest with Chicago as well as between Memphis and Dallas. On Saturday, UP will launch daily service from Tacoma, Wash., to its Global 4 terminal in Joliet, Ill., outside Chicago. “This service will be complementary […]

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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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