November 29, 2014

Wrap up: Major rails’ 1st quarter 2011 profits

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 [...]

CSX profit jumps again in first quarter

CSX profit jumped 30 percent during the first quarter 2011 versus the first quarter 2010, the railroad reported April 19. This comes on the heels of a 35 percent improvement in operating profit for calendar year 2010. The CSX employee headcount rose in March to 30,464 employees, up 3 percent from March 2010, the railroad [...]

Watco seeking NS, CSX track in Alabama

Shortline holding company Watco is seeking regulatory approval to acquire 43.6 miles of track from Norfolk Southern in Alabama between Maplesville and Autauga Creek, and 10.1 miles of track between Autauga Creek and Montgomery for creation of a new shortline railroad. The new shortline would be named Autauga Northern Railroad. Watco currently controls 22 shortline [...]

Railroads 2010: How sweet it was

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 [...]

Supreme Court to hear attack on FELA

WASHINGTON — The Supreme Court will hear an argument by CSX in 2011 challenging standards for rail workers bringing lawsuits under the Federal Employers’ Liability Act (FELA), reports Bloomberg. The decision could affect future FELA cases. The specific case to be heard, reports Bloomberg, involves a CSX engineer who won a $184,250 FELA award for [...]

UTU seeks collaborative safety, security plan

By UTU International President Mike Futhey The recent tragic, senseless and violent murder in New Orleans of CSX conductor Fred Gibbs, and wounding of the train’s engineer (a potential witness whose name is being withheld), accelerates an already urgent need for better workplace safety and security measures for rail, transit and motor coach facilities and [...]

Who owns the railroads

By Assistant President Arty Martin andGS&T Kim Thompson Among the most difficult challenges facing us in 2009 arrives in November, when we exchange Railway Labor Act Section 6 notices with the carriers — the list of each side’s demands for the next collective bargaining round. Our national rail contract is open for renewal on Jan. [...]

Leadership message: Jan. 18

Brothers and Sisters: We know our rail members employed by BNSF, CSX, KCS, NS and UP are anxious about the status of talks with the National Carriers’ Conference Committee (NCCC). The talks resume Jan. 22 in Jacksonville, Fla. It has been a year since the UTU and the NCCC held negotiations; and, in the interim, [...]