December 2019

Banks such as Wells Fargo (WFC +1%), Citigroup (C +1.2%), PNC Financial Services Group (PNC +0.4%), and CIT Group (CIT -0.2%) own hundreds of thousands of railcars that carry all kinds of commodities across North America, the Wall Street Journal reports.

While banks shed many of their ancillary businesses after the financial crisis, many kept their railcars, leasing them and getting a steady stream of revenue.

But flagging railroad demand and changes in commodity markets have undermined that strategy.

More…

The DRAFT California Freight Mobility Plan (CFMP) 2020 is now available for public review. Comments are due no later than January 30, 2020.

The CFMP is a comprehensive plan that governs the immediate and long-range planning activities and capital investments by the state with respect to freight movement. As the national gateway for international trade and domestic commerce, California enhances economic competitiveness by collaboratively developing and operating an integrated, multimodal freight transportation system that provides safe, sustainable freight mobility. This system facilitates the reliable and efficient movement of freight while ensuring a prosperous economy, social equity, and human and environmental health. The CFMP also complies with California State Government Code Section 13978.8(b)(1) (Assembly Bill 14, Lowenthal) and the freight provisions of the federal Fixing America’s Surface Transportation Act (FAST Act) which requires each State that receives funding under the National Highway Freight Program to develop a State Freight Plan.

You can access and review the DRAFT CFMP 2020 here. Instructions on how to leave comments are posted on the website. If you have any questions, please contact the Caltrans Office of Freight Planning at cfmp@dot.ca.gov.