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WASHINGTON — The Supreme Court on Tuesday will weigh the fate of an 88-mile railroad project that would transport crude oil in Utah as the justices consider a dispute over whether federal officials conducted a stringent enough environmental review before approving it. It is opposed by Eagle County, Colorado, which claims that it will suffer from downstream effects of the railroad, as well as environmental groups. The federal entity overseeing approval of the project, the Surface Transportation Board (STB), conducted an environmental review and subsequently gave it the green light to commence. The Biden administration has backed the coalition at the Supreme Court in arguing that the STB's review was sufficient. Lawyers for Eagle County said in court papers that the appeals court correctly concluded that the STB had not done a full analysis.

Persons: WASHINGTON —, Joe Biden, Biden, Elizabeth Prelogar, Neil Gorsuch, Philip Anschutz . Organizations: Seven County Infrastructure Coalition, Surface Transportation Board, ., Appeals, District of Columbia Circuit, Environmental, Eagle, STB, DHIP Group, Rio Grande Pacific Corp, Liberal, Anschutz Exploration Corp Locations: Utah, Uinta, Eagle County , Colorado, Louisiana, Texas, Eagle County, Colorado, Rio

☆ America's 10 best states for infrastructure, where you can rely on roads, bridges, airports, power, and internet
▼ + stars: | 2024-07-11 | by ( Scott Cohn | ) www.cnbc.com time to read: +14 min

To rate each state's infrastructure, we look at roads, bridges, ports and airports. New in 2024, we evaluate so-called site readiness programs set up in many states to link companies with shovel-ready sites. The Economic Development Partnership of Alabama offers one of the more robust site readiness programs in the nation. Roads, bridges, and broadband are also in excellent shape in Tennessee. A respectable 24% of the state's power comes from renewable energy, putting it in the top half of states.

Persons: Pete Buttigieg, Buttigieg, Gary Hershorn, Brad Lander, Kathy Hochul, Luke Sharrett, Liam Kennedy, Chicago —, Carl Sandburg, Minnesotans, Tim Walz, Nathan Howard, — Virginia, Caitlin O'Hara, Elijah Nouvelage Organizations: Infrastructure Law, CNBC, Law, Business, Empire, Hudson, Corbis, Census, Gov, Indiana, CSX Corp, Bloomberg, Getty, Crossroads of America, U.S . Surface Transportation, Hoosier State, of Energy, Street Foundation, Economic Development, Alabama, Tennessee Downtown, Istock, Volunteer State, Energy Department, Illinois Metra, Chicago, Railroads, Census Bureau, Surface Transportation, Traffic, Midway, Chicago Department of Aviation, Lincoln, Minnesota, Jimkruger, Minnesota's Department of Economic, The Utah Department of Transportation, Beehive State, Planners, Virginia, Amazon.com Inc, —, Washington Post, Georgia Passengers, Hartsfield, Jackson Atlanta International Airport Locations: States, York, Manhattan, New York City, New York, Ohio, Clarksville , Indiana, U.S, Indiana, Alabama, Trinity , Alabama, Yellowhammer State, Tennessee Downtown Nashville , Tennessee, Tennessee, Illinois, Chicago, Rudybalasko, Texas, Minneapolis , Minnesota, Mississippi, Minneapolis, Utah, Salt Lake City, Beehive, Farmington, Ashburn , Virginia, Northern Virginia, Arizona, Phoenix , Arizona, Atlanta , Georgia

☆ A trucking and rail strategy that boomed during pandemic shocks is heating up again
▼ + stars: | 2024-03-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +10 min

The shift in the volume of freight being moved from the East Coast to the West Coast was first highlighted in February in the ITS Port Rail Ramp Freight Index. He said the disruptions from the Suez Canal and Panama Canal have contributed to an almost 20% increase into the West Coast ports. "For our ports, transloading containers is always going to happen and we have the capacity to do more." The West Coast container volume rebound will also have a ceiling. "We probably don't get to the historical 10-year levels of West Coast market share versus East Coast share," Chan said.

