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December 4, 2012
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Daily news coverage of the railroad industry

  Industry Update 
  • Column: Rail drives economic growth, job creation
    Freight railroads in the U.S. will spend about $23 billion in private funds this year to enhance the country's rail network, and this is a boon to Minnesota and the nation, writes Randy Maluchnik, a county commissioner and 2012 president of the Association of Minnesota Counties. There are 4,538 route miles and 22 freight railroads in the state and more than 4,000 residents employed by rail. "We have a rail industry that is not only thriving, but driving economic growth and job creation here at home and nationwide," writes Maluchnik. "For Minnesota and the nation, our economic future truly is riding on rail." The Journal (International Falls, Minn.) (12/3) LinkedInFacebookTwitterEmail this Story
  • Class I's partner to increase U.S.-Mexico trading
    CSX, Kansas City Southern, Norfolk Southern and Union Pacific are partnering to increase cross-border trading between the U.S. and Mexico. These partnerships are a strategic move to reach areas not usually served by the companies. "Anybody with an opportunity to position themselves in this marketplace and chooses not to will probably regret it sometime in the next five to 10 years because cross-border market growth is going to outstrip probably any growth in any other [intermodal] transportation," said Jason Seidl, Dahlman Rose analyst. Reuters (12/4) LinkedInFacebookTwitterEmail this Story
 
  • Other News
  Infrastructure & Economic Spotlight  
  • White House rejects GOP plan to avert "fiscal cliff"
    The White House turned down a proposal by House Republicans aimed at averting the "fiscal cliff" because it didn't include tax increases for the wealthiest Americans. "The Republican letter released today does not meet the test of balance," said White House Communications Director Dan Pfeiffer. "In fact, it actually promises to lower rates for the wealthy and sticks the middle class with the bill." Reuters (12/3), The Washington Post (12/3), Bloomberg (12/3) LinkedInFacebookTwitterEmail this Story
  • Private funds could cover most of Calif.'s HSR project costs
    California is looking for as much as $55.1 billion in private funding for its $68.4 billion high-speed rail project, according to Gov. Jerry Brown's administration. The project is looking at sovereign wealth funds, endowments and pensions. "We have active interest in and outreach to sovereign funds and foreign consortia that are looking at us," said Jeffrey Morales, CEO of the California High-Speed Rail Authority. Bloomberg (12/3) LinkedInFacebookTwitterEmail this Story
  • Other News
  Energy & Environmental Watch 
  SmartQuote 
It is astonishing what force, purity and wisdom it requires for a human being to keep clear of falsehoods."
--Margaret Fuller,
American journalist and women's rights activist


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