October 30, 2014

Canadian Pacific Railway cutting Minn. jobs

Canadian Pacific Railway has furloughed approximately 30 workers in recent months from its operation in Thief River Falls, Minn., according to union officials. The job cuts are among roughly 90 furloughs at CP sites across Minn. that the United Transportation Union has counted since October 2012, part of what the union says are aggressive job [...]

Oil sands rail terminal to be built in Canada

Canadian midstream company Gibson Energy Inc and logistics provider U.S. Development Group (USDG) said on Tuesday they will build a 140,000-barrel-per-day terminal in Hardisty, Alberta, to ship oil sands crude by rail. The project would be the largest terminal for western Canada, where demand to move crude by rail has been gathering pace as producers [...]

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 [...]

Parliament ends 9-day CP Railway strike

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

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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

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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 [...]

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 [...]

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 [...]

Wrap up: Major rails’ 2d quarter 2011 profits

Canadian National: Canadian National Railway July 25 reported an 8 percent increase in profit for the second quarter 2011 versus the second quarter 2010, citing a 10 percent increase in intermodal loadings (trailers and containers on flat cars) and a 14 percent increase in intermodal revenue. CN’s second quarter 2011 operating ratio of 62.3 percent [...]