Stock price is still trading near a five year high. It's not a buy.
Kent in SD
CSX was having problems before EHH became involved. As pointed out above, when the proverbial "dust settles", they will recover.
A rather serious issue in play now is whether the CSX Board of Directors hid EHH's health condition from the stockholders. An investigation into this has begun. If the investigation reveals that the board withheld information, heads will roll in Jacksonville.
OGR Webmaster posted:A rather serious issue in play now is whether the CSX Board of Directors hid EHH's health condition from the stockholders. An investigation into this has begun. If the investigation reveals that the board withheld information, heads will roll in Jacksonville.
Rich, heads might roll also in that hedge fund group who brought Hunter in.
This whole thing was fishy from the git-go. The stockholders wanted it and they got the whole thing.
CSX is a solid company with good freight car load#’s. If there is some sort of scandal/issue what a great deal for a Warren Buffet or other Capital investment group to buy.
jim pastorius posted:This whole thing was fishy from the git-go. The stockholders wanted it and they got the whole thing.
Boy ain't that the truth, fishy only begins to describe this thing.
I was trying to be polite.
I have a feeling CSX shareholders are still happy with the decision to hire EHH. Since the news was announced on Jan 18th, CSX stock is up 49%, which is significantly better than Norfolk Southern (+31%) and Union Pacific (+30%).
johnf posted:I have a feeling CSX shareholders are still happy with the decision to hire EHH. Since the news was announced on Jan 18th, CSX stock is up 49%, which is significantly better than Norfolk Southern (+31%) and Union Pacific (+30%).
Yes I am!!!
johnf posted:I have a feeling CSX shareholders are still happy with the decision to hire EHH. Since the news was announced on Jan 18th, CSX stock is up 49%, which is significantly better than Norfolk Southern (+31%) and Union Pacific (+30%).
CSX stock jumped because of the "aura" surrounding the hiring of EHH and his track record of improving things at essentially linear railroads. However, his operating style was not well-suited to the spider web network of lines that is today's CSX. Their service has deteriorated badly and they've been called on the carpet for that at the NTSB more than once.
Now that EHH is gone, I would suggest you sell now and take your profit. I see the CSX situation getting a lot worse before it gets better.
Maybe this is the time for CSX to slim down to a core system, and sell off some lines to regionals. Or do a Conrail, and sell off the whole railroad in parts.
OGR Webmaster posted:CSX stock jumped because of the "aura" surrounding the hiring of EHH and his track record of improving things at essentially linear railroads. However, his operating style was not well-suited to the spider web network of lines that is today's CSX. Their service has deteriorated badly and they've been called on the carpet for that at the NTSB more than once.
Rich,
I agree 100% with your comments. My only point is that CSX shareholders probably don't care much about whether they were given all the facts about EHH's health. They were not harmed because the stock is still up significantly even after the news of Harrison's death.
