Ruh Roh - Hunter at CSX

[mu26aeh]

Well, I guess I can cross chasing my railroading dreams at CSX off my list for the next 4 years.  Along with half their current workforce.  In other news, I might have some cash in my stock account, maybe time to buy some shares

[Bob Bufkin]

[Ed Kapuscinski]

Today shall forever be known as the day that NS's servers crashed due to the influx of resumes that say CSX at the top.

[ridinshotgun]

Not only that but I bet there are several orders of sandbags for various railroads that went out yesterday so they can fortify their positions.

[C855B]

I read a Bloomberg piece this morning asserting Harrison is holding out for CSX to replace the $84 million he forfeited by leaving CP early. Article also discussed CSX's dismal operating ratio, 80%, the worst of the majors, with CP the "best" (naturally), at 59%.

Of course most of us here know that the "59%" is only achievable in the short term, and, eventually, deferred maintenance and other shortcuts will come home to roost.

[Lenny53]

I read a Bloomberg piece this morning asserting Harrison is holding out for CSX to replace the $84 million he forfeited by leaving CP early. Article also discussed CSX's dismal operating ratio, 80%, the worst of the majors, with CP the "best" (naturally), at 59%.

Of course most of us here know that the "59%" is only achievable in the short term, and, eventually, deferred maintenance and other shortcuts will come home to roost.

CN survived Hunter and had a 53.3 per cent operating ratio Q3-2016.

[nscaler711]

Looks like the Boxcar is going to derail.
Now will there be a bunch of CSX nuts selling all their models and start modeling NS or even go to *shudder* Conrail? (ConFail)

[mu26aeh]

Stolen from a FB post:

" I hear that on a positive note if the merger happens the new logo will be CPX with a beaver in a boxcar. "

[Blazeman]

Boiled down from Fred Frailey's blog on the Trains site:

Hunter and his team recruited former CSX execs through third parties to get the inside angle on the operation and players. So when the bell rung, he had his plan ready.

Planned departures of ops people have been put on hold (1000 spots) in order to evaluate those personnel before they are allowed to leave. Those who were not directed to start cleaning out their desks will be evaluated as well. Then the ranks will be thinned. Those remaining will all be on short leashes.

Next is assessing value of owned properties. Those judged outside the core or under-performing will be put up for sale. Think Indiana RR, PAL (largest owner), NYSW (40%) and owned tracks. Include most right of way in Michigan, some in PA, and coal gathering lines in KY-WV to be up for sale or lease.

Train schedules will be revised. Trains run every day so power is balanced. Few extras. Too many cars? Leave some for the next train along that route, even if the cars only move a couple hundred miles. Too light a train? It runs regardless. Regulate car numbers in trains by adjusting rates up or down.

Unit trains are to be limited. Cars run on all trains. For a unit train to make the cut, dwell time at each end has to be minimal.

Those in mechanical and maintenance will be busy. Ops people need to look out and don't even bobble the ball.

His no-compete is for three years, his contract for four. Means in 2021 he could be reaching out again for a partner, making these the good old days for contemporary rail fans and modelers. 

[Albert in N]

Think about the track upgrades that would be possible with the money wasted on the compensation package offered to another corporate plunderer!

[Blazeman]

Shoe has dropped. Human casualties of this begin (layoffs)
http://www.ttnews.com/articles/basetemplate.aspx?storyid=45206&utm_source=logistics&utm_medium=newsletter&utm_campaign=newsletter

[davefoxx]

Shoe has dropped. Human casualties of this begin (layoffs)
http://www.ttnews.com/articles/basetemplate.aspx?storyid=45206&utm_source=logistics&utm_medium=newsletter&utm_campaign=newsletter

Did you read the last line of that article?  It's easy to see where Hunter Harrison's priorities lie.  What an a$$hole!   

DFF

[mu26aeh]

Did you read the last line of that article?  It's easy to see where Hunter Harrison's priorities lie.  What an a$$hole!   

DFF

Yep, but all the shareholders that will vote on that package are in line for great individual financial gain ( or so they think, if HH can pull off what he's done with previous companies, as related to Wall St) so I think everyone knows what the outcome of the vote will be 

[Blazeman]

Well, Q1 results in that will just get Wall Street's mouth watering. Customers be damned. Nothing mentioned about cars not moving. Memphis is jammed. And making enough money the board authorizes taking more profits to buy back stock.

http://www.progressiverailroading.com/csx_transportation/news/CSX-posts-Q2-revenue-profit-gains-as-restructuring-continues--52205?

[mu26aeh]

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