Latest news with #UnionPacific
Yahoo
16 hours ago
- Business
- Yahoo
CN's Falcon Premium Wins Award for Intermodal Excellence
MONTREAL, June 19, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that its industry-leading Falcon Premium intermodal service has received the Silver Container (Contenedor de Plata) award from the Asociación Mexicana del Transporte Intermodal (AMTI). AMTI is Mexico's leading intermodal transport association, representing key stakeholders across the industry and promoting best practices in cross-border logistics. This prestigious award recognizes outstanding achievements in cross-border intermodal transportation between Mexico, the United States, and Canada. 'We are honored to receive AMTI's Silver Container Award for our Falcon Premium service. CN is proud to lead the way in delivering a seamless, all-rail interline service that reflects our commitment to innovation, exceptional customer service, and sustainability across the North American supply chain.' - Derek Taylor, Executive Vice-President and Chief Field Operating Officer at CN 'Falcon Premium is the industry standard, providing customers truck-like service reliability for their shipments from Mexico through the United States to Canada. We're honored to receive this recognition and proud to collaborate with CN and GMXT to provide customers a winning solution that takes trucks off congested highways and reduces greenhouse gas emissions by up to 75%.' - Kenny Rocker, Executive Vice President – Marketing & Sales at Union Pacific 'GMXT will always strive to be at the forefront of its service. Falcon Premium is becoming one of the most efficient means to reach North America in a sustainable way. We will continue working hand in hand with CN and UP on projects like this one.' - Luis Hernández, Vice President Intermodal at GMXT CN developed the Falcon Premium intermodal service in close collaboration with Union Pacific (UP) and Grupo México Transportes (GMXT). Together, the railroads deliver the fastest and most seamless all-rail interline service connecting Canada, the U.S. Midwest, and Mexico. Falcon Premium helps customers move freight with greater speed, reliability, and environmental efficiency. By eliminating truck interchanges and optimizing route mileage, the service offers the most direct and fuel-efficient rail connection between Canada and Mexico—accelerating speed-to-market while lowering emissions. The Silver Container Award highlights Falcon Premium's transformative impact on intermodal shipping and underscores CN's broader mission to build smarter, greener, and more resilient transportation networks. To learn more about the award, visit: CN Forward-Looking Statements Certain statements by CN included in this news release constitute 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as 'believes,' 'expects,' 'anticipates,' 'assumes,' 'outlook,' 'plans,' 'targets,' or other similar words. Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement. About CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since Michnowski Stacy Alderson Senior Manager Assistant Vice-President Media Relations Investor Relations (438) 596-4329media@ (514) in to access your portfolio
Yahoo
17 hours ago
- Business
- Yahoo
Is Washington open to railroad mergers? This regulator isn't saying no.
For weeks, railroad executives have played footsie in public, touting the benefits of mergers that would turn regional players into coast-to-coast juggernauts. Investors, too, have caught the bug, bidding up shares of smaller carriers most likely to be acquired. But their enthusiasm hinges on one question: Will the industry's regulator be on board? Try him. Patrick Fuchs, the 37-year-old chairman of obscure and quaintly named Surface Transportation Board, has signalled what colleagues and industry players are interpreting as an openness to consolidation, or at least a clean break from the reflexive antipathy of his predecessor to deals. A focus on fact-based and impartial reviews could open the door for an industry that has long wanted to consolidate — in part to compete with Canada's transcontinental giants — but for much of the past two decades has been thwarted by Washington. 'I think it's a win,' Union Pacific CEO Jim Vena said of consolidation in an interview earlier this year. 'On the regulatory front, it's complicated.' 'I see a lot of benefit,' Norfolk Southern's chief financial officer, Jason Zampi, said in May. 