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(Recasts with CEO's comments, adds details on capital spending) March 1 (Reuters) - U.S. railroad operator CSX Corp said on Thursday it would stick with a plan started by former Chief Executive Hunter Harrison, who died in December, to boost profit through cutting jobs and rail cars, and will also slash capital spending. Harrison, an…
A 25 percent steel tariff means the price of steel will rise. CSX railways will pass along that price to its customers, says CEO Jim Foote. "Over time that cost, like everything, gets passed on," he says. A bigger concern for the company, he says, is the future of NAFTA. show chapters CSX CEO: Tariffs…
(Adds investor comment) March 1 (Reuters) - U.S. railroad operator CSX Corp said on Thursday it would stick with a plan started by former Chief Executive Hunter Harrison, who died in December, to boost profit through cutting jobs and rail cars, and would also slash capital spending. Harrison, an investor favorite for leading turnarounds of…
The Stockton Terminal and Eastern Railroad (STE) in California has received a grant from the San Joaquin Valley Unified Air Pollution Central District (UAPCD) for the purchase of a new locomotive.Under the grant program, the UAPCD is providing cash incentives for the purchase of the environmentally friendly locomotive, according to OmniTRAX Inc., the railroad's parent.The…
The purchase is expected to enable FreightCar to "be more responsive to customer needs," said President and CEO Jim Meyer. Photo – freightcaramerica.net FreightCar America Inc. has agreed to purchase Navistar Inc.'s rail-car operations assets at its Shoals facility in Cherokee, Alabama. Since 2013, FreightCar has subleased a large portion of the Shoals facility. As…
As many as two-thirds of the 29 U.S. commuter railroads may not meet a deadline to install an anti-crash technology by the end of the year. In 2008, Congress required that PTC be implemented across the country by the end of 2015. It then extended the deadline to the end of 2018. The GAO report…
-report@ WASHINGTON, Feb 28 (Reuters) - As many as two-thirds of the 29 U.S. commuter railroads may not meet a deadline to install an anti-crash technology by the end of the year, according to a report by a government watchdog seen by Reuters. The report by the U.S. Government Accountability Office is expected to be…
Chicago South Shore & South Bend Railroad (CSS) recently added rail-car storage opportunities for empty or loaded freight cars.The expanded storage space is the result of new investments in track capacity designed to help third-party and off-line customers with short- and long-term rail-car storage needs, CSS officials said in a press release."The need for railcar…
WASHINGTON (AP) — President Donald Trump is putting the brakes on attempts to address dangerous safety problems from speeding tractor-trailers to sleepy railroad engineers as part of his quest to roll back regulations across the government, according to a review by The Associated Press of Transportation Department rule-making activities. A dozen transportation safety rules under…