Locomotive Spare Parts and Inventory

Norfolk Southern’s planned Birmingham Regional Intermodal Facility was awarded $52.5 million from the Department of Transportation under the American Recovery and Reinvestment Act of 2009. Norfolk Southern announced that it intended to construct a new intermodal terminal in McCalla, AL, as part of the railroad’s multi-state $2.5 billion Crescent Corridor program of projects to establish a high-speed intermodal freight rail route linking the Gulf Coast and the Northeast. Read more...

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When shareholders of Burlington Northern Santa Fe Corp. gather next Thursday in Fort Worth, Tex., they will be saying farewell to the venerable railway's listing on the New York Stock Exchange. BNSF shareholders are poised to approve a friendly takeover bid from billionaire Warren Buffett's holding company, Berkshire Hathaway Inc., clearing the path for the freight carrier's delisting and placing the investment spotlight on North America's five other major railways. Read more.

President Obama on Thursday awarded $8 billion in federal grants to start a nationwide high-speed rail system he hopes will create jobs and speed up U.S. travel. "There's no reason Europe or China should have the fastest trains when we can build them right here in America," the president said at a town-hall meeting at the University of Tampa's Bob Martinez Sports Center in Florida, one 31 states that will receive grant money. Read more...

Burlington Northern Santa Fe Corp (BNI.N), which is being purchased by Warren Buffett's Berkshire Hathaway Inc (BRKa.N), posted stronger-than-expected quarterly earnings, lifted by improving freight volumes. Matthew Rose, BNSF's chairman, president and chief executive, said that freight loadings had stabilized and then begun to improve as 2009 went on and that he expected "this gradual improvement to continue." Read more...

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Omaha police are trying to track down a 6,000-pound Union Pacific locomotive engine and those responsible for its disappearance. The engine was recently discovered missing last week by employees of Rail Sciences. The consulting firm is contracted to diagnose and fix problems with Union Pacific equipment. Read more...

Canadian National Railway (TSX:CNR) and Canadian Pacific Railway (TSX:CP) saw soft volumes in the fourth quarter, especially compared with weak results a year ago. "Although evidence supports a continued economic turnaround, we believe the recovery will be gradual," says David Newman of National Bank Financial. Read more...