'I also view the regulatory framework as pretty challenging.' Vena has privately expressed a desire to acquire either Norfolk Southern or CSX Railroad, according to people familiar with his thinking, though Union Pacific hasn't taken concrete steps to move in either direction, in part because of the uncertain odds of approval. A Union Pacific spokesperson declined to comment. Vena was also sharply criticized early in his tenure as CEO by Fuchs' predecessor, Martin Oberman, who accused Vena of pulling off 'accounting maneuvers' and headcount reductions to prop up Union Pacific's stock price at the expense of its infrastructure and maintenance (Vena has improved Union Pacific's train performance and stock price.) The STB's predecessor agency was created during the Gilded Age to regulate the burgeoning railroad industry. Today, it adjudicates disputes between railroads and their customers, service issues, and, most significantly, whether mergers can go forward or not. The last one to get the green light was in 2021, when Canadian Pacific merged with Kansas City Southern, a smaller US carrier. Fuchs' shift is subtle, and he declined to comment. But paired with the Trump administration's focus on rebuilding America's industrial might, it's rightly seen as an invitation for would-be acquirers to make their case. Promising railroad mergers and all matters a fair shake, decided on the merits and with the benefit of the president's nationalist economic agenda, could be enough to coax Vena and his peers to try. If Union Pacific were to pursue a deal, it would force the hand of the other big West Coast railroad, Warren Buffett's BNSF. To stay competitive with a beefed-up Union Pacific, it would likely need to strike a deal for whichever East Coast railroad — CSX or Norfolk Southern — Vena doesn't snag. Rail mergers are impossibly difficult even with favorable regulatory conditions. Unionized workforces, jittery customers, and reams of paperwork and filings may give pause to CEOs wary of messing with already pressured stocks. Some rail , thanks to heightened merger guidelines that require any deals to increase market competitiveness, not merely maintain it.
Yahoo
2 days ago
- Business
- Yahoo
Chicagoland trucking firm files for bankruptcy following railroad suit
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Illinois transportation firm Nortia Logistics — which allegedly defaulted on repaying Union Pacific Railroad for freight services — filed for Ch. 11 bankruptcy on June 9. Union Pacific sued Nortia in May and alleged the asset-based business lapsed in repaying a $3.6 million promissory note, representing freight debt from Dec. 6, 2023, through May 6, 2024. The Chicagoland business also owes over $1.3 million in lease terminations, among other unsecured claims. Nortia has around $1.4 million in estimated assets and nearly $5.8 million in liabilities, according to the bankruptcy filing. Assets included forklifts and Volvo trucks, and the company was leasing 26 trucks through Penske Truck Leasing along with warehouse and office space with 36 months remaining. The firm had 56 power units and 45 drivers as of Feb. 20, according to a Federal Motor Carrier Safety Administration database. With the Union Pacific debt, Nortia was on a repayment schedule starting a year ago but missed monthly payments in Q4 2024 totaling over $499,000, Union Pacific's suit said. The trucking firm still owed a remaining balance of $3.2 million, the railroad said in a January letter. Large carriers and analysts have been noting in recent years how they expect capacity to retreat from the surge of trucking businesses due to pandemic-fueled demand. Recent bankruptcy filings have come from firms such as Balkan Express, AZA Transportation and Angie's Transportation. Nortia generated $40 million in revenue in 2023, nearly $29.5 million in 2024, and over $8.3 million from Jan. 1 up until the bankruptcy filing, according to the court document. Recommended Reading Illinois carrier files for Chapter 11 bankruptcy
Yahoo
3 days ago
- Business
- Yahoo
Union Pacific's Smart Capital Use Signals a Strong, Sustainable Dividend
Union Pacific Corporation (NYSE:UNP) is one of the . The company's capital investment approach focuses on strengthening its existing infrastructure to enhance safety and reliability, while also targeting specific projects to boost efficiency, productivity, and service quality. The strategy includes initiatives aimed at lowering environmental impact and improving the customer experience, all with an eye toward long-term growth. An intermodal container train winding through a rural landscape. Union Pacific Corporation (NYSE:UNP) maintains an industry-leading operating ratio and return on invested capital, with no changes to its long-term capital allocation framework. For the year, the company has outlined a $3.4 billion capital plan and expects to repurchase between $4.0 billion and $4.5 billion worth of shares. The company reliably generates strong returns from capital projects like siding extensions, new mainlines, and terminal upgrades. This disciplined approach supports Union Pacific Corporation (NYSE:UNP)'s well-regarded dividend policy. The company has paid regular dividends for 125 consecutive years and has increased its payouts for 18 straight years, drawing the attention of income-focused investors. Alongside its dividend payments, Union Pacific Corporation (NYSE:UNP) has aggressively bought back its own shares, reducing its total share count by 31% since 2015. The company currently offers a quarterly dividend of $1.34 per share and has a dividend yield of 2.4%, as of June 14. While we acknowledge the potential of UNP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None.
