Union Pacific CEO defends safety practices without mentioning key critic

Jim Vena’s opening remarks Wednesday at the J.P. Morgan 2024 Industrials Conference could easily be seen as a rebuttal to one man: Amit Bose, the chairman of the Federal Railroad Administration.

Bose wrote a letter to the Union Pacific (NYSE: UNP) CEO Feb. 29, responding to reports of extensive furloughs at the Class 1 railroad that serves the Western half of the U.S. “The [FRA] has previously communicated our concerns to UP regarding the potential risks of reducing staffing levels in critical...

https://www.freightwaves.com/news/union-pacific-ceo-defends-safety-practices-without-mentioning-key-critic

Two days, two railroads in the spotlight: Missives flying over Norfolk Southern, Union Pacific

Charges, countercharges and the missives were flying back and forth over the future of two Class 1 railroads as February came to an end, with leading government officials that regulate the rails leveling heavy criticism at two distinct players.

In the proxy battle roiling Norfolk Southern (NYSE: NSC), the activist investor group Ancora is recommending the replacement of eight new directors to the Norfolk Southern board. It also wants to replace CEO Alan Shaw with former UPS executive Jim Barber...

https://www.freightwaves.com/news/two-days-two-railroads-in-the-spotlight-missives-flying-over-norfolk-southern-union-pacific

STB general counsel retires after 51 years of public service

After more than 51 years as a public servant, Craig M. Keats, general counsel for the Surface Transportation Board, officially retired on Jan. 1.

Keats’ career began in 1972 as an attorney for the Interstate Commerce Commission, which was the predecessor of the STB. He joined the Office of General Counsel in 1980, saw through the transition of ICC to STB and was appointed deputy general counsel in 2000 before becoming general counsel in 2013. 

During his career, he provided legal advice to the...

https://www.freightwaves.com/news/stb-general-counsel-retires-after-51-years-of-public-service

Maintenance-of-way rail union and Union Pacific tussle over furloughs

Debate about furloughs at Union Pacific and how many employees could be affected continue to play out in the public arena following a recent industry conference where Surface Transportation Board Chairman Marty Oberman called out Union Pacific leadership.

The Brotherhood of Maintenance of Way – Employes Division (BMWED) sent two letters to the STB: one on Oct. 27 before the RailTrends conference in November hosted by Progressive Railroading and independent Wall Street analyst Tony Hatch and one...

https://www.freightwaves.com/news/maintenance-of-way-rail-union-and-union-pacific-tussle-over-furloughs

STB extends deadline for additional feedback on proposed reciprocal switching rule

The Surface Transportation Board is extending the deadline for industry stakeholders to reply to feedback that the board received on its proposed rule for reciprocal switching.

Industry stakeholders can now take until Dec. 20 to respond to comments given by other stakeholders on the board’s notice for proposed rulemaking on reciprocal switching, which STB describes as a potential remedy to address poor rail service. STB extended the deadline by 14 days; the original deadline was Dec. 6. Meetings...

https://www.freightwaves.com/news/stb-extends-deadline-for-additional-feedback-on-proposed-reciprocal-switching-rule

STB’s Oberman rips into Union Pacific CEO Vena

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NEW YORK — Martin Oberman, chairman of the Surface Transportation Board, had several complimentary...

https://www.freightwaves.com/news/stbs-oberman-rips-into-union-pacific-ceo-vena

STB chairman will not seek reappointment to agency

Surface Transportation Board Chairman Marty Oberman will not seek reappointment to the agency, the STB confirmed late Thursday.

STB spokesman Michael Booth said Oberman announced at the RailTrends conference in New York that he had decided against seeking reappointment, according to a news release from the board. The release said Oberman will continue to serve several months into next year, which is within his one-year holdover period. His current term is set to expire on Dec. 31 of this year.

STB...

https://www.freightwaves.com/news/stb-chairman-will-not-seek-reappointment-to-agency

STB gets earful on proposed rule for reciprocal switching

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The Surface Transportation Board recently closed the comment period for rail stakeholders to file...

https://www.freightwaves.com/news/stb-gets-earful-on-proposed-rule-for-reciprocal-switching

BNSF and coal exporter reach settlement

Western U.S. Class I railroad BNSF and coal producer Navajo Transitional Energy Co. (NTEC) have reached a settlement on NTEC’s claims it needs more service from BNSF to export coal.

They told the Surface Transportation Board in a Thursday filing to postpone further action on the dispute until Jan. 8, 2024, which is when they expect the settlement to be concluded.

NTEC and BNSF (NYSE: BRK-B) “have recently reached a settlement agreement to resolve the matter,” the two said in the filing. They...

https://www.freightwaves.com/news/bnsf-and-coal-exporter-reach-settlement

Norfolk Southern wants close look at proposed CPKC-CSX Southeast corridor

Norfolk Southern wants the Surface Transportation Board to compel Canadian Pacific Kansas City and CSX to provide more information on how their plans to create a Mexico-U.S. Southeast corridor will affect passenger and other freight rail traffic — including the Meridian Speedway that NS operates with CPKC.

NS (NYSE: NSC) is asking STB to get CPKC (NYSE: CP) and CSX (NASDAQ: CSX) to consolidate seven applications into one, as well as require CPKC and CSX to provide more analysis on how their...

https://www.freightwaves.com/news/norfolk-southern-wants-close-look-at-proposed-cpkc-csx-southeast-corridor

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