Gatx Corporation (NYSE:GMT) leases, operates, manages, and remarkets rail and marine-based assets in North America, and to a lesser extent, Europe and Asia. The company operates under four segments: Rail North America, Rail International, American Steamship Company, and Portfolio Management. 2013 segment revenue and operating profits are noted in exhibit 1.
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Regulations: A $30M Problem
Over the past several years, high-profile train derailments have forced regulatory bodies in both the US and Canada to come out with new regulations regarding the movement of flammable materials. The proposed changes set new requirements for tank cars that transport flammable liquid, requiring older cars to be retrofit to be brought up to code. While the proposed...
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