And the place just explodes with enthusiasm. Price appreciation? Nope. The only price appreciation was when the merger rumors were running rampant a year ago. Note that it has fallen back to pre merger prices, AND WILL STAY THERE for the foreseable future. Nothing, and I mean nothing is moving this world of railroading EXCEPT merger talk.
If that makes you happy go for it. Be happy don't worry.
The Republicans have not had a chance to vote on many issues. The little dictator passes edicts and the courts shoot him down for exceeding his authority.
Sounds like the best description of the current sad story for CSX.Dont forget the shop managers and foremen they hire that are total ignorance but paid well.
THE PRICE OF NATURAL GAS TOSSED THE COAL BUSINESS OUT THE WINDOW...BASIC ECONOMICS 101!!! What part of that is so hard to understand? Cleaner, easier to transport...as in you don't need crews, locos, yards and cars and a coal pile...just a pipe and an off and on valve.
Good god, anyone promoting coal is no better then a carnival barker at a toss the hoops game. Ain't coming back like it was EVER. You have to adapt your railroad along those lines and the old managers are still stuck in their old ways, dreaming about moving that yard full of coal cars again. Issuing nice press releases about a shuffle of managers isn't changing anything. Hiring intermodal professionals would. THATS the future, like it or not.
....BTW, as of last week, your vaunted management is still spewing the garbage that coal will be down only 25% for the year.
Pretty neat trick, since its down 32% YTD.
We're now 5 months in.
So they're saying they expect in the next 7 months, it will have to rebound to down just under 20% down for the rest of the year. Even though Q2 is already down MORE than Q1 (minus 34% vs. minus 31%.)
Let me spell it out for the slow: Coal's getting worse, not better.
CSX management is either lying, or utterly incompetent.
"Eastern US Coal Lugger" is a business role that has gone the way of the Do Do bird and the buggy whip maker. Coal is dead. And CSX and NSC are both very endangered species.
CSX reported last week that coal volume is down 34% quarter to date. Yesterday, NSC reported it down 31%. Ding ding ding? Get it?!
It would have been a good idea to have recognized this eventuality much earlier, and focused on growing merchandise intermodal when there was plenty of freight that needed moving....that is, anytime from 2010 to 2015. But that ship has sailed....and ships are no longer sailing.
The need for operational transition to higher value goods, through MUCH more responsive, reliable service levels, is now urgent. It has to be done yesterday, and by someone who knows how to do it.
You were handed that scenario in your lap....with both a payday AND continued participation to boot...and your selfish management screwed you over.
This is too important to be left in the hands of the stupid.
We'll never know what could have been under Obama. The obstructionist Republicans stated from Day One they would vote against anything & everything. Just think if Congress had actually done it's job working with the president. I'm not an Obama fan but I give him credit for his accomplishments under extreme adverse conditions.
25% of the business with coal was tossed out the window by the EPA in a short span. It takes time to restructure after a heavy hit. Harrison & the CP wasn't the answer. The CP has it's own problems.
you're not very bright are you? can't put it together that this vietnam thing is geo-politically motivated due to china's destabilizing actions in the s. china sea?
Hey. we're all greedy. That's why there's laws and authorities.
Apathetic and/or stupid shareholders are why corporate America is the last, best place for incompetents and crooks.
good point. ward is like a figurehead protecting his own kiddy. all he wants is the $ for his self. surprised the institutions are not screaming. CSX is a goldmine if it was run properly. those behind ward must be genetically tied to him somehow. the man has no integrity and is just greedy.
They blew it? Really?!
They all still have jobs, so for complete incompetents, I think they did great.
Shareholders? Hey, sheep get sheared. That's why they're sheep.
Let's hear what he says later today. And then to whatever his minions write for him as clarification for how he misspoke earlier.