General Information
BNSF posts Q1 revenue decline on lower volumes
(Source: Progressive Railroading 05/05/2020) BNSF Railway Co. yesterday reported first-quarter net income fell 5 percent to $1.19 billion, operating income rose 2.5 percent to $1.8 billion and total revenue declined 6 percent to $5.4 billion compared with first-quarter 2019’s results. The revenue decrease was primarily due to a 5 percent decrease in unit volume and a…
Read MoreUnion Pacific’s betrayal of small-town America
(Source: National Review, May 5, 2020) NEW YORK — At the start of the 19th century, America was a rural society that depended on boats and horses for its transportation needs. A century later, it was the greatest industrial power in the world. In the interim, the railroad had carried the industrial revolution across America,…
Read MoreCommentary: When will PSR-driven volume and service growth emerge?
(Source: Freight Waves opinion column by Jim Blaze, May 4, 2020) CHATTANOOGA, Tenn. — This week’s strategic question is “What are the bold new benefits shippers can expect now that the freight railways are super-efficient?” Full story: Freight Waves Monday, May 4, 2020
Read MoreWarren Buffett’s Berkshire swings to massive $50 billion net loss
(Source: Reuters, May 2, 2020) OMAHA, Neb. — Warren Buffett’s Berkshire Hathaway on Saturday posted a record net loss of nearly $50 billion as the coronavirus pandemic pummeled its common stock investments, but operating profit rose even as COVID-19 hurt its businesses. Berkshire’s first-quarter net loss totaled $49.75 billion, or $30,653 per Class A share,…
Read MoreUnion Pacific lays off De Soto car shop employees
(Source: My Leader Paper, May 1, 2020) FESTUS, Mo. — The Union Pacific railroad car shops in De Soto, one of the oldest and largest employers in Jefferson County, informed its hundreds of employees Thursday afternoon (April 30) that they were being laid off, effective immediately but subject to a potential recall on June 1,…
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