An activist investor group has taken a $1 billion stake in Norfolk Southern and aims to wrest control of the company’s board and oust CEO Alan Shaw, according to a report in The Wall Street Journal this evening. The investor group, led by Cleveland-based Ancora Holdings, has nominated a slate of directors that includes former […]
WASHINGTON — Canadian National’s proposed acquisition of the 218-mile Iowa Northern Railway will boost rail competition, divert freight off the highway, and give Iowa shippers broader access to single-line service, CN says in a merger application filed this week with the Surface Transportation Board. CN spent $230 million to acquire the Class III railroad from […]
WASHINGTON – The Surface Transportation Board today issued a decision that extends the temporary reporting of employment data through the end of the year and that requires certain updated information from BNSF Railway, CSX, Norfolk Southern, and Union Pacific. The board originally required the big four U.S. Class I railroads to submit employment information beginning […]
U.S. Secretary of State William H. Seward must have thought he was making the real estate deal of a lifetime — 600,000 square miles for a cost of less than two cents an acre. That is the price Seward negotiated with Edouard de Stoecki, Russian minister to the U.S., for the purchase of what would […]
CALGARY, Alberta — Canadian Pacific Kansas City will launch the “Final Spike Anniversary Steam Tour,” featuring 4-6-4 No. 2816 on a Canada-to-Mexico trip to celebrate last year’s Canadian Pacific-Kansas City Southern merger, on April 24 at its headquarters in Calgary. A total of 11 stops are planned for the tour, concluding June 4 in Mexico […]
SAN CLEMENTE, Calif. — BNSF Railway has resumed freight operations through the location of the latest landslide on Southern California’s Surf Line, which remains closed to passenger traffic following a Jan. 24 incident near the San Clemente Pier. The Orange County Register reports BNSF began freight movements with a 10-mph speed restriction between 9 p.m. […]
DULUTH, Minn. — Following successful test runs and a single excursion in autumn 2023, the Lake Superior Railroad Museum’s Duluth, Missabe & Iron Range 2-8-0 No. 332 will be pulling a number of trips in 2024. The museum announced the 2-8-0 will be under steam on four weekends during the upcoming season on the museum’s North […]
DETROIT — The landmark Michigan Central Station, undergoing revival by the Ford Motor Co. as a technology hub, could also become the home of a hotel, the Detroit Free Press reports. A spokesman for the Ford subsidiary overseeing the station’s redevelopment said Monday that the company is seeking a zoning change from the current heavy […]
CALGARY, Alberta – Canadian Pacific Kansas City bucked the industry trend by posting fourth-quarter gains in volume, operating income, and revenue. “I am proud of how our team of incredible railroaders finished this transformational year with a strong fourth quarter, allowing CPKC to deliver volume growth and best-in-class earnings growth in 2023,” CEO Keith Creel […]
Will the persistent low water levels in the Panama Canal and ongoing attacks on ships bound to and from the Suez Canal wind up diverting international container traffic to West Coast ports? Railroad executives think so, although most say a shift in international intermodal volume has yet to materialize. The drought in Panama has prompted […]
WASHINGTON — In the latest twist in a long-running Chicago interchange dispute, federal regulators yesterday ruled that it’s unreasonable for Canadian National to unilaterally designate the Belt Railway of Chicago’s Clearing Yard as the location where it will exchange traffic with rival Canadian Pacific Kansas City. It’s the second time that the Surface Transportation Board […]
Bunge, an agricultural company, has become the first shipper to join the RailPulse freight car telematics joint venture. “By joining RailPulse as the first railcar-owning shipper, we are taking a proactive step toward driving positive change and digital transformation within the rail shipping industry,” Terry McDermott, director of supply chain – North American Rail at […]
