September 3, 2014

Class I railroads report 2nd quarter earnings

CSX Corporation announced record second quarter results with earnings coming in at $529 million or $0.53 per share. The second quarter of 2013 only saw $521 million or $0.51 per share. Revenue increased this quarter by seven percent to an all-time record of $3.2 billion. On the same token, the railroad saw record operating income [...]

Feds order BNSF, CN to report on grain progress

U.S. railroad regulators have ordered BNSF Railway and Canadian Pacific Railway to hasten shipments of grain from a backlog that has frustrated farmers and people who run grain elevators. The Surface Transportation Board, in a decision late Friday, required the two railroads to publicly disclose every week plans to address the delays, which have forced [...]

Sen. Durbin to CN: ‘Keep your promises’

Durbin

WASHINGTON – In response to concerns raised by communities across Illinois, U.S. Senator Dick Durbin (D-IL) June 3 called on Canadian National to address ongoing safety and traffic issues including: Canadian National’s lack of cooperation with the State of Illinois and Amtrak, which has hindered efforts to expand rail service in Northern Illinois between Galena [...]

Grand Trunk ordered to pay conductor $244,000

OSHA logo; OSHA

CHICAGO – Grand Trunk Western Railroad Co. has been ordered to reinstate a conductor and pay him more than $244,000 in back wages and damages following an investigation by the U.S. Department of Labor’s Occupational Safety and Health Administration. OSHA found that the company was in violation of the whistleblower provisions of the Federal Railroad [...]

Class I railroads report first quarter earnings

CSX reported to the public its first quarter 2014 earnings and dividend increase. The railroad announced net earnings of $398 million or $.040 per share. This is a decrease from last year’s first quarter reports of $462 million or $0.45 per share. However, revenue for the quarter grew two percent to $3 billion on volume [...]

CN in Canada receives strike notice from conductors

CN_red_logo

TORONTO – Canadian National Railway Co said on Wednesday that the union representing roughly 3,000 of its train conductors and yard operation workers in Canada has given the company notice of its intention to strike as early as Saturday. The strike notice comes just days after the tentative labor contract reached last year with CN, [...]

CN derailment in Minn. sends two to hospital

TWO  HARBORS, Minn. – Authorities are investigating what caused a train to derail just south of Two Harbors, Minn., Thursday (Dec. 5) afternoon. The Lake County Sheriff’s Office, along with Two Harbors Police, the Minnesota DNR and rescue squads were called to the incident around 1:15 p.m. Read the complete story at Northlands Newscenter. This [...]

CN hiding derailment, falsifying stats, employees say

CN_red_logo

A CBC News investigation has unearthed allegations that suggest CN Rail has routinely under-reported minor derailments and misrepresented its yard efficiency measurements across Canada and the U.S. The CBC probe was prompted by a whistleblower lawsuit launched in the U.S. by former CN employee Tim Wallender who claims in court documents that CN covered up [...]

CN fuel cars derail, explode near Edmonton

EDMONTON, Alberta – A Canadian National Railway train carrying liquefied petroleum gas and crude oil has derailed and exploded about 80 kilometres west of Edmonton, prompting an evacuation in the tiny community of Gainford. Parkland County Emergency Services says it received a call about the accident involving a westbound train around 1 a.m. MT Saturday. [...]

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 [...]