CSX announced Friday morning to employees in Russell, Kentucky, that the company will be closing the Russell Locomotive Shop and eliminating 113 positions. CSX issued a Worker Adjustment and Retraining Notification (WARN) Act notice in conjunction with the shop closure.“As a result of the locomotive shop closure, 113 positions are being eliminated, and impacted…
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The NCCC has been negotiating with 13 unions in three coalitions, over a contract that expired January 1, 2015, covering 145,000 railroad workers across wide variety of crafts. In each proposal, there is zero or minimal wage increases from 2015-2017, and 2 percent wage increases for future years. The cost of monthly health care would…
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The CSX rail company, hard hit by a sharp decline in coal transport, said it currently moves about 70,000 barrels of crude oil per day, mostly between the Bakken region and terminals in New York and Pennsylvania. “It makes up a small part of our business, about 1 percent, but we do think there’s…
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In fact, volumes in CSX’s coal segment were down by 21% on a year-over-year basis, which led to a massive drop in revenue from this segment. More specifically, CSX’s coal revenue, which accounted for 17% of its overall revenue last quarter, fell 20% year-over-year to $467 million last quarter. This is a trend that we…
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Companies in the Railroads industry operate railroad tracks and/or trains, as well as transport cargo and passengers. These corporations are generally established and stable, and offer lower-than-average dividend yields. Today, Stock-Callers.com reviews the following equities: CSX Corp. (NASDAQ: CSX), Union Pacific Corp. (NYSE: UNP), Westinghouse Air Brake Technologies Corp. (NYSE: WAB). Jacksonville, Florida-based CSX…
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On July 9, 2016, FECR celebrated with its partners the arrival of MOL Majesty, the first “neo-panamax” vessel to cross the expanded Panama Canal bound for PortMiami. The MOL Majesty is part of the G6 Alliance Transpacific PA2 service, originating in Asia. FECR re-established on-dock intermodal rail service at PortMiami, allowing import and export…
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