A country's backbone is its vast
that connects all major hubs of economic trade. The United States
has an extensive railway system that touches all corners of the
country and the transportation exchange traded fund (
) looks like it's picking up some speed.
CSX Corp. (NYSE:
), the second-largest U.S. railroad company, announced that
third-quarter profits increased a better-than-expected 43% on
higher automotive shipments that helped rail volumes,
reports Mark Clothier for Bloomberg
. Volume growth increased by 10%, with automotive shipments surging
Union Pacific Corp. (NYSE:
), the largest U.S. transportation company, is investing $2.6
billion in infrastructure capacity for 2010,
according to MarketWatch
. The company is also launching an advertising campaign to show the
company's shipping logistics expertise and target new business
growth. Specifically, the new ad campaign will illustrate the role
Union Pacific has with American businesses.
Union Pacific deals with agricultural products, automotive,
chemicals, energy, industrial products and intermodal. The company
has lines that stretch to the West Coast, Gulf Coast, East Coast,
Canada's railways and gateways to Mexico.
For 2006, the latest year that data was available, the
freight railroad industry
generated $54 billion in revenue, with seven major railroad systems
that created revenues greater or equal to $346.8 million,
according to the Federal Railroad Administration
. There were 33 regional railroads and over 510 local railroads
that spanned almost 141,000 miles in 2006.
For more information on the transportation industry, visit our
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Max Chen contributed to this article.