GLG News by Rail Car Leasing Experts

Greenbrier’s reported earnings that were only one third of what had been expected, and even before the special charges due to more plant closing costs and currency losses, the earnings would have been 30% lower than had been recently estimated for the company.  Greenbrier tried to put a positive...

It is difficult to argue with Chris Versace’s facts regarding the past performance of the railcar builders and the railcar industry in general. This is a cyclical industry and the past is often prelude to the future. However, his broad assertions that roughly apply to the industry as a whole and perhaps...

Berkshire Hathaway announced that it had agreed to purchase Marmon Holdings, Inc. from the Pritzker family. Union Tank Car Company, the oldest railcar lessor and tank car builder in the nation, is owed by Marmon and has been the subject of rumors during the past year regarding a possible sale of the...

Freightcar America announced that they were closing the production facility in Johnstown PA after failing to reach an agreement with the unions at the facility to restructure their agreement. The company said that the costs would amount to $34.3 million and would be subtracted from the fourth quarter...

A Fitch Ratings report has predicted that railroads, although likely to face weak traffic demand in 2008, will fare better than trucks because grain and coal volumes should increase over the rails and the vaunted “pricing power” of the railroad companies will remain in force. So what else is new, and...

Union Tank Car announced that it is reducing its production rate at two of its three manufacturing plants effective immediately. Moreover, it is possible that production will also be reduced at the Alexandria LA. The company has indicated that demand has been falling and that the production, which had...

Hunter Harrison predicted that there will be investor pressure on the major railroads in the US to merger and that a large transaction will occur within the next five to six years. Hedging his bets just a little, he further said that these developments would not involve the CN, at least not until 2009...

The American Association of Railroads (AAR) reported that US carload traffic during the week of Nov. 15 was 5.1% higher than the similar week in 2006 and that intermodal traffic was only down 0.8% . Carload traffic began to improve at the start of the fourth quarter, but this was the first time since...

CP Rail recently announced that their third quarter operating income had increased over 7% compared to the same period in 2006 and that its operating ration had improved from 74% to 73%. Although most of the other major, Class I railroads in North America had reported similar results for the 3rdquarter,...

Wabtec announced that they had been awarded a contract by Norfolk Southern (NS) to develop a positive train control (PTC) system. PTC is the first change in the basic method of controlling train operations since the current system was first established in the late 1880s. Previously, the BNSF had awarded...