Persons: Michael Aldwell, Kuehne + Nagel, Chris Sikora, CH Robinson, Sikora, Tim Robertson, transloading, Paul Brashier, We're, Brashier, Bryan Kempisty, Matt Schrap, Bruce Chan, Chan, CH, Bascome Majors, J.B, Hunt, Schneider, JB Hunt, Jason Seidl, Knight, Swift, Seidl, Larry Organizations: Getty, U.S, Logistics, CNBC, Kuehne, Transportation Intelligence, . Logistics, DHL Global, ITS, Rail, ITS Logistics, Department of Transportation's, PortX Logistics, Harbor Trucking, J.B, Susquehanna International Group, Hub Group, Schneider, Union Pacific, Cowen Group, Universal Logistics Holdings, East, International Longshoremen's Association, Surface Transportation, Canadian Pacific, Kansas City Southern, Uber, Uber Technologies Locations: West Coast, East Coast, Panama, East, Red, Gulf, transload, transloading, West, Suez, Hunt, CH Robinson, Sea, Mexico, Kansas, Mobile , Alabama, Coatzacoalcos, Veracruz, Gulf of Mexico

☆ Norfolk Southern proxy fight draws heavyweight politicians and regulatory scrutiny a year after derailment
▼ + stars: | 2024-02-27 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +12 min

Norfolk Southern' has underperformed both its peers and the broader market over the last year. Norfolk Southern responded on Monday, rejecting that slate and announcing it would nominate former Amtrak CEO Richard Anderson and former U.S. For Ancora, which has a successful track record as an activist investor, the proxy fight at Norfolk Southern would be its largest ever. EdgePoint controlled 3.4 million Norfolk Southern shares as of Dec. 31, or about 1.5% of shares outstanding. Norfolk Southern has yet to set a date for the annual shareholder meeting.

Persons: Alan Shaw, Norfolk Southern Scott Mlyn, John Kasich, Donald Trump, Ancora, Shaw, Jim Barber, Jamie Boychuk, Richard Anderson, North Dakota Heidi Heitkamp, Heitkamp, Anderson, Frank Blake, Matt Freed, Joe Biden, Biden, Trump, it's, there's, Ancora's, Hunter Harrison, Norfolk Southern, Martin Oberman, Oberman, Amit Bose, Bose, Jim Chadwick, Chadwick, Ancora beneficially, Barber, Boychuk, Harrison, Mandel Ngan, Ancora's Chadwick, Amy Miles, Miles, Claude Mongeau, CNBC's Leslie Picker, Heidi Heitkamp Organizations: Norfolk Southern, CNBC, Norfolk, Ancora Advisors, EdgePoint Investment Group, Republican, Amtrak, Delta Airlines, Cargill, Home Depot, U.S, Energy, Workers, East, Trump, Biden, Southern, PSR, Federal Railroad Administration, Surface Transportation, Federal, UPS, Teamsters, Canadian, . Norfolk Southern, CSX, Deutsche Bank, AFP, Getty Locations: Norfolk Southern, East Palestine , Ohio, Ohio, Norfolk, North Dakota, Medtronic, East Palestine, Cleveland, Ancora

SALT LAKE CITY (AP) — The U.S. Forest Service on Wednesday withdrew its approval of a right-of-way permit that would have allowed the construction of a railroad project through about 12 miles (19 kilometers) of roadless, protected forest in northeastern Utah. It would allow them to access larger markets and ultimately sell to refineries near the Gulf of Mexico. An attempt to reach the Seven County Infrastructure Coalition, which is spearheading the project, was unsuccessful Wednesday evening. In the August ruling, the Washington, D.C.-based appeals court decided that a 2021 environmental impact statement and opinion from the federal Surface Transportation Board were rushed and violated federal laws. The Forest Service's decision Wednesday to withdraw its approval was based on the appeals court ruling, but Ashley National Forest Supervisor Susan Eickhoff said the agency could issue a new decision if deficiencies in the environmental impact statement are addressed.

