Just read on the WSJ page that E. Hunter Harrison took a medical leave of absence and the stock is way down and the corp. has lost $6 billion in value. And the board knew he was ill !! What a mess. I feel sorry for the employees.
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No problem-I saw that thread after I posted mine. I was surprised because there was nothing on the news about it. At least the limited news I watch-no TV. That said, they have kept EHH's health problems quiet. He and has cronies took a lot of $$ out of CSX and the bubble has partially burst. See how it goes down the road. When Foote came on board I read that he had no operating experience. I like CSX, I want to see it prosper.
Jim:
The reality on today's Class 1's is that few CEO's have any actual operating experience. Carl Ice at BNSF and Keith Creel at CP are kind of the exceptions these days. The fact Jim Foote didn't come up through the operating department isn't an automatic assurance of failure.
As I mention in the other thread; Jim is a very capable railroad manager. I had extensive interaction with him when he was with CN and in my opinion, at least, he is a straight shooter.
Assuming Hunter's health will not allow him to return; Jim might actually be in a position to start improving CSX's relationships with labor and customers.
Curt
When all this CSX stuff started I read a comment somewhere(a magazine?) the the Canadian RRs are much different than the US ones and these plans might not work. haven't read too much lately how CSX is doing except their car loadings are off 20%. Also read that CSX walked away from some low volume intermodal business and forced the industry to fen for themselves -trucks. People in business don't forget things like that. Long memories. I also really resent EHH dumping the US employees and bringing in Canadians.
Eighty-four million. No man is worth that money. Taken from the mouths of the children of railroad employees.
That is only part of it. CSX coughed $300 million to EHH and his investers. Not on the job a year and he is off sick. He was there long enough to do damage though. That is why he moved so fast.
Also the Canadian route system is not as complex as say, CSX. Even IC slimmed down before the rule of Hunter.
I still think Hunter's magic might have worked if CSX was slimmed down first.
I just read that Hunter Harrison died today.
TURTLE 2 posted:I just read that Hunter Harrison died today.
https://globenewswire.com/news...Hunter-Harrison.html
