February 6, 2016

Class I’s release fourth quarter and annual earnings

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CSX Corporation announced a solid fourth quarter and full-year financial performance for 2015. The railroad announced declines for the fourth quarter and mixed financial results for the full year. CSX reported in a press conference that net earnings declined five percent to $466 million or $0.48 per share (down two percent), down from last year’s [...]

Groundbreaking for CSX yard in Pittsburgh

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The Pittsburgh Business Times reported that local and state officials recently gathered for the CSX official groundbreaking ceremony in McKees Rocks, Penn. The $60 million, 70-acre intermodal facility will be built on the site of the former Pittsburgh Intermodal Rail Terminal. Click here to read the entire article.

CSX joins court appeals against ECP brakes

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A week after railroads lost an appeal against the U.S. Department of Transportation’s new brake requirements, CSX Corp. (NYSE: CSX) has reinforced its stance against the new program. The new brake rules were issued by the DOT in May, and included phasing in tougher tank car standards and new electronically controlled pneumatic braking systems on [...]

Tenn. railroads turn to chemicals as coal declines

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Thousands of rail tank cars roll through the cities, suburbs and rural areas of East Tennessee day and night, moving chemicals and energy products desperately needed by a variety of industries that provide thousands of jobs throughout the region. The commodities these tank cars carry are wide and varied, almost a who’s who of the [...]

Class I railroads announce third quarter 2015 earnings

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In a press release Oct. 14, 2015, CSX announced record financial results for the third quarter of 2015. Net earnings for the railroad came in at $507 million for the quarter, compared to the $509 million for the same period last year, which translates into a third quarter record of $0.52 per share, as compared [...]

CSX tracks may be route to commuter rail’s future

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TAMPA, Fla. — Is the solution to the Tampa Bay area’s mass transit woes already crisscrossing Hillsborough, Pasco and Pinellas counties? That’s a question local planners will begin considering in the weeks and likely years to come as Jacksonville-based CSX Corp. considers selling off two rail lines that could conceivably be operated as commuter routes. CSX [...]

CSX to close mechanical shops in Ky.

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JACKSONVILLE, Fla. - CSX employees are enduring another round of layoffs, this time at the company’s mechanical shops in Corbin, Kentucky. CSX announced Tuesday that the shops will be closed, affecting about 180 active employees at the facilities. All affected employees at Corbin will receive at least 60 days of pay and benefits, CSX said in [...]

Former CSX executive suffers heart attack

United Continental Holdings Inc’s  new chief executive officer has suffered a heart attack, a person familiar with the matter said on Friday, barely a month after he took on the job of improving the airline’s profitability and reputation. The board at United – the No. 2 U.S. carrier by capacity – was informed “promptly” after [...]

Sit tight at crossings as coal train lengths double

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Motorists’ wait time at U.S. rail crossings may double as CSX Corp. hooks trains together to boost efficiency amid plunging demand for coal shipments. Bulk cargo is the latest focus in CSX’s effort to improve productivity. Getting more cars behind the locomotives is one way to do that — even if a longer, heavier load spends [...]

CSX to reduce operations in Erwin, Tenn.

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JACKSONVILLE, Fla. - As CSX works to match its resources to a changing business environment, the company today announced the reduction of train operations at Erwin, Tennessee. The decision, the result of significantly reduced coal traffic through the region, includes closing a locomotive service center, project shop and car shop, and eliminating switching operations at the Erwin yard. Approximately [...]