Persons: “, Ted Zukoski, Susan Eickhoff Organizations: LAKE CITY, U.S . Forest Service, Wednesday, Railway, Center for Biological Diversity, County Infrastructure Coalition, D.C, Transportation Board, National Locations: U.S, Utah, Ashley, Uinta, Gulf of Mexico, Colorado, Gulf, Washington, Eagle

Many companies have complained about poor railroad service over the past couple years as the industry worked to recover from the depths of the pandemic. It, however, welcomed regulators establishing some clear minimum service standards for railroads that never existed before and requiring railroads to report more details about their performance. Getting the rule right is important because roughly 75% of refineries and petrochemical manufacturers are only served by a single railroad. Canadian regulators have long had similar rules that allow companies to hire other railroads to deliver their goods. The Canadian rules don't require companies to prove they are getting poor service like the proposed new U.S. rules.

Persons: Scott Jensen, Martin Oberman, ” Oberman, Rob Benedict, Benedict, Ian Jefferies, ” Jefferies, Jeremy Ferguson, ” Ferguson Organizations: — Companies, Surface Transportation, American Chemistry Council, Chemistry, American, and Petrochemical Manufacturers, Association of American Railroads, Transportation Division, International Association of, Rail, Transportation Workers Locations: OMAHA, Neb, U.S, North America, Canada, Mexico

☆ Another cultish cost-saving formula gets off-track
▼ + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +9 min

Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.

☆ After back-to-back train disasters, regulators approve the largest rail merger in decades creating a line that would stretch from Canada to Mexico
▼ + stars: | 2023-03-16 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

Regulators approved a railroad merger that would create a single route stretching from Canada to Mexico. The rail industry has seen train accidents and labor disputes in recent months. "30-40% of the United States economy depends on a well-functioning railroad," Oberman said in the Wednesday press conference. That's why the STB has been "railing about some of the rail service problems and issues affecting the rail industry," he said. Oberman also argued shippers would not lose any existing rail competition from the merger.

☆ Merger Between Canadian Pacific and Kansas City Southern Is Approved
▼ + stars: | 2023-03-15 | by ( Esther Fung | ) www.wsj.com time to read: 1 min

The rail industry’s operations have come under scrutiny as a result of recent derailments and mounting safety concerns. A federal regulator has approved with conditions a merger between Canadian Pacific Railway Ltd. and Kansas City Southern, a $28 billion deal that created the first freight rail network linking Canada, the U.S. and Mexico. “The transaction meets the public interest test for approval,” said a Wednesday decision from the Surface Transportation Board, the economic regulator primarily overseeing freight railroads.

☆ Canadian Pacific’s Merger With Kansas City Southern Is Approved
▼ + stars: | 2023-03-15 | by ( Esther Fung | ) www.wsj.com time to read: 1 min

The rail industry’s operations have come under scrutiny as a result of recent derailments and mounting safety concerns. A federal regulator has approved with conditions a merger between Canadian Pacific Railway Ltd. and Kansas City Southern , a $28 billion deal that would create the first freight rail network linking Canada, the U.S. and Mexico. The Wednesday decision from the Surface Transportation Board, the economic regulator primarily overseeing freight railroads, cements the industry’s biggest merger in two decades.

☆ Senator Warren urges transport regulator to block U.S. railroad deal
▼ + stars: | 2023-03-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

March 3 (Reuters) - Democratic Senator Elizabeth Warren has urged a U.S. regulator to reject Canadian Pacific's (CP.TO) $31 billion deal to take control of U.S. railroad Kansas City Southern, saying it would hurt competition, prompt job losses and disrupt service, a letter seen by Reuters showed. The acquisition, which combines the sixth- and seventh-largest U.S. railroads by revenue, was agreed in 2021. The deal has since closed but Kansas City shares were transferred to a trust and the railroad must operate independently until the Surface Transportation Board, which oversees U.S. freight railroads, approves the transaction. The number of big U.S. railroads has already shrunk to just seven from 33 in 1980, Warren wrote. Last month, Senators Dick Durbin and Tammy Duckworth asked the board to defer a decision until it completes a Chicago region impact assessment.

