Still more Thursday rail news: — The Toronto Transit Commission will lay off 1,000 streetcar, subway, and bus operators as a result of falling revenue because of the COVID-19 pandemic. Some 200 non-union employees will also be cut, while salary increases will be put on hold, overtime will be reduced, and non-essential capital projects will […]
OMAHA, Neb. – Union Pacific expects traffic to fall 25% in the second quarter due to the economic upheaval caused by the COVID-19 pandemic, has withdrawn its earnings guidance for the year, and suspended its share buyback program amid ongoing uncertainty. The railroad, which announced improved first quarter financial results on Thursday despite a 7% […]
A southbound Amtrak Hiawatha races through Lake Forest, Ill., on Feb. 2, 2020. Amtrak will replace the lone remaining Hiawatha round trip with buses as of Friday. TRAINS: David Lassen Wednesday afternoon rail news: — As of Friday, April 24, Amtrak will replace the remaining daily Hiawatha round trip between Chicago and Milwaukee with Thruway […]
A Metrolink train arrives at Burbank in January 2020. Metrolink and LA Metro have received $107 in state funding for improvements on the Antelope Valley Line. TRAINS: David Lassen SACRAMENTO — A $107.1 million award to Bay Area Rapid Transit, and another of $107.05 million to LA Metro and Metrolink, head the list of eight […]
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 […]
