The Trump administration is demanding federal funds back from California's high-speed rail project, and two GOP lawmakers from California have proposed redirecting the money.A bill introduced by House Minority Leader Kevin McCarthy would "repurpose" about $3.5 billion worth of federal funds for the rail system to water infrastructure projects.A second piece of legislation, by Rep.…
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The CEOs of two major railroad companies say they aren't necessarily worried about the U.S. economy.Union Pacific CEO Lance Fritz and CSX CEO Jim Foote say they think things still look pretty good, despite some concerns on the part of consumers or customers.Their comments come on the heels of a drop in what many view…
Amtrak is preparing to revamp its network of passenger trains in order to boost ridership, The Wall Street Journal reported.Mimicking its popular Northeast Corridor route elsewhere in the country could increase the number of passengers by millions.Changing up its service would impact its storied long-distance routes. Stan Honda | AFP | Getty Images An Amtrak…
CNBC's Jim Cramer explains why the worries of a near-term recession are overblown.The "Mad Money" host also sits down with the CEOs of Hasbro, S&P Global and Norfolk Southern.In the lightning round, Cramer gives the short and long of it for a gene therapy play. Lightning round: The long and short of CRSP In Cramer's…
Rail News Home Mechanical 2/6/2019 Rail News: Mechanical Houston METRO orders more Siemens light-rail vehicles Houston METRO now has ordered 51 S70 light-rail vehicles. Photo – Siemens The Metropolitan Transit Authority of Harris County, Texas (METRO) has ordered 14 light-rail vehicles (LRVs) from Siemens Mobility.The latest purchase marks Houston METRO's third order for Siemens Mobility…
Rail News Home Mechanical 2/6/2019 Rail News: Mechanical Rail supplier news from Siemens, Alstom, GE, Progress Rail, PS Technology, Astronics, Ondas and RailcarRx (Feb. 6) The European Commission yesterday rendered a decision prohibiting the proposed merger of Siemens' and Alstom's mobility businesses. As a result, the merger will not proceed, officials from the companies said…
Rail News Home Federal Legislation & Regulation 2/5/2019 Rail News: Federal Legislation & Regulation NTSB updates list of most wanted safety improvements Six safety recommendations are repeated from the 2017-18 most wanted list. Photo – Source: NTSB The National Transportation Safety Board (NTSB) yesterday unveiled its 2019-20 list of most wanted transportation safety improvements.Launched in…