☆ Union Pacific shares rise after CEO Fritz to step down amid investor pressure
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Feb 27 (Reuters) - Shares of Union Pacific Corp (UNP.N) surged nearly 10% before the bell on Monday, a day after the U.S. railroad operator announced that its Chief Executive Lance Fritz would step down this year amid pressure from investor Soroban Capital Partners. The gains came after some Wall Street analysts backed the leadership change at the company, which has struggled with labor shortages and service issues. Union Pacific's shares have dropped more than 25% over the past 10 months. Other analysts said a new leadership has the potential to improve the company's operating ratio — a key profitability metric. In its most-recent quarter, the company flagged higher operating expenses caused by operational inefficiencies and the current economic environment hitting its revenue growth.

☆ Union Pacific CEO to leave after push from activist shareholder
▼ + stars: | 2023-02-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Union Pacific shares jumped 10% in premarket trading Monday after the railroad company announced CEO Lance Fritz will leave the company by year-end, following a call by an activist hedge fund for his ouster. Union Pacific just reported a record profit for the second straight year. And it said that the Surface Transportation Board, one of the regulators of freight railroads, ranked Union Pacific as providing the worst service among the major railroads. Union Pacific last year earned a net income of $7 billion, up about $500 million, or 7%, from the previous record profit it posted for 2021. Total employee compensation for the year came to $4.6 billion, far less than the $6.3 billion that Union Pacific spent repurchasing shares of stock in the period.

☆ Bank of America upgrades Union Pacific after railroad operator says new CEO coming in 2023
▼ + stars: | 2023-02-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Bank of America says it's time to buy Union Pacific after the company announced its current CEO, Lance Fritz, would be stepping down this year. Analyst Ken Hoexter upgraded the railroad operator's shares to buy from neutral. Hoexter said the leadership change shows the company is prioritizing an operational fix after it was flagged for poor service by the Surface Transportation Board last year. The firm expressed optimism for the frontrunner for Fritz's replacement — former Union Pacific COO Jim Vena — citing his strong track record at the company. Hoexter raised his price target to $241 from $218, implying a 25% upside from Friday's closing price.

☆ Union Pacific pauses use of controversial freight rail embargoes
▼ + stars: | 2022-12-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

In a letter addressed to STB chairman Martin Oberman and sent to the STB on Friday by Fritz, the Union Pacific CEO stated, "We are taking a hard look at our use of congestion-related embargoes. Union Pacific carries nearly 27% of freight served by rail and nearly 11% of all long-distance freight volume. Unions have said that even as major freight rail companies add workers, the data supplied to STB on hiring is masking a longer-term trend of labor attrition. According to a Union Pacific spokesperson, total craft hiring was 27,753 in October 2022 compared to 32,315 in October 2019. Union membership data shows employment on all of the Class I rails, including Union Pacific, is down from just before the start of the pandemic and even down between October 2021 and October 2022.

☆ Freight railroad service is terrible, even without the threat of a strike
▼ + stars: | 2022-12-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

But that doesn’t mean freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and slowing the economy can be traced to the steady decline in freight rail service in recent years. Some experts who represent rail customers who have complained about service in the past say service has gotten better since earlier this year. “The national freight rail network is broken, and the need for long-term rail reform is clear. Union Pacific (UNP), Norfolk Southern (NSC) and Berkshire Hathaway’s (BRKA) Burlington Northern Santa Fe all reported record earnings in 2021.

