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I'm with you, Tom . . . it's not good, and not just for those Employees directly affected.

This might be bad for the entire railroad industry.  Part of deregulation is that railroads have to serve customers fairly.  That was a big concern of shippers when the Staggers Act was passed.  A railroad as large as CSX becoming arbitrary with is shippers, its employees and the communities it serves can only cause things to go badly for the entire industry.

We can hope that, with Hunter Harrison no longer leading, that phase of this unpleasant chapter is past, and angers may be soothed by more positive treatment of shippers.  The employees  governed by union agreements have rights to being recalled, and perhaps their situation is not as bad as it first appeared.

Last edited by Number 90

Reading through a stock analyst’s report on CSX; looks like revenue is forecast to be down 3.9% and volume down 5%.  The only thing that is forecast to improve  is their OR and that is what excites the hedge fund boys these days.

With regard to further reductions in personnel and assets; a shrinking railroad with a smaller customer base logically needs fewer locomotives and people.

Jim Foote did mention in his comments to the analysts as well as in a presentation at a meeting I attended last week that he plans to use the reduced cost structure to go after new business including current truck business.  This is consistent with what happened at CN after Hunter left and with what is currently happening at CP.  

My jury is still out with regard to what will happen with CSX under Jim but; his comments concerning growth are something you would never have heard from Hunter Harrison.

Curt

This slide in particular caught my attention

• Expecting inflation to moderate • Forecast assumes Highway Diesel Fuel price remains steady at $3.00 through 2020 • Forecast does not include any impairments or other charges

Just an amateur stockholder so I could be wrong but those statements are probably going to bite them in the @$$ bigtime. 

Last edited by Farmer_Bill

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