CSX agrees to hire EHH as CEO

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CSX agrees to hire EHH as CEO

Unread postby atrainguy60 » Mon Mar 06, 2017 3:38 pm

It is confirmed:

https://www.bloomberg.com/news/articles ... son-as-ceo

https://www.wsj.com/articles/csx-agrees ... 1488829040

WSJ:
"Mr. Harrison plans to improve profits at CSX by cutting jobs and closing several rail yards, according to people familiar with his plans. As part of this strategy, Mr. Harrison aims to shift some of CSX’s operations away from Rust Belt states such as Michigan and Pennsylvania to more economically vibrant Southern states."

"Last week, CSX said several longtime executives in its operating division would retire and it would reorganize the network around fewer corridors in an effort to eliminate costly and time-consuming crew changes, according to an internal memo reviewed by The Wall Street Journal."
Last edited by atrainguy60 on Mon Mar 06, 2017 4:13 pm, edited 3 times in total.
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Re: CSX agrees to hire EHH as CEO

Unread postby ~Z~ » Mon Mar 06, 2017 4:02 pm

Per MQT1223:
CSX has agreed to hire Hunter Harrison per the Wall Street Journal.

According to the Journal, he plans to get out of rust belt states, with Michigan being one of them.

Can you copy that paragraph from the article over here? No subscription over here. Get out of the rust belt states eh?
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Re: CSX agrees to hire EHH as CEO

Unread postby atrainguy60 » Mon Mar 06, 2017 4:13 pm

~Z~ wrote:Per MQT1223:
CSX has agreed to hire Hunter Harrison per the Wall Street Journal.

According to the Journal, he plans to get out of rust belt states, with Michigan being one of them.

Can you copy that paragraph from the article over here? No subscription over here. Get out of the rust belt states eh?


Sure thing. Sounds like we could be seeing a bit more shortline action up here.
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Re: CSX agrees to hire EHH as CEO

Unread postby barnstormer » Mon Mar 06, 2017 7:13 pm

atrainguy60 wrote:
~Z~ wrote:Per MQT1223:
CSX has agreed to hire Hunter Harrison per the Wall Street Journal.

According to the Journal, he plans to get out of rust belt states, with Michigan being one of them.

Can you copy that paragraph from the article over here? No subscription over here. Get out of the rust belt states eh?


Sure thing. Sounds like we could be seeing a bit more short-line action up here.


OR.....with CP Rail not having their own line from Detroit to Chicago, you could see an arrangement whereby CSX sells the PM
to CP, or renew a contract for a haulage agreement once again. Who knows what may take place, but with CP needing their own
route between those two points, anything could happen! It would allow them to run trains more on their terms, and not the NS'.

-barny
Last edited by barnstormer on Mon Mar 06, 2017 10:40 pm, edited 1 time in total.
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Re: CSX agrees to hire EHH as CEO

Unread postby tadman » Mon Mar 06, 2017 9:26 pm

I don't understand the "get out of the rustbelt states" thing. He was known for being the only guy in railroading to buy back the shortlines that had been spun off decades before. This is the guy that bought B&LE, the paragon of rustbelt railroading. This is the guy that bought back Chicago Central, as well as the rinky-dink Quebec shortlines running with worn out MLW power. This is the guy that kept D&H after it had been unofficially on the block since a few weeks after CP bought it.

Now he wants to get out of rustbelt railroading?

Fine by me, would much rather see a reborn Pere Marquette.
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Re: CSX agrees to hire EHH as CEO

Unread postby barnstormer » Mon Mar 06, 2017 10:43 pm

tadman wrote:I don't understand the "get out of the rustbelt states" thing. He was known for being the only guy in railroading to buy back the shortlines that had been spun off decades before. This is the guy that bought B&LE, the paragon of rustbelt railroading. This is the guy that bought back Chicago Central, as well as the rinky-dink Quebec shortlines running with worn out MLW power. This is the guy that kept D&H after it had been unofficially on the block since a few weeks after CP bought it.

Now he wants to get out of rustbelt railroading?

Fine by me, would much rather see a reborn Pere Marquette.


Not likely, though they may want it...too much traffic to be had if they (CSX, under EHH) gets salespeople out there...

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Re: CSX agrees to hire EHH as CEO

Unread postby chapmaja » Mon Mar 06, 2017 11:20 pm

In other words, he is planning on leasing the trackage west of Plymouth and north of Plymouth, allowing a shortline/regional to build up a traffic base on said lines then he will pull the lease for these lines once a bigger traffic base has been developed.

