Hays: Neosho must close crossings






February 14, 2001

The city
of Neosho, Mo., has no recourse other than to close two railroad crossings,
City Attorney Steve Hays told the council Nov. 3, The Neosho Daily News reports.
Mayor Pro Tem Richard Davidson asked the council to authorize Hays to speak
to the Missouri Department of Transportation and Kansas City Southern Railway
Company to see what alternatives there were, if any, to closing crossings at
Daugherty Road and Park Street. Essentially, Hays told the council that they
had no alternatives.



Amtrak launches new, improved Website






February 14, 2001

Amtrak is launching a
newly designed Amtrak.com, with a number of features to make it even easier for
customers to book tickets online. The enhanced Web site has a fresh new look
and feel with updated and reorganized content and functionality.

Berkshire Hathaway Inc. to Acquire BNSF for $100 Per Share in Cash and Stock

The boards of directors of Berkshire Hathaway Inc. and Burlington Northern Santa Fe Corporation have entered into an agreement for Berkshire Hathaway to acquire for $100 per share in cash and stock the remaining 77.4 percent of outstanding BNI shares not currently owned to increase its holdings to 100 percent. Based on the number of outstanding BNI shares (including shares currently owned by Berkshire) on Nov. 2, 2009, the transaction is valued at approximately $44 billion, including $10 billion of outstanding BNSF debt, making it the largest acquisition in Berkshire Hathaway history.

"Our country’s future prosperity depends on its having an efficient and well-maintained rail system," said Warren E. Buffett, Berkshire Hathaway chairman and chief executive officer. "Conversely, America must grow and prosper for railroads to do well. Berkshire’s $34 billion investment in BNSF is a huge bet on that company, CEO Matt Rose and his team, and the railroad industry.

"Most important of all, however, it’s an all-in wager on the economic future of the United States," said Mr. Buffett. "I love these bets."

"We are thrilled to have the opportunity to become a part of the Berkshire Hathaway family," said Matthew K. Rose, Burlington Northern Santa Fe chairman, president and chief executive officer. "We admire Warren’s leadership philosophy supporting long-term investment that will allow BNSF to focus on future needs of our railroad, our customers and the U.S. transportation infrastructure. This transaction offers compelling value to our shareholders and is in the best interests of all of our constituents including our customers and employees."

Terms of the Transaction

The definitive agreement provides that each share of BNI common stock will at the election of the shareholder be converted into the right to receive either (i) a cash payment of $100.00 or (ii) a variable number of shares of Berkshire Hathaway Class A or Class B common stock, subject to proration if the elections do not equal approximately 60 percent in cash and 40 percent in stock. The stock component of the consideration is subject to a "collar" whereby the value of each Berkshire Hathaway share received is fixed at $100.00 if the price of Berkshire Hathaway Class A stock at closing is between approximately $80,000.00 and approximately $125,000.00 per share. If the value of Berkshire Hathaway Class A stock is outside of this collar range at closing, then the number of shares received of Berkshire Hathaway Class A stock will be fixed at either 0.001253489 per BNI share for values below the collar range, or 0.000802233 per BNI share for values above the collar range. The shareholder may receive Class A or, in lieu of fractional Class A shares, equivalent economic value of Class B Berkshire Hathaway shares, subject to certain limitations as described in the definitive agreement.

The transaction requires approval by holders of two-thirds of BNI’s outstanding shares (other than shares held by Berkshire Hathaway), and customary closing conditions, including Department of Justice review. Closing is expected to occur during the first quarter of 2010.

BNSF Railway Company will continue to focus on providing outstanding service to its customers from its Fort Worth, TX headquarters. Included in the transaction are all assets and subsidiaries of BNSF.

T-Mobile to provide service in CTA Red, Blue Line tunnels

Add T-Mobile to the list of carriers offering underground cellular service to riders of the Chicago Transit Authority. The CTA signed a 10-year contract with T-Mobile that is expected to generate at least $3.1 million.

