North
American Transit Industry
Fiscal
2003 Budget Reflects Funding for Transportation Security;
Transportation Department Requests $59.3 Billion, Continues
Safety as Top Priority:
The
Department of Transportation today unveiled its budget that
would seek $59.3 billion in funding for the fiscal 2003 budget
to help provide for improved security and safety of the
country's transportation system.
WTC
Subway Station Reopens:
In
another sign that the city is getting back on its feet, the World
Trade Center station of the E subway line reopened for the first
time since Sept. 11.
Amtrak
Wants Doubling of Federal Subsidy for Operations:
Amtrak
has threatened to end all long-distance train service in October
unless Congress more than doubles its federal subsidy to $1.2
billion. In
a related story,
Amtrak reported losses of $1.1 billion in 2001, the most in its
30-year history.
Bending
Buses May Hit Portland, Ore.-Area Roads Again:
Just
four years after the transit agency trashed its bend-in-the-middle
buses as not worth the trouble, the Tri-Met board approved the
purchase of 40 "articks" at a cost of $17.1 million.
Transit
Agency Selects Final Rail-Station Site in Downtown Raleigh, N.C.:
The
Triangle Transit Authority wrapped up more than six years of study
of a proposed regional rail line with the selection of a final
station site in downtown Raleigh.
Northstar
Commuter Rail Bill Introduced:
Sen.
Jane Krentz and Rep. Kathy Tingelstad introduced legislation that
would authorize $120 million in state bonding for the proposed
Northstar commuter rail line.
Texas
Governor Wants Toll Roads, Rail to Cover State:
Gov.
Rick Perry has asked state highway officials to start planning a
massive transportation network across Texas -- with toll roads,
railroads and underground utility tunnels grouped in corridors
stretching from border to border.
Amtrak
Links Some Trains to the Internet:
Yahoo
and Amtrak plan to create the first Internet-enabled passenger
trains in the United States by placing hand-held computers with
Internet access on a smattering of trains nationwide.
To
read the complete news stories please visit our website at iRail.com.
North
American Freight Industry
Green
light for biggest rail project in modern America:
A
railway company in the United States has won government approval
to complete a 1,000-mile stretch of track from north-eastern
Wyoming across to the Mississippi river in Minnesota in what is
being hailed as the biggest rail construction project in modern
American history.
CSX
Corp. Unhurt by Slowing Economy:
CSX
Corp., the parent company of Jacksonville's CSX Transportation
reported a fourth-quarter 2001 profit of $65 million, or 31 cents
per share, up from $54 million, or 26 cents per share, the
previous year.
Burlington
Northern's Earnings Drop 31%:
Burlington
Northern Santa Fe Corp.'s fourth-quarter profit plunged 31%, hurt
by a restructuring charge for job cuts.
Norfolk
Southern Posts $115 Million in Fourth-Quarter Earnings:
Cost-cutting
and lower fuel costs helped the Norfolk-based railroad announce
earnings $115 million, or 30 cents a share, in the fourth quarter
of 2001.
Union
Pacific Plans to Lose Jobs through Attrition, Executives Say:
Union
Pacific Corp. will trim 1,000 to 2,000 jobs through attrition
during 2002, as disclosed by company executives during a
conference call.
BNSF,
Swift Transportation Offer Perishable Service:
The
two companies will initially provide service for
temperature-controlled commodities moving between the West Coast,
the Midwest, and the Southeastern United States.
Norfolk
Southern Announces Appointment to Board of Directors:
Norfolk
Southern Corp. recently announced that retired Adm. J. Paul Reason
Jr. has been elected to its board of directors.
To
read the complete news stories please visit our website at iRail.com.
International
and miscellaneous
Bombardier
wins Canadian $161 million locomotive and train order in Germany:
According
to the contract, Bombardier
will build 10 locomotives and 66 double-deck cars for the
Transport Authority of Lower Saxony to expand regional rail
services.
Siemens
reaches agreement on production of Madrid-Barcelona high-speed
train:
After
months of intense negotiations, Siemens has reached an agreement
with Alstom and CAF on the production of the 16 trains that will
operate on the new high-speed rail link between Madrid and
Barcelona.
Byers
gets pounds 2bn rail budget boost:
Stephen
Byers, the British transport secretary has been handed a pounds
2.2bn lifeline by Gordon Brown in the form of a new injection of
cash for the struggling railway industry.
The
European Union decides to fully liberalise its rail freight market
by 2006:
The decision is one of five new "emergency" initiatives
designed to create an integrated railway area for EU freight and
passengers.
British
PM savaged by colleagues for rail chaos:
In
an extraordinary attack, the Labour-dominated Commons Transport
Select Committee derided the Government' s ten-year plan to
restore the crumbling rail network and singled out Mr Blair for
criticism.
Eurostar
is still in the red despite successful competition with airlines:
Eurostar
Groupe, which runs high-speed rail services between London, Paris
and Brussels, announced turnover of 699.7m euros for 2001, a drop
of 0.7 per cent.
World
Bank issues loans for rails in west China:
The World Bank announced that it had approved a US$160 million
loan to fund railway upgrades in Northwest China and reform the
country's railway sector.
France
and Germany sign freight pact:
The
deal by SNCF Fret and DB Cargo - scheduled to start next year -
came just days after Brussels published its second package of
railway reforms, aimed at liberalising European rail freight.
China
to invest US$24B in subways:
China
will invest US$24.2 billion in subway construction from 2001 to
2005, a quarter of the US$96.6 billion has been earmarked for
urban-transit construction during its 10th Five-Year Plan.
To
read the complete news stories please visit our website at iRail.com.
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