TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| Remote Control Is a Failure for Railroads Railroader Blog submits:CSX (CSX) and the Norfolk Southern Railroad (NSC) released their 2009 first quarter earnings. CSX reported that it had “a better-than-expected first-quarter net profit, due in part to continued strong pricing”, while the NS said it was “aggressively cutting costs in order to offset the drop in freight volumes”. Better than expected, according to CSX, is a 23% drop from 2008. (I would hate to see what it thought a bad quarter would be.) Today, BNSF (BNI) and the Union Pacific Railroad (UNP) will release their first quarter earnings, but will Wall Street continue to celebrate their lackluster performance?It is apparent that the Class 1 railroad network had a dismal first quarter, however who is really to blame for their sluggish start? The Union Pacific, CSX, BNSF, and the NS rolled the dice a few years ago in an attempt to eliminate what they saw as a drain on their budget — their manpower. They used investors' money in an experiment that has failed miserably over the past 3 to 5 years. They threw billions of dollars in the Remote Control Locomotives industry that not only slowed their car count to a crawl, but also spent more in technology than they did in a human being with full benefits.Complete Story » seekingalpha.com |
GM: To File or Not to File, That Is the Question Gerry Sullivan submits: Let me start by saying that [[GM]] will probably file Chapter 11 bankruptcy - either next week or sometime in the next five weeks.They clearly prefer not to file. A bankruptcy filing for GM will create a lot of problems, many more than the Chrysler filing. There are moms and pops and pension funds who own the debt. Not just greedy speculators, the Obama term for the Chrysler secured lenders. These lenders might sue and get a court to grant an injunction.Complete Story » seekingalpha.com |
Royal Caribbean Cruises Ltd. Q2 2009 Earnings Call Transcript Royal Caribbean Cruises Ltd. (RCL)Q2 2009 Earnings CallJuly 29, 2009 9:00 am ETComplete Story » seekingalpha.com |
Southwest’s Gain, AMR’s Pain Zacks.com submits: Southwest Airlines (LUV) said on Friday that its August traffic grew 1.5% to 6.7 billion revenue passenger miles (RPM). Load factor increased to 80.2% from 74.6% last year. However, capacity fell 6.1% from the prior-year period to 8.3 billion available seat miles. In August, Southwest Airlines reported second-quarter profit of $54 million on sales of $2.6 billion. Both revenue and net income declined from the prior year as the carrier was hurt by low demand for business travels. Unless demand rebounds, management sees third-quarter sales shrinking further from second-quarter levels.Complete Story » seekingalpha.com |
Paragon Shipping Income Statement Analysis for September 2009 Quarter Neil Carvin submits: Paragon Shipping, Inc., (NASDAQ: PRGN) earned $0.40 per share in the third quarter of 2009, down from $0.69 in the same quarter of last year. The steepness of the earnings-per-share decline was more due to the 64-percent increase in the weighted average number of diluted shares, after two equity offerings, than the 4.9-percent decrease in Net Income. This post reviews each row of the Income Statement for the quarter in the earnings announcement. We also consulted the separately issued Management's Discussion and Analysis of Financial Condition and Results. Complete Story » seekingalpha.com |