T-Mobile is the fifth operator to lease the CTA’s subway network. The others offering service include Cricket Communications, Verizon Wireless and U.S. Cellular. AT&T signed a contract with the CTA in June and service is expected to launch later this year.

CTA is also in talks with Apple over a $4 million deal to spruce up the North/Clybourn station on the Red Line, with the company getting first dibs on advertising and possibly first refusal of naming rights.

SEPTA strike: transit halted

The Philadelphia transit system’s largest union went on strike early Tuesday, stalling the city’s bus, subway and trolley operations a day after the World Series shifted to New York and forcing commuters to scramble to find other ways to get to their destinations, the Associated Press reports.

The strike by Transport Workers Union Local 234 will all but cripple a transit system that averages more than 928,000 trips each weekday. The union represents more than 5,000 drivers, operators and mechanics of the Southeastern Pennsylvania Transportation Authority.

The Election Day strike also affects buses that serve the suburbs in Bucks, Montgomery, and Chester counties. Regional rail service was still operating, but trains were delayed as they experienced higher-than-normal crowds.

The union membership voted Oct. 25 to authorize a strike. They have been without a contract since March.

Union workers, who earn an average $52,000 a year, are seeking an annual four percent wage hike and want to keep the current one percent contribution they make toward the cost of their health care coverage. SEPTA was offering an 11.5 percent wage increase over five years, with no raise in the first year and increases in workers’ pensions.






NS to invest $11 million in Philadelphia Navy Yard IM facility






Norfolk Southern and the
Commonwealth of Pennsylvania are investing $11 million in the railroad’s
Philadelphia Navy Yard intermodal facility to expand track and parking
capacity. The expansion is part of Norfolk Southern’s multi-state Crescent
Corridor initiative to establish a high-speed intermodal freight rail route
between the Gulf Coast and the Northeast. The proposed investment — $6 million
from Norfolk Southern and $5 million from Pennsylvania — will create the
capacity to handle more than 72,000 containers and trailers annually.
Construction is scheduled to begin in mid-2010.

VTA funds ongoing Caltrain safety improvements






The South County Caltrain
Improvement Project is California funded by the Santa Clara Valley
Transportation Authority is under way for future double tracking and capacity
improvements. The project aims to increase Caltrain service capacity and
improve safety by constructing a second set of new railway track along the
Caltrain railway corridor and various intersections from Tilton Avenue in
Morgan Hill, to Blanchard Road in south San Jose. The focus of this
construction work is on utility relocation.

Skoropowski joins HNTB Corporation’s rail team






Eugene Skoropowski has
joined HNTB Corporation as passenger rail services director for the South East
Division, based in the firm’s Lake Mary, Fla., office. He brings more than 40
years of experience gained in a career that spans the nation from Boston to
Oakland, Calif. 

SEPTA $17-million recovery fund investment in Montgomery County






SEPTA General Manager
Joseph Casey, Pennsylvania State Senator Stewart Greenleaf, and Pennsylvania
State Representative Kate Harper, joined with local government and community
leaders at North Wales Regional Rail station to mark the start of extensive
two-year federal American Recovery and Reinvestment Act projects.

Pico Rivera kicks off grade separation project






Robert Perez was out
riding his bike Friday, but like a line of cars behind him, he got stuck on
Passons Boulevard at Slauson Avenue when a freight train stopped on the tracks
ahead, according to The Whittier, Calif., Daily News. The scenario happens almost
daily, officials said. Passenger and freight trains cross the intersection on
two sets of tracks at frequent intervals, and once the railroad company, BNSF,
adds a third track, train crossings will only increase, officials said.

