Rail-Related News for Thursday January 16, 2014 ================================================ CSX Corporation Announces Fourth-Quarter and Full-Year Earnings Highlights: . Fourth-quarter and full-year earnings per share of $0.42 and $1.83, respectively . Revenue gains broad-based, led by intermodal and merchandise markets . Favorable outlook for majority of markets in 2014 JACKSONVILLE, Fla. - January 15, 2014 - CSX Corporation (NYSE: CSX) today announced fourth-quarter 2013 net earnings of $426 million, or $0.42 per share, down slightly from $449 million, or $0.44 per share in 2012. Prior year results included after-tax real estate gains of $57 million or 6 cents per share. Supported by the strength of an expanding economy, we delivered 6 percent volume growth in the quarter, despite another sharp decline in coal, said Michael J. Ward, chairman, president and chief executive officer. As the economy continues to expand, CSX is well positioned to leverage that environment to create sustainable long-term value for our customers and shareholders. Fourth-quarter revenue increased 5 percent to $3.0 billion, driven by broad-based strength in the companys merchandise and intermodal markets. Operations were resilient in the quarter, despite increased volume and challenging winter weather at the end of the quarter. However, the cycling of prior year real estate gains contributed to operating income that was essentially unchanged at $813 million. For the full-year 2013, net earnings were $1.83 per share, up slightly from $1.79 per share in 2012. Full-year 2013 revenue increased 2 percent to a record $12.0 billion, operating income remained stable at $3.5 billion, and the operating ratio increased slightly to 71.1 percent compared with 70.6 percent for 2012. Looking forward, the company remains on target to sustain a high-60s operating ratio by 2015 and achieve a mid-60s operating ratio longer-term. CSX executives will conduct a quarterly earnings conference call with the investment community on January 16, 2014, at 8:30 a.m. Eastern time. Investors, media and the public may listen to the conference call by dialing 1-888-EARN-CSX (888-327-6279) and asking for the CSX earnings call. Callers outside the U.S., dial 1-773-756-0199. Participants should dial in 10 minutes prior to the call. In conjunction with the call, a live webcast will be accessible and presentation materials will be posted on the companys website at investors.csx. Following the earnings call, an internet replay of the presentation will be archived on the company website. This earnings announcement, as well as additional detailed financial information, is contained in the CSX Quarterly Financial Report available on the companys website at investors.csx and on Form 8-K with the Securities and Exchange Commission. CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For more than 185 years, CSX has played a critical role in the nations economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nations population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and small farming towns alike. More information about CSX Corporation and its subsidiaries is available at csx. Like us on Facebook (facebook/OfficialCSX) and follow us on Twitter (twitter/CSX). Forward-looking Statements This information and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to, among other items: projections and estimates of earnings, revenues, margins, volumes, rates, cost-savings, expenses, taxes, liquidity, capital expenditures, dividends, share repurchases or other financial items, statements of managements plans, strategies and objectives for future operations, and managements expectations as to future performance and operations and the time by which objectives will be achieved, statements concerning proposed new services, and statements regarding future economic, industry or market conditions or performance. Forward-looking statements are typically identified by words or phrases such as will, should, believe, expect, anticipate, project, estimate, preliminary and similar expressions. Forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise any forward-looking statement. If the company updates any forward-looking statement, no inference should be drawn that the company will make additional updates with respect to that statement or any other forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, and actual performance or results could differ materially from that anticipated by any forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by any forward- looking statements include, among others; (i) the companys success in implementing its financial and operational initiatives; (ii) changes in domestic or international economic, political or business conditions, including those affecting the transportation industry (such as the impact of industry competition, conditions, performance and consolidation); (iii) legislative or regulatory changes; (iv) the inherent business risks associated with safety and security; (v) the outcome of claims and litigation involving or affecting the company; (vi) natural events such as severe weather conditions or pandemic health crises; and (vii) the inherent uncertainty associated with projecting economic and business conditions. Other important assumptions and factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the companys SEC reports, accessible on the SECs website at sec.gov and the companys website at csx. Contacts: David Baggs, Investor Relations 904-359-4812 Melanie Cost, Corporate Communications 904-359-1702 ------------------------------------------------- No one hurt in car-train collision in Marshfield MARSHFIELD (WAOW) – A train and a