Is it true that the CSXT is going under?
Are they filing bankruptcy?
What will happen to the RR?
Who will take it over if it does happen?
Just what is going on with the CSXT?
They should have never merged with Conrail.
Some cold, hard facts (or at least rumors in print) would be useful… I just did a quick search on “CSX +bankrupt” and on CSX at the Wall Street Journal and found nothing conclusive.
Not true but CSX isn’t in the best of shape, NS and CSX overpaid for Conrail and its hurt both.
Yes Csx is hurting.they try to make quick fixes when some parts need major repairs.
stay safe
Joe
Sounds like Mike needs to look a closer at the Six-Sigma conclusions, gets the accountants busy on market yield, get the salespeople busy on high value selling, get some good industrial engineers busy studieing the systems, routing, geogaphical logic opposed to economic benefit , open up the system to higher capasity, Hire some good public relations folks, hire experienced customer service folks, and and get the needed capital to get it all done. But in all of this please DROP THE ROMANCE EVERYBODY; management, labor, railfans,railroaders, bankers, lawyers and investors. Railroads don’t run to well on it (Romance that is). [2c]
It sounds like CSX needs to use more vision and be more ambitious but won’t work if you **** off your existing customers as well as future customers. If they have a bad reputation than it should be one of Michael Ward’s prime objectives to repair it. They need to expand their venture since they can because the demand is their; they need to restore faith and pride with the employees; they will have to start worring about capacity expansion and doing something constructive about it.
I have taken a look at their shares and find that for a railroad that big that must have a gigantic profit margin, their prices are low. I would suspect that the shareholder in particular is annoyed with CSX management hence the bad mouthing from the Wall Street Journal. They will have to do something about that or the board of directors is going to start playing the blame-game and fire Michael Ward.
I don’t believe CSX will go under because they are to vital to the eastern half of the U.S. I believe before anything bad like that was to happen, the federal government would get involved. None the less, my favourite railroad must take thease problems to heart and improve themselves with their shareholder, employees and more importantly the customers before the crap trully hits the fan.
I highly doubt that the CSX is going under any time soon.
Long live the Chessie Seaboard Transportation Company CSX or what ever it stands for.
A pleasure to be in the forum with you sir
NO.
LC
The CSXT posted a news release (8/24/04) that it was doing some financal realginment in reguards to CR assets. This just looks like normal busness action and seems to be some debt restructering.
BTW CSXT stock gained $.28 a share today.
This is not a sign of a company going bust.
I sometimes wonder where some rumors get started.
Once again Brother Hemphill shows his skills as the master of elloquence in the forum. If ever there is tobe a last word in these matters, His would be truly the most worthwhile[^][8D][:)][bow][bow][bow][bow][:)][8D][^]
CSXT Can Someone Xplain This?
Mark-
“Thank you for your support”
-slogan for Bartles & James
LC
Can some one explain the Privacy report Eyeball down below?
CSX and the railroads in gerneral are being victimized by the Wall Street view of railroads as a declining industry, that despite 40 years of plant rationalization, is viewed by Wall Steet has having massive excess capacity when the truth is that all railroads are operating at or near their physical capacity and the upturn in car and trailer loading over the past year to 18 months have placed the Class I’s (at least those that have been using UP thinking as their yard stick - this includes CSX) in the position of having more business than they have facilities or manpower to handle.
The Plant rationalizations that the Class I’s have undertaken in the past 15 years have caused facilities that were closed to have all their rail and other infrastructure removed in the expectation that the facilities would NEVER be needed again…Now the facilities are needed and they aren’t there. In the 60’s and 70’s when facilities were closed…they locked the Yard Office door and let the facility Rust In Peace…but it was still there and could be reactivated if and when needed with a minimum of investment.
Prosperity is enemy of todays railroad industry as the leaders that have only known cutting routes, facilities and manpower all their professional lives are now faced with a new challange…Increaing business that exceeds the capability of thier operations to handle it in their present form.
Railroads of the US are truly at a difficult crossroad and the wrong decisions will cause results that will be difficult, if not impossible, to recover from.
CSX going under? I do not think so. Their performance on the stock market does not indicate it. Yes, they have the poorest operating ratio of 7 class 1s. That can change in a wink of the eye. Look at CN. While under the wing of the Canadian government they had the worst ratio going. When they privitized they quickly rose to the top of the pile in a very short time. Who knows, maybe CSX will be on top in 3-5 years.
Yes but CN in those days could get away with it because if the shares didn’t do so well, the government would sell the shares and risk bankrupting the railroad after they spent the money and effort to bail it out after the hap hazards of GTW under Hayes.