April 26, 2015

NS retaliation again slapped by OSHA

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It is reasonable to wonder just how many millions of dollars in sanctions must be assessed against railroads by the federal government before they learn the lesson that employees are not the equivalent of number 2 pencils to be chewed on at will and discarded when convenient. In the most recent comeuppance applied to Norfolk [...]

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 [...]

CN, CP, CSX, KCS, NS, UP report 2011 earnings

CANADIAN NATIONAL Canadian National reported a 9 percent increase in profit for calendar-year 2011 versus calendar-year 2010. The CN calendar-year operating ratio of 63.5 percent was a slight improvement over the 63.6 percent operating ratio for calendar-year 2010. Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered [...]

NS hiring conductors, other crafts

Norfolk Southern said Nov. 3 it intends to hire 500 employees by year end, and add another 2,600 employees in 2012 to meet growing demand for service and to replace those retiring. Hiring will be for conductors, as well as other crafts, including freight car repairers, machinists, signal maintainers, and track maintenance workers. For more [...]

UP lone “revenue adequate” railroad for 2010

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WASHINGTON – The U.S. Surface Transportation Board has determined that only one major railroad – Union Pacific – was “revenue adequate” in calendar year 2010. A railroad is considered “revenue adequate” if it achieves a rate of return on net investment equal to at least the current cost of capital for the railroad industry. Revenue [...]

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 [...]