April 18, 2014

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

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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

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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 [...]

CN hostlers get new five-year deal

SMART Transportation Division-represented hostlers employed by the Canadian National Railway have ratified a new five-year agreement by a unanimous majority. The agreement provides for wage increases, back pay and health and welfare benefits that mirror the 2011 UTU National Agreement. UTU International Vice-President Dave Wier, who assisted with the negotiations, congratulates GO 436 General Chairperson [...]

CN’s Creel becomes CP president, COO

Canadian Pacific announced the appointment of Keith Creel as president and chief operating officer, effective Feb. 5. E. Hunter Harrison will remain CP’s chief executive officer. Read the complete story from The Globe and Mail.

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 [...]

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 [...]