General Information
Freight-rail traffic trend reflects uncertain times
(Source: Progressive Railroading 04/23/2020) U.S. freight-rail traffic fell 23.3 percent to 403,283 carloads and intermodal units during the week ending April 18 compared with traffic during the same week last year, according to the Association of American Railroads (AAR). U.S. railroads posted 189,598 carloads, a 27.5 percent decline, and 213,685 intermodal containers and trailers, a 19.1 percent…
Read MoreTrain crew van driver deals with COVID-19
(Source: Sandusky Register, April 21, 2020) PERKINS TWP., Ohio — Kevin Jaycox has a message for Ohioans clamoring for a return to normalcy amid the coronavirus outbreak: Pump the brakes. Jaycox has worked in eight states since November and has been quarantined twice. His job is with Hallcon, a Kansas City-based firm that handles transportation…
Read MoreUnion Pacific reports Q1 2020 financial results
(Source: Union Pacific press release, April 23, 2020) OMAHA, Neb. — Union Pacific Corporation today reported 2020 first quarter net income of $1.5 billion, or $2.15 per diluted share. This compares to $1.4 billion, or $1.93 per diluted share, in the first quarter 2019. “Against the backdrop of the emerging COVID-19 pandemic and a challenging volume…
Read MoreReport: UP to cut executive salaries, require nonunion workers to take unpaid leave
(Source: Progressive Railroading 04/22/2020) Union Pacific Corp.‘s senior executives will take a 25 percent salary cut and nonunion workers will be required to take unpaid leave, as the Class I responds to a drop in volume due to the COVID-19 pandemic, Dow Jones Newswires reported according to Morningstar.com. The executive salary reductions will apply from May…
Read MoreHeadcount levels fall nearly 12% in March at U.S. Class I operations
(Source: Freight Waves, April 21, 2020) CHATTANOOGA, Tenn. — The number of employees working for the U.S. operations of the Class I railroads dropped 11.9% in March to 127,867 employees, according to data from the Surface Transportation Board (STB). The percentage change compares March 2020 with March 2019. The number of train and engine service…
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