Monday, December 23

Tag: Railroad Rolling Stock

Alstom to Cut Jobs, Scrap Dividend to Accelerate Debt Reduction
15Nov By adminNo Comments
World

Alstom to Cut Jobs, Scrap Dividend to Accelerate Debt Reduction

Updated Nov. 15, 2023 3:27 am ETAlstom plans to cut around 1,500 jobs and scrap its dividend as part of a cost-savings plan to reduce debt and boost profitability.The French train maker said Wednesday that it is also considering equity and equity-like issuances, as well as a capital increase, among potential options to accelerate its debt-reduction plans.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Delays in Acela Upgrade Have Cost Amtrak $140 Million…and Counting
8Nov By adminNo Comments
World

Delays in Acela Upgrade Have Cost Amtrak $140 Million…and Counting

Listen to article(2 minutes)The three-year wait for Amtrak’s overdue new Acela train fleet has cost the railroad $140 million and counting, documents show, a setback for a company that has vowed to improve its stewardship of taxpayer money.As France-based trainmaker Alstom struggles with testing requirements and production defects on the $2.3 billion program to replace the Acela trains, Amtrak has had to spend millions of dollars in maintenance costs to keep its aging, existing fleet in operation. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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