Wednesday morning rail news: — The California High Speed Rail Authority has reached agreement with LA Metro on a preliminary funding plan for the Link Union Station project, which will make the landmark facility a through station for passenger trains rather than the current stub-end terminal. The memorandum of understanding reached on Tuesday to secure […]
Canadian Pacific’s earnings presentation included a photo of this sign Ontario residents placed along the railway’s right of way during the pandemic. Canadian Pacific CALGARY, Alberta — Strong traffic growth propelled Canadian Pacific to record revenue and its lowest first-quarter operating ratio ever. But CP lowered its outlook for the year due to the economic […]
CSX GP40-2 No. 6498 leads a train eastbound at Vale on the Union Pacific in River Forest, Ill., in November 2019. CSX has cut its locomotive fleet in half in the last three years. TRAINS: David Lassen JACKSONVILLE, Fla. — CSX Transportation on Wednesday reported lower quarterly revenue and earnings as coal volume sank and […]
MONTREAL – Ian Barry Scott, former Chairman and CEO of Canadian Pacific Railway, died in Montreal April 17. He was 90. Born Feb. 2, 1930, Scott had a 45-year career with CP, culminating in being named chairman and CEO in 1985. He retired on Feb. 28, 1995, and was succeeded by Robert J. Ritchie. In retirement […]
More Wednesday morning rail news: — InnoTrans, the massive international rail trade fair held every other year in Berlin, has postponed its 2020 edition, which had been set for Sept. 22-25. The decision follows a decree on Tuesday by the Berlin Senate banning events with more than 5,000 people before Oct. 24 because of the […]
An empty Canadian Pacific oil train arrives at Bensenville Yard in suburban Chicago on March 8, 2020. CP could see crude by rail traffic drop to zero in light of the crash in oil prices. TRAINS: David Lassen CALGARY, Alberta — Canadian Pacific is bracing for the possibility that crude by rail volumes could drop to […]
LAKE GENEVA, Wis. — The Midwest Association of Rail Shippers has cancelled its summer meeting, which had been scheduled for July 20-21 at Lake Geneva. “This was not an easy decision,” MARS president Stefan Loeb said in a message to association members. “We understand our members enjoy and appreciate the education and networking opportunities the […]
OMAHA, Neb. — Union Pacific executives, including the board of directors, will take a 25% pay cut and non-union employees will be required to take one week per month of unpaid leave as the railroad deals with the financial impact of the COVID-19 virus. Both moves are effective May through August. “I recognize this is […]
Tuesday morning rail news: — Vancouver, British Columbia, transit agency Translink is laying off 1,500 workers, cutting executive pay and reducing services as it attempts to deal with losses of $2.5 million a day because of the coronavirus pandemic. Executives and members of the board of directors will take 10% pay cuts, the Vancouver Sun […]
More Tuesday morning rail news: — The Wilmington, N.C., City Council is scheduled to vote today on a $2.5 million contract for engineering work on a plan to relocate a CSX Transportation rail line out of the city and turn the existing right-of-way into a light rail system, a concept which could cost $1 billion. […]
[…]
[…]
