Norfolk Southern's 2Q profit drops 23 percent as coal slows

[mahatmakanejeeves]

Norfolk Southern's 2Q profit drops 23 percent as coal slows

Posted: Monday, July 27, 2015 1:55 pm
By JOSH FUNK AP Business Writer

OMAHA, Neb. — Norfolk Southern's 23 percent drop in second-quarter profit follows the same story line as other railroads seeing a sharp decline in coal shipments.

Norfolk Southern posted $433 million net income, or $1.41 per share. That's down from $562 million, or $1.79 per share, a year ago.

The Norfolk, Virginia, railroad fell just shy of the per-share earnings of $1.42 that analysts were looking for, according to a poll by FactSet.

Norfolk Southern's revenue decreased 11 percent to $2.71 billion because coal volume fell 21 percent and total volume declined 2 percent. That revenue figure was also more meager than expected. ... Union Pacific and CSX railroads both cited similar challenges when they released results earlier this month.

[Wellstone ruled]

1. Coal Companies have pulled out all the stops

as far as 2016 election campaign cycle is concerned. It's all about killing the EPA and anything that might hinder their sale use or what ever relating to Coal. When you see some of the Campaign contributions coming out of these Companies,what the heck gives,you see the real story behind the Republican Party Candidates. Their message is Big Oil and Big Coal is good for you now get out of our way.

[elleng]

2. It's gotta happen,

we all have to adjust/readjust to a new world.

Lots of options for those who recognize need, and then ability to develop NEW tech.

His plan addresses not only consumer energy use, but also industry and transportation.

In Mr. O’Malley’s plan, announced just over a month ago, the former Maryland governor said that “a moral obligation to future generations to act immediately and aggressively” required us to transition to a fully clean energy economy by 2050.

In his white paper, O’Malley argued that the transition to 100 percent clean energy is the biggest job-creation opportunity the country has seen in a century. He proposes creating a “Clean Energy Jobs Corps” which will work with local communities on energy-saving projects.

He criticized the “all-of-the-above” energy policy used by the White House, stating: “We can’t meet the climate challenge with an all-of-­the‐above energy strategy, or from drilling off our coasts, or from building pipelines that bring oil from tar sands in Canada.”

O’Malley plans to seek a cap on carbon emissions from all fossil fuel sources, and use proceeds from federal permits to help lower- and middle-class families with job transition assistance. He also said that he would reject projects such as the Keystone XL pipeline.

During his two terms as governor of Maryland, O'Malley doubled Maryland's renewable fuel production, and reduced the state’s greenhouse gases by 10 percent.

“The fact is, there is no either/or choice between our prosperity and protecting our planet — we can create a future where there are more jobs, and a future with a livable climate,” O’Malley wrote in an op-ed for USA Today. “And there is no future for humankind without a livable climate.”

http://www.csmonitor.com/USA/USA-Update/2015/0727/How-does-Hillary-s-climate-change-plan-compare-to-Martin-O-Malley-s