ASSOCIATED PRESS BY JOSH FUNK Fewer shipping container deliveries this spring hurt CSX railroad’s second-quarter profit and offset a sharp increase in shipments of automobiles, but executives remain optimistic about the economy. CSX said Thursday that it earned $996 million, or 49 cents per share, during the second quarter. That’s down 15% from a year ago […]
Subpar rail service interferes with US’ ability to compete internationally, Oberman says CHICAGO — The Class I railroads must increase their head count levels because doing so not only will bolster rail service but benefit the U.S. economy overall, Surface Transportation Board Chair Marty Oberman said to a crowd of rail shippers and rail employees […]
By Bill Stephens for trains.com New management incentives for service and growth are an encouraging sign Well, this isn’t a pretty picture. From 2013 to 2022 U.S. industrial production eked out 3% growth, overall economic output increased 57%, and truck tonnage grew 26%. Yet volume on the big four U.S. railroads increased by an average of just 2% […]
By Bill Stephens For trains.com JACKSONVILLE, Fla. — CSX Transportation has reached a tentative agreement with the Sheet Metal, Air, Rail and Transportation Workers-Transportation Division B&O union to provide trainmen and conductors with paid sick leave benefits. Pending ratification by SMART-TD B&O members, the agreement will increase the number of CSX operating employees with paid […]
By Chris Isidore, for cnn.com Union Pacific, one of the major freight railroads that successfully fought off union demands for paid sick days for workers during contentious labor negotiations in 2022, reported another year of record earnings Tuesday. The company, along with CSX, Norfolk Southern and Burlington Northern Sante Fe, narrowly avoided a strike by its unionized workers […]
Railroads are prioritizing payments to Wall Street stockholders over everything else, including serving the public interest. By John Cassidy for newyorker.com In our click-driven world, the threatened strike at America’s freight railroads, and President Biden’s intervention to prevent it, represents last week’s news. But there are two groups for which the averted strike is still […]
By Lori Ann LaRocco for cnbc.com KEY POINTS The Surface and Transportation Board is calling Union Pacific management including CEO Lance Fritz to appear at hearings December 13-14 about the freight railroad’s use of embargoes. The STB, an independent federal agency with oversight of surface transportation, wants to question Fritz and other Union Pacific top executives about […]
By Lori Ann LaRocco for cnbc.com KEY POINTS SMART-TD, one of the largest railroad labor unions, voted down the tentative agreement with rail management, raising the likelihood of a strike in December. The BLET, the other largest union which represents engineers, voted to ratify the labor deal but said it will honor the picket line. […]
Oberman: While railroads are warning about a lockout or strike, their deep reductions in staff have brought about a mini-shutdown By John Kingston for freightwaves.com The chairman of the federal Surface Transportation Board got up Wednesday in front of a room full of railroad executives, analysts and customers and ripped the industry to shreds. At […]
By David Shepardson for reuters.com A group representing major railroads and a union that voted to reject a new contract said Wednesday they had agreed to extend a potential strike deadline until at least Dec. 4. The National Carriers’ Conference Committee (NCCC) and the International Brotherhood of Teamsters (BMWED) that represents 11,000 workers extended the […]