Murphy SidingAs an outsider looking in, I wonder if the railroads' immediate plans are to replace two higher trained (and higher paid) people in the cab with one higher trained & paid and one lesser trained & paid? You'd still have those two sets of eyes in the cab. You'd still have somebody to walk the train. It would probably be easier to find someone for the position. Those that showed promise could still become engineers, they just wouldn't have to be forced to. You coul give the position a new name. Maybe fireman?
The railroads immediate plans - if they got their 'dreams' is one minimaly paid pair of eyes in the cab - training; who you trying to kid. And if they are forced into it, one minimally paid 'utility man' per thousand square miles.
Never too old to have a happy childhood!
I like how they have a truck full of tools on that video. Like most conductors are going to be changing out traction motors on the main.
The opinions expressed here represent my own and not those of my employer, any other railroad, company, or person.
zugmannI like how they have a truck full of tools on that video. Like most conductors are going to be changing out traction motors on the main.
The video was of a MofW group of employees - don't know what their railroad purpose was that had brought them to the location where they got stuck. There are myriad of railroad locations that are not routinely accessable by other than rail access. The 'flying utiltity man' is a figment of cost cutters brain damaged minds.
BaltACDThe video was of a MofW group of employees
I was referring to the road conductor video and his dod...err...RAM pickup.
Not Ron's video.
UP's Pecos River Bridge at Santa Rosa, NM is currently out.
https://www.up.com/customers/announcements/customernews/allcustomernews/CN2023-4.html
So there's no service west of the Pecos. Take your complaints to Judge Roy Bean.
The pilot plan was put on hold...for the time being.
https://digitaledition.chicagotribune.com/html5/mobile/production/default.aspx?edid=ecccb5b0-cfa5-498a-b1ce-ae1fa1ac21da
charlie hebdo The pilot plan was put on hold...for the time being. https://digitaledition.chicagotribune.com/html5/mobile/production/default.aspx?edid=ecccb5b0-cfa5-498a-b1ce-ae1fa1ac21da I couldn't get the article, but if it's about the "expediter" test - yes it's been tabled for now. I guess they have been trying something like that somewhere down on the southern portion of the railroad. The one who was telling me about it said they were tearing up too many trucks (probably tires) getting to the trains. Meanwhile, the UP wants to suspend temporarily the signal system out west on a small portion of mainline. Track conditions on short stretch of main line in Nevada prompt UP to seek permission to temporarily deactivate signals and CTC - Trains Jeff
I couldn't get the article, but if it's about the "expediter" test - yes it's been tabled for now. I guess they have been trying something like that somewhere down on the southern portion of the railroad. The one who was telling me about it said they were tearing up too many trucks (probably tires) getting to the trains.
Meanwhile, the UP wants to suspend temporarily the signal system out west on a small portion of mainline.
Track conditions on short stretch of main line in Nevada prompt UP to seek permission to temporarily deactivate signals and CTC - Trains
Jeff
jeffhergert charlie hebdo The pilot plan was put on hold...for the time being. https://digitaledition.chicagotribune.com/html5/mobile/production/default.aspx?edid=ecccb5b0-cfa5-498a-b1ce-ae1fa1ac21da I couldn't get the article, but if it's about the "expediter" test - yes it's been tabled for now. I guess they have been trying something like that somewhere down on the southern portion of the railroad. The one who was telling me about it said they were tearing up too many trucks (probably tires) getting to the trains. Meanwhile, the UP wants to suspend temporarily the signal system out west on a small portion of mainline. Track conditions on short stretch of main line in Nevada prompt UP to seek permission to temporarily deactivate signals and CTC - Trains Jeff
The 'bean counter' element that come up with such ideas have no idea what world the real world of railroad actually exists in, with probably 30% of the Class 1 properties being UNACCESSABLE except by rail.
The accountants would not have any input into the decision-making, their function is to ensure that the data used is accurate.
CSSHEGEWISCHThe accountants would not have any input into the decision-making, their function is to ensure that the data used is accurate.
There is a element of 'top level' operating management that considers themselves 'bean counters'. Real accountants need not apply even though they have no more understanding of real operations than do the 'bean counters' I have mentioned.
BaltACDThere is a element of 'top level' operating management that considers themselves 'bean counters'. Real accountants need not apply even though they have no more understanding of real operations than do the 'bean counters' I have mentioned.
Accountants count, simple as that.
I suspect a better moniker for the top level folks would be "financial analysts." They look at the numbers and try to figure out how to make them look better (ie, cutting services, etc).
Larry Resident Microferroequinologist (at least at my house) Everyone goes home; Safety begins with you My Opinion. Standard Disclaimers Apply. No Expiration Date Come ride the rails with me! There's one thing about humility - the moment you think you've got it, you've lost it...
tree68 BaltACD There is a element of 'top level' operating management that considers themselves 'bean counters'. Real accountants need not apply even though they have no more understanding of real operations than do the 'bean counters' I have mentioned. Accountants count, simple as that. I suspect a better moniker for the top level folks would be "financial analysts." They look at the numbers and try to figure out how to make them look better (ie, cutting services, etc).
BaltACD There is a element of 'top level' operating management that considers themselves 'bean counters'. Real accountants need not apply even though they have no more understanding of real operations than do the 'bean counters' I have mentioned.
They only know the numbers. Not what the numbers represent.
tree68I suspect a better moniker for the top level folks would be "financial analysts." They look at the numbers and try to figure out how to make them look better (ie, cutting services, etc).
With the obligatory MBA degree, a.k.a. MBAhole.
In public 'Wall Street' facing companies, their tools seem to be limited to cost cutting and stock buy-backs. Anything else would upset the generic outside 'analyst' and cause a stock price disruption.
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tree68 I suspect a better moniker for the top level folks would be "financial analysts."
