(Adds background on turnaround plan, analyst and CEO quotes) April 17 (Reuters) - CSX Corp easily topped Wall Street forecasts for first-quarter profit as the No. 3 U.S. railroad operator benefited from a cut-throat efficiency and cost-cutting drive, sending its shares 5 percent higher on Tuesday. CSX has been cutting jobs and the number of…
Posts published in April 2018
JACKSONVILLE, Fla. (AP) _ CSX Corp. (CSX) on Tuesday reported first-quarter earnings of $695 million. On a per-share basis, the Jacksonville, Florida-based company said it had net income of 78 cents. The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 66 cents per…
Rail News Home Federal Legislation & Regulation 4/13/2018 Rail News: Federal Legislation & Regulation Denham: USDOT inspector general to audit California high-speed rail project U.S. Rep. Jeff Denham (R-Calif.) chairs the House Subcommittee on Railroads, Pipelines and Hazardous Materials. Photo – Congress.gov The U.S. Department of Transportation's Office of Inspector General has agreed to an…
Rail News Home Federal Legislation & Regulation 4/13/2018 Rail News: Federal Legislation & Regulation Trump nominates Homendy to serve on NTSB President Donald Trump this week announced his intention to nominate Jennifer Homendy of Virginia to serve on the National Transportation Safety Board (NTSB).Homendy is being nominated to serve the remainder of a five-year term…
Rail News Home Federal Legislation & Regulation 4/11/2018 Rail News: Federal Legislation & Regulation House passes rail data security bills The U.S. House of Representatives yesterday passed two bipartisan railroad data and information security bills. One of the bills calls on the Federal Railroad Administration (FRA) to develop a plan and timeline to implement cybersecurity…
Rail News Home Federal Legislation & Regulation 4/9/2018 Rail News: Federal Legislation & Regulation Ontario's high-speed rail project gets CA$11 billion boost The funding will come from the province's 2018 budget. Photo – Ontario's high-speed rail feasibility report The province of Ontario will invest more than CA$11 billion to build the first phase of a…
WASHINGTON (AP) — Forget about bike-share stations in Chicago or pedestrian walkways in Oakland. That's so Obama-era. In the Trump administration, a popular $500 million transportation grant program is focused more on projects in rural areas that turned out for Donald Trump in the 2016 election. That means more road and rail projects in GOP…
Rail News: Federal Legislation & Regulation Norfolk Southern responds to STB on service issues CP, CSX, UP respond to STB's rail-service concerns FRA seeks input on railroad industry automation Transit, rail programs get funding boost under FY18 omnibus bill CAGTC: More than half of TIGER IX awarded to freight STB to hold meetings on directed…
(Adds context, comment from statement) MONTREAL, April 6 (Reuters) - Canadian Pacific Railway conductors and locomotive engineers on Friday voted to authorize a strike action that could have the 3,000 workers walk off the job as early as April 21, Teamsters Canada said in a statement. The workers, whose collective agreement expired late last year,…
Federal Legislation & Regulation News http://www.progressiverailroading.com/federal_legislation_regulation/ Federal Legislation & Regulation NewsCopyright 2018 Trade Press Media Group http://www.progressiverailroading.com/bnsf_railway/news/BNSF-addresses-STBs-service-concerns--54271Tue, 27 Mar 2018 09:30:00 CST http://www.progressiverailroading.com/canadian_national/news/CN-responds-to-STBs-railservice-concerns--54264Mon, 26 Mar 2018 10:00:00 CST http://www.progressiverailroading.com/people/news/Begeman-officially-becomes-STB-chair--54232Wed, 21 Mar 2018 10:30:00 CST http://www.progressiverailroading.com/ptc/news/FRA-PTC-operating-on-56-percent-freight-route-miles--54229Wed, 21 Mar 2018 09:30:00 CST http://www.progressiverailroading.com/passenger_rail/news/APTA-leaders-question-Trump-plan-to-cut-funds-for-transit-capital-projects--54226Tue, 20 Mar 2018 09:45:00 CST http://www.progressiverailroading.com/class_is/news/STB-seeks-Class-Is-response-to-rail-service-complaints--54218Tue, 20 Mar 2018 09:30:00 CST http://www.progressiverailroading.com/amtrak/news/NY-officials-seek-to-rename-Rochester-Amtrak-station-after-Slaughter--54207Mon, 19 Mar…