Entries Tagged as ‘Industry News’

Thursday, November 30, 2006 at 1:38 pm

Canadian Pacific Holiday Train

Canadian Pacific’s Holiday Train gets under way this week, and the announcement of that fact has generated all sorts of media attention, as you might expect. Canadian Press has a long piece (mirror), and the cross-Canada version is getting local coverage, too (for example, Cochrane and Edmonton, Alberta). It’ll pass through three communities in my […]

Tuesday, November 28, 2006 at 2:06 pm

Working on the Railroad

Want to work for the railroad? The Associated Press reports that, thanks to industry growth and boomers retiring, the railroads are on a hiring spree. The pay is good — $40,000 in the first year, for a job that doesn’t require anything beyond a high school diploma; more for an engineer with a few years’ […]

Monday, November 27, 2006 at 8:28 am

BNSF’s Citizens for Rail Security

Railfans might be seen as a nuisance by some, but until September 11 they were probably seen as harmless. Since then, though, they’ve complained about being harassed by overzealous security officers who think that a train nut along a rail line taking photographs is kind of suspicious. Railfans have countered that, far from being a […]

Wednesday, November 15, 2006 at 5:48 pm

RailAmerica Taken Over, Cofounder Starts Over

RailAmerica, the holding company that operates a number of short lines across North America (including, for example, the Ottawa Valley Railway in my neck of the woods; see their system map), has agreed to be taken over by investment firm Fortress Investment Group LLC, for nearly $640 million. The deal is worth $1.1 billion when […]

Thursday, November 9, 2006 at 9:39 pm

Germany to Privatize Rail Network

The German government will partially privatize Deutsche Bahn, the state railway company. In a compromise reached this week between the Social Democratic (SPD) and Christian Democratic (CDU) parties, who share power under a coalition, 49 per cent of DB will be offered as public shares, in stages, beginning in 2008 or 2009. The CDU had […]

Tuesday, November 7, 2006 at 11:28 am

Holiday Trains

I don’t think that special trains at the holidays are a new thing, but using the trains to raise funds for food banks and charities is a more recent innovation. Both Canadian Pacific and Kansas City Southern run holiday trains; there may well be others in the same vein. Canadian Pacific’s train is older (it […]

Tuesday, November 7, 2006 at 8:22 am

Fortune on Rail Stocks, Norfolk Southern

Fortune has a short article online that discusses the rise in price of railroad stocks in general — the big four have been up 25 per cent since mid-August — and the performance of Norfolk Southern in particular. The article also refers to, and cites anecdotes from, Rush Loving’s book on the recent history of […]

Wednesday, November 1, 2006 at 9:10 pm

Industry News Roundup: NS, KCS, VIA

Norfolk Southern reported third-quarter earnings last week: net income was $416 million, or $1.02 per share; from railway operations, income of $715 million (before interest and taxes, thus the discrepancy) on revenues of $2.4 billion. It was Kansas City Southern‘s turn yesterday: net income of $26.4 million (32¢/share) on revenues of $415.7 million. Net income […]

Monday, October 30, 2006 at 7:22 pm

Rail Customers Fume About Fuel Surcharges

Railroad customers can be a cranky bunch to start with, especially when they feel the railroads are gouging them (for example, when rates are higher if the railroad has a monopoly, but lower if there’s competition). Now customers are complaining about a lack of transparency in fuel surcharges — a fact of life in many […]

Monday, October 30, 2006 at 5:30 pm

CP 3Q Results: Coal Down 25%

Last week, Canadian Pacific reported third-quarter net income of $168 million ($1.06 per share) on revenues of $1.12 billion, down by $42 million compared with 3Q 2005 due to foreign exchange and a one-time charge. Coal revenues were down sharply — 25 per cent — but everything else was up and more than made up […]