vehicle collided at a railroad crossing in Marshfield, closing state Highway 97 for a time, but no one was hurt, authorities said. The crash occurred about 2:30 p.m. Wednesday. “There was very minimal contact,” said Sgt. Travis Esser of the Wood County Sheriffs Department. Exactly what happened remained under investigation, he said. ************************************ MARSHFIELD (WAOW) – A traffic incident occurred at a railroad crossing in Marshfield, closing state Highway 97, the state Department of Transportation said. The incident occurred about 2:30 p.m. Wednesday and was expected to keep the road closed for two hours, the agency said. No other details were immediately available. The Wood County Sheriffs Department did not immediately return a telephone message. No spokespeople were available at the Marshfield Police Department. waow/story/24463259/2014/01/15/traffic-incident-at-rr-crossing-in-marshfield ------------------------------------------------------ VRE train hits and kills pedestrian on foggy morning A cashier at Target in Burke was struck and killed by a Virginia Railroad Express train on Wednesday morning as she walked across tracks that run behind the store. Fairfax County police said in a press release that the train, traveling south from Washington to Manassas, hit 22-year-old Danyelle Lynn Anderson just after 7 a.m. The release described conditions as “foggy and dark” and said that the engineer applied the emergency brake and sounded the horn as soon as he saw the woman on the tracks, after rounding a slight curve just past the Burke station. Police said the train slowed but was unable to avoid hitting Anderson, and described her death as an accident. Anderson, a resident of Manassas, identified herself on her LinkedIn page as a graphic design intern at an interior design agency and a cashier at the Target. The railroad runs just behind Target, separated from the store by a copse of trees. VRE spokesman Rich Dalton said that the railroad is conducting an investigation which will consider whether to add fencing to prevent people from crossing the tracks at the place where Anderson was killed. “The fence right behind it is obviously in some disrepair, but a sign posted there by Norfolk Southern, the owner of the railroad, indicates no crossing or trespassing. That’s something we have to look at with Norfolk Southern,” Dalton said. washingtonpost/local/vre-train-hits-and-kills-pedestrian-on-foggy-morning/2014/01/15/51235a84-7e21-11e3-95c6-0a7aa80874bc_story.html ----------------------------------------------------- Collision in north Edmonton rail yard leads to train derailment EDMONTON - Six train cars derailed and caused one engine to leak diesel fuel in north Edmonton Wednesday morning, following a collision involving three trains that were moving slowly. CN spokeswoman Emily Hamer said from Vancouver the incident happened about 10:20 a.m. Three locomotives, two tank cars containing dangerous goods and one empty flat car derailed near Yellowhead Trail and 72nd Street. All six cars remained upright, Hamer said. She did not know what the tank cars contained. No one was injured and residents in nearby houses were not evacuated. Edmonton Fire Rescue district chief Barry Lamb said crews received a call from CN about 10:30 a.m. that a train had derailed and a car containing liquefied petroleum gas was possibly involved. “There is a huge danger in these kinds of things,” Lamb said. “We’re working with the rail companies to communicate this better and it’s a good process, an ongoing process.” Lamb said one engine was leaking diesel fuel when crews arrived but no other cars were leaking. The leak was plugged Wednesday morning and a hazardous materials truck remained on scene to assist with the cleanup. “As far as we’re concerned, we’ve terminated the incident and now it’s in CN hands,” Lamb said. Hamer did not know how much diesel fuel leaked. Gloria Pickard returned to her home near 73rd Street and 126th Avenue after running morning errands and found a hazmat truck parked in front of her house, along with two fire trucks and multiple CN trucks nearby. “It’s very, very scary,” Pickard said. “We’re pretty close to the tracks here.” Pickard watched from her kitchen window as rail workers inspected the derailed cars. “We’ve been here for 12 years and never had anything like this happen,” she said. CN said an investigation is underway to determine what caused the incident. cklingbeil@edmontonjournal edmontonjournal/Train+derails+north+Edmonton/9390320/story.html --------------------------------------------------------- Train cars derail at Bailey Yard Twenty-four railcars left the tracks at Bailey Yard Monday. No one was injured during the incident, according to Mark Davis, director of corporate relations and media for the Union Pacific Railroad. Operations in the area were temporarily slowed, however, as crews worked to put the cars back on the line using cranes and other heavy equipment. According to Davis, the incident happened at 7:15 a.m. on the west side of the yard. “It was in a location where trains are put together based on their destination,” Davis said. “In this case, a train was being assembled to head to Cheyenne.” None of the cars tipped over. Davis said the area was back to normal operations by evening. The cause of the derailment is under investigation. nptelegraph/news/train-cars-derail-at-bailey-yard/article_30e1c34a-5bd1-56d0-997a-b1dd37c65637.html ----------------------------------------------------- Report Says Metro-North Derailment Caused $9 Million In Damage NEW YORK (CBSNewYork/AP) — Officials said Tuesday that the Metro-North derailment in the Bronx caused more than $9 million in damage. The