March 2, 2015

Railroads reap record profits despite decline in traffic

The nation’s four major railroads are still carrying less freight than they were before the recession. But the last decade has been an exhilarating ride for them nonetheless — an era of growing profits, soaring stock prices and ambitious investments. For Jacksonville-based CSX Corp., freight volume has dropped 7 percent since 2004. Meanwhile, its shares [...]

KCS first-quarter profit nearly doubles

Kansas City Southern’s first-quarter 2011 profit was almost double that of the first quarter 2010, the railroad reported April 22. This followed an 82 percent increase in profit for calendar-year 2010. The employee headcount remains constant at 6,080. The railroad did not indicate whether it would be increasing its headcount in 2011. The KCS first [...]

Record profits, but UP opposes PTC costs

On the same day (Jan. 20) Union Pacific reported record fourth quarter and record calendar year 2010 profits, UP Chairman Jim Young said he is headed to Washington to meet with President Obama’s economic advisers to oppose a congressional mandate that railroads implement crash-avoidance positive train control by year-end 2015. UP told investors its 2010 [...]