buy union pacific over norfolk southern.e is the reasons, first and foremost the rails began a big repricing for new contracts. cycle starting in 2003. we are now in the late innings of this story. it not quite over and union pacific has the most upside from repricing going forward, that's the key metric in the rail business. to understand what is happening here, we need to go to the way back machine when the railroads were federally regulated and the government decided how much they could charge for shipping. they were deregulated but did not change their pricing model. it caused rates to fall from 1980 through 2003. now the rates have been rising, and it's led to a railroad growth in the last decade and gave you multiple year gains. union pacific has rallied 375% over the last nine years and it's not finished. union pacific has 8% of their contracts up for repricing and that is on top of 4% of their contracts that were just repriced. that is how you get upside surprises. norfolk southern, 3% of their contracts are up for r

norfolk southern. one line, infinate possibilities. corporate funding is also provided by prudential financial, boeing, additional funding is provided by the annenberg foundation, the corporation for public broadcasting and by cryptions to pbs stations from viewers like you. thank you. once again, live from washington, moderator gwen ifill. gwen: good evening. you can tell we're approaching another do or die moment in this republican primary contest as the criticism gets more personal and the predictions more apocalyptic. next week's tests occur in arizona and michigan where this week there were high-minded speeches, low-minded negative advertising and one big debate. in this exchange the argument between romney and santorum seemed to be about birth control, but it really was about who do you trust? >> you said i personally opposed creptives -- crept isks but said you -- contraceptisks but voted for title x. you didn't say this was something i was opposed to. you said it in a positive light. >> i think i was making it clear that while

norfolk southern. additional funding is provided by the annenberg foundation, the corporation for public broadcasting and by contributions to your pbs station from viewers like you. thank you. once again, live from washington, moderator gwen ifill. gwen: good evening. the candidate who has captured the imagination of republican voters this week doesn't have a national headquarters, a 50-state campaign infrastructure, or even a fancy campaign bus. but he seems to have one big advantage at least for now, his last name is not romney. so another big primary fight is under way. and in a half dozen states, this is what voters are seeing. >> santorum even voted to raise his own pay and joined hillary clinton to let convicted felons vote. rick santorum. big spender. washington insider. >> mitt romney's negative attack machine is back. on full throttle. this time romney's firing his mud at rick santorum. gwen: but as santorum is soaring in state and national polls right now, it's because people are -- is it bec

norfolk southern, one line, infinite possibilities. >> corporate funding is also provided by -- prudential financial, boeing. additional funding is providing by the annenberg foundation, the corporation for public broadcasting and by contributions to pbs stations from viewers like you. thank you. once again live from washington, moderator gwen ifill. gwen: good evening. last week we were talking about the economy, but this week republicans jockeyed for the party's most conservative voters and president obama was forced into a political corner by catholic bishops opposed to birth control. the president decided to try to defuse the controversy with an appearance in the white house briefing room today. >> if a woman's employer is a charity or a hospital that has a religious objection to providing contraceptive services as part of their health plan, the insurance company, not the hospital, not the charity, will be required to reach out and offer the woman contraceptive care free of charge, without co-pays and without hassles. gwen: there was a religious liberty argument. there was a health car

norfolk southern. one line, infinity -- infinity possibilities. >> corporate funding is also provided by prudential financial. boeing. additional funding is provided by the annenberg foundation, the corporation for public broadcasting, and by contributions to pbs stations from viewers like you. thank you. from viewers like you. thank you. >> you're watching pbs.

