(Recasts, adds details on CSX cuts to jobs, rolling stock, paragraphs 10-11) March 1 (Reuters) - U.S. railroad operator CSX Corp said on Thursday at its first investor day since the death of former Chief Executive Hunter Harrison that more cuts to jobs, rail cars and locomotives were key to its three-year plan for boosting…
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(Recasts first sentence, updates share price) March 1 (Reuters) - U.S. railroad operator CSX Corp said on Thursday it would stick with a plan started by former Chief Executive Hunter Harrison, who died in December, to boost profit through cutting jobs and rail cars. Harrison, an investor favorite for leading turnarounds of Canada's two major…
(Recasts with CEO's comments, adds details on capital spending) March 1 (Reuters) - U.S. railroad operator CSX Corp said on Thursday it would stick with a plan started by former Chief Executive Hunter Harrison, who died in December, to boost profit through cutting jobs and rail cars, and will also slash capital spending. Harrison, an…
A 25 percent steel tariff means the price of steel will rise. CSX railways will pass along that price to its customers, says CEO Jim Foote. "Over time that cost, like everything, gets passed on," he says. A bigger concern for the company, he says, is the future of NAFTA. show chapters CSX CEO: Tariffs…
(Adds investor comment) March 1 (Reuters) - U.S. railroad operator CSX Corp said on Thursday it would stick with a plan started by former Chief Executive Hunter Harrison, who died in December, to boost profit through cutting jobs and rail cars, and would also slash capital spending. Harrison, an investor favorite for leading turnarounds of…
As many as two-thirds of the 29 U.S. commuter railroads may not meet a deadline to install an anti-crash technology by the end of the year. In 2008, Congress required that PTC be implemented across the country by the end of 2015. It then extended the deadline to the end of 2018. The GAO report…
-report@ WASHINGTON, Feb 28 (Reuters) - As many as two-thirds of the 29 U.S. commuter railroads may not meet a deadline to install an anti-crash technology by the end of the year, according to a report by a government watchdog seen by Reuters. The report by the U.S. Government Accountability Office is expected to be…
WASHINGTON (AP) — President Donald Trump is putting the brakes on attempts to address dangerous safety problems from speeding tractor-trailers to sleepy railroad engineers as part of his quest to roll back regulations across the government, according to a review by The Associated Press of Transportation Department rule-making activities. A dozen transportation safety rules under…
transport costs@ SEATTLE/BOCA RATON, Fla., Feb 26 (Reuters) - The drive for cost cuts and higher margins at U.S. trucking and railroad operators is pinching their biggest customers, forcing the likes of General Mills Inc and Hormel Foods Corp to spend more on deliveries and consider raising their own prices as a way to pass…