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This continues to be a solid sign that the economy is doing okay.
Per <a href="http://pragcap.com/intermodal-rail-traffic-hits-new-high">Cullen Roche</a>, <keyword id="65465" type="UNKNOWN" weightage="60" keywordseo="Rail-traffic">rail traffic</keyword> growth has hit a 7-month high. Shipping of commodity products across the board are strong, indicating that the underlying pace of US economic activity remains steady.
<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pragcap.com/intermodal-rail-traffic-hits-new-high">Pragmatic Capitalism</a></div></div></div>

Rail Traffic Continues To Boom

<keyword id="65465" type="UNKNOWN" weightage="60" keywordseo="Rail-traffic">Rail traffic</keyword> is seen as a great gauge of the economy, since it represents moving goods that people are buying and selling in the real economy.
And at least by this measure, it looks like things are going well.
<a href="http://pragcap.com/rail-traffic-logs-highest-reading-in-7-months">Cullen Roche at Pragmatic Capitalist</a> flags the fact that <keyword id="6366234" type="ORGANIZATION" weightage="60" keywordseo="Rail">rail</keyword> traffic just hit its best level in 7 months, with a 10.8% weekly surge.
One thing that seems clear is that the economic impact of the shutdown is not showing up in a significant way in the data yet.
<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pragcap.com/rail-traffic-logs-highest-reading-in-7-months">PragCap</a></div></div></div>

Rail Traffic Just Had Its Best Week In 7 Months

Here's an important indicator of the economy that appears to be getting stronger and stronger.
<keyword id="65465" type="UNKNOWN" weightage="60" keywordseo="Rail-traffic">Rail traffic</keyword> growth is at a 6-month high per this chart from <a href="http://pragcap.com/rail-traffic-hits-new-6-month-highs">Cullen Roche</a>.
<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pragcap.com/rail-traffic-hits-new-6-month-highs">PragCap</a></div></div></div>
<keyword id="6366234" type="ORGANIZATION" weightage="60" keywordseo="Rail">Rail</keyword> tends to be a reliable gauge of the overall economy, given that various commodities and industrial goods are shipped that way. So this is a good sign.

Rail Traffic Just Keeps Getting Stronger

<ul><li>The shares of RailTel listed at about 16% higher at ₹109 apiece, compared to the IPO issue price of ₹93-94 per share.</li><li>Within minutes after listing, the shares of RailTel gained 7% of their value and were trading at ₹111.7 apiece at 10:05 am in an otherwise tepid market.</li><li>The listing is also in line with analysts expectations — which predicted listing gains above 15%.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The ₹819 crore ($112 million) initial public offering (IPO) of state-run RailTel Corp made a decent debut after a tremendous investor response. The shares of RailTel listed at about 16% higher at ₹109 apiece, compared to the IPO issue price of ₹93-94 per share. Within minutes after listing, the shares of RailTel gained 7% of their value and were trading at ₹111.7 apiece at 10:05 am in an otherwise tepid market. The company's market value expanded to ₹3,669 crore after the listing. RailTel is a government-owned information and communications technology (ICT) infrastructure provider firm and India's largest neutral telecom infrastructure provider. Nearly all the brokerages have given a ‘subscribe’ rating for the issue, citing long term as well as listing gains. According to investment experts, the best thing is the company’s exclusive right to generate additional revenues by creating nationwide broadband and multimedia networks by laying optical fibre cable along railway tracks. The IPO was subscribed 42 times and generated bids worth more than ₹259.42 crore against the offer size of 6.12 crore shares. The portion of the IPO reserved for retail investors was subscribed 16.78 times, whereas the qualified institutional buyer was subscribed 65.29 times. Grey market premium fizzled out ahead of the listing Although the high number of subscriptions showed an excellent demand for its shares, just days ahead of the listing, the company's grey market premium fizzled nearly 62%, amid the high market volatility this week. The shares that were earlier commanding a premium of ₹35-40 were significantly down to ₹10-15 a share. The listing is also in line with analysts expectations — which predicted listing gains above 15%. “We expect <keyword id="293520" type="COMPANY" weightage="20" keywordseo="RailTel-Corporation">RailTel Corporation</keyword> to list at a premium of around 15% above the issue price. Company has priced its issue at 21.4x PE on a FY20 trailing basis, which is quite reasonable by looking at the strong future growth rates of the company,” said Keshav Lahoti, Associate Equity Analyst at Angel Broking. The price-to-earnings (P/E) ratio shows the price that the market is willing to pay for a stock based on its earnings. Higher the P/E, the more expensive the stock. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/india-saw-the-birth-of-two-new-unicorns-this-week-both-their-valuations-have-swelled-multiple-times-in-just-a-few-months/articleshow/81221476.cms">India saw the birth of two new unicorns this week – both their valuations have swelled multiple times in just a few months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-signal-and-telegram-face-a-catch-22-situation-as-indias-new-social-media-rules-threaten-encryption/articleshow/81221070.cms">Whatsapp, Signal and Telegram face a catch-22 situation as India’s new social media rules threaten encryption</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/whatsapp-signal-and-telegram-face-a-catch-22-situation-as-indias-new-social-media-rules-threaten-encryption/articleshow/81221070.cms"></a>

