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Oct 15, 2014

CSX CEO: Further US rail consolidation could disrupt service

CHICAGO, Oct 15 (Reuters) – Further consolidation of major
U.S. railroads could lead to service disruptions rather than
improvements in U.S. rail freight congestion, the chief
executive of CSX Corp said in a conference call with analysts on
Wednesday.

“We might actually see a step back in service,” Michael Ward
said when asked whether consolidation would improve rail
capacity.

Oct 14, 2014

CSX profit up, beats forecasts as U.S. economy boosts freight

CHICAGO (Reuters) – No. 3 U.S. railroad CSX Corp on Tuesday reported a rise in third-quarter profit, beating forecasts and predicting double-digit growth for 2015 as it moved more freight on its network due to a growing U.S. economy.

CSX will stay focused on a strategy that will enable it “to grow faster than the economy,” raise prices above inflation and make needed strategic investments, Chief Executive Michael Ward said in a statement accompanying the results.

Oct 13, 2014

Bid report boosts CSX stock, but deal seen unlikely

CHICAGO, Oct 13 (Reuters) – Shares of No. 3 U.S. railroad
CSX Corp rose nearly 10 percent on Monday following a
report of a rebuffed takeover bid by Canadian Pacific Railway
Ltd, but analysts said any such deal would face
significant regulatory and other hurdles.

“You could make the argument that there is not much overlap
between the two networks and between their businesses,” said Jim
Corridore, head of industrials equity research at Standard &
Poor’s. “But they would face significant hurdles of getting a
merger passed by the U.S. Surface Transportation Board (STB).”

Oct 13, 2014

Bid report lifts CSX stock, but analysts skeptical of deal

CHICAGO, Oct 13 (Reuters) – Shares of No. 3 U.S. railroad
CSX Corp rose nearly 10 percent on Monday following a
report of a rebuffed takeover bid by Canadian Pacific Railway
Ltd, but analysts said any such deal would face
significant regulatory and other hurdles.

According to the report in the Wall Street Journal late on
Sunday, the No. 2 Canadian railroad made a bid last week for
Jacksonville, Florida-based CSX, which rejected the offer. Both
companies said they did not comment on market rumors.

Oct 2, 2014

Expanding U.S. economy exposes rising truck driver shortage

2 (Reuters) – As the U.S. economy firms, with
consumer demand and housing starts rising, trucking companies
are finding themselves scrambling to find drivers to bring goods
to market.

The industry is short about 35,000 truck drivers, according
to industry lobby group the American Trucking Associations
(ATA). The shortage has left major carriers struggling, pushed
up freight rates, and could contribute to an increase in
inflation, analysts said. The shortfall could grow to around
240,000 drivers by 2020 if it is not addressed, the ATA said.

Sep 17, 2014

FedEx sees e-commerce driving record holiday season

CHICAGO (Reuters) – Package delivery company FedEx Corp should enjoy a record holiday peak season thanks to the continued rise of online consumer sales in the United States, company officials said on Wednesday.

Executive vice president Michael Glenn said on a conference call with analysts after FedEx reported better-than-expected quarterly results that the company would add more than 50,000 seasonal workers to handle the anticipated spike in shipping.

Aug 26, 2014

Michael Brown remembered in Missouri with calls for peace, justice

LOUIS, Aug 25 (Reuters) – Family and supporters of
Michael Brown on Monday celebrated the life of the black
teenager killed by a white police officer in Ferguson, Missouri,
in a music-filled funeral service ringing with calls for peace
and police reforms.

Brown’s body lay in a black and gold casket at the Friendly
Temple Missionary Baptist Church, topped with the St. Louis
Cardinals baseball cap he was wearing when he was shot dead on
Aug. 9.

Aug 25, 2014

Slain Missouri teen remembered with calls for peace, justice

LOUIS, Aug 25 (Reuters) – Family and supporters on
Monday celebrated the life of Michael Brown, a black teenager
slain by police in Ferguson, Missouri, with a music-filled
funeral service and calls to remember him with peace and
political change.

Brown’s body lay at the Friendly Temple Missionary Baptist
Church in a black and gold casket, topped with the St. Louis
Cardinals baseball cap he was wearing when he was killed on Aug.
9 in nearby Ferguson by a white police officer.

Aug 25, 2014

Mourners, civil rights leaders attend funeral of slain Missouri teen

LOUIS (Reuters) – Mourners sang, clapped and danced on Monday at funeral services for Michael Brown, remembering the slain black teenager with words of goodwill and joy rather than the violence and outrage that followed his killing by a white police officer.

Brown’s body lay at the Friendly Temple Missionary Baptist Church in a black and gold casket, topped with the St. Louis Cardinals baseball cap he was wearing when he was killed on Aug. 9 in Ferguson, Missouri.

Aug 25, 2014

Father of black Ferguson teen appeals for calm at funeral

By Nick Carey and Edward McAllister

FERGUSON Mo. (Reuters) – The father of Michael Brown, the black teenager who was shot dead by a white police officer in Ferguson, Missouri on Aug. 9, appealed for calm as family, politicians and activists gathered for the funeral on Monday following weeks of unrest.

The sometimes violent protests have spawned headlines around the world and have focused attention on racial issues in the United States. Local police have been criticised for mass arrests and the use of heavy-handed tactics and military gear.

    • About Nick

      "Nick Carey is a Chicago-based, British-born journalist who has covered everything from the near-collapse of the Big Three automakers to the U.S. housing crisis. Nick is currently on general assignment, reporting on the human impact of the recession. He previously spent ten years working in central and eastern Europe."
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