Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : NYRR,What is going on? -- Ignore unavailable to you. Want to Upgrade?

To: Sal Comunale who wrote (3953)	6/8/1999 7:16:00 PM
From: Mike Hardy	Read Replies (1) \| Respond to of 4304

From todays NY Daily News... Train Deal Floats Boats Barge firm sees a rail advantage in shipping By BILL FARRELL Daily News Staff Writer t wasn't all that long ago that 13 railroads used huge barges to float 2,000 freight cars a day across the harbor between Brooklyn and Jersey City. Those numbers may never be reached again, but at New York Cross Harbor Railroad, operators of the last remaining rail-barge service on the East Coast, they believe float-rail is heading back to the future. Cross Harbor officials are hoping that a new freight handling agreement among the Norfolk Southern Railway, CSX Transportation and the Canadian Pacific Railway that went into effect last week is going to create a boom for their business. "We don't expect to have 1,000 cars waiting for us each day off the bat," said Gregory Kisloff, spokesman for Cross Harbor, "but this agreement is a major opportunity for us, and a benefit to the region." In anticipation of the opportunity, the Bush Terminal-based firm ordered three new locomotives last month. All should be delivered within six to eight weeks. The benefit to the region comes from reducing commercial truck traffic. "One rail car can carry the equivalent amount of freight of four tractor-trailers," said Robert Bentley, president and CEO of Cross Harbor. "Currently, only 3% of New York City's freight comes in by rail. Conversely, between 30% and 40% of New Jersey's freight comes by rail." With a rail system that runs along the Brooklyn waterfront from Bay Ridge to Red Hook, and links to the Long Island Rail Road freight lines at the Fresh Pond Junction in Queens, Bentley says his company is the gateway to the New York City and Long Island marketplaces. "Considering that almost all food and goods are coming in by truck, we can help bring goods in and out by rail, faster and cheaper and at the same time reduce truck traffic," said Bentley. "Right now, the only way anyone can ship freight to Long Island is by truck. It just makes sense to ship goods by rail.' ' Among the major users of Cross Harbor's service is Red Hook-based American Warehousing, which last year alone sent more than 100,000 tons of cocoa beans to the Hershey and Bloomer chocolate works in Pennsylvania. "I'd like to know how many Hershey's Kisses came from Brooklyn," said American Warehousing President Sal Catucci. "Along with our 100,000 tons, another 75,000 tons of those beans are shipped across the harbor by other local companies." Under the deal with Norfolk Southern, which, along with CSX, took control of Conrail's routes, a new facility is being built at Bush Terminal, and the railroads will soon be shipping edible oils and flour. Last week, Norfolk Southern spokesman Rudy Husband said the railroad has reached an agreement with two Midwest shippers to start bringing flour into New York using the cross-harbor service. "We are also in the process of seeking other similar deals," said Husband. He said Norfolk Southern officials will also meet with Cross Harbor officials later this week to discuss other opportunities. Bentley says the opportunities are there. "We have four car floats, two can carry nine to 12 cars and two others can carry between 12 and 15 cars. Without any major expansion, we can handle 25,000 rail cars a year." Original Publication Date: 06/08/1999

To: Sal Comunale who wrote (3953)	6/10/1999 10:18:00 PM
From: Dwayne Hines	Respond to of 4304

NYRR mentioned in NSC's speech to Merrill Lynch yesterday: Remarks by: Henry C. Wolf Vice Chairman and Chief Financial Officer Norfolk Southern Corporation Before the: Merrill Lynch Global Transportation Conference June 9, 1999 New York, New York Good afternoon. It's a pleasure to join you today, and, on behalf of Norfolk Southern, I'd like to thank Mike Lloyd and the entire Merrill Lynch team for inviting us to participate in this conference. I'm sure I don't have to remind anyone here that last week marked the beginning of a new era in transportation as Norfolk Southern began operations of its portion of Conrail in the Northeast. After two and a half years, over four million hours of preparation and more than $6 billion, I can now say, "Welcome to the new Norfolk Southern." By any measure, this is a time of many "firsts" for our industry. Rail competition has been restored to the Northeast for the first time in two decades. Shippers have access for the first time to rail equivalents to Northeast-Southeast highway traffic routes. And Norfolk Southern now has a competitive presence in all major ports and markets east of the Mississippi River, linking customers to the world's economy. In fact, for the first time, I can stand before you today and tell you that we are in our service region - a region east of the Hudson that the New York Harbor Rail/Barge helps us reach. June 1st marked the culmination of the most intensive planning process for the most complex transaction in rail history. The consolidation of two companies in a merger is always complicated, but dividing one company between two competitors, and increasing both the size of the Norfolk Southern system and workforce by nearly 50 percent has been even more challenging.