October 25, 2014

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 [...]

Former NFL player secure in NS cab

Football season is long over. The New York Jets never made it to the Super Bowl. National Football League players are locked out by their owners. The upcoming football season could be in jeopardy. And how about Norfolk Southern conductor and former Jets defensive back Keith Fitzhugh, who last fall turned down a Jets’ offer [...]

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 [...]

NS first-quarter profit leaps 26 percent

Norfolk Southern reported a 26 percent increase in profit for first quarter 2011 versus first quarter 2010. This follows a 45 jump in NS profit for calendar-year 2010. NS CEO Wick Moorman said the railroad intends to add some 1,100 new workers during 2011, returning employment to the same level as in 2008. NS operating [...]

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 [...]

UTU conductor double-amputee in NS mishap

Larry McVay; McVay; McVay, Larry

UTU conductor double-amputee in NS mishap Norfolk Southern conductor and UTU Local 768 member Larry McVay, age 43, lost an arm and a leg in a switching accident near Lafayette, Ind., the morning of Jan. 3, and is recovering in an Indianapolis hospital. A UTU member since Dec. 1, 2007, McVay is a resident of [...]

Pigskin to conductor: ‘It’s job security’

Keith Fitzhugh; football player

Keith Fitzhugh is a conductor trainee on Norfolk Southern’s Atlanta North District. He could be playing football with the New York Jets. If you think trading a National Football League playbook for an operating employee’s rulebook is something akin to carrying the ball toward your own goal line, think again. The 24-year-old Fitzhugh — who [...]

UTU, BLET oppose NS Mich. lease deal

A Norfolk Southern sought lease of trackage to a newly created short line railroad in Michigan is being opposed by the UTU and the Brotherhood of Locomotive Engineers and Trainmen, which represent affected train and engine workers. The U.S. Surface Transportation Board (STB) is being asked by the UTU and the BLET to revoke an exemption [...]