General Information
Biden budget would spark ‘second great rail revolution’
(Source: Progressive Railroading 04/19/2021) President Joe Biden last week presented to Congress his fiscal-year 2022 discretionary budget request, including $25.6 billion for the U.S. Department of Transportation (USDOT). The amount proposed for USDOT represents a 1.3% increase over FY2021 enacted funding. The budget proposal “sparks the second great rail revolution” by including $625 million for a new competitive…
Read MoreGOP lawmakers seek end to federal funds for California high-speed rail project
(Source: Progressive Railroading, April 16, 2021) A dozen Republican congressmen — led by House Railroads, Pipelines and Hazardous Materials Subcommittee Ranking Member Rick Crawford (R-Ark.) — are asking U.S. Transportation Secretary Pete Buttigieg to justify federal funding for California’s high-speed rail project. Full story: Progressive Railroading Monday, April 19, 2021
Read MoreUsing operating ratio to assess transportation companies has its pros and cons, say experts
(Source: Freight Waves, April 18, 2021) CHATTANOOGA, Tenn. — Operating ratio (OR) is a way for investors to compare the financials of one company against its peers. Investors use OR to gauge whether a company is generating sufficient profits. The formula to calculate OR is to divide a company’s operating expenses by its revenue. Put…
Read MoreUnion Pacific cuts almost 60 jobs in Palestine, Texas
(Source: KLTV, April 16, 2021) PALESTINE, Texas — Union Pacific notified workers at the Palestine Car Facility that 57 positions will be eliminated mid-June. Currently, the Palestine Union Pacific workforce is 60 people. Full story: www.kltv.com Monday, April 19, 2021
Read MoreBrightline on track to begin Las Vegas high-speed rail project
(Source: Progressive Railroading 04/14/2021) Brightline West is on schedule to start construction of a high-speed rail route between Las Vegas and Southern California in the second quarter, the company’s chief executive officer told a Las Vegas newspaper. Brightline West CEO Mike Reininger did not share with the Reno Gazette Journal a definitive date of groundbreaking on the 170-mile…
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