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US: Railroads Warn of Widespread Shutdowns Unless PTC Deadline Extended

2015-10-21 06:12:43| Railroads - Topix.net

Oct. 20--Major rail companies on Monday intensified their demands that Congress give them more time to roll out a complex accident prevention technology that can take control of trains to help mitigate human error -- or warned that they could face major service shutdowns around the country. Companies have been working for seven years to develop and install the multi-faceted technology -- called positive train control -- since receiving a federal mandate in the Rail Safety Improvement Act of 2008.

Tags: extended deadline widespread warn

Senators Warn on Fannie Mae and Freddie Mac Vulnerability

2015-10-20 09:00:00| National Real Estate Investor

The leading providers of capital for multifamily loans are still on shaky groundyears after the financial crisis ended. read more

Tags: mac warn senators mae

Railroads warn they will miss safety system deadline, cargo shipments at risk

2015-10-20 02:37:46| Railroads - Topix.net

Railroads warn they are on track to miss a Dec. 31 deadline for installing complex new safety technology on trains that carry cargo, and are pushing Congress to extend the deadline or else oil, gasoline and other goods moved by rail could be stopped in their tracks, FuelFix reports. Major U.S. freight railroads, including BNSF , CSX and Norfolk Southern , have said they will shut down many operations on Dec. 31 to comply with the deadline and avoid hefty fines; because railroads would be forced to begin shutting down services weeks earlier, they need a clear signal from Congress before the end of October, Association of American Railroads president Ed Hamberger says.

Tags: system safety miss risk