I notice the same problem with the cops. I notice it could be the switcher but other sources said, “Cracked wheel”.
Yes, CSX seems to be in the news a lot for derailments, but maybe they are just easier to pick up on since they do seem to be noted for it. I am sure they would just as soon not have to deal with them, at least anytime there is a derailment it gives you an excuse to fix the track.[:-^]
They get so bend out of shape.[dinner]
Could it be that CSX having a very large presence in the most heavly populated part of the country (The Northeast) That their derailments make the news more that other carriers in the Desert and Midwest??
to be more specific the derailment was in maryland or delware according to the update we recieved
It dont matter if csx derailed or not. its on old conrail line and every one knows how bad that is, they had such a history of derailments they are out of buisness, and good thing they was about to break us tax payers. Im sure glad conrail is gone now if we could just git rid of thier junk engines
Check your history!!!
By 1981 Conrail began its financial turnaround. After June 1981, Conrail would no longer require federal investment, and finished the year with the first profit in its history.
With Conrail continuing to succeed in providing high quality service for its freight customers and improving its financial outlook, the federal government sold its ownership interest in Conrail through what at the time was the largest initial public stock offering in the nation’s history. This March 26, 1987 transaction, with added cash payments from Conrail to the U.S. Treasury, produced about $1.9 billion for the taxpayers and returned the Northeast-Midwest rail freight system to the private sector as a for-profit corporation, as Congress had envisioned when it created Conrail as Consolidated Rail Corporation
Courtesy Conrail Historical Society, Inc
just becouse you turn a profit donst mean you still have the money to make capital investments such as repair and upgrades…any biz that makes just one dollor after all its expences are payed still turned a profit but still isnt enought to invest in any kind of captial improvements… was MANY years after conrail went back to the privit sector insted of the government that any major impovements where made to the physical plant… and that was just on the money making main lines…i lived hear a branch line growing up that basicly rotted away while the main line that was near by was top notch…
csx engineer
I was kind of thinking along these lines too. you might just hear about them more.
Awesome: In checking the history…I don’t have the exact figure in front of me, but it cost the taxpayers approx. $5 billion to fix up a railroad, bring it to profitability, and sell it for approx. $2billion. At that point it was turning a profit, but still needed the constant upkeep and improvement of infrastructure that all railroads need.
Murphy:
At the end of the Conrail years the Goverment made back the money they invested. I don’t the know the exact amount.
Awesome: Actually, no. There was a very long thread on here a couple of years ago, about that very same issue. It turns out, Uncle Sam spent something like $3 billion more than it recovered. So no, the Government didn’t make back the money it had invested. Rather, it made a big outlay to keep the American railroad system from going over the edge. In a way, you could call that a (neccesary) investment, but not one that was paid back by ConRail’s sale.
I’ll try to find the old thread, as it was very interesting.
Note: I keep trying to use the quote function the way I always have, and it’s not working for me. I hit quote on the other person’s post. Then I go to the very bottom, and hit enter to type below it. I am below the other poster’s {/quote] tags. Yet I still get a non-matching quote blocks in post warning. Can anybody point out what I may be doing wrong? Thanks
You will get the ‘non-matching quote’ error from Awsome who uses an exclamation mark as the final character of his User ID…the quote function doesn’t like seeing such special characters in the User ID and gives up the error…there are others that have other special characters in their User ID that will return the same error…just remove the special character and the quote will result in a published addition to the thread.
Test. Thanks BaltACD. I had just assumed it was because I’m a dumby![D)]
I think I found the link to the thread I mentioned: http://cs.trains.com/forums/1/820484/ShowPost.aspx#820484
I want to make sure our readers on the forum read the topic we are discussing. I copy and paste from one our members (Poppa_Zit) he said, “Oops, I got my wires crossed in sale details. The G sold Conrail in 1987 to private investors, who in turn later sold it to NS and CSX. But the original premise that is was profitable for US taxpayers is accurate.”
In 1987, the Department of Transportation sold Conrail through a public offering, which resulted in NET proceeds to the government of $1.575 billion. The government’s goals for privatizing Conrail included providing for the long-term viability and continuation of rail service in the Northeast and Midwest, protecting the public interest in a sound rail transportation system, and, to the extent not inconsistent with these purposes, securing the maximum proceeds possible from the sale. The government met its primary goals for the sale of Conrail, in that it ensured the continuation of viable rail service, but only after spending about $8 billion creating, subsidizing, and preparing Conrail for sale.
Conrail was created in 1976 as a for-profit government c
[quote user=“Awesome”]
I want to make sure our readers on the forum read the topic we are discussing. I copy and paste from one our members (Poppa_Zit) he said, “Oops, I got my wires crossed in sale details. The G sold Conrail in 1987 to private investors, who in turn later sold it to NS and CSX. But the original premise that is was profitable for US taxpayers is accurate.”
In 1987, the Department of Transportation sold Conrail through a public offering, which resulted in NET proceeds to the government of $1.575 billion. The government’s goals for privatizing Conrail included providing for the long-term viability and continuation of rail service in the Northeast and Midwest, protecting the public interest in a sound rail transportation system, and, to the extent not inconsistent with these purposes, securing the maximum proceeds possible from the sale. The government met its primary goals for the sale of Conrail, in that it ensured the continuation of viable rail service, but only after spending about $8 billion creating, subsidizing, and preparing Conrail for sale.
Conra
this is interesting. i believe conrail was a good investment when you figure in the jobs that were saved and the benefits to the shippers that didnt lose rail service. i just wish they would not have abandoned so much of the erie lackawanna.
At least you see the whole picture but my friend only concetrate only one set of numbers. He doesn’t see the economy impact it created for the Northeastern section with the Jobs that in return would pay the govermant taxes and for the shipment of revenue as well. Overall, it was good call on the goverment to step in and save the six railroads from going down under. I think CSX should learn from this scenario. [8D] I hope that did not offended anyone.
csx has been turning record profits not drowning in red ink…so what should csx learn?
csx engineer