July 28, 2015

Class I railroads report 2nd quarter earnings

CSX Corporation announced July 16 second quarter net earnings of $535 million or $0.52 per share. For the second quarter of 2012, CSX earned $512 or $0.49 per share. According to these figures, CSX is up a profit of $23 million over last year’s earnings for the same quarter. CSX attributes these profits to overall [...]

3d quarter rail profits wrap-up

BNSF reported a 22 percent increase in profit for the third quarter 2012 versus third quarter 2011, citing improved intermodal (trailers and containers on flat cars) and automotive traffic. BNSF’s third quarter 2012 operating ratio of 68.3 percent was a significant improvement over the 71.7 percent for third quarter 2011. Operating ratio is a railroad’s [...]

IC yardmasters have tentative pact

UTU-represented yardmasters employed by Canadian National Railway’s Illinois Central Railroad have reached a new tentative agreement following mediation assistance from the National Mediation Board. A March tentative agreement was rejected by the membership, which will now vote, through Sept. 15, on the new tentative pact. Negotiations were led by UTU International Vice President Paul Tibbit [...]

OSHA reiterates zero tolerance for worker retaliation

Here we go again – or should we say, again and again and again and again. This time it is Canadian National’s Illinois Central Railroad and short line Chicago, Ft. Wayne & Eastern Railroad that have been hit with more than $650,000 in sanctions by the Department of Labor’s Occupational Safety and Health Administration for [...]

First quarter 2012 rail profits wrap-up

BNSF reported a 15 percent increase in profit forf the first quarter 2012 versus first quarter 2011, citing improved pricing and higher fuel surcharges. BNSF’s first quarter 2012 operating ratio of 74.4 percent was one percentage point lower than for the first quarter 2011. Operating ratio is a railroad’s operating expenses expressed as a percentage [...]

CN, CP, CSX, KCS, NS, UP report 2011 earnings

CANADIAN NATIONAL Canadian National reported a 9 percent increase in profit for calendar-year 2011 versus calendar-year 2010. The CN calendar-year operating ratio of 63.5 percent was a slight improvement over the 63.6 percent operating ratio for calendar-year 2010. Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered [...]

DM&IR, DW&P merged into Wisconsin Central

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Canadian National has completed the merger of Duluth, Missabe & Iron Range Railway and Duluth, Winnipeg & Pacific Railway into its Wisconsin Central subsidiary. CN said the merger, approved by the U.S. Surface Transportation Board, will make operations more efficient and customer focused. In October, in preparation for the merger, UTU represented conductors and brakemen [...]

UP lone “revenue adequate” railroad for 2010

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WASHINGTON – The U.S. Surface Transportation Board has determined that only one major railroad – Union Pacific – was “revenue adequate” in calendar year 2010. A railroad is considered “revenue adequate” if it achieves a rate of return on net investment equal to at least the current cost of capital for the railroad industry. Revenue [...]

Wrap up: Major rails’ 3d quarter 2011 profits

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BNSF reported a 9 percent improvement in profit for the third quarter 2011 versus the third quarter 2010. The third-quarter operating ratio of 71.7 percent was slightly higher than the 70.8 percent for third-quarter 2010. Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered by economists to be the [...]

Implementing agreement reached on 3 CN properties

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Some 430 UTU represented conductors and brakemen employed by Canadian National properties Wisconsin Central; Duluth, Winnipeg & Pacific  (DW&P); and Duluth Missabe and Iron Range (DM&IR) have ratified an implementing agreement — effective Jan. 1 — consolidating the three properties under a single agreement. The new agreement provides for four stand-alone general committees under the jurisdiction of [...]