RailTel makes a decent debut — shares list on bourses at 16% premium

<ul class="summary-list"><li><keyword id="60973" type="PERSON" weightage="60" keywordseo="Biden">Biden</keyword>'s administration restored $929 million in grant funding for <keyword id="2379" type="CITY" weightage="60" keywordseo="California">California</keyword>'s high-speed <keyword id="6366234" type="UNKNOWN" weightage="60" keywordseo="rail">rail</keyword>.</li><li><keyword id="6354862" type="UNKNOWN" weightage="60" keywordseo="trump">Trump</keyword>'s administration cancelled the funding after he called the rail project "a 'green' disaster!"</li><li>The train will get passengers from San Francisco to Los Angeles in 2 hours and 40 minutes.</li></ul>President Joe Biden's administration has restored about $929 million in funding for the California high-speed rail project, reversing a cancellation by President Donald Trump's administration.In May 2019, the administration said the state hadn't <a href="https://www.businessinsider.com/trump-administration-pulls-1b-for-california-rail-project-2019-5">stuck to its original plan</a> for the high-speed rail between San Francisco and Los Angeles. The Federal Railway Administration mentioned in <a href="https://railroads.dot.gov/sites/fra.dot.gov/files/fra_net/18618/CHSRA%20-%20FY%2010%20Agreement%20-%20Final%20Decision%20-%20Signed%20-%205-16-2019.pdf">a letter</a> that month California's "repeated failure to submit critical required deliverables" and make progress on the project. California and its High-Speed Rail Authority responded this year with a legal action against a grouping of federal agencies and officials, including the <keyword id="34991" type="ORGANIZATION" weightage="100" keywordseo="transportation">transportation</keyword> secretary Pete <keyword id="4219118" type="PERSON" weightage="60" keywordseo="buttigieg">Buttigieg</keyword>. They requested that the grant funding be restored, saying the Trump administration's cancellation was "arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with the law."The parties entered talks in March, according to <a href="https://www.reuters.com/world/us/biden-administration-restores-929-mln-california-high-speed-rail-2021-06-11/">Reuters</a>. A month later, Biden introduced a sweeping infrastructure proposal with about <a href="https://www.businessinsider.com/amtrak-80-billion-upgrades-routes-las-vegas-and-nashville-2021-4">$80 billion</a> for upgrades to Amtrak and other federal and state rail services, although <a href="https://www.businessinsider.com/amtrak-80-billion-rail-plan-doesnt-include-high-speed-rail-2021-4">high-speed rail projects</a> were notably absent.The parties reached <a href="https://hsr.ca.gov/wp-content/uploads/2021/06/California-v.-DOT-Settlement-Agreement-Final-May-26.pdf">a settlement</a> on Thursday, June 10, which restored the funding and barred California from bringing future claims over the funding cancellation. California politicians praised the funding, with House Speaker Nancy Pelosi releasing <a href="https://www.speaker.gov/newsroom/61021-4">a statement</a> saying it was "great news for our state and nation." She said the funding would keep the "transformative project moving down the track."California Governor Gavin Newsom announced the news on Thursday night, saying the project had more than 35 active construction with an average of about 1,100 workers on site each day. "Tonight's action by the federal government is further proof that California and the Biden-Harris Administration share a common vision - clean, electrified transportation that will serve generations to come," he said in <a href="https://www.gov.ca.gov/2021/06/10/governor-newsom-statement-on-federal-funding-agreement-for-california-high-speed-rail-project/">a statement</a>.California voters in 2008 approved $9.95 billion in bonds to partially fund the project. In the 12 years prior to that, the state had spent about $60 million on "pre-construction" activities, according to the state's <a href="https://lao.ca.gov/ballot/2008/1A_11_2008.aspx">Legislative Analyst's Office</a>, a nonpartisan advisory group. The total project was expected to cost <a href="https://www.businessinsider.com/californias-controversial-high-speed-rail-system-is-up-against-a-new-challenge-2016-1">about $68 billion</a>. When completed, the train promises to be among the quickest in the world. Hitting speeds over 200 miles per hour, it will make the trip from San Francisco to Los Angeles in about 2 hours and 40 minutes, according to the state.The project <a href="https://www.businessinsider.com/r-california-leaders-set-sights-on-high-speed-rail-construction-2015-1">officially broke ground</a> in January 2015 under Governor Jerry Brown.Newsom and Trump <a href="https://www.businessinsider.com/california-governor-gavin-newsom-responds-to-trump-high-speed-rail-2019-2">traded tweets</a> about high-speed rail in 2019, before the Trump administration cancelled the $929 million. "California has been forced to cancel the massive bullet train project after having spent and wasted many billions of dollars," Trump said on Twitter. "They owe the Federal Government three and a half billion dollars. We want that money back now. Whole project is a 'green' disaster!"Newsom called Trump's tweet "fake news," adding: "This is CA's money, allocated by Congress for this project. We're not giving it back." Construction on the first leg was expected to be completed in 2029.