information was disclosed in a National Transportation Safety Board preliminary report. The railroad said the amount covers repairs or replacement for the locomotive, the seven coaches, and the tracks. The preliminary report on the deadly train derailment in December does not draw any conclusions about what caused the wreck. It has no major revelations about what happened when the Metro-North commuter train went off the tracks Dec. 1, killing four and injuring dozens. LINKS: Read the full report | Photos of Metro-North derailment The report restates previous findings that the train was traveling at 82 mph on a curve that had a 30 mph speed limit. It also repeats that no mechanical problems have been found. Representatives of the train’s engineer have said he may have lost focus at the controls. The preliminary report doesn’t address that issue. An NTSB spokesman says new information and a conclusion are probably months away. newyork.cbslocal/2014/01/15/report-says-metro-north-derailment-caused-9-million-in-damage/ --------------------------------------------------- Officials have not yet revealed identity of man killed by train in Hazlet HAZLET — Authorities were investigating the death of a man killed by a train early Tuesday as a possible suicide, a spokesman for New Jersey Transit said. According to the engineer’s account, the man was laying across the railroad tracks when he was first seen, said William Smith, the NJ Transit spokesman. The engineer immediately applied the brakes, but the train did not stop in time and the man was pronounced dead at the scene. The New York-bound Coast Line train struck and killed the man at 4:20 a.m. just west of Hazlet station, near the Bethany Road crossing. The 25 passengers on board were taken by bus to another train at the Aberdeen-Matawan station. No injuries to passengers or crew were reported. Train travel was disrupted during the early morning commute as rail service initially was suspended, then restored mostly by about 7 a.m. Train tickets were cross-honored on NJ Transit buses. NJ Transit police are leading the investigation of the incident. Transit authorities ask any witnesses who may have information about the incident to call the NJ Transit Police at 973-378-6565. app/article/20140114/NJNEWS/301140014/Coast-Line-train-service-suspended-after-Hazlet-incident?gcheck=1 --------------------------------------------------------- VIDEO: Train Hits 18-Wheeler Stuck on Tracks in Hartselle, Driver OK HARTSELLE, Ala. (WHNT) – Several drivers saw a train hit an 18-wheeler stuck on the railroad tracks in Hartselle Tuesday morning. Fortunately, the driver got out beforehand. The collision happened about 8 a.m. at the crossing on College Street at Railroad Street. The driver said his GPS suggested he take a route through the city of Hartselle. When he tried to cross the tracks at College & Railroad streets, some of the gear on the bottom of his truck got stuck in the tracks. The driver got out of his truck and tried to get some help, but saw the train coming. He waved and waved to try to notify the engineer to stop, but it was too late. The train rammed into the truck’s front cab. whnt/2014/01/14/train-hits-18-wheeler-stuck-on-tracks-in-hartselle-driver-ok/ ----------------------------------------------- Train Derails In Perry, Blocks Roadway Perry, Fla. -- At approximately 12 p.m. today, a train derailed in Perry, Fla., blocking traffic from Drew Street north to Julia Street. Police say they are currently waiting on representatives from the Georgia & Florida Railway to arrive and complete their investigation before they can remove any barricades. Police say that no hazardous materials or spillage of any kind has been reported in the area of the derailment, and that all of the train’s parts are still on the track bed. Police say that they have control of the scene, and no evacuations have been ordered. wctv.tv/home/headlines/Train-Derails-In-Perry-Blocks-Roadway-240145141.html?ref=141 ----------------------------------------- Quincy riverfront back open following train derailment BNSF says five rail cars remained on the ground Tuesday morning near Quincys Riverfront after coming off the tracks. The accident happened on the tracks just north of the Pier Restaurant Monday night. According to a Quincy Police officer on the scene, railroad officials with BNSF said there was some sort of malfunction with a transfer switch that caused an accordion-like pile-up. BNSF spokesperson Andy Williams told WGEM News that crews picked up a load shortly before the incident happened. A total of five cars derailed, with three landing on their sides. Only two cars contained any cargo, which included soybeans and cattle feed. The cars are owned by BNSF, while the rail is operated by Burlington Junction Railway. Clean-up began Tuesday morning, with no word on how long it will take. ----------------------------------------------------------- Metra train on move again after hitting van 12:38 p.m. CST, January 14, 2014 A van that sources said went around downed crossing gates Tuesday morning in south suburban Robbins was struck by a Rock Island Line Metra train, injuring someone in the van. Metra spokesman Tom Miller said outbound Train No. 509, scheduled to arrive in Joliet at 11:51 a.m., hit a van at 139th Street in Robbins about 11:20 a.m. One person was injured and taken to Metro South Medical Center in Blue Island, but the persons condition was not available. Robbins police and fire officials were not immediately available. According to a source, the driver of the van went around lowered crossing gates. As of 12:25 p.m. the train was on the move again after being delayed about an hour, Miller