The Surface Transportation Board has instructed four U.S.-based Class I railroads each to submit a report outlining how they expect to improve rail service. The board is also asking for additional data on operations and employment from all the Class I railroads.
The request follows STB’s two-day hearing April 26 and 27 held in response to reports from shippers about deteriorating rail service. Rail labor, rail experts and the railroads themselves spoke at the hearing.
Four railroads — Union Pacific (NYSE: UNP), BNSF (NYSE: BRK.B), CSX (NASDAQ: CSX) and Norfolk Southern (NYSE: NSC) — will submit service recovery plans as well as provide biweekly written progress updates, and they will participate in biweekly conference calls with STB staff.