Biden restores $929 million in funding for the California high-speed rail project that was cancelled by Trump

Rail = the real economy.
This is good.
<blockquote class="twitter-tweet">
Highest 12 week moving average in <keyword id="65465" type="UNKNOWN" weightage="60" keywordseo="Rail-traffic">rail traffic</keyword> since 2011. <a href="http://t.co/TIez07ATMG" title="http://twitter.com/cullenroche/status/309762600936292353/photo/1">twitter.com/cullenroche/st…</a>
— Cullen Roche (@cullenroche) <a href="https://twitter.com/cullenroche/status/309762600936292353">March 7, 2013</a></blockquote>

The Rail Traffic Chart That Should Eliminate Any Of Your Worries About The US Economy

<ul class="summary-list"><li><keyword id="262185" type="COMPANY" weightage="60" keywordseo="Amtrak">Amtrak</keyword> has unveiled a plan to further connect the US by rail but it doesn't include high-speed rail.</li><li>New routes will be added and current routes will be upgraded as Amtrak aims to repair its network.</li><li>Private companies and states have taken up the costly task of building high-speed rail on their own.</li></ul>Americans are all-aboard for high-speed rail but Amtrak's new rail plan is putting the brakes on bullet <keyword id="41341" type="ORGANIZATION" weightage="60" keywordseo="train">train</keyword> dreams. Amtrak is getting ready to spend $80 billion of the federal government's money as part of <a href="https://www.businessinsider.com/biden-2-trillion-infrastructure-plan-roads-bridges-broadband-power-2021-3">President Joe Biden's planned $4 trillion infrastructure bills</a>. The "<a href="http://media.amtrak.com/wp-content/uploads/2021/04/Amtrak-Connects-US-Fact-Sheet.pdf">Amtrak Connects US</a>" plan calls for greater rail connectivity across the US with the addition of new routes and improvement of old ones in a major step forward for America's rail system. But one phrase is notably missing from Amtrak's proposal: high-speed rail. Amtrak's fact sheet doesn't mention the phrase even once.Rather, Amtrak is using the <a href="https://www.businessinsider.com/map-amtrak-could-build-expanded-rail-network-biden-infrastructure-plan-2021-4">billions to give service to rail-strapped cities like Phoenix, Las Vegas, and Nashville, Tennessee, and upgrade existing lines</a>. Not one penny will be spent towards building a clean-slate high-speed rail line even though getting America's high-speed rail network in line with those in Europe and Asia is a desire for many Americans.Jim Mathews, president and CEO of the Rail Passengers Association, told Insider that Amtrak may still be decades away from true high-speed rail and is still readjusting from an era of extreme cost-cutting. "As recently as three years ago, Amtrak senior leadership was out talking about how routes have to make a profit and long-distance routes shouldn't exist," Mathews said, referring to the tenure of former Delta Air Lines chief executive officer Richard Anderson that saw <a href="https://www.businessinsider.com/amtrak-new-contemporary-dining-car-review-lake-shore-limited-2019-10">Amtrak's most nostalgic offerings cut in a bid to save costs</a>.Read More: <a href="https://www.businessinsider.com/issues-that-could-tank-bidens-infrastructure-plan-congress-salt-taxes-2021-4">Here are 9 hurdles Biden's infrastructure plan would have to overcome in Congress before it can become law</a>Before Amtrak can even consider a brand-new high-speed rail network, there's still a backlog of repairs to work through on its existing lines. And unlike regional transit authorities, Amtrak's network stretches from sea to shining sea, leaving a lot to maintain and update. "There's all these sort of boring infrastructure investments that you got to do," Mathews said. On the Northeast Corridor, where <a href="https://www.businessinsider.com/riding-amtrak-acela-boston-to-new-york-during-pandemic-review-2020-12">Amtrak has its only high-speed service with the Acela</a>, Mathews said that it would cost around $50 billion just to get the line to a "state of good repair." That's 62.5% of Amtrak's proposed $80 billion funding from the infrastructure bill in just repairs alone and not even laying the foundation for true high-speed rail in the Northeast.True high-speed rail would require new infrastructure, including straight lines of track so <keyword