take a look at norfolk southern and csx. the risk/reward is pretty compelling. you have maybe 5 persian or 10% downside as the rest of this goal issue gets priced in. you have 20% to 30% upside potential that's a good trade-off. >> could the negative coal issue be mitigated, swap out the dry rail cars, put on some flatbeds and instead of trucking new cars, put them on rails because it's more cost effective? >> you're seeing increased auto volume on the rails. auto volumes up 15% to 20%. it's a much smaller category than coal. >> that was happening anyway. it's not a substitution. that was going to occur. they just add the flatbeds. chris, right now, what are you assuming in terms of the rest of the winter? you have to make an assumption in terms of coal volumes going further -- declining further, are you assuming we're going to keep going with these degree days or is it going to get colder? >> not trying to predict the weather. but we have said let's make a conservative assumption and assume that coal doesn't get better. if it's down 12% or 13% so far in the fir

because the real weakness in the sector is coming from the rails like csx, norfolk southern, union pacificnd the chief cargo for these railroads is coal. the sudden, precipitous and lasting decline in the price of natural gas which i do think is bottoming albeit at a low level. is at the root of the whole transportation weakness, as is the perception that president obama will be reelected and utilities live in fear of the obama anti-coal epa. therefore it makes good political and economic sense to switch from coal to natural gas if you're a utility, and that's crushing the rails, which is, in turn, pummeling the transport index. next negative. we need to see improvement in the housing, the approximate cause of the debacle in the first place. you have to believe a tipping point is on the horizon, but right now, some of the companies that make things which go into housing are feeling the pain of the current low bill rate. when both masco and owens corning are giving terrible misses, it does inject a level of skepticism, some would say fear, into this market that makes us question the elevate

the heavier snow down on the virginia-west virginia border, with rain toward richmond and norfolk and southern maryland. the storm system moves through quickly, off the outer banks, out to sea. we'll get a few hours of the snow, tapering off before dawn monday morning. during the day monday it will clear. still the potential this storm could miss us. the probability of missing entirely is 10%. light snowfall, 60% chance, moderate snow fall 20% chance, the heavier stuff, only about a 10% chance. the most likely scenario is to get 2-5 inches of snow during the late afternoon and evening of sunday. tomorrow, sunshine, 49-54. the snow chances, and sunday afternoon into sunday night, clearing out presidents day. highs in the 40's, low 50's tuesday and wednesday. >>> in tonight's consumer alert, maryland regulators have approved a $7.5 billion takeover of constellation energy. that means the company will set up shop at a facility in harbor point, between harbour east and fells point. the decision follows months of wrangling between state officials and executives with companies, but maryland's office

carl, that's because coal is so much a railroad is coal, union pacific the winner, csx, not, norfolk southernot. >> i don't know if they're on the other side of the floor yet or not. >> we're keeping conversation when it comes to greece. the key component is we don't know what the alleged deal is at all. >> the statement is we've reached a deal. what exactly is the deal? i'll believe this deal when i see names on paper of the party leaders and the list of what exactly they have agreed to. now, remember, supposedly they've talked about cuts to the minimum wage and job cuts and this whole search to find $300 million additional in savings. it's very slippery. and the euro, the greek leaders have in the last few days said things like we want an agreement on exact dates and presidential election. and little things that can be thrown in here. they can't get too cute or detroit is going to say uh-uh. but there's a lot of room for slipperiness. let's just see what the paper actually says right now. did you see 21% unemployment in greece? 21%, half of all greece youth are unemployed. the social fabric

shift to freeport scx, shift to alcoa, maybe you can see some money coming into gm ford for norfolk southern. u.p.s. had a good number. these are important tells for me including caterpillar which has been stalled since it blew out the number. >> speaking of caterpillar, this jobs report really does make it seem like qe3 will be put on the back burner for now. it's interesting to think back to what the caterpillar ceo said during the earnings release. that is he is worried about central banks around the world getting a little bit too ahead of themselves when it comes to positive economic data points and raising rates too soon. >> although as santelli pointed out in the last half hour markets are now pricing at a hundred percent chance of a fed hike by the end of 2013 which is earlier than the fed says their window will last. >> what would bernanke have sounded like today instead of yesterday, right, if we had this news out there? would we have gotten the same testimony? >> no, no. >> the same language around the possibility of qe 3? >> no. i think what would happen is he would have to say, y

