General Information
Amtrak projects $700 million loss due to COVID-19
(Source: Progressive Railroading 04/24/2020) By Vesna Brajkovic, Associate Editor Amtrak expects to lose $700 million in adjusted operating earnings as a result of the COVID-19 pandemic, Amtrak officials said yesterday in a teleconference with reporters. Chairman Anthony Coscia said losses could be climb higher as ridership drops to 95 percent across the network. Earlier this month, Amtrak received…
Read MoreCABT to governors: Return to lower truck weights after the pandemic
(Source: Progressive Railroading 04/24/2020) Law enforcement leaders of the Coalition Against Bigger Trucks (CABT) have asked nation’s governors to ensure that truck weight limits will return to lower “safe” levels after the coronavirus pandemic crisis passes. In response to the pandemic, Congress granted governors the authority to temporarily grant increases in weight limits for trucks operating on…
Read MoreTeamsters survey reveals worker concerns with PPE, lack of info from management
(Source: International Brotherhood of Teamsters press release, April 23, 2020) WASHINGTON, D.C. — Amid the COVID-19 pandemic that has spread and intensified across the United States in the last few weeks, hospital workers say that they are still being forced to ration protective gear and it is hard to get vital information about the workplace…
Read MoreUP expects Q2 volumes to fall 25 percent
(Source: Progressive Railroading, April 22, 2020) Union Pacific Railroad today posted first-quarter net income of $1.5 billion, or $2.15 per diluted share, compared to $1.4 billion, or $1.93 per diluted share, a year ago. UP officials project second-quarter carload volumes will be down 25 percent compared to Q2 2019. In addition, capital expenditures in 2020…
Read MoreRailroads unclear what’s around the bend for U.S. economy
(Source: Bloomberg, April 24, 2020) NEW YORK — Long before talk of driverless trucks, 3-D printing and drone delivery, old-school economic oracles from Warren Buffett to Alan Greenspan watched the railways for early signs of an oncoming U.S. recession. This freight train, however, arrived with little warning. Full story: Bloomberg Friday, April 24, 2020
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