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BNSF Reports 30% Increased Earnings over First Quarter 2003
Burlington Northern Santa Fe Corporation reported first-quarter 2004 earnings of $0.52 per share, a 30-percent increase over first-quarter 2003 earnings of $0.40 per share, before the favorable effect of an accounting change of $0.10 per share. CPR Intermodal Shipments to Resume in BC Following End to StrikeTugboat pilots and barge workers headed back to work over the weekend to begin clearing thousands of containers piled up on shipping docks during the last week. P&W Derailment Cleared in Oregon; Double Service PlannedGenesee & Wyoming subsidiary Portland & Western's Toledo Line is back in operation, following a derailment last Thursday. CPR Floats New Bascule into Place over Black River in La Crosse, WIA new 147-foot rolling bascule span was floated into place Tuesday afternoon as part of a $16 million project to replace Canadian Pacific Railway's century-old swing bridge over the Black River in La Crosse, Wisconsin. CSXT Employees Win Environmental HonorsCSX Transportation employee Russell V. Glidden became the company's fourth winner of railroading's highest environmental honor - the John H. Chafee Environmental Award, presented by the American Association of Railroads (AAR). CSXT, NS Announce Step to Take Directo Ownership of ConrailCSX Transportation, Inc. (CSXT) and Norfolk Southern Railway Company (NSR) announced that they have taken a key step in establishing direct ownership and control of the two Consolidated Rail Corporation (Conrail) subsidiaries that contain the Conrail assets they currently separately operate. CPR Reports Decline in First Quarter Net IncomeCanadian Pacific Railway reported a decline in net income to $24 million in the three-month period ended March 31, 2004, from $102 million in the same period of 2003. KCS Reports Flawless Continuation of MCS Implementation on Tex-MexIn the third week since the Management Control System (MCS) implementation on Tex-Mex, progress reports indicate that there are still no major train delays attributable to MCS and that some of the benefits of MCS are already being realized. CPR Hudson-type 4-6-4 Making Tracks in 2004Canadian Pacific Railway plucked engine 2816 out of the weeds in Pennsylvania several years ago - determined to bring it back to life. Commuter Rail Replaces Proposed Bus RoutesRepublicans in the Minnesota House are proposing a $684 million package of construction projects that includes the controversial Northstar commuter rail line but would scuttle a previously approved commuter bus route. CN First-Quarter Earnings FallCanadian National Railway Co., the North American railway with the highest profit margins, said first-quarter earnings fell 17 percent as the company lost business during a four-week strike by 5,000 workers. CPR to End Downsizing and Cuts as the Company ExpandsCanadian Pacific Railway says years of downsizing and layoffs are in the past as it focuses on growing the company, in part to handle the Chinese market's huge shipping demands for both imports and exports. Amtrak Blames Engineer for NY CollisionThe Amtrak engineer at the controls of the engine that slammed into a stopped Long Island Rail Road train was suspended without pay as officials blamed him yesterday for the accident. BNSF Sued by City of Burlington, IABattered by layoffs over the past few years, a town of crumbling brick buildings and faded Victorian homes is striking back at the one that hurt it the most -- by suing the railroad that shares its name. NY&GL Looks to Begin Commuter Service Where NJT Left OffNew Jersey Transit has decided not to reactivate commuter rail service on a branch of the Montclair Line, after canceling the service in September 2002, when a rail link was completed to allow Midtown Direct service into Manhattan. NJ Transit Executive Director George Warrington said reopening the lower Boonton line, which served 800 riders a day, would be too expensive, requiring $26 million in immediate track, signal, bridge and other repair work, plus another $46 million in capital spending over 10 years. And, Warrington said, the line would cost $3 million a year to operate, while taking in just $108,000 in fares. Railroads Join in Trying to Block IL Fuel TaxesThe nation's top railroads joined a growing effort Monday to derail Illinois Governor Rod Blagojevich's budget plan. NS First Quarter Report Shows Record RevenuesFor the first quarter of 2004, Norfolk Southern Corporation reported record revenues of $1.7 billion, up eight percent compared with the same period last year, and record first quarter income from railway operations of $346 million, up 50 percent, compared with the same period last year. UPRR Idaho Derailment Dumped GrainA train derailment early Tuesday morning in Vay, Idaho, sent nine railroad cars filled with grain from the tracks, forcing Union Pacific Railroad to reroute trains onto Burlington Northern Santa Fe tracks for more than a day. BNSF Montana Derailment Blocks Hi-Line SubdivisionA westbound grain train derailed Tuesday on the southern border of Glacier National Park, spilling 29 cars of corn near Essex. CBNS Derailment Forced Evacuations and School ClosuresA Cape Breton & Central Nova Scotia Railway train derailment in Nova Scotia has forced the closure of two schools and the evacuation of two families. Canada's Operation Lifesaver to Launch 2004 National Awareness WeekPublic safety campaign Operation Lifesaver and its partners will launch their 2004 national Rail Safety Public Awareness Week on April 26. CN Still Eyes Strong First Quarter Marks, Despite Month-Long StrikeThe latest financial-reporting season kicks off this week with a flurry of statements from Canadian companies including Montreal's Canadian National Railway Co. Amtrak, MARC Station Selected for Security Check by TSAThe Transportation Security Administration plans to begin testing techniques for improving passenger rail security at a station in New Carrollton, Md., that is served by Amtrak and commuter trains that run between Washington, D.C., and Baltimore, according to government officials. BNSF Freight to Keep Moving During CA Sprinter Service ConstructionThe North County Transit District will spend more than $2.8 million to keep freight moving on the Oceanside-Escondido rail line during construction of Sprinter passenger-train service. CPR Minot, ND Deadly Derailment Revisited by FRA, NTSBThe head of the Federal Railroad Administration on Thursday said his agency shoulders some of the blame for a deadly train derailment and chemical spill two years ago, and is working to improve rail safety nationwide. Mississippi Export Looks to Develop Partnership with County for Port DevelopmentMississippi Export Railroad officials hope to eventually develop a public/private partnership with Jackson County to develop a 207-acre tract that the railroad owns on Saracennia Road that is zoned light industrial. BNSF Derailment Blocks Single Track Main in Redmond, ORAt 02:25 PST this morning, ten cars from Burlington Northern Santa Fe freight train M-PASRRB1-18A derailed north of Redmond, Oregon blocking single main track, a spokesman said. Amtrak, LIRR Collision Injures More than 100 Riders this MorningNearly 140 people were injured today when a Long Island Rail Road train packed with commuters collided with an empty Amtrak train in a tunnel near Penn Station. CPR Bascule Span Installation Nearly Complete in La Crosse, WIConstruction is nearly finished on a new 147-foot rolling bascule span that will be installed the last week in April, as part of a $16 million project to replace the Canadian Pacific Railway's century-old swing bridge over the Black River at La Crosse. Iowa Interstate Explores Basis for More Traffic, PassengersThe Pittsburgh, Pennsylvania company that acquired Iowa Interstate Railroad last year is looking for growth in interesting places. |