September 2008 Archive

September 30, 2008

STB Approves CP Acquisition of DM&E

(12:35 p.m. CDT) The Surface Transportation Board announced Sept. 30 that it has approved the proposed acquisition of control by the Canadian Pacific Railway of the Dakota, Minnesota & Eastern Railroad Corporation (DM&E) and its wholly owned railroad subsidiary, the Iowa, Chicago & Eastern Railroad Corporation (IC&E), subject to a number of Board-imposed conditions. More...

NS, Soo Earned Cost of Capital in '07

(10:55 a.m. CDT) Only two of seven Class freight railroads had returns on investment exceeding the cost of capital last year - Soo Line (including Canadian Pacific U.S. affiliates), with a return of 15.25 percent, and Norfolk Southern, with an ROI of 13.55 percent. More...

September 22, 2008

Rail Materials and Supplies Prices Jump 10.5%

(03:51 p.m. CDT) The federal agency said the increase going into this year's fourth quarter was the largest since the third quarter of 1991. More...

September 19, 2008

Dog Rescue Has Happy Ending

(12:53 p.m. CDT) Locomotive Engineer Richard Carman, Jr., was running his 110-car train through Little Rock, Ark., when he observed a small dog between the rails. He appeared to be caught in a switch. More...

September 18, 2008

Metrolink Collision Prompts PTC Legislation

(09:51 a.m. CDT) In response to the Metrolink collision with a freight train Sept. 13 in Chatsworth, Calif., California's Democratic U.S. senators Diane Feinstein and Barbara Boxer introduced legislation that would mandate positive train control systems by 2012 on "high-risk" rail routes shared by freight and passenger operators. More...

Norfolk Southern and BLET Reach New Agreement

(09:26 a.m. CDT) Norfolk Southern announced Sept. 16 that the railroad and the Brotherhood of Locomotive Engineers and Trainmen (BLET) have reached a new agreement that will continue to link engineer compensation to company performance through 2014. More...

September 16, 2008

Court Ruling Allows TCI/3G to Seat Four on CSX Board

(04:10 p.m. CDT) The U.S. Court of Appeals for the Second Circuit in New York upheld a lower court's ruling Sept. 15 to allow the Children's Investment Fund Management L.L.P. (TCI) and 3G Capital Partners Ltd. to vote their shares at CSX Corp's annual shareholders meeting, which was held June 25. As a result, all four of TCI/3G's nominees that won election at the meeting soon will be seated on the board. More...

September 12, 2008

Weather Impacts Rail Freight Traffic to Start September

(10:25 a.m. CDT) At least partly because of weather-related issues (Hurricane Gustav at the beginning of the week and Tropical Storm Hanna later in the week), freight traffic on U.S. railroads was off during the first week of September compared to the corresponding week last year. More...

September 11, 2008

UP Named a Top 50 Company to 'Launch a Career'

(12:40 p.m. CDT) BusinessWeek has named Union Pacific among the top 50 "Best Places to Launch a Career." More...

Former Deployed Soldier Expresses Gratitude

(09:30 a.m. CDT) Recently completing his last tour in Iraq, Sgt. Russell Nissen, thermite welder, presented Chairman Jim Young with the American flag flown over his military base, thanking UP for the support he and his family received throughout his deployment. More...

September 10, 2008

FRA Proposes Rule to Generate More Detailed Train Accident Info

(05:05 p.m. CDT) The Federal Railroad Administration (FRA) proposes to revise federal safety regulations to require railroads to provide new and more detailed information about train accidents, grade crossing incidents, and injuries and illness that occur on rail property. More...

September 5, 2008

Letter Eulogizes Fatally Injured Train Crew

(12:25 p.m. CDT) The Corporate Relations group received this letter from a citizen following the Aug. 29 collision between a UP train and a propane tanker that failed to yield at a crossing near Medford, Okla. Locomotive Engineer Richard Pendarvis and Conductor Larry Williams were fatally injured. More...

September 4, 2008

Flames Engulf Texas Bridge

(04:35 p.m. CDT) A fire that engulfed UP's double-track bridge over the San Pedro Creek in San Antonio on Sept. 2 remains under investigation today. More...

U.S. Rail Traffic Down Slightly in August

(04:15 p.m. CDT) U.S. railroads originated 1,340,387 carloads of freight during the month, down 0.5 percent from August 2007. Railroads also originated 941,500 intermodal trailers and containers in August 2008, 1.7 percent fewer than August 2007. More...

September 3, 2008

CSX Measures Impact of Hurricane Gustav

(01:45 p.m. CDT) CSX said Sept. 3 that no significant damage occurred to any of CSX's bridges or terminals as the result of Hurricane Gustav, but the company did find at least 21 miles of damaged track, beginning about 10 miles east of New Orleans, which will take at least two weeks to repair. More...

Rail Fatalities Up Slightly in First Half

(01:35 p.m. CDT) Preliminary figures released by the Federal Railroad Administration (FRA) show railroads reported 391 fatalities in this year's first half, up 1.6 percent from the first half of 2007. More...