Well it happened again. CSX borrowed more money from UP to pay for part of its payroll again. At leasr that is what the trainmaster said. One of the stipulations was the latest round of management cuts that CSX did. Kinda makes you wonder why CSX is being restructured like UP.
To tell ya the truth I dont care who pays the check as long as it dont bounce I’m happy.
I do hope the retrenching does some good because I love being a engineer, I just hate who I do it for.
Just wonder how the trainmaster knows so much about upper level CSX finances?
Does the Chief Financial Officer give him daily reports?
What they couldnt give UP some superbowl tickets?
stay safe
Joe
I’m at the bottom of the CSX grapvine and I still hear my share of rumors. Quite a few have come true. As for UP gobbling up CSX, I doubt it. I think all the latest megers have made quite a mess, it’s why CSX can’t pay its bills now. If anything I see a reverse trend in railroading where the little guys bite off chunks of the big boys. As mentioned in here already, Shortlines and regionals have been taking over decent size chunks of CSX and others. In Danville, V V R is taking over the old Conrail line that runs from Westville over into Indiana. Just my perspective on things.[oX)]
Corporations lend to and/or borrow from other firms all the time. It’s called “commercial paper”.
It’s got to do with “cash flow” and is different than profitability.
KS
slowly working the way to a UP CSX merger…as much as you all dont think it will happen…
csx engineer
They will have to give UP Superbowl Tickets
DOGGY
Yes, a normal and quite frequent occurance…short term notes…
But …I think CSX is right … this is still headed our way in one form or another…maybe not this year, but soon.
It’s in UPs best interest to keep CSX as healthy as possible…I would venture to say its probably in the interest of any of the Class 1s to keep the group healthy until the last two mega- mergers occur.
I suspect, if you get involved with deep level forensic accounting…you will find that most of the Regionals and Short Lines are a financial front for the Class I’s. The shell game to break the unions.
being aruond the railroads for about 40 years and that the yellow gold paint on the nose of csx engines i feel some thing is going to happen between csx-up
So THAT’S what’s in my money market fund!!! [8] [:)]
-Mark
zactly…
CSX = moochers!!! [:D]
More rumors again. I don’t buy any of these borrowing rumors without a whole lot more than the say so of a local trainmaster who isn’t in a position to know…
LC
Shareholder meeting 5 May.
I just sent my proxy in today…
I went pro labor on this one
Dan, For everyhting Holy and living and good, please don’t Tell me YOU own Stock in CSX
We have all of UP’s engines in Nashville at Kayne Avenue yard seems like. I have seen the olympic torch and united way engines too.
George