I suspect a better moniker for the top level folks would be "financial analysts."
My take is that an accountants primary job is to produce an accurate report that accounts for where the money came and where it went out. Part of that role is to keep the folks who sign the checks honest. Sophisticated bookkeeping, bt a job that needs to be done.
A financial analyst would be more like an actuary in trying to get a better idea of where the profits and losses are coming from. FWIW, my daughter started college working on a degree in actuarial math and decided to switch to financial math after meeting a few actuarials. One application for financial analysis is trying to get an accurate number for the incremental costs in running a train - which is much easier said than done.
https://www.up.com/customers/announcements/customernews/allcustomernews/CN2023-5.html
Here is UP's list of embargoes:
https://www.up.com/customers/embargo/list/index.htm
and for reference here is AAR Circular TD-1, with its list of all the things an embargo can't be:
https://public.railinc.com/sites/default/files/documents/TD-1.pdf
Investor looking to boot Lance Fritz. Chasing 55 looks to be chasing Lance out the door..
https://www.trains.com/trn/news-reviews/news-wire/union-pacific-to-seek-new-ceo-after-hedge-fund-prods-board-of-directors/
Soroban’s presentation makes some compelling points.
Fred Frailey recognized this in his epic October 20, 2019 blog post “Whatever Happened To UP?”
It is true that underlying the volume growth performance of UP (and BNSF) that has been referenced by Soroban has been the continued precipitous decline in PRB coal loads and Colorado coal loads as more and more coal plants are retired each year. This was high-volume-low-operating-cost business that was a significant double-digit percentage of all UP loads not all that long ago.
But it is up to management to figure out how to make the transition to a low-coal-loads world, which necessitates figuring how to generate volume in other load categories of the railroad.
They kicked Vena out allegedly because he refused some westbound grain business. All because it would've required more people and equipment than his (and EHH's) vision of running a balanced system allows. Only have on hand enough people and equipment to run a set, predetermined amount of volume in each direction. Don't have any reserve for temporary upswings or new business. Nevermind that it would bring in revenue and more money in their pocket.
The rumors were that BlackRock was the single largest investor, that they had Vena brought in. After they sold some of their holdings and Vanguard became the top dog, they wanted to see more volume and revenue growth. That's when Vena was "allowed to walk away" by not renewing his contract.
I was hoping once Vena was out they would've actually tried to go after more business and increase volumes. They talked, and still talk, about needing growth, but mostly it's still cuts where ever they can. Any new business seems to be the "low hanging/easy to handle" type.
The kind of performance that Soroban Capital cares about is purely financial. Vena won't improve the railroad, except maybe by running off more customers.
jeffhergert They kicked Vena out allegedly because he refused some westbound grain business. All because it would've required more people and equipment than his (and EHH's) vision of running a balanced system allows. Only have on hand enough people and equipment to run a set, predetermined amount of volume in each direction. Don't have any reserve for temporary upswings or new business. Nevermind that it would bring in revenue and more money in their pocket. The rumors were that BlackRock was the single largest investor, that they had Vena brought in. After they sold some of their holdings and Vanguard became the top dog, they wanted to see more volume and revenue growth. That's when Vena was "allowed to walk away" by not renewing his contract. I was hoping once Vena was out they would've actually tried to go after more business and increase volumes. They talked, and still talk, about needing growth, but mostly it's still cuts where ever they can. Any new business seems to be the "low hanging/easy to handle" type. The kind of performance that Soroban Capital cares about is purely financial. Vena won't improve the railroad, except maybe by running off more customers. Jeff
+1
CN's new CEO recently said (paraphrasing) that they were focusing on volume growth and less so on operating ratio going forward. Time will tell.
With all the dubvious finger pointing by the political knotheads and know-nothings, why not just throw the SEC into the mix and investigate Soroban and Vena?
Just for the heck of it I pulled a couple of key pieces of data from 2022 Financial Reports:
CP
Total Revenues $8.814 Billion, Net Income $3.517 Billion, Net Income % of Revenues 39.90%, Operating Ratio 62.2, Carloads 2.782 Million (Net Income includes some one-time items related to KCS aquisition)
CN
Total Revenues, $17.578 Billion, Net Income $5.118 Billion, Net Income % of Revenues 29.12%, Operating Ratio 60.0, Carloads 5.697 Million
NS
Total Revenues $12.758 Billion, Net Income $3.270 Billion, Net Income % of Revenues 25.63%, Operating Ratio 62.3, Carloads 6.835 Million
CSX
Total Revenues $14.986 Billion, Net Income $4.166 Billion, Net Income % of Revenues 27.80%, Operating Ratio 59.5, Carloads 6.218 Million
UP
Total Revenues $25.301 Billion, Net Income $6.998 Billion, Net Income % of Revenues 27.66%, Operating Ratio 60.1, Carloads 8.169 Million
BNSF
Total Revenues $25.888 Billion, Net Income $5.946 Billion, Net Income % of Revenues 22.97%, Operating Ratio 65.9, Carloads 9.549 Million
Vena decided he didn't want the CN CEO job after TCI nominated him for it a year or so ago. Was he holding out for this UP position, or does he just want to stay retired and enjoy his golden parachutes?
Greetings from Alberta
-an Articulate Malcontent
Some additional reading material:
https://www.railwayage.com/wp-content/uploads/2023/02/Soroban-PresentationtoUnionPacificsBoardofDirectors.pdf
I for one will be interested to see where decarbonization enabling comes in with maximizing shareholder return.
Perhaps the new regulations for diesel truck engines that became effective on December 20, 2022 just before Christmas will have some impact on modal shift.
https://www.epa.gov/regulations-emissions-vehicles-and-engines/final-rule-and-related-materials-control-air-pollution
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