CSX gets Uncle Pete to pay part of the payroll again.

Anonymous

Member since
April 2003
305,205 posts

Posted by Anonymous on Monday, April 12, 2004 7:52 PM

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.

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pmsteamman

Member since
March 2004
From: Lewiston Idaho
317 posts

Posted by pmsteamman on Monday, April 12, 2004 7:58 PM

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.

Highball....Train looks good device in place!!

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dmoore74

Member since
January 2001
From: MA
562 posts

Posted by dmoore74 on Monday, April 12, 2004 8:16 PM

Just wonder how the trainmaster knows so much about upper level CSX finances?
Does the Chief Financial Officer give him daily reports?

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JoeKoh

Member since
April 2003
From: Defiance Ohio
13,319 posts

Posted by JoeKoh on Monday, April 12, 2004 8:26 PM

What they couldnt give UP some superbowl tickets?
stay safe
Joe

Deshler Ohio-crossroads of the B&O Matt eats your fries.YUM! Clinton st viaduct undefeated against too tall trucks!!!(voted to be called the "Clinton St. can opener").

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Anonymous

Member since
April 2003
305,205 posts

Posted by Anonymous on Monday, April 12, 2004 9:55 PM

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)]

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greyhounds

Member since
August 2003
From: Antioch, IL
4,371 posts

Posted by greyhounds on Monday, April 12, 2004 10:07 PM

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

"By many measures, the U.S. freight rail system is the safest, most efficient and cost effective in the world." - Federal Railroad Administration, October, 2009. I'm just your average, everyday, uncivilized howling "anti-government" critic of mass government expenditures for "High Speed Rail" in the US. And I'm gosh darn proud of that.

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csxengineer98

Member since
October 2002
From: US
2,358 posts

Posted by csxengineer98 on Tuesday, April 13, 2004 4:56 AM

slowly working the way to a UP CSX merger...as much as you all dont think it will happen...
csx engineer

"I AM the higher source" Keep the wheels on steel

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Anonymous

Member since
April 2003
305,205 posts

Posted by Anonymous on Tuesday, April 13, 2004 7:46 AM

They will have to give UP Superbowl Tickets

DOGGY

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dharmon

Member since
August 2003
From: Bottom Left Corner, USA
3,420 posts

Posted by dharmon on Tuesday, April 13, 2004 3:24 PM

QUOTE: Originally posted by greyhounds

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

Yes, a normal and quite frequent occurance.......short term notes...

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dharmon

Member since
August 2003
From: Bottom Left Corner, USA
3,420 posts

Posted by dharmon on Tuesday, April 13, 2004 3:26 PM

QUOTE: Originally posted by csxengineer98

slowly working the way to a UP CSX merger...as much as you all dont think it will happen...
csx engineer

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.

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BaltACD

Member since
May 2003
From: US
25,292 posts

Posted by BaltACD on Tuesday, April 13, 2004 4:05 PM

QUOTE: Originally posted by n_stephenson

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)]

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.

Never too old to have a happy childhood!

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Anonymous

Member since
April 2003
305,205 posts

Posted by Anonymous on Thursday, April 15, 2004 1:39 PM

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

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fuzzybroken

Member since
October 2002
From: Milwaukee, WI, US
1,384 posts

Posted by fuzzybroken on Thursday, April 15, 2004 7:03 PM

QUOTE: Originally posted by dharmon

QUOTE: Originally posted by greyhounds

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

Yes, a normal and quite frequent occurance.......short term notes...

So THAT'S what's in my money market fund!!! [8] [:)]

-Mark

-Fuzzy Fuzzy World 3

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dharmon

Member since
August 2003
From: Bottom Left Corner, USA
3,420 posts

Posted by dharmon on Thursday, April 15, 2004 7:57 PM

QUOTE: Originally posted by fuzzybroken

QUOTE: Originally posted by dharmon

QUOTE: Originally posted by greyhounds

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

Yes, a normal and quite frequent occurance.......short term notes...

So THAT'S what's in my money market fund!!! [8] [:)]

-Mark

zactly......

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UPTRAIN

Member since
June 2002
From: Independence, MO
1,570 posts

Posted by UPTRAIN on Thursday, April 15, 2004 10:14 PM

CSX = moochers!!! [:D]

Pump

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Anonymous

Member since
April 2003
305,205 posts

Posted by Anonymous on Thursday, April 15, 2004 10:36 PM

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

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dharmon

Member since
August 2003
From: Bottom Left Corner, USA
3,420 posts

Posted by dharmon on Friday, April 16, 2004 11:43 AM

Shareholder meeting 5 May.

I just sent my proxy in today.......

I went pro labor on this one

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Anonymous

Member since
April 2003
305,205 posts

Posted by Anonymous on Friday, April 16, 2004 12:13 PM

QUOTE: Originally posted by dharmon

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

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overall

Member since
December 2001
From: US
1,475 posts

Posted by overall on Friday, April 16, 2004 12:44 PM

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

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