D.C. Metro sets November weekend track maintenance schedule






In November, Metro in Washington,
D.C., will replace fasteners and cross ties, trim leaves and weeds in
preparation for the upcoming slippery rail season, make tunnel repairs and
repairs to its aerial structures to upkeep the tracks and help ensure reliable
Metrorail service. Customers should expect travel delays during the weekends of
Nov. 6 to 8, Nov. 13 to 15, and Nov. 20 to 22. However, track work will be
suspended during the Thanksgiving holiday weekend. 



Pittsburgh councilman pushes north-south city rail system






It usually takes 20 to 30
minutes to drive to Carnegie Mellon University from the former LTV site in
Hazelwood. That commute could take six minutes by train. Pittsburgh Councilman
William Peduto has envisioned the train, and planners have deemed it feasible,
the Pittsburgh Post-Gazette reports.

NWP ready to haul freight again






After years of delay, a
state-funded rail agency has finished repairing the Northwestern Pacific
freight line in California’s Sonoma, Marin and Napa counties, paving the way
for a return of cargo service early next year, according to The Santa Rosa
Press Democrat. But barriers remain before trains roll again on the
102-year-old railroad.

Conn. officials wonder if upgrading rail line will be worthwhile






When federal officials
evaluate the idea of upgrading the New Haven-to-Springfield, Conn., rail line
to accommodate high-speed trains, they’ll have two core questions: Is the
project worthwhile, and can it deliver results quickly?

 At a weekend
conference about the future of America’s rail systems, several experts said the
New Haven-to-Springfield plan-along with dozens of others throughout the
country-will have to meet two essential standards to stand a chance of getting
federal funding, The Hartford Courant reports.

Northstar Fridley Station work progressing

Construction activities
at the Fridley, Minn., Northstar commuter rail station are slightly behind
schedule. However, crews remain optimistic that the station will be ready for
opening day, Nov. 14. Milling and overlay of 61st Way occurred on October 30. Work
on the station elevators was completed the week of Oct. 27, with inspections
occurring he following week. Installation of handrails throughout the station is
complete, as is roof work on the station shelters and east and west.

Pittsburgh’s Gateway T Station closed during construction






The Gateway T station in
Downtown Pittsburgh closed until further notice on Saturday, Oct. 31 to allow
Port Authority of Allegheny County to build a new station near the intersection
of Liberty Avenue and Stanwix Street. The new station will serve the extended T
line, called the North Shore Connector, which is scheduled to be completed by
2012.

New DeKalb Street Bridge in Bridgeport, Pa.






Pennsylvania Governor
Edward G. Rendell joined local officials to open the new $8.4-million DeKalb
Street Bridge carrying Route 202 North over Norfolk Southern railroad tracks in
Bridgeport Borough, Montgomery County.

CREATE project to improve rail infrastructure in Stockyards area






The Chicago Region
Environmental and Transportation Efficiency Program partners said a $10.4-million
project (Project WA3) now under construction east of the Chicago Stockyards
Industrial District is the largest awarded to a contractor to date. It will
double the capacity of the rail corridor through the Stockyards by adding
additional tracks, enabling faster train speeds and utilizing modern signaling
technology. Construction is expected to be completed by late 2010 and will
rehabilitate the railroad viaducts over Halsted, Emerald, and Union Streets.

LA mayor wants transit on fast track






If Mayor Antonio
Villaraigosa has his way, Los Angeles County will soon embark on a
commuter-rail building boom the likes of which the region has never seen, The
Los Angeles Times reports. On Oct. 30, the mayor today will unveil an ambitious
but politically risky transportation plan that fast-tracks several high-profile
rail projects to be completed within the next decade. That’s a big speed-up,
because officials have generally been talking about completing them within 30
years.

Amtrak releases new strategic guidance and five-year plan






With
the release of new Strategic Guidance and the FY 2010-2014 Five Year Financial
Plan, Amtrak aims to continue the solid ridership growth seen in recent years
and position itself to maximize this historic moment in federal and state
support for more passenger rail service, including for the development of
high-speed rail corridors.