It makes sense in some ways. I see no way that the tracks around Detroit will be eliminated, but the outstate tracks I could see being dumped.

Under the current plan, CSX runs 1 Flint-Toledo train, and one Grand Rapids - Toledo train, plus 1 Grand Rapids - Chicago train correct? The rest of the line's traffic is coal, grain, and occasional fertilizer unit trains right.
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Re: CSX agrees to hire EHH as CEO

Unread postby atrainguy60 » Mon Mar 06, 2017 11:36 pm

chapmaja wrote:Under the current plan, CSX runs 1 Flint-Toledo train, and one Grand Rapids - Toledo train, plus 1 Grand Rapids - Chicago train correct? The rest of the line's traffic is coal, grain, and occasional fertilizer unit trains right.


The Grand Rapids - Toledo trains (Q334, Q335) no longer run. All regular carload traffic is handled on some now massive locals, who hand over the cars to some mixed freights in Plymouth. Other than that, you got it right. Q326/Q327 between Chicago and GR, Q321/Q322 between Flint and Toledo, and Q392/Q399 between Detroit and Toledo.
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Re: CSX agrees to hire EHH as CEO

Unread postby bctrainfan » Tue Mar 07, 2017 3:06 am

Hopefully this all works out in a good way for our friends working for CSX!

It does renew a lot of speculations that have been out there for long time, and maybe some new ones. Does CSX sell off the line or just lease the rights? So, who wants it.... CP, Watco, or G&W? There may be real interest either way from all of them for various reasons. It would seem that one of the shortlines might be in position to build some new business and/or recover some old with more aggressive salesmanship and a commitment to better service. Also makes for some interesting connections between the shortlines, particularly for G&W. Maybe CSX reassesses the whole thing, sees the potential, and keeps it all to themselves after all. Lots of possibilities!
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Re: CSX agrees to hire EHH as CEO

Unread postby Raildudes dad » Tue Mar 07, 2017 9:25 am

I wouldn't count on more marketing people from the shortlines. It's been my observation that the shortlines don't do much better, there being one exception to that generalization.
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Re: CSX agrees to hire EHH as CEO

Unread postby penn central » Tue Mar 07, 2017 10:00 am

It's got me thinking if the Grand Rapids area is sold to short lines i wonder if the Brinks Transload north of Ann Street will start shipping more again.
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Re: CSX agrees to hire EHH as CEO

Unread postby Doktor No » Tue Mar 07, 2017 10:31 am

And and and what color will they paint the engines????
Good grief give it a rest. No plans out there yet. Wait and see what happens.
Best case scenario would be CP but that is pure speculation, as is the rest. Sand House talk if you will.
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Re: CSX agrees to hire EHH as CEO

Unread postby penn central » Tue Mar 07, 2017 10:37 am

I guess i should've bought shares of CSX when they where lower. Id be reaping the rewards now.
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Re: CSX agrees to hire EHH as CEO

Unread postby redside20 » Tue Mar 07, 2017 11:01 am

Most of the upper management from the Chessie and Seaboard days have had it so good for so long. The cuts at the top had to happen sometime.
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Re: CSX agrees to hire EHH as CEO

Unread postby Saturnalia » Tue Mar 07, 2017 12:25 pm

EHH is a corporate pruner. All plants need pruning from time to time. The pruner will cut off too much in places, and the product may look ugly. But once the pruner leaves, the plant has the room to grow without all of the garbage.

Look at CN and CP. They have their corporate quirks, sure, but CN was transformed into an industry leader and CP taking from a wreck to a slick machine. Looking forward to what CP can accomplish now that the pruning is done!
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Re: CSX agrees to hire EHH as CEO

Unread postby MMRR-24 » Tue Mar 07, 2017 8:44 pm

Long as stock keeps going up I'll be happy
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Re: CSX agrees to hire EHH as CEO

Unread postby ~Z~ » Fri Apr 21, 2017 1:57 pm

Here's a transcript from the Q1 2017 CSX Corp Earnings call for the changes EHH and crew are making. Pretty lengthily but interesting read: http://finance.yahoo.com/news/edited-transcript-csx-earnings-conference-120549205.html
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Re: CSX agrees to hire EHH as CEO

Unread postby hoborich » Fri Apr 21, 2017 7:44 pm

CSX up another $1.21 today. It seemed to falling back a little a couple weeks ago.
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