Norfolk Southern Corp. has named Michael Cox vice president of taxation, effective March 1. He will succeed Robert Kesler, who is retiring.
Cox has held positions of increasing responsibility since he joined NS as assistant tax counsel in 2000. Prior to joining the company, he spent more than a decade in private industry and with the federal government, including serving as a trial attorney in the U.S. Department of Justice's tax division.
Canadian Pacific yesterday announced record operating income of CA$874 million for the fourth quarter, a 28 percent increase compared with the same period in 2017.
CP's revenue for the quarter climbed 17 percent to CA$2 billion from CA$1.7 billion a year ago. Q4 diluted earnings per share (EPS) fell 43 percent to $3.83 from $6.77 a year ago, however adjusted diluted EPS rose 41 percent to a new quarterly record of $4.55 from $3.22 in 2017, according to a CP press release.
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Union Pacific Corp. today reported record fourth-quarter net income of $1.6 billion and diluted earnings per share of $2.12, up 29 percent and 39 percent, respectively, compared with adjusted results for fourth-quarter 2017.
Norfolk Southern Corp. has elected Thomas Kelleher as a board member, effective yesterday. He will serve as an independent director and join the board's finance and risk management committee.
Kelleher, 61, is president of global financial services and investment management firm Morgan Stanley. He also is chairman and chief executive officer of Morgan Stanley Bank N.A. Kelleher is responsible for Morgan Stanley's institutional securities business and wealth management.
Offered by nVent, the ERIFLEX Flexibar Advanced flexible busbar, shown here, is installed in an electrical panel.Photo – nVent
nVent offers an array of products, including nVent ERICO Cadweld, which is used for making exothermic welded connections on track. The company also offers the nVent ERIFLEX product line for electrical conduction and low voltage power distribution (AC/DC power conversion). Used across a range of industries, ERIFLEX products provide "unique advantages that are ideal for railways electrical systems, both onboard and trackside," the company said in an email.
The initial 75 Charger units will be used primarily on Amtrak’s long-distance service routes.Photo – Amtrak
Late last month, Amtrak awarded an $850 million contract to Siemens Mobility for 75 diesel locomotives as part of the railroad’s plan to replace its aging national network fleet.
BNSF Railway Co. has awarded its "Certified Sites" designation to two new industrial locations in Galesburg, Illinois, and Clovis, New Mexico.
The program identifies optimal rail-served sites for customer development along the Class I's network. To be considered for the designation, sites must undergo a thorough analysis that includes an evaluation of environmental and geotechnical standards, available utilities and site availability.
Today, Kansas City Southern reported record fourth-quarter revenue of $694 million, up 5 percent compared with the total in fourth-quarter 2017.
The Class I also registered record adjusted operating income of $248 million, up 4 percent, and record adjusted earnings per share of $1.56, up 13 percent year over year. In addition, KCS’ operating ratio improved 0.9 points to 63.1, although the adjusted ratio inched up 0.3 points to 64.3.
A grant will be used to help fund the Coos Bay Rail Line rehab project.Photo – Port of Coos Bay
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In the fourth quarter, CSX registered an operating ratio of 60.3, a 4.8 point improvement compared with its fourth-quarter 2017 ratio of 65.1 and a Q4 record, the Class I announced yesterday.
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In our January 2018 issue, I wrote a column about E. Hunter Harrison’s passing — a big news story at the time since he had died Dec. 16, 2017. But by doing so, I didn’t get to share what had been the top news stories of 2017, at least according to our Daily News readers. So, I’ll get back to what I hope will become an annual tradition by relaying what I’ll call the Top 18 from ’18. These are the 18 Daily News stories that our ProgressiveRailroading.com readers clicked on the most often last year, ranked in order of total page views. It shouldn’t be surprising that items on Amtrak, CSX, Union Pacific Railroad, precision scheduled railroading (PSR) — or even Canadian Pacific’s holiday train — proved to be popular. Without further ado, here are the Top 18 from ’18, including the dates they ran:
Part 1 : Locomotive makers expect relatively strong demand in 2019 for both new, rebuilt units
Shown: Tier IV locomotives in production at GE’s plant in Fort Worth, Texas.Photo – GE Transportation
Canadian Pacific executives are taking issue with a Canadian Transportation Agency (CTA) plan to include the Class I in a far-reaching investigation into possible freight-rail service problems in the Vancouver, British Columbia, area.
The CTA announced yesterday in a press release that such an investigation "would be appropriate based on information received from shipper associations and other parties." The agency plans to hold a public hearing in Vancouver in late January to provide railroads and shipper groups an opportunity to provide evidence in response to the CTA's concerns.
Amtrak is planning a $1.5 billion, six-span bridge to replace the Portal North Bridge over the Hackensack River in New Jersey.Photo – Amtrak
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A rail bridge overpass (shown) in Landis/China Grove, North Carolina, was completed in 2017 to eliminate a crossing.Photo – North Carolina DOT
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In 2000, Matt Rose became the first baby boomer to head a major North American railroad.Photo – BNSF Railway Co.
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Norfolk Southern Railway generated more than 60,000 carloads of new traffic last year through its industrial development efforts, the Class I announced today.
The 72 new and 18 expanded industrial plants in 17 states represented an investment of $1.5 billion by NS customers. The commercial development is expected to create nearly 3,000 new customer jobs and contribute to the economy in communities across the railroad's service area, NS officials said in a press release.
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BNSF Railway Co. is moving strong volumes throughout its network during the late portion of the peak season, according to a customer letter issued by the Class I Dec. 21.
Volume in the week ending Dec. 15 increased slightly over the prior week and represented a new year-to-date high at nearly 216,500 units, BNSF officials wrote in the letter. Year-to-date volume through that week totaling 10.3 million carloads and intermodal units exceeded the full-year volume in each of the past 11 years, they said.