July 25, 2014

Class I railroads report 2nd quarter earnings

CSX Corporation announced record second quarter results with earnings coming in at $529 million or $0.53 per share. The second quarter of 2013 only saw $521 million or $0.51 per share. Revenue increased this quarter by seven percent to an all-time record of $3.2 billion. On the same token, the railroad saw record operating income [...]

Class I railroads report first quarter earnings

CSX reported to the public its first quarter 2014 earnings and dividend increase. The railroad announced net earnings of $398 million or $.040 per share. This is a decrease from last year’s first quarter reports of $462 million or $0.45 per share. However, revenue for the quarter grew two percent to $3 billion on volume [...]

UP begins work at N.M. facility

ALBUQUERQUE, N.M. – Union Pacific Corp. has begun operations at a massive new railroad facility in southern New Mexico near both the U.S.-Mexico border and El Paso, Texas. The Omaha, Neb.,-based railroad will use its newly constructed hub facility in Santa Teresa to transfer cargo between trains and trucks, as well as for refueling engines [...]

UP Chairman Jim Young dies

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James R. Young, who advanced to become Union Pacific Corp. (UNP) chairman, president and chief executive officer after starting with the railroad company in an entry-level finance position, died today. He was 61 years old. He died after a two-year battle with pancreatic cancer, the company said in a statement distributed by PR Newswire. Read [...]

UP names new railroad president, COO

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Union Pacific Corp. named Lance M. Fritz as president and chief operating officer of its Omaha-based railroad Thursday and said Jim Young has retired from his executive duties. Young took a leave of absence in March 2012 to undergo treatments for pancreatic cancer. Union Pacific said he retired Jan. 31 but will continue as non-executive [...]

$400M N.M. railroad project may open in 2014

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SANTA TERESA, N.M. — A $400 million Union Pacific railroad facility near a young New Mexico border town could open next year, according to the company. Union Pacific spokesman Aaron Hunt said Tuesday that construction near Santa Teresa is ahead of schedule and the facility could be operational in 2014. It had been slated to [...]

Class I railroads report 2nd quarter earnings

CSX Corporation announced July 16 second quarter net earnings of $535 million or $0.52 per share. For the second quarter of 2012, CSX earned $512 or $0.49 per share. According to these figures, CSX is up a profit of $23 million over last year’s earnings for the same quarter. CSX attributes these profits to overall [...]

UP engineer rescues puppy tied to tracks

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MECCA, Calif. — Last week, a 10-month-old poodle-terrier mix was found tied to the railroad tracks. An engineer spotted an old man walking near the railroad tracks and noticed that the man had left something behind. The engineer was able to stop the train in time using his emergency brakes and discovered the pooch still [...]

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 [...]

Cubs not alone with problems in Chicago

CHICAGO — Newspapers and television and radio stations here June 14 were asking Union Pacific, “Is this any way to run a railroad?” after a shortage of UP engineers caused the cancellation of six morning Metra commuter trains and inconvenienced thousands of passengers trying to reach their jobs here. Metra pays UP to operate and [...]