norfolk. might even clip southern state st. mary's county. pretty good for much of the week. except for the warmth we'll have that increased shower chance. today 50 degrees, tonight in the 20s and 30s with lighter winds. 50 to 55 tuesday, 55 to 60 on wednesday. 60s believe it or not thursday and friday. what happened to winter? we have got temperatures in the 60s with a couple of showers possible. colder, not possible saturday and sunday. monika samtani is in it. you have some piece of paper. what is going on now? >> i want to remind everyone most schools are off president's day in culpepper. you have to go to school today. just a heads up for that. otherwise if you are heading for work this morning like we have to go to work this morning. you are not going to find any big problems. at least that is good news for you. no problems on i-70 or 2790. where the lanes divide, you are going to be fine. i just want to remind you that normally those roads that are one way traffic during the rush hour including on ca nail nail road. just a heads up for the president's day holiday. no h

norfolk, 80 degrees. a good chance of severe thunderstorms in eastern carolina, even southern maryland. you could get in on a few severe thunderstorms later on today. that warm air and the warm front is where it is at. light showers along the ied corridor. moving towards -- light showers along the i-80 cured door. -- corridor. there is actually a tornado watch down in southwestern virginia. there is that warm friend situated south of washington. the warm, humid air. human relative to late february. we're going to focus on the cold front that is going to hit later into the evening. it is going to slide from the west to the east through washington. probably around sunset threw the district. behind it will be the much cooler air and not only that but the wind picking up later on today. that is why we have the wind advisory and warning in effect for parts of our area indicating wind gusts from 50 to 60 miles per hour. if you have not secured the loose objects outside, now would be a good time because it will be gusty. through the night. very windy through the night. west winds at 15 to 25 b

norfolk and south of richmond. across the east coast not much happening. you can make out our southernet stream bridge if you look at the cloud cover carefully and look at the motion. that's our high speed river of air above that divides the boundary between the coolest and warmest air. cool air flushing in south around high pressure offshore. a weak disturbance off north carolina that looks to produce no precipitation. you can see the contrast based on where the jet stream is at over memphis and nashville and charlotte. south of that we are 60s. montgomery and atlanta. 74 charleston. none of that for us. we are locked in the cool part of the pattern. that will hold up. tomorrow we may get to 50. not as warm as our friends to the south. how about the coming trend? nothing be sunshine tomorrow. don't forget sunglasses as you head out the door. same thing as we go into tuesday. maybe a few passing clouds. we have a coastal system we'll keep an eye on. track takes it offshore. as we go deeper in the week we could see another system come up at out the south. tracking moisture off texas and

southern life. but wells knew about his expressions of unionism when he moved from norfolk to new york. and wells was willing to gamble on his loyalty as well as his ability. rarely in the history of naval warfare has a gamble paid off so handsomely. he began building up his fleet for his first objective, to capture new orleans. the confederacy's leading port and largest city and the gateway to the artery that carried much of the south's life blood, the mississippi river. after considerable effort he got his fleet of 21 steam sloops and gun boats across the bar, his southwest pass of the mississippi where it emptyiniie into the gulf of mexico in march, 1862. they were supported by 20 schooners modified and strengthened to carry a mortar to fire at two forts flanking the mississippi, forts jackson and st. phillipe. tonight these forts mounted 126 big sea coast guns, most of them bearing on the river to try to blow out of the water any fleet attempting to come up the river. in addition the confederates have put together a fleet of eight gun boats from river steam boats, one small iron cla

southern maryland you may get into some strong storms too. isolated tornadoes. rich mondays and norfolk, we're going to have to watch this very carefully. as far as the forecast is concerned on the next seven days, we'll start with the three day for you. we've got temperatures in the upper 60s today. severe weather alert day for the winds. potentially damaging winds this afternoon and this evening. we'll be in the 30s to around 40 tonight. 48 tomorrow with maybe a passing flurry, still windy. gusts over 30. sundays cool, not bad. 49 with a lot less wind and then we're back @ 60s -- in the 60s by tuesday. we've got more on 9news now at noon coming up right after this. >>> i can't tell you how honored i am to be with our special guest today. he is a member of the famous tuskegee airmen of world war ii and of course we know what they did for our country during that war. we know what they did for pilots and we certainly know what they did for african- american men. i would just like to say thank you. thank you, thank you. please, please meet colonel bob friend. who is here and you're one of