Rail to the Chief

Railroad Weekly February 19, 2024

courtesy: Timothy Wildey

Inside This Issue  

·   Rail to the Chief: President Biden Visits East Palestine, Slams NS  

·   We’d Appreciate if You’d Mediate: CN, CPKC Ask Ottawa for Labor Help

·   Wab Grab: CSX Hires Wabtec to Upgrade More of its Locos

·   Still No Train. Explain: STB Wants Answers on Stalled Amtrak Gulf Service  

·   My Cousin Vena: UP Chief Not Yet Going Outside the Family for New Execs  

·   Ballast in Wonderland: Rail Suppliers Faring Well Despite Weak Traffic

·   Coming Up: BNSF Earnings, Updates from Other Class Is

Track Talk

“This was an act of greed that was 100% preventable… Norfolk Southern failed in its responsibility.”

-U.S. President Joe Biden, speaking last week in East Palestine, Ohio

The Latest

·   It was an eventful week in railroad-ville, with President Biden visiting East Palestine, CSX modernizing more of its locomotives, railcar suppliers providing a market update, Amtrak taking heat from the STB, and Canada’s Class Is turning to Ottawa for help with their labor pains. This week we’ll hear directly from the railroads as Class I executives address investor events hosted by Citi and Barclays. Are operations back on track after January’s winter weather disruptions? Any further green shoots in the intermodal market? Any changes to this year’s outlook for demand? Expect a lot of new updates and insight.

·   Also this week: Warren Buffett’s Berkshire Hathaway will report Q4 earnings, publishing detailed information about BNSF. It’s the only Class I railroad that hasn’t yet reported.   

·   As mentioned, President Biden visited East Palestine last week, commemorating the one-year anniversary of Norfolk Southern’s chemical spill. For the politically