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Thankful there wasn't more damage to NS. At least not yet.
I agree with article's premise. NH Joe
As suspected, suck all the cash out of the company then cut everything to the bone. Leave a shell behind.
Ditto, you leave 6 months early and then expect your new firm to pay you for what you left behind, if I am a shareholder I would vote NOT to pay regardless of CSX stock price. But then again, the little guys don't own enough to make a difference, hedge funds do an they put him in the CEO spot so the hedge fund should pick up the tab, not CSX.
Kind of like blackmail. Is this guy really worth the price?
Tinplate Art posted:Kind of like blackmail. Is this guy really worth the price?
Three answers:
1. No.
2. Hades no.
3. Hell no.
The compensation package is absurd.
It's beyond crazy...
E.H.H. = "Everyone Hates Hunter" 
Should I sell my CSX stock? Last April bought at $26 a share, now around $48.
I was in a couple of companies where I had a severance package when they were shutting down offices I worked. If I took a job somewhere else in that time, I forfeited that money. If I had the stones to ask my new job to foot that money, I'd be laughed at, as I'm sure anyone would be.
Harrison's "precision railroading"=lots of employees fired, hundreds of miles of track abandoned and tons of locos and cars left to rot on sidings. It's a new era Beeching Axe.
I thought these kind of executives, that go from company to company, draining their workforce in the name of "efficiency", died off.
So he'll save someone else money while he takes it all in "salary" and "compensation" before moving on to the next railroad. No thank you.
W&W posted:Should I sell my CSX stock? Last April bought at $26 a share, now around $48.
My first instinct is to sell, send a message to CSX that you don't like this.
Eddie Marra posted:W&W posted:Should I sell my CSX stock? Last April bought at $26 a share, now around $48.
My first instinct is to sell, send a message to CSX that you don't like this.
Wouldn't such action depend on how many shares you own? Selling 100 or so shares wouldn't send any "message" at all, but maybe if one owned 50,000 or 500,000 shares, selling off THAT much stock would be noticed, maybe.
Maybe it would be better for CSX to break itself up, and other roads pick up the parts. I can see Pan Am and FEC picking up parts.
Best message to send HH and his buddies would be for the employees shut it down until the courts make them go back to work. That would send a shock wave. the workers are the ones who will pay the price. Sad.
Jim:
With all due respect; this is a very bad idea. Your suggestion would harm thousands of other jobs at industries that rely on CSX for transportation. And, since railroading is a network business, the negative impact would be felt by shippers and receivers who aren't even served by CSX.
Curt
It sure would open some eyes. Pain now or later.
Harrison's real boss is the hedge fund guy who brought him on board. Just like his mentor, Ackerman, he will be selling all his shares in 3 to 5 years. The long term health of CSX is of no real concern to that guy.
Nathan
According to Trains magazine, the hedge fund only has about a 5% ownership in CSX. Their take is that the hedge fund is trying to set the stage for a proxy war.
Although the stock price has gone up, some terms that Harrison wants met are just unreasonable and unless there is some really good lobbying, I can't see other shareholders going for them.
Another article in the Wall Street Journal today about Harrison and CSX. I am a bit confused. I respect that newspaper but they keep printing articles that are obviously written by Harrison's PR guy. No real reporter would write in such an enthusiastic tone with only positive information.
Nathan
W&W posted:Should I sell my CSX stock? Last April bought at $26 a share, now around $48.
Fellas, this is what it's all about - increasing stakeholder value - the low hanging fruit to cutting overhead/costs is always the payroll and benefits. Railroading has always been about "precision" to survive and make money. It's just a new name for an old story.
it's not personal - it's just business
Craig - the answer to your question is another question - where would you put the assets from the sale that would earn ~2% dividend ? Hold it.
But if one puts out a product or service hardly anybody wants or uses you are not worth anything to anybody including stockholders.
The CSX is going to be used in another RR acquisition move by HH after the stock value has gone up as far as they can get it. Enjoy.
Grampstrains posted:W&W posted:Should I sell my CSX stock? Last April bought at $26 a share, now around $48.
Do what feels good for you. I'm keeping mine. It's up three dollars today and dividends have been increased by 11%.
I'm keeping my stock also.
