Railroad Week in Review:
Second Quarter 2006
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Comparing First Quarter earnings and revenue outlooks for the Class
Is plus GRW and RRA. Promising. Is there a chance that the gap between
the percentage rate of revenue gains and volume gains is shrinking?
NS sets Delmarva Business Unit, taps Don Seale EVP and Chief Commercial
Officer. Bill Galanko and Jim Squires move up.The
Paper Barriers thread winds down. Further observations on promoting
the rails to a wider audience. A disclosure on disclosures.
Why the number of independent shortlines is shrinking and what
can be done to slow the slide. First quarter rail traffic up -- some.
IM still leads; shortline commodities OK. Railroad share prices up along
with shares of those who make what the rails carry the most of. Pride,
leadership and organization working on the railroad.Mississippi pols
want CSX to relocate inland to make room for a new highway. Pork busters
object. KCS and NS finalize Meridian Speedway deal. Paper barriers -
the parting shot.
CN CSX and UP lead off earnings season with strong results.
Remarks on Tuesday's WSJ article re fuel surcharges. Rail Cash returns
as a percent of enterprise value. Tables.
ASLRRA Annual Meeting a great success. Q1 earnings reports for
BNSF, CP, NS, RRA. Very encouraging for shortlines.
quarter results from KCS, GWR, FEC. WIR adds supplier results for
the first time: LB Foster, GATX, Trinity. We'll pick up the other
car builders next week. TCWR and RRVR promotions. Friedman to head
NS Shortline group. Big Six Class 1 summary table.
We see more signs that the Class I side of the shortline interchange
needs work. Fuel surcharges assume fuel costs are going up; what happens
if it comes down? Railinc
exits Railsync officially. RRA analysts meeting. ARII posts healthy
first quarter. Virginia DOT invests in NS intermodal terminal in Roanoke.
Why watching commodity moves and car makers' order books can help improve
a shortline's fortunes. April carloads for GWR and RRA. Watco transfers
A&O interests to CSX/PAL partnership. CAT buys Progress Rail for
one times sales. Insights from MS recent Truckload Report. Jim Valentine
heads for the UK; Chad Bruso and Bill Green take the desk. GWR trading
Why the May 2005 RailAmerica Analyst Presentation ought to be Required
Reading for every shortline operator. Where to find it and what to look
for. AAR says Week 20 (May 20) set records; merch loads do well, though
easy coal comps skew the general picture. DM&E
garners more support. FreightCar America gets nod from Forbes; why I'm
not buying. GATX provides Q1 fleet details. KCS loses two financial
execs, faces further follies in Mex. Dave Brown joins CSX as VP Transportation.
Paper Barriers and Fuel Surcharges to converge as hot buttons.
Ending June 2, 2006
A longish piece on paper barriers: what the STB seems to be thinking
about them; some points of view pro and con. More evidence of CSX turning
an operational corner. Anacostostia's PHL buys new power, CSSB buys
coil cars; the financial commits are considerable.Providence
& Worcester "in talks with" RRA. UP hauls billionth ton
of coal out of large BTU mine in PRB. Further thoughts on the implications
of the DME extension project. Buying TRN on the dips.
Ending June 9, 2006
Watching rail stocks come back from the dead Thursday afternoon. A disconnect
between car supply and car builder stock prices. Why I felt this year's
NS shortline gathering in Roanoke was particularly notable.Warning
signs for shortlines lurk in the Wall street downturn. BNSF asks rail
fans to help round up suspects. DME excursion to PRB rankles some. Shortline
carloads for Week 20.
Ending June 16, 2006
Rail stocks surge ahead on Thursday only to mark time on Friday. Thoughts
on why car builder stocks are so badly depressed. CSX' Mike Ward Ward
sees an alignment of the stars ahead. BNSF wows analysts,
big rail user not impressed with pricing and service among the Big Six.On
shortlines and the car supply business. Rail volumes for the week. RRA
and GWR May loads; RRA downgraded on tech signs.
Ending June 23, 2006
RRA reorganizes, slims down, positions itself to move faster. GWR's
Bolivian RR may be at risk for nationalization. CN taps two new marketing
and sales SVPs. Art Shoener takes on COO and Pres at KCS. Keystone State
RR Assn shows what a good state lobbying organization can do for shortlines.
TRN ups estimates, stock price follows. Larry Kaufman on utilities,
coal and RRs.
Ending June 30, 2006
Four faster, smarter IT tools at work at NS to run a faster, more efficient
railroad. UP realigns regions, hiring continues unabated. Greenbrier
outlook "like a coiled spring." Have rail stocks turned the
corner? Nine second quarter revenue estimates and two caveats.Will
the RPO be reincarnated in a 747?