CBS News
4 days ago
- General
- CBS News
Longer freight trains are more than just a nuisance. They're increasingly costing Texans their time and safety
Five years ago, the average Union Pacific freight train was 8,000-feet long. Today, it's more than 9,000 — with many extending as long as 15,000-feet. Nicknamed 'monster trains,' these freight haulers can carry in a single trip what would take two or three shorter trains to move—saving railroad companies millions of dollars. Union Pacific told the CBS News Texas I-Team the addition of rail cars to an already scheduled train is both safe and good for the environment. But longer trains also mean longer waits at crossings. And when a monster train stops, it often becomes more than an inconvenience. Monster trains in texas The CBS News Texas I-Team found nowhere is the problem bigger than in Texas. Data from the Federal Railroad Administration shows more than 7,000 reports of trains blocking crossings across Texas in the past year — that's more than three times as many as any other state. Many of the most problematic crossings are in Tarrant and Denton Counties. When Fort Worth firefighters get a call from an address near train tracks, dispatch sends two trucks — one from each direction. If the route includes the train crossing on Avondale-Haslet Road in the far northwest corner of the city, the most frequently reported blocked crossing in North Texas, trucks roll from both the Fort Worth and Haslet fire stations. "That way we know that we're coming from two different directions," said Fort Worth Fire Department spokesperson Craig Trojacek. "So, a stopped train is not going to stop our response time." The Federal Railroad Administration said it's focused on the safety of all train lengths, but that there is "no empirical evidence that clearly implicates train length in a reduction of safety." A 2024 study of the relationship between train length and derailment risk determined longer trains do have a greater risk of derailment. Trapped in Jeff Kennedy, resident of the Vista Ranch neighborhood in north Fort Worth, calls his subdivision a lollipop neighborhood: "Only one way in and out." To get out of Vista Ranch, residents have to cross the tracks on Tinsley Lane. If a train blocks the crossing, there's no other way in or out. In May, the I-Team witnessed the problem up close when a train lost power and blocked the crossing for more than four hours. "It's a danger, unnecessarily," said Kennedy. Tarrant County construction crews began work last month on a new road that will give neighbors in Vista Ranch another way out without having to cross the train tracks. "That will be good, but it's going to take a while," said Kennedy. "Four to six months. Hopefully, in the meantime, we won't have another train stoppage." Bad for business Chad Beavers, owner of Cold Springs Processing, knows firsthand that blocked train crossings can be more than just a minor inconvenience — they can be bad for business. The grease disposal facility just north of downtown Fort Worth sits between two sets of train tracks, and at times trains block both at once. In fact, Beavers said it happens anywhere from three to eight times a day. "My main goal with our customers is we get you in and we get you out," said Beavers. "And when that doesn't happen, that hurts our bottom line." The I-Team witnessed workers from the factory across the street walking between train cars so they wouldn't be late for work. It's illegal to cut through a train, but workers said it happens all the time. "It's dangerous, but you need a job," said Carson Brown, a forklift operator. "You don't want to lose a job because of a train." Costly Solutions Texas lawmakers filed a House bill during the most recent legislative session to cap the length of a train at 8,500 feet. The bill was never voted on by lawmakers. But even if it had passed, the state can't enforce it. Train length is regulated by the federal government, and there are no federal limits. Building roads around, or bridges over, train tracks is a costly solution. In January, the federal government gave Texas $80 million in rail safety grants. That covered just six projects. This year, Texas also set aside an additional $250 million in a grant program to fund railroad grade separation projects. Despite the investments, with 9,000 train crossing statewide, the funding will not address all the problematic crossings.