said. -------------------------------------------------- No jail time for convicted former LIRR manager A onetime Long Island Rail Road manager who lied on a disability application to the federal Railroad Retirement Board got off with a $5,000 fine and no prison time on Tuesday, making him the fourth LIRR fraudster sentenced only to probation. Prosecutors wanted jail time for Donald Alevas, 55, of Patchogue, a former director of shop equipment planning, but U.S. District Judge Kimba Wood -- citing an LIRR letter praising Alevas for giving up 15 percent of his pension -- decided to be lenient. I agree with the government that there should be a consequence attached to lying on such an important form, Wood said. But its a very close case as to whether those consequences should be a term of incarceration. STAY UPDATED: News alerts, newsletters | Twitter | Facebook Alevas is one of 33 doctors, consultants and LIRR retirees convicted in Manhattan federal court of a plot to collect phony disability claims that prosecutors say involved hundreds of workers. Leaders of the fraud received 8 years in prison, but three retirees and an office worker got probation. Alevas lawyer Robert del Grosso told Wood his case was unique because he had a real hearing loss that qualified him for a disability, and pleaded guilty only to embellishing his application by lying about purported orthopedic problems. Because of the hearing problem, del Grosso said, Alevas was entitled to all the disability money he got. Alevas told the judge, I am sorry for what I did and Im especially sorry for putting my family through it. He declined to comment after the sentencing. Prosecutor Tatiana Martins argued that Alevas shouldnt be let off scot free for submitting a form with multiple lies -- claiming a damaged disc and neck, and difficulty with tasks ranging from sitting and standing to dressing, eating and reading English. Some term of imprisonment is appropriate because the flip side is to say youre not punished at all, Martins told Wood. The LIRR has threatened to seek forfeiture of defendants separate railroad pension for misconduct, dishonesty or theft during their employment. But the LIRR has been willing to settle for a 15 percent cut in the pension -- $5,000 a year for Alevas. As part of the settlement, an LIRR lawyer told Wood in a letter that Alevas deserved credit for accepting only 85 percent of his pension. Mr. Alevas has, we submit, accepted responsibility for the harm that his fraudulent conduct inflicted on the LIRR, an acceptance of responsibility having very real financial consequences, lawyer Dietrich Snell wrote. Wood said the supportive letter from Alevas ex-employer was an important factor in his favor. newsday/long-island/suffolk/no-jail-time-for-convicted-former-lirr-manager-1.6797028?firstfree=yes ----------------------------------------------------- Red Line Video Captures Verbal Exchange Before Stabbing Source: Los Angeles Times Created: January 14, 2014 An MTA Red Line security camera captured a brief verbal exchange between a victim and his assailant seconds before a stabbing on the train Monday morning, officials said. Jan. 13--An MTA Red Line security camera captured a brief verbal exchange between a victim and his assailant seconds before a stabbing on the train Monday morning, officials said. There was a verbal exchange, Sheriffs Transit Det. Keith Schumaker said. Then the suspect produces a weapon and lunged toward the victim with a stabbing motion. It was something more than a conversation. It wasnt anything that amounts to provocation. This was nothing like self-defense. There was a sudden attack after a few words, Schumaker said. The video captured a limited view of the attacker, Schumaker said. The victim is in his 30s and was stabbed about 9:18 a.m. by another rider described as 18 to 24 years old. The victim was taken to a hospital in grave condition after the train stopped at the Vermont/Santa Monica Station. Investigators are reviewing a second video and talking to witnesses. Earlier Monday, a woman told The Times in a telephone interview that she witnessed the entire incident unfold Monday morning, calling it quite traumatic. The woman, who asked not to be identified out of fear of retaliation, said she boarded the train about 9:16 a.m. at the Vermont/Sunset station and was standing by the door when she saw the suspect, who appeared to be in his 20s, singing loudly in the car. He walks down the aisle to the middle section and was standing there singing really loud rap music, the woman said. I particularly noticed because I was watching, thinking, thats aggressive and loud. Then a man started walking toward the center where the man was singing. There was no provocation whatsoever and this kid just stabs the man in the neck, the woman said. After that, the train stopped and the assailant ran out the door, she said. The victim was bleeding profusely, she said. Marc Littman, an MTA spokesman, said that the incidence of serious crimes aboard the Metro rail system is very low, about 0.30 per 100,000 boardings. -------------------------------------------------------- Rock Island District Outbound Train #509 Stopped Outside Of Robbins Grade Crossing Incident Train #509, scheduled to arrive Joliet at 11:51 a.m., is presently stopped outside of Robbins due to a grade crossing incident. The train is presently 15 minutes late and delays may reach 30 to 60 minutes before moving. Local police may stop all train traffic in the area however updates will be posted as soon as more information is available. ---------------------------------------------
Posted on: Thu, 16 Jan 2014 15:18:59 +0000
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