General Information
Activist investor raises stake in “undervalued” CN, may seek board seat
(Source: BNN Bloomberg, August 30, 2021) MONTREAL — The investment firm founded by billionaire Christopher Hohn has increased its stake in Canadian National Railway Co., describing the railroad operator’s stock as “undervalued” and an “attractive investment opportunity” in a filing to the U.S. Securities and Exchange Commission on Monday. A regulatory filing also includes commentary…
Read MoreClass Is employed fewer people in July
(Source: Progressive Railroading 08/30/2021) U.S. Class Is as of mid-July employed 115,670 people, down 0.23% from mid-June and down 1.33% from employment levels in mid-July 2020, according to Surface Transportation Board data. The following five of six employment categories logged decreases last month versus June’s total: maintenance of equipment and stores, down 0.79% to 17,519 workers; maintenance…
Read MoreUnion Pacific applies PTC to ‘Big Boy’ steam locomotive
(Source: Progressive Railroading 08/27/2021) Union Pacific Railroad has equipped one of its legendary steam locomotives, the “Big Boy” No. 4014, with positive train control (PTC). In January, a new design approach emerged to enable UP to achieve its goal of equipping the 80-year-old locomotive with PTC, one of the industry’s newest technologies. PTC is designed to automatically stop…
Read MoreAAR, APTA seek COVID-19 waiver extensions
(Source: Railway Age, August 26, 2021) NEW YORK — The Association of American Railroads (AAR) and the American Public Transportation Association have separately petitioned the Federal Railroad Administration (FRA) for an extension of existing waivers of compliance from certain provisions of rail safety regulations that FRA granted last fall relating to COVID-19. Full story: Railway Age…
Read MoreU.S. rail traffic total slipped in Week 33
(Source: Progressive Railroading 08/26/2021) U.S. railroads hauled 501,273 carloads and intermodal units during the week ending Aug. 21, a 2.6% decrease compared with the same week last year, according to Association of American Railroads (AAR) data. Total carloads ticked up 0.4% to 230,754 units, while intermodal volume dipped 5.1% to 270,519 containers and trailers. Five of…
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