OTTAWA – Some 4,800 striking Canadian Pacific Railway locomotive engineers, conductors and rail traffic controllers represented by the Teamsters Canada Rail Conference are returning to their jobs June 1 following final passage by Parliament of back-to-work legislation. The strike in Canada began May 23. The legislation provides for appointment of an arbitrator, who will have [...]
Rail fatality in N.D.; amputation in Missouri
May 29, 2012
During the month of May, one UTU member was killed in North Dakota in a rail switching accident, another was murdered on his bus route in Los Angeles, and another lost a foot in Missouri in a yard switching accident. On CP Rail (Soo Line) in Kenmare, N.D., conductor Robert J. Glasgow, 38 (UTU Local 887, [...]
Confidential Close Call Reporting proving its worth
May 15, 2012
It’s confidential and no-fault. And the result, according to the Federal Railroad Administration, is a significant reduction in rail workplace derailments that too often lead to serious injury and death — plus, as a bonus, better labor/management relationships and improved operational performance. We’re talking about four pilot projects called Confidential Close Call Reporting System (C3RS), whose core value [...]
UP lone “revenue adequate” railroad for 2010
November 4, 2011
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
October 26, 2011
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 [...]
Wrap up: Major rails’ 1st quarter 2011 profits
May 2, 2011
Most major North American freight railroads reported strong earnings for the first quarter 2011 versus first quarter 2010. Following is a wrap-up for the quarterly earnings reported by the railroads to the investment community. Not included is BNSF, which is privately held and does not report its financial results to the investment community. Mention is [...]
Winter weather jolts CP first-quarter earnings
April 22, 2011
Canadian Pacific Railway reported a sharp drop in profit for the first quarter 2011 compared with first quarter 2010, citing severe winter weather. CP said its 15,143 employee count increased by 613 during the quarter, but gave no indication of whether it would add employees the remainder of 2011. First quarter 2011 train speeds fell [...]
Railroads 2010: How sweet it was
January 28, 2011
How did major railroads perform in 2010? Reviewing their calendar-year and fourth-quarter profit statements, one wouldn’t know they were operating in the midst of a nationwide recession. Profits soared, stock dividends were raised and operating ratios improved. (Operating ratio — a railroad’s operating expenses expressed as a percentage of operating revenue — is considered by [...]