id="6360847" type="UNKNOWN" weightage="60" keywordseo="trains">trains</keyword> can achieve their top speeds. In congested regions like the Northeast, that means spending millions if not billions just to purchase property along the line's planned route. "Politically, high-speed has a different ring to it and I think Amtrak is probably unwilling to step into that," Mathews said. "From their point of view, they're like, 'Hey, we just want to run our trains. We want to run more trains and we want them to be on time.'"Amtrak is already spread thin in its languishing nationwide network. Existing infrastructure across the US has fallen into disrepair and battles with freight railroads prohibit Amtrak from being competitive on existing lines. Private companies have instead spearheaded the effort to bring high-speed rail to the US. Brightline built a high-speed line to connect West Palm Beach and Miami in Florida that will soon be connected all the way to Orlando. In Texas, the Texas Central Railroad is developing a high-speed rail line that will connect Dallas and Houston in only 90 minutes. California has even taken up the mantle with a new high-speed rail line between Los Angeles and San Francisco. Construction is currently underway with the 800-mile line taking at least 14 years to complete at an estimated cost of at least $68 billion, according to <a href="https://www.architectmagazine.com/design/buildings/california-officials-break-ground-on-high-speed-rail_o#:~:text=After%20a%20two%2Dyear%20wait%2C%20brought%20by%20legal%20setbacks%2C,ground%20today%20in%20Fresno%2C%20Calif.&amp;text=Projected%20to%20be%20at%20least,least%2014%20years%20to%20complete.ete.">Architect Magazine</a>. Amtrak is introducing <a href="https://www.businessinsider.com/amtrak-new-acela-train-cars-photo-2019-8">new trains to the Acela line but those will only travel slightly faster than the current train sets</a>. And pre-pandemic non-stop service between New York and Washington still took two hours and 30 minutes, despite being a comparable distance to the planned route between Dallas and Houston.<h2>"What about grandma?"</h2>Critics of Amtrak and its money-losing ways look too much at the big picture, according to Mathews, and not at the smaller journeys that are more in line with Amtrak's original congressional charter. Only around 10% of riders take the full length of a long-distance service like the Empire Builder between Chicago and Seattle, for example, whereas most customers are taking the train between intermediary stops. "The vast majority of trips take place in between," Mathews said. And those short-distance trips between say Staples, Minnesota and Wolf Point, Montana, where convenient air service is a distant dream, is Amtrak's bread and butter. Fares are comparatively lower than flying and trains can better accommodate passengers that face issues when flying, whether it be because they require medical devices or the nearest airport is hours away. Keeping those smaller cities connected is also the reason why Amtrak rushed to get long-distance trains back to daily service after they were reduced to three-times-weekly service during the pandemic. Restoring them to daily service may have seemed counter-intuitive from a revenue perspective but the move ensures more Americans that rely on the rails have access to it. When Amtrak does eventually enter the high-speed rail realm, it may be relegated to the lines that private companies haven't already scooped up. But Mathews believes that's alright because the rail corporation's purview, after all, is to serve the entire country - profitable or not.

You Searched For "Rail" and got 7 results

Rail Traffic Continues To Boom

Joe Weisenthal

Rail Traffic Just Had Its Best Week In 7 Months

Joe Weisenthal

Rail Traffic Just Keeps Getting Stronger

Joe Weisenthal

RailTel makes a decent debut — shares list on bourses at 16% premium

Navdeep Yadav

Biden restores $929 million in funding for the California high-speed rail project that was cancelled by Trump

Kevin Shalvey

The Rail Traffic Chart That Should Eliminate Any Of Your Worries About The US Economy

Joe Weisenthal

Amtrak's $80 billion plan to connect the US is the latest step in a rail revolution but has a glaring omission: high-speed rail

Thomas Pallini

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