General Information
NS sets income, OR records
(Source: Railway Age January 24, 2019) Written by William C. Vantuono, Editor-in-Chief Norfolk Southern’s fourth-quarter and full-year 2018 financial results include record operating income for both periods, and a full-year record-low operating ratio of 65.4%. Net income was $702 million, and diluted earnings per share were $2.57 for 4Q18, and $2.67 billion and $9.51, respectively, for the full…
Read MoreNo pipeline, no problem as Canadian oil hits the railroads
(Source: Bloomberg, January 24, 2019) NEW YORK — Heavy Canadian crude isn’t getting any cheaper — but that hasn’t stopped companies from splurging on costly rail shipments. Rail-car loadings hit a record 356,000 barrels a day in the week ended Jan. 11, up from a daily average of 296,000 barrels in December, according to Genscape…
Read MoreHigh-speed rail helped keep housing affordable in Japan. Could it do the same in California?
(Source: CityLab, January 25, 2019) LOS ANGELES — Japan’s rail network allowed lower-wage workers to access exurban areas where housing development is less expensive. While areas close to stations experienced price increases, in general prefectures linked by rail were more affordable than they would have been without rail. A new study suggests that California high-speed…
Read MoreNTSB resumes normal operations after government shutdown
(Source: National Transportation Safety Board press release, January 28, 2019) WASHINGTON, D.C. — Employees of the National Transportation Safety Board returned to work Monday, resuming normal operations and developing plans to address the work that could not be accomplished during the partial shutdown of government. Of the 397 agency staff, 367 employees were furloughed, 26 employees…
Read MoreShort-line tax credit bill introduced in Senate
(Source: Progressive Railroading 01/28/2019) A bill that would permanently extend the 45G short-line tax credit has been introduced in the Senate, the American Short Line and Regional Railroad Association(ASLRRA) announced late last week. The lead sponsors of S. 203 are U.S. Sens. Mike Crapo (R-Idaho) and Ron Wyden (D-Ore.). A nearly identical bill, H.R. 510, was introduced Jan. 11…
Read More