☆ Amtrak Calls for Investigation Over Freight-Caused Delays in Southwest
▼ + stars: | 2022-12-08 | by ( Ted Mann | ) www.wsj.com time to read: 1 min

Amtrak is seeking to use new federal funds to boost the frequency of train service outside its traditional Northeast stronghold; a train in New Orleans. WASHINGTON—Amtrak is asking federal regulators to investigate Union Pacific Corp. over delays its freight trains have inflicted on the Sunset Limited, a long-distance passenger route from New Orleans to Los Angeles that is its worst-performing route in the country. In a Thursday filing to the Surface Transportation Board, Amtrak blamed interference from Union Pacific’s freight trains for delays along much of the 1,997-mile route and requested economic damages as well as other penalties.

☆ Rail workers at biggest unions split on contract, strike potential unclear
▼ + stars: | 2022-11-21 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Workers at two of the country's biggest rail unions split over a tentative contract their leaders had hashed out with freight rail companies — leaving open the possibility of a debilitating rail strike in the middle of the holiday season. The 28,000-member SMART-TD union, which represents rail conductors, voted no on the contract, after one of their divisions voted it down. A strike could also impact the country’s commuter rail system, with the potential to halt service entirely on some lines serviced by freight rail workers and cause backlogs and traffic snarls on others. The National Carriers’ Conference Committee, which represents rail companies in the bargaining process warned about the economic threats of a strike. The Association of American Railroads, the trade group which represents the rail companies, estimates losses of $2 billion a day.

☆ Rail strike potential grows, threatening to worsen supply chain backlogs, inflation
▼ + stars: | 2022-11-17 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +12 min

That’s how much paid sick leave some freight rail workers are demanding from the rail companies before they sign new contracts. Rail workers say years of grievances about workforce cuts, coupled with new scheduling requirements, have pushed them to the brink of exhaustion. But if any of the unions decides to strike, all rail unions will honor the work stoppage. Kennedy said the union had never agreed to higher wages at the expense of a benefit like paid sick leave. “A rail strike, even one of short duration, would be catastrophic,” said John Drake, a vice president at the Chamber of Commerce.

☆ Union Pacific cuts volume growth forecast as worker shortage weighs
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

A Union Pacific rail car is parked at a Burlington Northern Santa Fe (BNSF) train yard in Seattle, Washington, U.S., February 10, 2017. REUTERS/Chris HelgrenOct 20 (Reuters) - Union Pacific Corp (UNP.N) on Thursday cut its annual volume growth forecast despite a rise in third-quarter shipments, as the U.S. railroad operator struggles with worker shortages. "Inflationary pressures and operational inefficiencies continued to challenge us," Union Pacific Chief Executive Officer Lance Fritz said in a statement. The company trimmed its forecast for full-year volume growth to about 3% from 4%-5%, even after a 3% rise in the third quarter led by higher coal and renewables shipments. Excluding a $114 million charge from the tentative labor deal, the company posted a net income of $3.19 per share, ahead of Refinitiv IBES estimates of $3.06 per share.

☆ U.S. railroad operators' volume woes to continue next year
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +3 min

Oct 19 (Reuters) - Volume woes at U.S. railroad operators are set to spill into next year as labor shortages continue to hurt the sector that is critical in connecting consumers with businesses and finished goods, according to analysts. The North America railroad industry has also been under scrutiny for working conditions. Railroad operators have tried to increase staffing levels, partly under pressure from U.S. regulator Surface Transportation Board, but have found it tough to recruit amid labor shortages. WALL STREET SENTIMENT** The current average analyst rating on Union Pacific shares is "buy", with 15 analysts rating it "hold", and 16 "buy" or higher. ** The current average analyst rating on Canadian National shares is "hold", with 18 rating it "hold", and six "buy" or higher.

But that doesn’t mean that the freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and slowing the economy can be traced to the steady decline in freight rail service in recent years. “Railroads understand that service is not at the level customers expect or deserve. “”I’m told by a lot of our members that this has been the worst rail service year in their careers. For rail customers there is basically no alternative for the products they ship.

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