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UPDATE 2-Union Pacific profit beats, boosted by volume and price gains

(Adds context, executive comment, details on results) Jan 24 (Reuters) - Union Pacific Corp, one of the biggest U.S. railroads, on Thursday reported a higher-than-expected quarterly profit and said efficiency gains will bolster profits in 2019. Shares in the company, which connects 23 states in the western two-thirds of the United States by rail, jumped…

UPDATE 3-Union Pacific profit beats, boosted by volume and price gains

(Adds executive comment, context) Jan 24 (Reuters) - Union Pacific Corp, one of the biggest U.S. railroads, on Thursday reported higher-than-expected quarterly profit and said efficiency gains will bolster profits in 2019. Shares in the company, which connects 23 states in the western two-thirds of the United States by rail, rose 3.3 percent to $159.37.…

UP set income record, advanced Unified Plan in Q4

Rail News Home Mechanical 1/24/2019 Rail News: Mechanical UP set income record, advanced Unified Plan in Q4 By Jeff Stagl, Managing EditorUnion 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.Reported results…

DeFazio to chair House Transportation and Infrastructure Committee

Rail News Home Federal Legislation & Regulation 1/7/2019 Rail News: Federal Legislation & Regulation DeFazio to chair House Transportation and Infrastructure Committee U.S. Rep. Peter DeFazio (D-Ore.) Photo – DeFazio's office U.S. Rep. Peter DeFazio (D-Ore.) last week was elected chairman of the House Transportation and Infrastructure Committee for the 116th Congress. DeFazio had been…

Rhode Island business park awarded grant for freight-rail project

Rail News Home Federal Legislation & Regulation 1/11/2019 Rail News: Federal Legislation & Regulation Rhode Island business park awarded grant for freight-rail project Rail-car volume in the Quonset Business Park has tripled since 2007. Photo – Quonset Development Corp. A $3 million federal grant has been awarded to help support Quonset Development Corp.'s (QDC) freight-rail…

Congress names transportation committee leaders

Rail News Home Federal Legislation & Regulation 1/14/2019 Rail News: Federal Legislation & Regulation Congress names transportation committee leaders The U.S. House and Senate have established their committee and subcommittee leadership for the 116th Congress, including those related to transportation.In the House, U.S. Rep. Sam Graves (R-Mo.) will serve as the ranking member of the…

CP ‘takes exception’ to government probe into Vancouver rail service issues

Rail News Home Federal Legislation & Regulation 1/15/2019 Rail News: Federal Legislation & Regulation CP 'takes exception' to government probe into Vancouver rail service issues 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,…

House leader names transportation subcommittee ranking members

Rail News Home Federal Legislation & Regulation 1/18/2019 Rail News: Federal Legislation & Regulation House leader names transportation subcommittee ranking members House Transportation and Infrastructure Committee Ranking Member Sam Graves (R-Mo.) yesterday announced the ranking members of the panel’s six subcommittees for the 116th Congress. The ranking members and their subcommittees will be Rep. Rick…

KCS locomotive sports patriotic paint scheme to honor vets

Rail News Home Mechanical 11/13/2018 Rail News: Mechanical KCS locomotive sports patriotic paint scheme to honor vets The 2005 EMD SD70ACE locomotive is maintained at a Louisiana shop. Photo – KCS Kansas City Southern officials yesterday unveiled a locomotive with a patriotic paint scheme.The scheme demonstrates the company's pride in past and present U.S. military…

Caltrain OKs option for more electric cars, adopts fare policy

Rail News Home Mechanical 12/10/2018 Rail News: Mechanical Caltrain OKs option for more electric cars, adopts fare policy A rendering of the electric cars. Photo – Caltrain Caltrain’s board late last week unanimously approved the purchase of additional electric train cars to help address increasing ridership on the commuter-rail system.Using funds from the California State…